At a glance…
How to Find the Best Lawsuit Loan Company
If you filed a lawsuit and need financial assistance while your case is pending, you’ve probably noticed that there are no shortage of pre-settlement loan companies who want your business. It’s important that you be able to separate the reputable companies from the fly-by-nights, and to understand what to look for in the best settlement loan companies. This guide will help you understand:
- How to choose a pre-settlement loan company,
- What criteria to use when you evaluate a lawsuit lending company, and
- Why we think we’re the best lawsuit funding company for you.
On the go? Download the printable PDF version of our guide to finding the best pre-settlement funding company for you:
NOTE: This guide is not a substitute for seeking advice from your lawyer about whether a lawsuit loan is right for you. Before accepting a pre-settlement loan, talk to your attorney about all of your options. You should never sign any paperwork from a pre-settlement funding company without reviewing it with help from your attorney and making sure that all of your questions about the pre-settlement loan process are answered. This guide was prepared by Nova Legal and is an advertisement for Nova Legal. It also contains information about Nova Legal’s competitors in the pre-settlement loan industry.
What Factors Should You Consider When Searching for the Best Lawsuit Loan Company?
The pre-settlement funding company you choose will have an impact on the total amount of money you receive at the conclusion of your lawsuit. Because of this, it’s very important to do your research into potential lenders and think carefully about whether a company is the right fit for you and your case. Here are the most important criteria to consider when searching for a pre-settlement loan company.
- How the pre-settlement loan company sets interest on advances.
- The interest rate percentage charged on the pre-settlement advance.
- Whether the terms and conditions of the lawsuit loan is easy to understand.
- How the pre-settlement loan company works with your lawyer.
- How quickly the pre-settlement advance will be available to you.
How the pre-settlement loan company sets interest on advances.
The best pre-settlement loan companies evaluate clients on a case-by-case basis and set their interest rates on the strength of each case. A reputable lawsuit funding company will want to talk to both you and your lawyer to gather information about your legal claims and the likelihood that your case will result in a favorable settlement or verdict. If possible, do not work with a lawsuit funding company that charges the same interest rates to all of its customers. Only work with a pre-settlement funding company that varies its rates based on a principled approach to case evaluation.
The interest rate percentage charged on the pre-settlement advance.
You should have a clear understanding of the interest rate on a pre-settlement loan before you sign any paperwork. Once a pre-settlement loan company is done evaluating and underwriting your case, you need to ask what your monthly (or fixed) interest rate will be. If a company sets a rate above 3.5%, you are probably being charged too much on your pre-settlement advance. Look for a company with low interest rates that are simple to understand.
Whether the terms and conditions of the lawsuit loan is easy to understand.
The process of filing a lawsuit can be very overwhelming, and most reputable pre-settlement advance companies understand this. You should look for a company that offers clear and concise terms and conditions for its loans and is willing to answer any questions you may have about the pre-settlement funding process. As with any consumer financial product, you will need to sign paperwork before receiving any funds. Make sure that you can understand the documents before you sign them, and never work with a pre-settlement loan company that won’t answer your questions about their terms and conditions.
How the pre-settlement loan company works with your lawyer.
Before you can obtain a pre-settlement loan, you must be represented by a lawyer who has filed a lawsuit on your behalf in state or federal court. Any reputable pre-settlement loan company will ask to speak with your lawyer about your case. Your lawyer will need to cooperate with the pre-settlement funding company in order to complete the case evaluation and underwriting process. You should select a pre-settlement loan company that cooperates with your lawyer and with which your lawyer is comfortable working.
How quickly the pre-settlement advance will be available to you.
The process of filing a lawsuit is stressful and many plaintiffs need financial relief while their case is pending. A trustworthy pre-settlement loan company will transfer the funds to you in as little as 24 hours once your case is approved and you sign the necessary paperwork. Before you select a pre-settlement loan company, make sure that you understand how long it will take to get the money so that you can plan accordingly.
