Pre-settlement funding companies have become a big important thing in today’s world. They are a necessity as they alleviate a person’s financial trouble while pursuing a certain lawsuit. In fact, it is one of the fastest-growing industries that we have today.
Unfortunately, many companies are only concerned with emptying your cash before the lawsuit is finished. There are some really unethical companies roaming around. One really has to think twice and not rush into a decision when choosing an adequate company.
It can be really problematic if a person is going through a personal injury lawsuit. Depending on the level of injury, a person might not be able to work and earn money. Lawsuit bills are already high, and we can’t forget the costs of living that one has to pay. So people are sometimes forced into making rash decisions.
But here are some tips to employ when choosing a trustworthy lawsuit loan company.
Determine the terms first
Make sure to determine all the loan terms clearly before you go on. Some companies will often try to slip in some extra or hidden fees that may go unnoticed. You must thoroughly review the agreement and decide on all the terms in the contract.
The best way to spot this type of problem is wordiness or the contract itself being somewhat unclear. This clearly signifies somebody trying to put one over on you.
Responsive and communicative
You are already going through enough. You don’t have time to drag the process as the bills are piling up as you search. Finding a lawsuit company quickly is what you need. Thus responsiveness is a major factor here as it also shows how determined a company is.
Having a very cooperative and understanding company at your side is exactly what you need. You are already in a stressful situation, so determining the situation quickly is the way to go.
Works well with your attorney
Another positive sign would be the company establishing a good working relationship with your attorney. If the lawsuit loan company can work everything out simply without any pressure, it is a clear sign that the company means business. Your attorney will most likely help you understand the situation even better as both of you realize that the company is for real.
A bad sign would be being pressured to sign an agreement right away. If they ask you to do this without your attorney’s presence, establish an escape route quickly.
Trustworthy pre-settlement funding companies: Conclusion
Remember, you are already in a situation when you are strapped for cash. Pre-settlement funding companies should include a no-risk policy and clear terms from the start of your conversation with them. Finding one that offers clear insight is a good sign that they are there to help you and not just earn cash.
Ready to apply for a pre-settlement advance? Get non-compounding rates from 2.95% to 3.4% monthly, capped in the third year of your loan. Get started today.