When you’re in the middle of a lawsuit, the bills don’t stop coming. There are dozens of companies that say they’re willing to offer pre-settlement financing to borrowers, but not all of them are worth your time.
Is Golden Pear Funding one of them? We looked through web reviews of Golden Pear Funding to see what we could discover. We believe it’s important to know all of your options because many people know little about this type of financing.
What Is Golden Pear Funding?
Golden Pear Funding, like our company, offers “consumer litigation funding” to borrowers who need money from their settlement before they win their case. They claim they can deliver money within 24 hours for borrowers who need less than $3,000, but we did not see how much cash you could get.
They’ve been in business since 2008 and claim to have funded $600,000,000 during that time for over 54,000 clients, attorneys, and physicians. Part of their appeal for law firms is their Medical Access Pass system.
This system helps law firms source, manage, and track the medical care of their clients. It’s certainly a unique offering, but one that’s not so relevant to plaintiffs. However, their eFunding system can help you get your cash much faster and directly into your account instead of with a check.
What Cases Does Golden Pear Take?
From their FAQ page, Golden Pear Funding accepts the following case types:
- Motor vehicle accidents
- Pedestrian injuries
- Third-party workers’ compensation
- Construction accidents
- FELA (railroad)
- Jones Act (maritime)
- Labor laws
- Slip and fall
- Medical malpractice
- False arrests
- Police brutality
- Premises liability
- Product liability
- Wrongful death
- Wrongful imprisonment
- Dog bites
This list covers the major case types that lenders accept in our field, so there’s no real surprises here. It’s important to check if a lender will accept your kind of case before you approach them, just so you can avoid facing any denials.
What Are Golden Pear Funding’s Loans Like?
From what we’ve gathered from their web reviews and website, Golden Pear Funding requires you to have a pending personal injury case and evidence you’re working with an attorney. They also require you to be over the age of 18.
They also mention that they offer their loans on a non-recourse basis, like ours. They also claim no monthly payments or upfront payments and also offer post-settlement financing.
However, they mention nothing about their interest rate amounts nor whether they charge simple or compound interest. This means that you’ll need to read the fine print carefully before agreeing to any loan with them. Otherwise, you could face a big payment at the end.
What Does the Web Say About Golden Pear Funding?
Golden Pear Funding does have a review page on their website, but it’s almost certain those reviews are self-selected. Let’s see what some other sites say.
- The BBB gives them a customer review rating of one star, but there is only a single review there.
- Trustpilot has 152 reviews and gives the company a 4.6/5.0 rating.
- Google gives them a 4.2 rating out of 5, with 41 reviews.
The negative reviews mostly revolve around slow response times and high interest rates, but there are also many positive reviews about their customer service. With little public information about their rates, it’s hard to tell if they’re charging too much or not. We can confirm they are not a current member of ALFA, which means they may not conform to their code of conduct.
Our Verdict on Golden Pear Funding
Based on the information we’ve gathered from public sources, which we did in July 2021 when this was written, here’s what we think about Golden Pear Funding’s web reviews. While they do seem to be similar to our company, we encourage you to read the fine print carefully.
For most plaintiffs, the biggest worries are how fast they can get their funding and how much will they have left over after they win. Golden Pear Financing seems to have solved the first problem, but if the interest rates are too high then they won’t fulfill the second.
If you choose to go with them, go over the contract carefully with your lawyer and do some calculations on the interest. Always know what you’re getting into and how it could come back to bite you if your case takes too long!