Lawsuit funding is an excellent option available for plaintiffs who don’t have sufficient money to fight the best settlement award against big insurance. In the United States, the lawsuit funding industry is becoming popular as it gives personal injury victims the right freedom to take care of their expenses while they fight for their legal rights.
When your credit isn’t strong, or you already have a lot of debt or are unemployed while recovering from personal injury, many lawsuit funding companies are available to help plaintiffs get the desired funding for their needs.
Remember, lawsuit loans are non-recourse. This means that the company won’t look into your credit history, employment status or base the loan on recourse. You will only pay them back if you win your case. Depending on how strong your case is, you may qualify for better rates. Most lawsuit loans have high-interest rates as high as 4.5% a month, so you may want to keep this in mind. Picking a trustable company is key to not falling prey to some companies that charge interest rates as high as 250% per year.
Before you apply for a lawsuit loan, make sure you research the best loan you can get. It is best to spend a little bit of time now so you can save thousands later!
As you start considering a lawsuit loan, here are our picks for the best lawsuit loan lenders in 2021.
Baker Street Funding
Baker Street Funding is a lawsuit loan company that helps attorneys fight their client’s lawsuits effectively while providing custom match pricing (or lower rates) if you show them your contract with a different firm. The company offers pre-settlement funding, medical lien loans, attorney legal funding, and institutional litigation funding options to its clients and is known to be a straightforward “no non-sense” type of firm. Their interest rates vary from 1.5% to approximately 3.45% per month on a general basis and up to 3.0% simple interest rates per month for attorney referred cases.
Thrivest Link is another option available for the personal injury victims in the United States to get their legal and medical funding for their legal procedures. Thrivest Link focuses on providing consumer litigation and medical funding with transparency and also offer fair rates. They are known to be easy to work with and for their high level of professionalism and expertise within the industry. Their rates are set to be between 1.7% to approximately 3.48% per month, non-compounding for general funding programs and for attorney referrals; this pricing could go less and varies.
Cash 4 Cases
Cash 4 Cases facilitates the availability of legal funding in just 24 hours, and it prevents a person from waiting. It fulfills the requests of its clients via a stress-free high-tech process. Cash 4 Cases is known to have an efficient underwriting service that delivers a decision in as little as 12 hours, which has made many of their clients satisfied. Their rates vary from 2.3% to approximately 3.58% per month, non-compounding. Attorney referral pricing is dependant upon the law firm, the case, and the amount the client is approved for.
Golden Pear Funding
Golden Pear Funding allows a person to opt for risk-free pre-settlement funding or consumer litigation funding to arrange money to meet their necessities. They are backed by a hedge fund, which means they have unlimited funds to provide. Golden Pear Funding is also known to have a fair amount of attorney relationships around the United States, which makes them a trustable firm. They charge about 2.0% to approximately 3.81% per month non-compounding rates, which makes them our number #4 pick of the best lawsuit loan companies in the US.