Anyone who is in need of a lawsuit loan has many options available to them. One lawsuit loan lender in operation today is Nova Legal Funding.
How long has Nova Legal Funding been in business? What do past customers say about the company? And lastly, how does Nova Legal Funding compare to Silver Dollar Financial?
An Overview of the Lawsuit Loan Industry
Both Nova Legal Funding and Silver Dollar Financial provide lawsuit loans to clients who have pending legal cases. This type of loan is also called pre-settlement lending, a pre-settlement loan, and a cash advance against a settlement.
Most companies in the lawsuit loan industry work in a similar way. If you need money now and can’t wait until your lawsuit settles, you may apply for a loan. If approved, this loan is then paid back after your attorney secures your settlement.
Both Nova Legal Funding and Silver Dollar Financial offer lawsuit loans for personal injury cases such as:
- Motor vehicle accidents
- Slip and fall accidents and other premise liability cases
- Product liability
- Medical malpractice
- Dog bites
- Pedestrian accidents
Where lawsuit loan companies vary, though, are areas like customer satisfaction, transparency, and loan limits.
Nova Legal Funding’s Better Business Bureau Profile
According to the Better Business Bureau (BBB), Nova Legal Funding has been in business since August 1, 2015. The Limited Liability Company has been accredited by the BBB since January 12, 2017. Nova Legal Funding has the alternate business name, “Wellworth Lawsuit Funding LLC.”
While the company has an A+ rating, potential clients should be aware that, “Customer Reviews are not used in the calculation of the BBB’s Letter Grade Rating.”
Nova Legal Funding’s BBB customer review rating is 3.57/5 stars. There are multiple 1-star customer reviews. On May 19, 2021, a customer left the following review:
“BEWARE: SCAM! . . . They prey on vulnerable people in dire circumstances. The agreed upon figures over the phone are substantially higher on your contract in FINE PRINT. Please, READ THE FINE PRINT. . .”
Nova Legal Funding Facebook Reviews
On Facebook, Nova Legal Funding has a 4.2 out of 5-star rating. On August 6, 2020, one customer left this review:
“This place loans money but gives you the run around! They had me sign a contract then backed out after I signed. Not professional at all and a very sketchy and unregulated biz. I call them “Loan Sharks”. Just my opinion!”
Nova Legal Funding vs. Silver Dollar Financial
Now that we’ve covered some of Nova Legal Funding’s web reviews, let’s take a closer look at what they offer. How does Nova Legal Funding compare to Silver Dollar Financial in several key areas, such as loan limits and consistent information?
What are the Lawsuit Loan Limits for Nova Legal Funding?
It is unclear what Nova Legal Funding’s actual loan limits are. Information throughout their website is inconsistent and contradictory.
- Their main website states that you could have “$500 to $100,000 in your bank account by tomorrow . . .”
- However, on the state-specific web pages for Virginia and Washington, it says, “Nova can fund anywhere from $500 up to $2,500,000 depending on case value.”
- And lastly, the web page titled, “Ask Yourself: Is Legal Finance Right for Me?,” states that, “Funding [is] available from $500 to $5,000,000 (depending on case value).”
At Silver Dollar Financial, we are transparent about our loan limits. We offer loans up to $100,000. A loan limit is important because you don’t want to end up with a loan that is greater than your settlement.
Pre-settlement funding is designed to be a cash advance from your future settlement, rather than an early payout of your entire settlement. Our company exists to help people, not to put them further in debt with a loan they won’t be able to pay off.
Does Nova Legal Funding Perform Credit Checks?
Nova Legal Funding doesn’t perform credit checks, and neither do we.
At Silver Dollar Financial, our main concern is the merits of your legal case. That means we don’t care if you have bad credit or no credit.
Does Nova Legal Funding Verify Employment?
Nova Legal Funding states that they do not verify employment. Silver Dollar Financial does not verify the employment of you or anyone in your household. We know that your personal injury may prevent you from working.
Our lawsuit loans provide much-needed funds for expenses such as:
- Rent or mortgage payments
- Car repairs
- Transportation expenses such as gas, taxi fares, rideshare fees, and bus passes
- Tuition fees and other education expenses
- Medical bills
- Any other day-to-day expenses
At Silver Dollar Financial, we do not place any spending restrictions on your lawsuit loan. The money is yours to spend as you see fit.
How does Nova Legal Funding Get Loans to Its Customers?
Nova Legal Funding states that they distribute funds via, “money wire, Western Union, and checks delivered overnight via FedEx.”
When you obtain a loan through Silver Dollar Financial, your funds will be securely deposited into your bank account. We know that you may not be able to travel to a Western Union location or wait around for a FedEx delivery. Accessing your funds is as easy as writing a check or using your ATM or debit card.
Do You Have to Repay a Lawsuit Loan if You Don’t Win Your Case?
Both Nova Legal Funding and Silver Dollar Financial offer non-recourse loans.
At Silver Dollar Financial, we know that in a perfect world justice would prevail and our customers would get the settlements that they deserve. But unfortunately, not everyone who pursues financial compensation after an accident or injury will receive any money. If your attorney is unable to secure a settlement for you, you owe us nothing.
We believe that pre-settlement funding should never be a burden or put you further in debt. That’s why we carefully evaluate each and every application for strong legal merit.
The Silver Dollar Financial Difference
Silver Dollar Financial is the clear winner if you’re looking for a lawsuit loan lender that offers consistent information and immediate access to your funds. Contact us today to get started on your free, no-obligation lawsuit loan application.