Most business goes to Prefered Capital funding through referrals, and they claim they were the first lawsuit loan provider in the nation. They provide funding in several states, and approval rates range from 24 hours to several business days. They provide funding for FELA, car accidents, premises liability, wrongful death, medical malpractice, dog bites, construction accident, employment, and workers’ compensation.
They state they have an advance range of $500 to $500,000 in direct funds. Preferred Capital Funding has four office locations in different states.
What Do Their Clients Say?
The reviews on Google get them a 3.5-star rating and 1 star on Yelp. The good reviews focus on how quickly they received funds after approval. BBB has had one consumer complaint in the last three years with a 3.29-star rating.
Many customers were hung up on, spoken to in condescending ways, and even came to tears.
What Are Clients Saying About High Rise Financial?
Our clients love us and make sure the internet knows about our stellar customer service and compassion. We have easy-to-understand contracts with no hidden fees and offer legal funding across the country. We can help you receive money at various stages of your legal case so you can focus on your healing and never take a settlement lower than what you deserve.
Another benefit that customers love is we assign one dedicated account manager, so you have privacy and are constantly working with the same person.
Is Pre-Settlement Funding Right for You?
When you are in a personal injury case, you can seek legal funding, which is cash now to pay your bills, legal fees, medical expenses, and more while you wait for your case to settle. Everything has pros and cons, but the pros outweigh the cons in legal funding situations. Among the pros is easing financial pressure by providing money when needed.
Some cases can take years to settle, leaving you without money for an extended period. You will also benefit because you can get a more significant settlement in the future. Insurance companies pressure individuals with financial strain to take lowball offers, but you do not have to when you have legal funding.
A pre-settlement loan is also vital when you cannot work from your injuries, so you need a source of income.
What Is the Difference Between Recourse and Non-Recourse?
When comparing legal funding companies, you must ask yourself several questions. One thing to consider is whether the loan is recourse or non-recourse. Loans can have either structure, but a recourse loan is not favorable.
Recourse loans have lower interest rates, but failing to pay obligations is detrimental. The lender can go after personal assets and more if the collateral does not cover the value of your loan. Ensure you are getting a non-recourse loan to walk away without worrying about paying the loan back from personal income and assets.
Non-recourse loans benefit you because we cannot touch your assets and only receive payment from your settlement agreement. The risk is for the lender, and some will not want to take that on when a case is very complex. High Rise Financial offers non-recourse loans.
Are There Interest Rates?
Interest rates are part of every loan, and when looking for a lending company, you should review their interest rate. You want a non-compound loan with a low-interest rate.
Interest rates depend on several factors, like your case and your damages. The industry standard for pre-settlement loans is between one and four percent.
In rare cases, your interest rate is above the industry norm, and you should ask for details about why. You should also look for capped interest rates so you are not paying back more than you settle for. Ensure the loan provider has a capped interest meaning they stop adding interest after a specific period.
Will the Funding Company Work with My Lawyer?
An essential part of legal funding is having legal representation. Some lawsuit loan companies will try to take your lawyer out of the picture, which is bad business. High Rise Financial is a reputable legal funding company, and we will work with your lawyer to determine your case worth and eligibility for lending.
If the loan provider does not ask for your attorney information and does not want to work with them, that is a major red flag, and you should go elsewhere. Your lawyer is responsible for paying the loan back. If the funding company does not want their information, they are up to something nefarious.
What Are the Terms and Conditions?
When you take out a loan for a car, tuition, or home, there are terms and conditions you must read and agree to. Legal funding also has terms and conditions in their contracts for you to agree to, including information regarding interest rates, repayment duration, collateral value, guarantees, and more. You must understand what you are signing, and your attorney will often review the terms.
The terms will outline each party’s responsibilities and compliance with state and federal regulations. Our representatives are happy to explain our terms and conditions to you.
What Legal Funding Does High Rise Financial Offer?
Legal funding is primarily for personal injury disputes between individuals and other parties. We offer legal funding for all personal injury claims, such as:
- Wrongful death
- Truck accidents
- Motorcycle accident
- Car accidents
- Labor law disputes
- Slip and falls
- Spinal cord injury
- Pedestrian accidents
We offer legal funding across the country and you can file an application for free. We will gather general information about you and your case and then confer with your lawyer. Once we have all the necessary documentation, we will approve your loan and send your funds.
Apply for a Pre-Settlement Loan Today with High Rise Financial
If you are in a financial pinch and you need money while you are waiting for your lawsuit to settle, High Rise Financial is here to help you. We offer different funding options and flexibility.
You have a dedicated representative throughout your account, so give us a call and get started today. Complete an application for legal funding online.