When dealing with the aftermath of a personal injury, the financial strain can be overwhelming. Medical bills, lost wages, and ongoing living expenses quickly pile up, making it difficult to focus on recovery. Personal injury lawsuit funding offers a lifeline for many plaintiffs in this situation, providing the necessary financial support until a settlement is reached.

However, not all lawsuit funding companies are created equal. Comparing these companies can be daunting, but understanding the key factors involved can make the process much smoother — and ensure you make the best choice for your situation.

Understanding Personal Injury Lawsuit Funding

Personal injury lawsuit funding, also known as legal funding or pre-settlement funding, is a cash advance provided to plaintiffs involved in personal injury lawsuits. Unlike traditional loans, this funding is non-recourse, meaning you repay the advance only if you win your case. This arrangement provides significant relief for individuals facing financial difficulties while awaiting a settlement. However, the terms, conditions, and fees associated with lawsuit funding vary significantly from one company to another. Understanding these differences is crucial in selecting a company that meets your needs without adding further financial stress.

Interest Rates and Fees

One of the most important aspects to consider when comparing lawsuit funding companies is the interest rate and associated fees. Companies charge varying interest rates, which can significantly impact the amount you must repay upon winning your case. Some companies offer a flat fee, while others charge a compounding interest rate that increases over time. It is essential to request a detailed breakdown of all fees and interest rates before committing to any funding agreement. This transparency allows you to compare the total repayment amounts from different companies and choose the one that offers the most favorable terms. Additionally, inquire about any hidden fees or administrative costs that may not be immediately apparent.

- WHAT CLIENTS ARE SAYING -

In June, my wife and I asked our attorney about giving us a loan against any settlement proceeds from our case. He told us that the state bar does not

permit lawyers to participate in the financing of clients. The offer of settlement was very low so the case needed to be filed in court. I called Fast Funds. Within 24 hours, I had entered into an agreement with them, selling a very small portion of the anticipated proceeds to them in exchange for immediate financing. Now my suit is in court and I don't have to worry about money until it's outcome. Thank god for Fast Funds

B.G.

As a result of the advances you have made to our client, we were able to refuse an extremely low settlement offer and take the case to court. We settled the day of the trial for a very generous sum. Had there been no advances by Fast Funds, our client would have had no choice but to accept the inadequate offer since he was in severe debt due to his inability to work. Thank you for your helpful assistance in providing our client with the ability to persevere.

C.F.

I was involved in an accident which took my left leg. I was forced to live homeless for eleven months. Thanks to the Fast Funds people advancing money. I now live in an apartment,I am walking on a prosthetic and otherwise getting my life back together, even though my attorney has not yet settled my lawsuit. I don't know what I would have done for money because the insurance company has offered nothing so far.

A.R.S.

I was involved in an auto accident which caused me to suffer a herniated disc. Because of this injury, I was forced to miss many months of work. I had no income and no place or person to turn to for money. My attorney told me he was unable to help with any financing and the insurance company was refusing to settle the case. I turned to a company called Fast funds. They immediately reviewed my file and took the financial pressure off by providing me with interim financing. I am now able to wait for as long as it takes for my lawyer to achieve a successful result in my case. Without the financial involvement of Fast Funds, I don't know what I would have done.

K.P.

I wanted to thank you for your sensitivity in helping me cope through a very difficult time in my life. Without your help, I would have been unable to pay my rent , forcing my wife and children to be put on the street. I have not been able to return to work and I was tempted to accept the insurance company's very low offer to settle, even though I knew it was not fair or reasonable. You have given me the ability to withstand the financial pressures. Thanks for your help. I will never forget it

C.S.

I have in the past referred clients to Fast Funds Inc., a non-recourse company. The experience of my clients

and my firm were totally positive. Fast Funds was responsive to the clients financial and emotional needs, provided the necessary emergency money and did not interfere in any manner with my handling of the cases. The clients, without my input, negotiated the advance directly with the company. In each case, they were completely satisfied with the final result of the case, including the amount of profit earned by Fast Funds. Non-recourse funding is clearly a valuable tool to the plaintiff's attorney.

M.J.L.

"I am writing to recommend the valuable assistance of the Fast Funds Inc., a company that provided interim funding to financially needy clients. They help to insure that a case will be brought to a successful resolution. A good case in point is when I was offered $75,000.00 for a seriously injured client. Had she not been able to take advantage of the advance financing offered by Fast Funds, I would have been forced to take the money. As it turned out, because my client now had the financial ability to withstand the pressures of time, I tried the case to a jury and received a verdict of $315,000.00.

M.S.D.

It is my belief that non-recourse companies, such as Fast Funds, the company to whom I refer my needy clients, perform an invaluable service to both the client and the attorney. Simply put, it is common knowledge that one of the tools negotiation utilized by insurance companies is time. Offering

considerably less money than the actual case value to a client in desperate need of funds while the case is pending, gives the insurance companies a tremendous advantage. This advantage is minimized and the playing field is leveled when the client has the ability to obtain funds for a minimal portion of the anticipated proceeds. Many times, with no prospects of income, an injured party will settle the case for whatever offer is made.

