Dealing with Insurance claims and civil lawsuits can be a trying task. You will likely continue to have financial struggles while your attorney works to resolve your case. Fortunately, legal funding is a great opportunity to access your funds when you need them without having to wait for the settlement process to be finalized.
As you consider your options for lawsuit loan lenders, one option you may be considering is Thrivest Link funding. However, before you decide to choose Thrivest funding, our team has taken a closer look at Thrivest funding web reviews to determine where they may be falling short. Here is more.
Advantages and Disadvantages of Thrivest Funding
Thrivest Link has an A+ rating from the Better Business Bureau, and many of its customers have provided glowing reviews. However, when you dig a little deeper into the Thrivest funding web reviews, you will find that there are some serious risks in choosing Thrivest as your lawsuit loan lender:
Why People Like Thrivest
There are several web reviews for Thrivest Link that rave about the services they received. Some of the most notable reviews stated that the customer service they received was impeccable and that Thrivest was always honest in their assessment of an applicant’s opportunities.
One review, in particular, stood out. The client was not ultimately approved for legal funding, but the fact that the reviewer appreciated Thrivest communicated their reasoning and did not take advantage of the client by imposing substantial interest rates should be noted. Other benefits of going with Thrivest include the opportunity to speak with a real person and obtain non-recourse legal funding.
The Problem with Thrivest
Although there may be several positive web reviews for Thrivest Link, there are also many disadvantages to choosing this lawsuit loan company. Some of the most notable issues include:
- Higher than industry standard interest rates – Some loan companies impose compound interest which can wind up costing almost as much as your initial loan. Many web reviews talked about Thrivest having higher than industry standard interest rates, which could be devastating for someone struggling financially.
- A long review process – Lawsuit loan recipients need access to their funds as soon as possible. Several reviews talked about Thrivest taking weeks or more to make a decision on the applicant’s application.
- Strict insurance requirements – There were multiple web reviews that talked about applicants being denied due to a lack of sufficient insurance coverage. This is not something we typically see with other lawsuit loan companies and could significantly limit applicants’ opportunities for loan application approval.
- Does not offer nationwide services – Service has a limited service area which means if you live in a state that they do not offer services in, you may not be eligible for a loan application approval.
Additionally, Thrivest may offer as little as 10% of your expected settlement. If you were hoping to cover your outstanding debts and get ahead, this may not be enough to help you reach your financial goals. While there may be advantages and disadvantages to going with Thrivest, web reviews suggest considering an alternative option for your lawsuit loan lender.
Why High Rise Financial Is a Top Choice
When you need a legal funding provider you can count on, High Rise Financial should be a top contender. Here is why:
We Never Charge Compound Interest
We do not charge compound interest in the same way other lawsuit loan companies do. While lawsuit loan companies can have a bad reputation for taking advantage of those in need by charging exorbitant amounts of interest, this does not happen with High Rise Financial.
There were multiple reviews for Thrivest Link that describe their significantly high interest rates. Instead of charging compound interest, we charge a flat rate. You will always know exactly what you will pay for your lawsuit loan before you accept our legal funding. That way, you know exactly how much you will need to pay back when your settlement funds come in.
Creditworthiness Is Irrelevant
Many lawsuit loan companies require the applicant to have exceptional credit. This is also true if you were to apply for legal funding through a financial institution such as a bank. However, we do not consider your credit, nor will we run a credit check in our application review.
Your credit score is irrelevant to us. What matters is whether your attorney is going to win your case and how much compensation you are expected to be awarded.
We Are Accessible
With some lawsuit loan companies, getting someone on the phone can be a hassle. There were multiple reviews for Thrivest that talked about how their calls went unreturned, and the applicants had to wait a significant amount of time before getting through to the company. However, with High Rise Financial, you can typically get a loan specialist on the phone on your first call.
There Is No-Risk
There is no risk to our lawsuit loans because they are non-recourse. You only have to pay back your loan if your lawyer wins compensation on your behalf in your civil claim or insurance settlement. If your case ultimately falls through, we will never pursue debt collection or attempt to garnish your wages.
You Can Spend Your Money However You Want To
Some lawsuit loan companies and financial institutions can restrict what you can spend your legal funding on. The same is not true when you go with High Rise Financial.
We consider this money to be yours, so you should be able to spend it however you need to. We will never restrict the purchase as you can make or monitor your funds. Once we send it to your bank, it is yours without restrictions or limitations.
Call High Rise Financial for Financial Relief Today
When you are looking for a pre-settlement loan provider you can rely on for transparency, compassion, and quick access to your settlement funds, look no further than High Rise Financial. When you are ready to fill out our application, you can apply online, call our loan specialist, or fill out our online contact form and we will reach out to you to address any of your questions or concerns.