If you’ve started to research lawsuit loan lenders, you’ll quickly find that there are many companies that want your business. One such lender is Momentum Funding.
How long has the company been in business? What do Momentum Funding’s web reviews say? And lastly, how does Momentum Funding compare to Silver Dollar Financial?
An Overview of the Lawsuit Loan Industry
Most lawsuit loan companies work the same way. Legal cases can drag out, sometimes for months or even years. Many people will need money before they receive their settlement, so they apply for a loan. If approved, this loan is then paid back after the attorney secures their settlement.
Both Momentum Funding and our company, Silver Dollar Financial, provide lawsuit loans to clients who have pending legal cases. This type of loan is also referred to as pre-settlement funding, a pre-settlement loan, and a cash advance against a settlement. Momentum Funding also refers to their services as Plaintiff Funding.
Both Momentum Funding and Silver Dollar Financial offer lawsuit loans for most personal injury cases, including:
- Car, truck, and motorcycle accidents
- Slip and fall injuries
- Product liability cases
- Medical malpractice
- Dog bites
- Pedestrian and bicycle accidents
Where lawsuit loan companies vary, though, are areas like customer satisfaction, transparency, and loan limits.
Momentum Funding’s Better Business Bureau Profile
According to the Better Business Bureau (BBB), Momentum Funding has been in business since December 12, 2014. Momentum Funding is a limited liability company based in Boca Raton, FL. They received BBB accreditation on April 27, 2016.
Momentum Funding has a BBB rating of A+. However, potential customers should know that “Customer Reviews are not used in the calculation of BBB Rating.”
The company’s Customer Review rating is 3.09/5. There are numerous one-star reviews, including the following comment left by Melissa L on May 01, 2020:
“If I could leave zero stars I would. Worst customer service I’ve ever seen and I turned down their ‘help’ and then he was even more rude. Pushy and condescending. [A]lso threatened me. Do not use this company!!”
Momentum Funding’s Facebook Reviews
Momentum Funding has a mix of “Recommends” and “Doesn’t Recommend” Facebook reviews. On March 12, 2020, one customer noted some inconsistencies in customer service:
“They were a FIVE STAR whenever Nic Pina was the agent providing me with funds. Now That Alec Grennan has my file, they are definitely a ONE STAR some loan officers are Great with their jobs and some are not[.]”
Momentum Funding’s Google Reviews
Momentum Funding currently has a 4.2/5 star rating on Google. The company has received numerous one-star and two-star reviews.
Two constant themes throughout these Google reviews are slow communication and a lack of communication.
“They have given me a run around for a week [and] still no answer. My worker is Valerie and she can not be bothered to answer [the] phone and thanks to them I am forced from my home for nonpayment. If they would have answered a week ago and just said no I could have tried something else but not this company. . .” – Stacey Johnson
“Did not help at all!!!!! Made me wait a long time just to say NO!!!!!” – Natasha Wright
Momentum Funding vs. Silver Dollar Financial
Now that we’ve taken a look at some of Momentum Funding’s online reviews, let’s compare them to Silver Dollar Financial. We’ll go over key areas such as loan limits, credit checks, and employment verification.
Momentum Funding’s Lawsuit Loan Limits
Momentum Funding’s FAQ states that they can, “[F]und any amount of money depending on the type of injury and case you have.” While no loan limit sounds like a fantastic deal, it is anything but. You don’t want to be stuck with a loan that is more than your settlement, because you’ll be responsible for paying off the difference with your own money.
At Silver Dollar Financial, we take a more cautious approach to loan limits. Our company strives to help our clients, not to put them further in debt. We cap our pre-settlement loans at $100,000.
Momentum Funding and Credit Checks
Momentum Funding’s FAQ claims that your credit score “does not matter.” However, on a Google review, Danielle Gripper stated that the company “did a HARD PULL on my credit.”
We are completely transparent about our processes. At Silver Dollar Financial, not only does your credit rating not matter to us, but we won’t check your credit. Our decision to approve your pre-settlement funding is based solely on the merits of your legal case.
Momentum Funding and Employment Verification
Momentum Funding’s FAQ does not address whether or not they perform employment checks for lawsuit loans.
We know that your injuries could keep you from working. That’s why Silver Dollar Financial does not perform employment verification on you or anyone in your household.
Lawsuit Loan Repayment
If your case goes to trial, there’s a chance that the judge or jury will see things differently than we do. Unfortunately, there’s always the risk that you could lose your case, no matter how airtight things seem.
Both Momentum Funding and Silver Dollar Financial offer non-recourse loans. That means that if you don’t win a settlement, you don’t have to repay the funds.
Why Silver Dollar Financial Is the Clear Winner
Momentum Funding’s web reviews speak for themselves. At Silver Dollar Financial, we’ve built our business around transparency and customer service. When you apply for a cash advance against your settlement, you can expect the following:
- Fast approval, often within 24 hours. And if we can’t help you, we’ll let you know. Unlike other lawsuit loan lenders, we won’t keep you waiting for days or even weeks.
- Professional customer service. We would not exist without our customers. You will always be treated with respect and courtesy.
- Easy access to your funds. If you’re approved for a lawsuit loan, we deposit the funds directly into your bank account. No waiting for the mail, or making a special trip to a Western Union location. You can access your money by writing a check or using your debit card.
Apply for a Lawsuit Loan with Silver Dollar Financial Today
It is free to apply for a loan. All it takes is a few minutes of your time, so contact us online or call.