A legal funding broker acts as an intermediary. The broker handles communications between a plaintiff and a law firm relating to legal funding. It ensures all parties involved in a legal funding request know what to expect and get the support they need.
At High Rise Financial, we are a pre-settlement legal funding company – not a broker. We help clients get pre-settlement funding any time they need it and ensure they receive plenty of support along the way. To understand why we are a superior choice for pre-settlement funding, we offer answers to common questions about legal funding brokers.
In This Article
- What Is a Legal Funding Broker?
- How Much does It Cost to Hire a Legal Funding Broker?
- Which Option Is Better: Working with a Legal Funding Broker or a Lawsuit Loan Company?
- Should I Reach Out to a Legal Funding Broker?
- Do I Need to Hire a Legal Funding Broker to Get a Lawsuit Loan?
- How Can I Get Started with a Lawsuit Loan?
What Is a Legal Funding Broker?
A legal funding broker offers support with lawsuit loans. It gives the plaintiff and lawyer involved in a legal funding request access to a third party it can use to address any concerns or questions. The broker ensures the needs of all parties involved in a pre-settlement funding request are met.
Some of the responsibilities of a legal funding broker include:
- Preliminary evaluation to determine if there is an individual is a good candidate for a lawsuit loan
- Collecting paperwork from an attorney relating to their client’s lawsuit loan request
- Negotiating lawsuit loan terms and conditions
- Ensuring a lawsuit loan gets paid after a case is settled
Some people believe choosing a legal funding broker can make the lawsuit loan process faster and more efficient than ever before. However, choosing a proven lawsuit loan company can make a world of difference. This business operates with speed and precision – and it will not require an individual to pay any legal funding broker fees.
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How Much does It Cost to Hire a Legal Funding Broker?
The cost of a legal funding broker varies. In some instances, a broker can deduct around 15% of a settlement to cover their fees. The amount a broker is paid is determined before this individual is hired and a plaintiff receives their lawsuit loan.
Before hiring a legal funding broker, it helps to reach out to a lawsuit loan company directly. This gives a person a good idea about what the business offers and if the company can fulfill its pre-settlement funding request. It also allows this individual to ask questions and get insights to make an informed decision.
In addition, an individual should not rush through the process of hiring a legal funding broker. Instead, it is beneficial to consider the benefits of working directly with a lawsuit loan company. If an individual chooses a pre-settlement funding company over a broker, it may prove to be a great financial decision now and in the future.
Which Option Is Better: Working with a Legal Funding Broker or a Lawsuit Loan Company?
There are many reasons to choose a company that specializes in lawsuit settlement loans over a legal funding broker. These include:
A lawsuit loan company offers a flexible interest rate on its pre-settlement funding. It does not charge any other fees. Comparatively, a legal funding broker adds to the cost of a lawsuit loan, even though the lawsuit loan company can handle all aspects of a person’s pre-settlement funding request.
The best pre-settlement funding company offers convenient access to friendly, knowledgeable lawsuit loan specialists. If a person has a question about a lawsuit loan, these specialists can respond to them. This ensures an individual can get immediate assistance with their pre-settlement funding.
Selecting a top-notch lawsuit loan company ensures an individual can seamlessly navigate the pre-settlement funding process. The company helps people receive pre-settlement funding right away. It even offers an easy-to-follow lawsuit loan application.
Expect outstanding results from a lawsuit loan company. With this business at a person’s side, an individual can receive pre-settlement legal funding without the need for a broker. This individual can reap the benefits of their lawsuit loan and use it to cover their costs over the course of their litigation, too.
Should I Reach Out to a Legal Funding Broker?
Getting in contact with a legal funding broker may prove to be more trouble than it is worth. Contacting a legal funding broker allows a person to learn about lawsuit loan options. Conversely, it is in a person’s best interest to get this information directly from a pre-settlement funding company.
A lawsuit loan company has pre-settlement funding specialists on staff who encourage people to reach out. These specialists are ready to respond to any questions about lawsuit loans. They can provide details about how pre-settlement funding works and offer custom lawsuit loan options.
If a person wants to move forward with a lawsuit loan, a pre-settlement funding company can help this individual get started. The company can explain the application process and review a person’s submission. From here, this individual can receive a lawsuit loan quote; if accepted, a pre-settlement funding request can be finalized, and a check can be sent in the mail.
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Do I Need to Hire a Legal Funding Broker to Get a Lawsuit Loan?
A legal funding broker is not required to obtain a lawsuit loan. Those interested in pre-settlement funding can reach out to a lawsuit loan company. This allows an individual to explore pre-settlement funding options without a legal funding broker.
Resist the urge to hire a legal funding broker based on claims that this individual is necessary. A pre-settlement funding company can handle the same requests as a legal funding broker. At the same time, this company will help an individual keep its legal funding costs low.
Keep in mind that a pre-settlement funding company is available to offer assistance, even after a person gets their lawsuit loan. The business wants its clients to feel comfortable with their pre-settlement funding. As such, the company is happy to help its clients in any way possible.
How Can I Get Started with a Lawsuit Loan?
High Rise Financial offers lawsuit loan assistance to those in the midst of personal injury cases and other types of lawsuits. Our team can help you complete our lawsuit loan application. For more information, please contact us today.