When you are waiting on a pending settlement, you know that compensation doesn’t always move at the speed you need it to. Settlements can take a long time to hash out, meanwhile, you’re still faced with the urgent financial needs that led you to file suit in the first place. When you need your money from your settlement now, pre-settlement funding can help.
Pre-settlement funding or lawsuit loans are provided through a number of lenders throughout the country. Below, we’ll dive into the popular lender US Claims and see how their pre-settlement funding stacks up against Silver Dollar Financial.
What Is US Claims’ Pre-Settlement Funding Process?
Much like any other pre-settlement company, they furnish funding for a wide variety of legal areas, though they tend to specialize in slip and fall, medical malpractice suits, worker-related issues, and a few other legal niches. Their website promises an easy application process, and that a settlement advance will be delivered within 24 hours of your case being approved. They make heavy claims about the process being incredibly easy on you, as they work with your attorney to find the best plan for your funding.
US Claims was founded in 1996, and they are very proud of their long-standing record in the pre-settlement funding industry. They are one of the most frequently used firms for lawsuit loans in the country, and they’ve received a number of awards from The American Legal Finance Association and The New York Law Journal.
What do US Claims’ Customers Say?
The customer reviews of US claims are generally positive, with a large number of people entirely satisfied with their lawsuit loans. The business currently has a 4.6/5 rating on TrustPilot. There are, however, startlingly few reviews that exist for a company that is supposed to have so much history.
Despite being in business for 25 years, US Claims has just a handful of reviews on TrustPilot and Google, and no reviews on any of their virtually abandoned social media. Many of the reviews that exist are positive but among so few reviews, those where customers talk about waiting weeks to get a decision on approval or being promised more than US Claims could offer end up standing out a lot more. It should at least raise an eyebrow that among so little engagement with US Claims online, there are frequently negative comments.
The company does in fact seem to make no promise of approval speed, only promising on their site that funds will be delivered within 24 hours of your approval. Many other concerns brought up in reviews are not covered in any documentation US Claims provides, such as the total interest rate they charge. While US Claims claims to be a big player in pre-settlement funding, they have more customer testimonials written on their site than on the rest of the internet combined.
The Important Factors in Choosing a Pre-Settlement Funding Company
Every lawsuit is unique, and your needs are likely to differ from other people who may seek pre-settlement funding. Still, everyone seeking compensation has some sort of financial need, so there are a few things that are universally important for people to look for in a lawsuit loan company.
The entire reason that you need pre-settlement funding is that you have urgent needs now. If you’re incurring huge late penalties or interest, or even facing eviction or foreclosure, you need access to funding now so that you don’t need to desperately rush into a foolish settlement. As US Claims has several reviews discussing waiting weeks for approval, they may not always be able to provide the reliability of a more timely company.
When you utilize the services of a pre-settlement funding company, you shouldn’t be solving one problem by creating another. You need firm timelines for every step of the process, and you need to be able to count on your lender to follow through with what they promise. Above all, you need a lender who can get you approved and funded quickly.
Just like you want your attorney to be frank with you, you need to be able to rely on your lawsuit funding company to come through for you. When customers say that a funding company was quick to promise things early in the process and then fail to deliver like is the case with US Claims, that can be a problem. You don’t want unexpected problems with your money, and so you need reliable information from your lender.
What Is Pre-Settlement Funding, and How does It Work?
Pre-settlement funding is a type of non-recourse loan where you seek funding using a portion of your potential settlement from a lawsuit as collateral. Once your settlement is finalized, the loan is paid back directly from your award. Because it is a non-recourse loan, you cannot be held personally responsible for any debt beyond the collateral, meaning you pay nothing if there is no settlement reached.
During the settlement process, opposing attorneys may utilize delay tactics to slow down your settlement. They know that you have needs now, and a longer wait for a settlement means that you’ll potentially agree to a lower amount out of desperation. Pre-settlement funding takes that power away from the opposition by giving you the funding that you need now so that you can negotiate the best settlement possible.
US Claim funding process, much like Silver Dollar Financial’s, is easily accessible online. Since a pre-settlement loan is based on your settlement, applying for one only requires a few details from your case and rarely needs to involve your credit. The web reviews of US Claims do seem to indicate that many satisfied customers have gotten the funding they needed through them, but often shine a spotlight on some less than ideal parts of their process.
Choose Silver Dollar Financial for a Quick and Reliable Experience from Start to Finish
At Silver Dollar Financial, we know that you wouldn’t be seeking pre-settlement funding if you could wait any longer. Unlike US Claims, our team prioritizes the approvals process, getting approvals for most claims within 24 hours. Rather than taking a week to come to a decision, we get right to processing your application so that funding can get into your account as soon as possible.
We help people every day get the funding they need to take care of their needs now while their settlement processes. Contact us today if you have any questions about how we can help you get the funding you need.