After suffering injuries or damages caused by someone else’s actions, holding them accountable civilly may be one of your top opportunities to recover the compensation you are entitled to. However, the claims process is often far more complex and takes longer to resolve than many plaintiffs realize.
While you wait for your attorney to handle the legal details of your case, you may be looking into lawsuit loan companies for financial relief. In your search, you may have stumbled across Baker Street Funding.
Our loan specialists at High Rise Financial have taken the time to analyze Baker Street Funding’s web reviews to determine whether they are a good option for those seeking the financial help they need. Unfortunately, although there are some advantages, Baker Street Funding has several disadvantages you should be aware of before you sign on the dotted line.
Web Reviews for Baker Street Funding
Selecting the right lender for your lawsuit loan can be challenging. Every loan company is going to seem like a good option when you are struggling financially. However, at High Rise Financial, we take pride in looking out for our clients.
We want you to feel confident in your decision to go with our team. With this in mind, we take the time to carefully review our competitors. Many people interested in pre-settlement fundinglook to the boutique lawsuit loan company in New York known as Baker Street Funding.
Baker Street Funding has many positive reviews online. However, as you dig into the reviews and start to really consider whether Baker Street Funding is right for you, you may find some alarming reviews that may make you reconsider your choice and start thinking about other lawsuit loan companies.
Pros of Baker Street Funding
There are multiple pros of choosing Baker Street Funding for your lawsuit loan lender, according to recent online reviews. Some of the top reviewers noted:
- The opportunity to consider your options
- Being able to talk to an actual person when you call
- Getting loan approval quickly
- Lower interest rates than other competitors who are charging compound interest
- The opportunity to access up to $10 million in legal funding
Although there are many advantages to Baker Street Funding, if you pass over the glowing five-star reviews, you will find more unhappy reviewers coming out of the framework.
Cons of Baker Street Funding
Web reviewers may know of several disadvantages of choosing Baker Street Funding for their lawsuit loan needs. Some notable complaints by applicants included:
- Substantial fees
- Poor customer service
- Embellishing potential pre-settlement payouts
- Lack of fee transparency
- Only accept certain types of cases
- Certain cases must be valued at minimum dollar amounts
- There are strict location restrictions
Baker Street Funding will not provide lawsuit loans for personal injury, civil claims, and labor or employment law violations for a majority of the United States – 42 states to be more specific. Additionally, individuals seeking lawsuit loans for worker’s compensation claims may only be able to do so if they are located in:
- Rhode Island
Additionally, certain states have minimum case value requirements, including:
- Arizona cases require a minimum $200,000 case value
- Colorado cases require a minimum $750,000 case value
- Illinois cases require a $400,000 case value
- Nevada cases require a minimum $200,000 case value
- North Carolina cases require a minimum $250,000 case value
- South Carolina cases require a minimum $1 million case value
- Tennessee cases require a minimum $100,000 case value
What Makes High Rise Financial a Better Option
If you are looking for a lawsuit loan lender you can rely on to provide you with the financial support you need at a time when your life is in chaos, High Rise Financial may be the ideal choice. Here is why:
We Are Transparent
Many lawsuit loan recipients who did reviews for Baker Street Funding and other lawsuit loan companies report concerns with fee transparency. The last thing you need is to sign on the dotted line only to discover that the amount you are expected to pay back is significantly greater than you were expecting. Once you are approved for a lawsuit loan, you will know exactly how much you are going to be expected to pay back when your settlement funds come in.
We Have the Resources to Meet Your Needs
There are many lawsuit loan companies out there that minimize the amount that they are able to authorize in legal funding. Some lenders take a more conservative approach and will only grant up to 10% of your anticipated settlement payout. Other lenders, including Baker Street Funding, take a more aggressive approach.
Baker Street Funding currently allows for payments up to $10 million. Although High Rise Financial does not typically issue lawsuit loans that high, we have the resources to approve our clients for approximately 20% of their anticipated payout or as much as $1 million. If you need more than that, we may be able to meet your needs after learning more about the specific details of your case.
Our Lawsuit Loans Are Non-Recourse
There is never any requirement that you will be expected to pay back your pre-settlement funds if your lawyer does not successfully win your case. Our laws are non-recourse.
The only way you can pay them back is with your settlement funds. Even if you attempted to pay back the loan with your own personal income or other finances, we would not be able to accept it, as the loan is contingent upon your settlement funds. We understand the risk, and since there is no risk to you financially, choosing High Rise Financial for your pre-settlement funding could be the perfect fit.
Reach Out to High Rise Financial Loan Specialists for Help Today
Baker Street Funding may not be the best option for your lawsuit loan. Their strict eligibility requirements, poor customer service, and lack of transparency may leave you feeling confused and unhappy with your lawsuit loan settlement payout.
However, when you need a lender you can count on, look no further than High Rise Financial. You can fill out an application, call us, or complete our quick contact form to access your legal funding in 24 hours or less.