5-Star Legal Funding offers non-recourse legal funding and sends funds directly to customers. They have an advance range of 10 to 15% and an interest rate of 16% every six months. You can get approval within one business day for personal injury cases.
Most U.S. states offer settlement loans, attorney, and surgical funding. One guarantee they offer is you will only pay back up to double your advance amount. Their home base is in New York, and they have been in business for 16 years.
What Do the Reviews Say About 5-Star Legal Funding?
Currently, the company has a 3.9-star out of 5-star rating on Google, with several one-star reviews from unhappy customers. The biggest complaint is the high interest and poor customer service, but other reviews praise their experience. They do not have ratings on Yelp or BBB Customer reviews.
5 Star legal funding is not BBB accredited and has not had any complaints for the last three years.
How Does High Rise Financial Compare to 5-Star Legal Funding?
We are based in California and offer loans to injury victims across the United States. We offer non-recourse legal funding and pre-settlement loans with fast approval rates. While we focus on personal injury funding, we also provide surgical funding.
We can offer up to $1 million in funding for clients who meet our qualifications. Our contracts are easy to understand and have no hidden terms or conditions. We only offer simple interest on loans instead of compound interest.
What Should You Consider in a Legal Funding Company?
We offer a plethora of information on our services compared to other legal funding companies. You need to conduct plenty of research and consider good and bad reviews before committing to any company. When reviewing companies, you should consider your needs and type of case since different companies are better for some claims than others.
How Does the Legal Funding Company I Choose Impact My Settlement?
It is imperative that you choose the best legal funding company for your specific needs because it can shape the outcome of your case. These loans require us to take a portion of your settlement, impacting your final award.
Since these loans incur interest, you do not want to receive less than your case is worth for choosing the wrong company.
How Fast Can I Get Legal Funding?
Most legal funding companies will provide funds within hours of approval, but the process can take several days. While speed is vital for your funds, the long-term impacts are a bigger priority. You should also consider how much the company cares about your concerns and how your attorney handles your case.
You should also consider how long your lawsuit will be since the longer it is, the more interest you can incur on your loan.
How Do Interest Rates Affect My Settlement Claim?
You should research how the legal funding company sets its interest rates. They will speak to you and your lawyer to evaluate various details and determine an interest that works for your circumstances.
Some companies do not take this step and offer all clients a flat rate interest rate. Compare interest rates and their terms before choosing a company. Most interest rates are under 4% unless there are extenuating circumstances.
You must ask why you receive a higher interest rate because anything over 4% is higher than the industry standard. You must also verify whether the legal funding company offers you simple or compound interest. FYI: simple interest is better, and High Rise Financial offers them. Also, consider whether they will charge you a monthly payment, as your repayment should be from your final settlement.
How Is Pricing Set for Legal Funding?
There are hidden fees plaguing every service industry, and some fees you can expect in your legal funding claim, but others you should question. Labor fees are not typical, and you should ask why they are listed. Review all of the company’s fees and pricing and ensure you know what you’re paying for before signing a contract.
When a company is dodgy about costs, they are likely not trustworthy, and you should look for alternative options.
What Does Your Attorney Say About Legal Funding?
Local personal injury lawyers have been working with legal funding companies for years, and they know who is and isn’t suitable for their clients. You do not need their approval or referral to make your decision, but their opinion can help you. Your lawyer will work with them to pay off your funding and provide details of your case.
Something may be amiss if they do not have a good working relationship. Some states require your lawyer’s approval of the funding company to protect you from shady companies.
Should I Read the Terms and Conditions?
Read all the paperwork you get and ensure you understand everything in your contract. A reputable legal funding company will take the time to answer your questions and concerns regarding your terms and conditions.
Do they not have answers, or are they evasive? That is a major red flag, and you should look elsewhere.
Once you sign, you are in business with the legal funding company for months or years while your cases settle. The legal process is long, and you need money now for your expenses.
Why Should I Choose High Rise Financial?
We are top-rated on Google and work across the United States. Your lawsuit can be delayed for years while you are drowning in debt. High Rise Financial offers fair pre-settlement funding prices and is ready to answer your questions.
There are many benefits to pre-settlement funding, and you cannot allow the pressure of the opposing party to hinder you from getting what you deserve.
Fight back with the help of your lawyer and get the compensation you deserve. Use our pre-settlement funding options to buy yourself time while your attorney negotiates a fair settlement for you. Apply for free at High Rise Financial today.