As you are waiting for your injury lawsuit to settle or wrap up, discovering financial relief during this challenging time can be a stressful ordeal. Thankfully, with a lawsuit funding company on your side, you will not have to wait long to get the funds you need.
However, even though finding one of these lenders is easy, it does not mean all these establishments are created equally. That is why in this review, we will explore in detail one of these lending institutions – Direct Legal Funding and explain how it compares with Silver Dollar Financial. We hope with these details, you can better understand what you need in a legal funding company.
Direct Legal Funding – Who are They?
Direct Legal Funding is a service related to everything lawsuit loans, lawsuit cash advances, and settlement loans. The business prides itself on fast and reliable services and providing its clients the loan processing they need.
As a result, if you have filed a lawsuit, are awaiting trial, or are planning on filing a lawsuit and are represented by an attorney, you can apply for a lawsuit cash advance with Direct Legal Funding.
The company often provides lawsuit loans and cash advances for car crashes, personal injury accidents, plaintiffs, and workers’ compensation incidents. Best of all, if you lose your case, you can walk away with the money and do not need to pay the company back. However, if you win, the company will have a right to share the settlement amount.
Direct Legal Funding – How do They Work?
To get legal funding from Direct Legal Funding, the company will need to get in touch with your lawyer, evaluate the details of your case, and figure out if you qualify for financing. Once all the paperwork is completed, and a lien is placed, the funds will be sent directly to you by check. Depending on the circumstances of the case, your whole claim can be approved within 24 hours.
Direct Legal Funding – The Reviews
Although Direct Legal Funding claims its business is based on referrals that showcase their high value of customer service and fast turn-around time, some of their current reviews tend to differ on this point. For instance, even though the company’s Google ratings show that it has an overall rating of 4.2 out of 5 stars, some of the recent reviews indicate that customers have only rated them one or two stars out of five because they refuse to answer phone calls and communicate with the customer, or they pass around cases without getting anything resolved.
How does Direct Legal Funding Compare with Silver Dollar Financial?
When it comes to the basics between Silver Dollar Financial and Direct Legal Funding, there are no significant differences between the two. This is because, for both, qualification is not based on your job, your income level, or even your credit score. Rather it is all about the facts of the case. Plus, you are not liable for the money if you lose since both institutions consider the loan non-recourse.
So why would you need to choose one over the other? Let’s take a look at precisely what sets Silver Dollar Financial apart:
An Interest Rate Guarantee
Many legal funding providers will indicate they provide low-interest rates depending on the individual’s case. In fact, Direct Legal Funding indicates its interests rates are as low as 2%, but riskier lawsuits may be found ineligible for funding or only eligible for high-interest rates. However, with Silver Dollar Financial, it is guaranteed that you can get the industry’s lowest interest rates.
Fast Turn-Around Time
Both Direct Legal Funding and Silver Dollar Financial indicate that cases can be approved within 24 hours. However, Direct Legal Funding also suggests that this timeline will depend on the case, and based on certain reviews, it looks like the customers may not even hear back from the company within 24 hours. On the other hand, Silver Dollar Financial takes 24 hours to approve most types of funding loans.
On Google, Silver Dollar Financial is rated as 5 out of 5 stars. In addition, it is listed on the Better Business Bureau as having no customer complaints, and testimonials indicate how fast and reliable the services provided by the company are.
A Word of Caution When It Comes to Direct Legal Funding
Even though the overall outlook of Direct Legal Funding seems positive and the services are similar to that of Silver Dollar Financial, there are some issues that you need to consider that may give you pause. For example, it does not appear that there is an upper bound on the amount of legal funding provided by Direct Legal Funding. While this may seem like a plus, it can cause numerous issues for individuals when they get a larger loan than they require and are forced to deal with hefty repayments.
Plus, the company’s website is limited to specific information related to its membership in industry ethics organizations. For instance, critics of the lender would like to see proof that it is a part of organizations such as the American Legal Finance Association (ALFA) or Alliance for Responsible Consumer Legal Funding (ARC), which helps promote, define, and influence industry-wide best practices. This is because questions about legitimacy often arise for legal funding companies that are not associated with these specific organizations.
Work with Silver Dollar Financial today and get the funding you need
When you choose Silver Dollar Financial, you will not have to weed through all the fine print and troublesome information other competitors provide. Instead, you can get the money you need in no time, with the quality services you want.