As featured in
10 Reasons Why Nova is the Best Lawsuit Funding Company
Why is Nova the Best Lawsuit Loan Company in 2022?
Obviously, we are biased. But we also genuinely believe that we are your best option for a lawsuit loan provider. Why? Because being the best is the goal we’ve been working toward every day for the past decade that we’ve been around. Here are 10 reasons you should consider us.
- We have over 500 positive reviews
- We have been around for a decade
- We offer the lowest rates in the industry
- We work hard to make the process easy for you
- We speak lawyer
- We are transparent and honest
- We balance speed with thoroughness
- We are industry thought leaders
- We are human
- We believe that what we do matters
We have over 500 positive reviews
We have been around for a decade
We offer the lowest rates in the industry
We work hard to make the process easy for you
We speak lawyer
We are transparent and honest
We balance speed with thoroughness
We are industry thought leaders
We are human
We believe that what we do matters
That doesn’t happen by accident, and it doesn’t happen overnight. We work hard to deliver a positive, efficient experience to each and every client. We encourage you to check out what our clients say about us on Google and Trustpilot.
Settlement funding is still a relatively young industry, and new lawsuit funding companies are popping up every day. When you choose Nova you can be confident knowing that we’ve been around the block, and we are here to stay.
At the end of the day, we want you to keep as much of your settlement as possible. That’s why we offer the lowest rates in the industry. To see what we can save you compared to other funding companies, check out our lawsuit loan calculator.
People come to us because they have too much on their plate already, which is why we take seriously our duty to make this process simple for you. That means clear communication, fast follow-up, and complete transparency.
To get a pre-settlement loan, you need to have an attorney representing you. We know how to communicate with your attorney in order to move the process along and ensure that everyone is comfortable with moving forward.
Businesses that aren’t don’t tend to last as long as we have, or to have the track record we do. We value long-term thinking which means never compromising our values of being honest, and transparent with our clients.
We know that you need cash fast. But we also recognize that no one benefits from sacrificing diligence for speed. We balance these two interests to ensure the best outcome for us and for you.
We are not a nameless, faceless corporation. When you contact Nova Legal Funding you will speak with a human. You will know their name, and they will know yours.
Life is short and it’s about more than making money. We are in the business of helping people who need help. It’s what drives every decision we make, and we wouldn’t have it any other way.
Nova Legal Funding is a Professional Pre-settlement Funding Company
Nova Legal Funding (NLF) is a direct-funder for lawsuits and is based in Los Angeles, California. Besides providing lawsuit loans in California, Nova Legal Funding supplies lawsuit funding and car accident loans to injured plaintiffs nationwide and with all types of personal injury claims. After spending 30 seconds filling out our application at the right-hand side of the page, we could have cash transferred to your account within 24 hours or less.
No credit checks, zero up-front fees and completely risk free. When it comes to applying for fair and risk-free lawsuit funding, Nova Legal Funding is your best option. Call today for immediate qualification—speak to a live funding specialist at our national toll-free number at (800) 760-0704.
For more useful information, visit our additional guides below:
Are lawsuit funding companies allowed to operate in my state?
We are able to provide lawsuit funding to plaintiffs in 47 states, all except for Colorado, Maryland, and Tennessee. Here are the 20 most popular states for lawsuit funding companies:
- Michigan Settlement Funding Company
- Minnesota Settlement Funding Company
- Missouri Settlement Funding Company
- New Jersey Settlement Funding Company
- New York Settlement Funding Company
- North Carolina Settlement Funding Company
- Ohio Settlement Funding Company
- Pennsylvania Settlement Funding Company
- Texas Settlement Funding Company
- Virginia Settlement Funding Company
- Washington Settlement Funding Company
- Wisconsin Settlement Funding Company
Cases We Fund
Nova’s rates are as low as 1-3%. Our mission is to have some of the lowest rates in the industry. We’ll match or beat anyone’s rate.