You’re entitled to a deserved settlement amount from the claim or lawsuit you just filed. The compensation will cater for any damages and injuries you experienced, but there’s a problem. Most lawsuits take months or even years before the judge or jury concludes it and awards the compensation they deem fair.
When awaiting the judgment, you’ll still have to address your daily expenses as well as other costs linked to the claim. That’s why most plaintiffs rely on legal funding agencies. One of the most popular firms is Golden Pear Funding. Even though the company is legit, learning more about it and how it compares in the market can influence an informed choice.
This comprehensive review has every detail regarding the company’s services, loan limits, funding costs, and perks and drawbacks.
An Overview of Golden Pear Funding
The popular legal funding company was established in 2008. To date, Golden Pear Funding boasts serving more than 54,000 attorneys, plaintiffs, and physicians with over $600,000,000 in funding. According to the website, it takes minutes to get up to $3,000 and one day to receive up to $50,000.
While the legal funding company offers pre-settlement funding throughout the US, it mostly funds injured applicants within New York. The only eligibility requirements to get funding from the agency are attaining legal age, and an attorney must be working on your personal injury case.
One of the greatest attractions to Golden Pear Funding is that apart from traditional legal funding for daily living costs, the organization also grants surgical funding.
How Golden Pear Funding’s Pre-Settlement Funding Works
The leading lawsuit funding agency works almost the same way as Silver Dollar Financial, granting legitimate non-recourse pre-settlement loans. This means the loan will be against a pre-established and anticipated compensation. You’re not personally liable to repay the loan, and the lender cannot come after your cash, family members’ funds, or bank account. Rather, you accept paying the lender a fraction of your jury award or settlement once the case concludes.
These arrangements are attractive to plaintiffs because the pre-settlement funding granted doesn’t come with the anxiety of keeping up with monthly payment plans. Also, applicants aren’t subjected to credit score checks, and none of your property will be seized as collateral.
Moreover, no one will force you to repay even a fraction of the loan if you get an unfavorable case outcome that leaves you with no compensation. Other crucial facts about Golden Pear lawsuit loans include:
- No prescribed limit loan range or borrowing limits
- Your funding can be approved and dispensed within a single day, depending on your eligibility and case
- Direct funding without broker involvement
- A comprehensive list of acceptable case types
- Funding for workers’ compensation claims
Acceptable Cases for Golden Pear Funding
One of the key considerations when looking for pre-settlement funding is probably the eligibility requirements. Like Silver Dollar Financial, Golden Pear offers plaintiffs decent chances to qualify for their financial aid.
Most lenders insist on working with applicants who have attorneys working on their cases because they’ll regularly consult with lawyers for different insights crucial to your lawsuit and loan application. That’s why Silver Dollar Financial goes ahead to link you with an experienced and reliable lawyer if you don’t have one. The cases for which you can apply pre-settlement funding include, but aren’t limited to:
- Vehicular accident litigation
- Injuries at your workplace
- Workers’ comp
- Jones Act
- Premises liability
- Medical malpractice
- Police brutality
- Dog bites
- Wrongful death
The scope of acceptable cases for Golden Pear Funding isn’t different from what is covered by Silver Dollar Financial lawsuit loans.
How Long Will You Wait to Get the Funding?
Considering the purpose and urgency surrounding pre-settlement loans, most companies strive to dispense cash to plaintiffs in the shortest time possible. Golden Pear Funding promises to take 24 hours to complete loan approval and funding. Once your lawsuit loan application is approved, the cash will be delivered to you in minutes via the company’s eFunding services.
Similarly, Silver Dollar Financial will have your loan approved and sent to you within a single day to ensure you address all your urgent needs.
What Are the Charges for Pre-Settlement Funding?
Golden Pear Funding doesn’t mention a specific interest rate or additional costs that borrowers should expect. This is a huge drawback as such information is usually crucial in appraising the best lawsuit funding company.
Case Cash Funding is an affiliate of Golden Pear Funding. The company indicates on its website that borrowers are charged a monthly compound interest of 2.99%. The pricing and policies may differ, but this can be a great benchmark for the anticipated cost of Golden Pear’s pre-settlement funding.
A compound interest approach isn’t usually the best alternative for lawsuit loan borrowers. Most plaintiffs aren’t sure when their cases and claims will be concluded. If the period extends, you may end up paying a huge amount than when you borrowed a loan that uses simple interest.
Golden Pear Funding’s Overall Reputation
One crucial indicator of a lawsuit lending company’s legitimacy is its industry accreditations and associations. These vital credentials offer a glimpse of how a particular lender is perceived in the industry. Fortunately, Golden Pear Funding performs well in this category.
The company is associated with the Trial Lawyers Association of New York. What’s more, it’s a member of the country’s Legal Finance Association. With these memberships up its sleeve, it’s true to conclude that Golden Pear Funding abides by the latest industry ethical guidelines and is in great standing.
Another excellent indicator of a lawsuit loan provider’s legitimacy is its customers’ views. Clients who’ve worked with Golden Pear Funding have shared their experiences on different platforms. Most of them laud the company for faster loan approval and delivery, greater case acceptance, personable account managers, and overall professionalism.
Here’s how top review platforms rate the lender:
- Google Rating – 4.2/5.0
- BBB Average Customer Review – 1.0/5.0
- Trustpilot – 4.6/5
- BBB Rating – A+, Accredited business
- BBB Complaints – Nil
Partner with Silver Dollar Financial, a Reliable Legal Funding Company
Golden Pear Funding is among the leading pre-settlement lenders, and there are numerous perks that you’ll likely enjoy when you work with them. However, a lot has to be done concerning transparency.