As a plaintiff, you deserve fair compensation for damages and injuries you’ve experienced. But the period between filing a civil lawsuit and getting compensation can be quite long. In between, you’ll still have to deal with any related costs, including medical expenses and daily payments.
Fortunately, lawsuit loan providers can relieve you from financial anxiety through pre-settlement funding.
When looking for a legitimate company to fund you as you await your claim settlement, you’ll encounter myriads of choices that might leave you confused. One of the leading companies is LawCash Financial. It has served clients for almost two decades, and numerous plaintiffs have benefited from their financial relief.
About LawCash Financial
LawCash was established in 2000 and is currently among the longest-serving lawsuit funding agencies. The company advances its financial boost to anyone with a personal injury claim. Just like Silver Dollar Financial, you’re not subjected to any payments or initial fees until you get a favorable case outcome. The only qualifying factor for a LawCash lawsuit loan is that you’re working with an attorney on your legal claim.
The company uses rolling contracts, a concept that makes it one of the most competitive. It also lets plaintiffs take advance payments either every month or over time. Besides pre-settlement loans for daily living expenses, you can also apply for settled case funding, attorney fees, and medical care funding.
Another top feature that sets the Missouri-licensed lender apart is that the company is among the founding members of the American Legal Finance Association (ALFA). Generally, the guiding group enforces lending best practices among members throughout the industry. Here are more facts regarding the company’s pre-settlement funding:
- The advance ranges from $500 and above. The website doesn’t mention a maximum cap.
- An approval time can be as soon as 24 hours.
- You’re funded directly.
- Their lawsuit funding focuses on car accidents, premises liability, personal injury, FELA, Jones Act, Civil rights, labor law, police brutality, sexual abuse, workers’ comp, employment, NFL concussion, product liability, and wrongful death.
- Non-recourse funding allows you to not have to re-pay the loan if you don’t win the case.
How Do LawCash Lawsuit Loans Work?
Much like Silver Dollar Financial, LawCash lawsuit loan arrangements don’t involve pursuing repayments from your finances or bank account. Rather, the lender only parts with the exact fraction of the compensation package you agreed upon after the lawsuit.
The lawsuit funding company also doesn’t provide a maximum limit on their loan amounts, and this leaves room for massive sums that will sustain you even if your claim is against an established entity. But the fact that there’s no maximum cap would leave you worried about a massive chunk of the settlement amount taking care of the loan repayment. Fortunately, you’ll not pay a dime if the lawsuit doesn’t end in your favor.
The lawsuit funding agency funds a variety of cases. Provided you’re a plaintiff, an attorney is working on your claim, and you qualify for a fair compensation package when the judge or jury resolves your case, it’s possible to get the financial buffer offered by the company. LawCash has financed plaintiffs awaiting the conclusion of cases like:
- Employment law disputes
- Vehicle accident claims
- Construction and workplace accidents
- Lass auction lawsuits
- Medical malpractice
- Wrongful death
What Does the Rolling Contract Entail?
LawCash relies on the Rolling Contract system which means that, in essence, plaintiffs receive minor cash disbursements over time. The main attraction to this system is that it could lower your overall loan interest. Furthermore, applicants also opt for it because it acts as a “steady” income source as they await their claims to conclude.
But as lovely as the system may sound, it’s recommendable to speak with an experienced accountant or lawyer before considering this approach. Numerous previous clients have complained about high compound interest rates.
Beware the Compound Interest Rate!
LawCash has one major setback: the company uses the compound interest method to determine the financing cost in most of their funding offers, or at least some. While it’s common to find lawsuit companies charging a loan interest, only a few reliable ones like Silver Dollar Financial will subject you to a simple interest rate.
Most plaintiffs don’t prefer compound interest because when the settlement goes on longer than you expect, you may pay more than you imagined! Compound interest rates are excellent for investment projects. But if you’re borrowing, you’re highly likely to be on the losing end.
The main reason to opt for pre-settlement funding is that you aren’t sure when your case will settle. This means compound interest will be a trap. Instead, go for companies like Silver Dollar Financial that charge a relatively fair simple interest rate.
What Do LawCash Clients Have to Say?
The company has been serving plaintiffs for over two decades. But there are only a few customer reviews on the web. This is a bit problematic to most potential clients and can be a massive shortfall in credibility.
LawCash boasts a middling Trustpilot score, but the company has only one review on the platform. Other ratings on reputable sites include:
- Yelp Rating: – 1.0/5.0
- Google Rating– 3.6/5.0
- BBB Average Customer Review– 2.67/ 5.0
- BBB Rating – A+, Accredited business
- BBB Complaints – None
Client review is among the areas that LawCash needs to work on. The company’s bad performance on crucial review sites puts its legitimacy to the test. A possible cause of the confusion is the fact that the agency recently rebranded from LawCash.net to the current name.
Get Trusted Lawsuit Loans Fast with Silver Dollar Financial
LawCash ranks among the leading legal funding providers and has a commendable history of lawsuit funding. However, it lacks client reviews and a maximum loan limit, and the fact that it doesn’t publicize its industry association membership can be troublesome. But why search elsewhere when you can count on Silver Dollar Financial?