Lawsuit Settlement Funding – A Solution or Trap?

If you had been a plaintiff for a while, you might have come across several offers from different money lenders. Had you applied for traditional loans, it would have become cumbersome for you. Unfortunately, the secured and unsecured loan options aren’t too friendly when anyone has a poor credit score.

On the other hand, the lawsuit settlement funding solutions offered by lenders may seem lucrative, but have certain disadvantages. It has found several criticisms on different grounds. Here’s to mention a few:

The cost of funding is too high when the lender takes a major chunk of the eventual settlement.

Some of the lenders provide a very small amount of finances after approving the application submitted by the plaintiffs.

However, you have a chance to find a solution with less trouble. Indeed, the Consumer Financial Services offers lawsuit loans, settlement funding and law firm financing to plaintiffs, customers and attorneys. With the help of professionals, you can avoid a lot of problems that seem invincible.

The reasons you should trust the company:

Competitive lending rates against loans. If you lose a case, you don’t owe anything.

1-minute loan request form online submission and quick approval (depending on the case).

Same day or next day funding, with ease.

No such requirement to pay more than the settlement or award.

Precise answers to all questions, concerns and doubts.

If you end up with someone who doesn’t properly answers to your questions, it’s a trap. But, with the Consumer Financial Services, you will every solution for your funding requirements.

What’s Easier – Traditional Loans or Settlement Loans?

As a plaintiff, you’d require professional help for an appropriate settlement and nothing less than that. If you are an individual, instead of a corporate/business, things would become uncomfortable for you without honest advice.

Though banks and other traditional lending companies advertise “great” offers about their lending rates, financial help and so on, but it’s all an illusion.

Being a needy party, you would rush for traditional loans and here’s what they would ask for you:

Good credit card scores

Collateral for secured loans

Higher interest rates on unsecured loans

Poor policies

And the list follows…

 

Comparatively, it’s easier to get lawsuit funding for yourself. If you are struggling to make ends meet due to injury or any other issue while fighting for a lawsuit in the court, a lawsuit loan from a lender will resolve your problem.

Let us clarify that no lending comes without disadvantages. However, it surely depends on the lender you find, for help. Since the lawsuit lending industry comes under little or no regulation in the federal states, it can prove daunting for you.

What you can do

Though it depends on the evaluation of your case, you can request quotes for lending rates to different lawsuit lenders.

Ask about the compound interests and how often it occurs, such as monthly or quarterly or so on. The higher the interest is compounded, the more you are going to pay.

Check whether they want you to pay more than settlement loans or not. Ask for a clarification regarding no payment for lawsuit’s failure.