If you have been involved in a lawsuit and are unable to work, you may be looking for some financial relief while the lawsuit plays itself out. Many plaintiffs turn to pre-settlement funding, non-recourse funds, which are only paid back if you win or settle your case. Many in this situation will turn to the first available option, but you should make sure that the legal funding company you turn to is reliable before submitting an application.
When you’re looking for a pre-settlement funding company, keep in mind that not all are created equally, and it can be difficult to know who you can trust in business. Here are 5 factors that point to the reliability of a lawsuit funding company.
Transparent, Prompt Communication
When you contact a pre-settlement funding company, you should be able to speak with a live person fairly quickly, and the company should be willing to answer any questions you have. If answers to your queries are vague or inconsistent, look for another company that will answer all questions concisely and without hesitation.
Works With You and Your Attorney
A reputable pre-settlement funding company should build a good working relationship with your attorney, so you can focus on your life. If a company discourages you from bringing your lawyer on board, this is a red flag.
No Hidden or Exorbitant Fees
Unfortunately, companies that aren’t reputable resort to unethical practices when it comes to fees and interest rates. A company should never ask for an application fee up-front just to see if you qualify for a loan.
Legitimate Reputation
Do your research to learn about how long the litigation funding company has been around and what clients are saying in their reviews. Visit the Better Business Bureau to see how the company fares compared to others. If the business is a member of the American Legal Finance Association, it must abide by specific terms, which offers you more protection, so you can feel confident about your decision.
How Pre-Settlement Funding Can Help You
If you’re currently involved in a personal injury lawsuit or class action lawsuit, lawsuit funding can help you cover medical bills and living expenses while your case is making its way through the courts. You only have to pay the money back if you win with LawCash. Contact us or apply online to see if you qualify for pre-settlement financing.