R.J.F.

Application Process and Approval Time

The application process and approval time for lawsuit funding can vary widely between companies. Some companies offer quick and straightforward application processes with fast approval times, while others may have more complex procedures and longer wait times. In urgent situations where immediate financial relief is necessary, a company with a streamlined application process and rapid approval may be more suitable. Assessing the ease and speed of the application process can help you avoid unnecessary delays and ensure you receive the funds when you need them the most.

Reputation and Credibility

The reputation and credibility of a lawsuit funding company are critical factors to consider. A company with a solid track record and positive client reviews is more likely to provide reliable and trustworthy service. Researching online reviews, testimonials, and ratings from previous clients can offer valuable insights into a company’s reliability and customer satisfaction. Additionally, check if the company is a member of reputable industry associations, such as the American Legal Finance Association (ALFA), which sets ethical standards for legal funding companies. Choosing a well-regarded company with a history of satisfied clients can give you peace of mind and confidence in your decision.

Customer Service and Support

Excellent customer service and support are essential when dealing with personal injury lawsuit funding companies. The financial and emotional stress associated with personal injury cases makes it vital to work with a company that provides responsive and empathetic support. Assess the company’s customer service by contacting them with questions or concerns and evaluating their responsiveness, professionalism, and willingness to assist you. A company that prioritizes customer satisfaction and offers clear, helpful communication throughout the funding process can significantly ease your stress and ensure a smoother experience.

Funding Limits and Flexibility

Different lawsuit funding companies offer varying funding limits and flexibility in their terms. Some companies may have strict limits on the amount they can advance, while others may provide more substantial funding depending on the specifics of your case. It is crucial to determine if the company can meet your financial needs without overextending you beyond what you can realistically repay. Additionally, consider the flexibility of the funding terms. Some companies may offer more flexible repayment options or allow for adjustments based on changes in your case or financial situation. Understanding the funding limits and flexibility can help you find a company that aligns with your unique circumstances.

Transparency and Contract Terms

Transparency in contract terms is another vital factor to consider when comparing lawsuit funding companies. Carefully review all aspects of the contract, including interest rates, fees, repayment terms, and any other conditions. A reputable company should provide clear, straightforward contracts without hidden clauses or ambiguous language. If any terms or conditions are unclear, do not hesitate to ask for clarification. Ensuring complete transparency and understanding of the contract terms can prevent future disputes and ensure a fair and equitable funding agreement.

Speed of Disbursement

Once approved, the speed at which you receive your funds is critical. Some lawsuit funding companies can disburse funds within 24 to 48 hours, while others may take longer. Quick disbursement can be particularly important if you face urgent financial needs, such as medical bills or rent payments. Inquiring about the expected time frame for fund disbursement can help you plan accordingly and avoid financial disruptions while awaiting your settlement.

Legal and Ethical Standards

Ensuring that the lawsuit funding company adheres to legal and ethical standards is paramount. Companies that operate within the bounds of the law and follow ethical guidelines are more likely to provide fair and just services. Investigate whether the company complies with state regulations and ethical standards set by industry associations. Additionally, consult your attorney before entering into any agreement to ensure that the funding arrangement aligns with legal and ethical considerations. Your attorney can provide valuable guidance and help you navigate the complexities of lawsuit funding.

Comparing Multiple Offers

Obtaining quotes from multiple lawsuit funding companies allows you to compare offers and choose the one that best suits your needs. Presenting your case details to several companies can provide a range of funding amounts, interest rates, and terms to consider. This comparison enables you to make an informed decision based on a comprehensive understanding of the available options. Take the time to review each offer carefully, considering all factors discussed, to ensure you select the most favorable funding arrangement.

Seeking Professional Advice

Navigating the intricacies of personal injury lawsuit funding can be challenging. Seeking professional advice from your attorney or a financial advisor can provide valuable insights and help you make the best decision. These professionals can review funding offers, explain the implications of various terms, and guide you toward the most suitable option. Collaborating with knowledgeable advisors ensures that you understand all aspects of the funding agreement and choose a company that aligns with your financial goals and needs.

Finalizing Your Decision

After thoroughly researching and comparing different lawsuit funding companies, you are better equipped to make an informed decision. Consider all factors, including interest rates, fees, application process, reputation, customer service, funding limits, transparency, disbursement speed, legal and ethical standards, and professional advice. Taking a holistic approach to compare these elements will help you select a lawsuit funding company that provides the financial relief you need without adding unnecessary stress or financial burden.

Contact Us Today

At Fast Funds, we understand the challenges and financial strain that come with personal injury cases. Our commitment to providing transparent, fair, and timely funding solutions sets us apart. If you are navigating the complexities of a personal injury lawsuit and need financial support, we are here to help. Contact Fast Funds today to learn more about our funding options and how we can assist you in getting the financial relief you need while you focus on your recovery. Let us be your trusted partner in securing the funds you need during this challenging time.

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(855) 576-3444

Personal Injury

How to Compare Personal Injury Lawsuit Funding Companies