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.
Factors to Consider When Evaluating the Best Pre-Settlement Loan Companies
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 of the Best Lawsuit Funding Companies
These are the top 10 pre-settlement advance companies to evaluate when searching for a lawsuit loan. This guide was prepared by Nova Legal, and you should consider all of your options when preparing to secure a pre-settlement advance on your lawsuit.
- Nova Legal Funding
- Peachtree Financial Solutions
- Oasis Financial
- Momentum Funding
- DRB Capital
- Law Cash
- Prime Case Funding
- High Rise Financial
- The Legal Funding Group
- Mayfield Settlement Funding
Nova Legal Funding
Nova Legal is a pre-settlement loan company based in Los Angeles, California. Although Nova Legal funds all types of cases, the pre-settlement loan experts at Nova Legal specialize in personal injury cases. Nova Legal Funding provides lawsuit loans to plaintiffs all states except Colorado, Maryland, and Tennessee. Nova Legal uses a conservative underwriting process and sets low interest rates on a case-by-case basis. All Nova Legal advances are offered on a “non-recourse” basis, which means that you do not owe anything if you do not settle or win your case. For approved applicants, Nova Legal can advance cash in as little as 24 hours. Unlike some competitors, Nova Legal specializes exclusively in pre-settlement loans and does not offer other financial products.
Los Angeles, California | Website | Phone: (800) 760-0704
Peachtree Financial Solutions
Peachtree Financial Solutions is a Pennsylvania-based company that offers pre-settlement funding. Founded in 1996 and subsequently acquired by J.G. Wentworth, Peachtree Financial Solutions offers no-recourse legal funding to plaintiffs. Peachtree Financial Solutions bases its interest rates on pre-settlement advances on the strength of each case. It offers successful applicants funds within as little as 48 hours of approval. Peachtree Financial offers other services in addition to pre-settlement loans, such as structured settlements, lottery payments, and annuity payments.
Radnor, Pennsylvania | Website | Phone: (800) 821-7773
Oasis Financial is a pre-settlement loan company founded in 1996. Oasis Financial is based in Rosemont, Illinois. Oasis Financial finances a variety of legal cases but specializes in personal injury cases such as auto accident lawsuits, premises liability lawsuits, and other injuries. Oasis Financial does not offer information about its pre-settlement funding interest rates on its website, and instead provides this information to applicants only after approval. In addition to its pre-settlement funding business, affiliates of Oasis Financial offer medical lien solutions and a pharmacy card program.
Rosemont, Illinois | Website | (877) 333-6675
Based in Florida, Momentum Funding is a pre-settlement loan company that works with plaintiffs in a wide variety of lawsuits. In addition to pre-settlement loans, Momentum Funding offers a transportation concierge service and advances on medical procedures. Momentum Funding does not provide information about its pre-settlement loan interest rates on its website. Momentum Funding offers cash to approved applicants within 24 hours of approval.
Boca Raton, Florida | Website | (855) 855-3863
DRB Capital is a Florida-based company that offers a variety of financial products. In addition to pre-settlement loans, DRB Capital provides lump-sumayments for structured settlements and annuities. DRB Capital funds a wide variety of lawsuits. The DRB Capital website indicates that the time for approved applicants to receive funds may vary, but that some customers receive cash in as little as 24 hours from approval. DRB Capital does not work with customers residing in Arizona, Arkansas, Illinois, Maryland, Minnesota, or Nevada.
Delray Beach, Florida | Website | (855) 582-9975
Law Cash is a pre-settlement loan company based in New York. In addition to pre-settlement loans, Law Cash offers surgery funding and post-settlement funding. Plaintiffs can apply with Law Cash online to begin the litigation financing process. The speed at which Law Cash can transfer funds depends on whether approved applicants complete all necessary paperwork. Law Cash does not provide information about its interest rates on its website but offers advances on a non-recourse basis, which means that plaintiffs who do not win or settle their case do not need to repay Law Cash for the advance.
Brooklyn, New York | Website | Phone: (800) 529-2274
Prime Case Funding
Prime Case Funding is a New York-based pre-settlement advance company. Prime Case Funding sets its interest rates on a case-by-case basis, but these rates are compounded monthly. Prime Case Funding works with plaintiffs in a variety of civil lawsuits, including personal injury, medical malpractice, and false imprisonment cases. In most approved cases, Prime Case Funding provides a cash advance within 24 hours of approval. In addition to pre-settlement loan services, Prime Case Funding offers surgery funding.
New York, New York | Website | (888) 767-4288
High Rise Financial
High Rise Financial is a California-based pre-settlement loan company that works with plaintiffs in personal injury lawsuits. High Rise Financial also facilitates surgery funding, also known as “on-lien” or lien-based medical care. High Rise Financial offers funds to approved plaintiffs within 24 hours of approval. Although the company does not disclose its interest rate percentage on its website, High Rise Financial states that it does not apply compound interest to its pre-settlement loans.
Los Angeles, California | Website | Phone: (877) 912-1189
The Legal Funding Group
The Legal Funding Group is based in Savannah, Georgia. The Legal Funding Group offers pre-settlement loans to plaintiffs in a wide variety of cases. The Legal Funding Group does not vary rates on a case-by-case basis. Instead, the Legal Funding Group charges 36% interest on pre-settlement advances every six months. The Legal Funding Group allows plaintiffs to apply for pre-settlement funding online and can transfer cash to approved applicants within 24 hours of approval.
Savannah, Georgia | Website | Phone: (912) 777-3397
Mayfield Settlement Funding
Mayfield Settlement Funding is an Arizona-based pre-settlement loan company. Although Mayfield Settlement Funding works with plaintiffs in a variety of cases, it does not offer litigation financing in at least 12 states and does not provide worker’s compensation settlement funding in at least seven states. Mayfield Settlement Funding does not provide substantial information about their interest rates on its website, but states that approved plaintiffs pay a moderate interest rate on their advance if their case settles or reaches a successful verdict in court. Mayfield Settlement Funding offers approved applicants a cash advance in as little as 24 hours of approval.
Phoenix, Arizona | Website | Phone: (888) 800-8400
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:
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.