Low-Interest Lawsuit Loans in Springfield, Ohio
Being in an accident puts anyone in a bind. There are the sustained injuries, the medical bills to pay, the lost wages due to the recovery period, and more. Good thing there’s a silver lining – getting a settlement loan.
Applying for a lawsuit loan can help you get immediate funds before your case settles. Call us at (866) 407-6404 to get presettlement funding in Springfield, OH.
The Bad and The Good Sides of Pre Settlement Loans
There are upsides and downsides to getting a settlement loan. Consider these things before deciding on applying for one.
The Good Sides of Pre Settlement Funding
Lawsuit loans help with bills and other expenses.
This is the most common reason why people are getting lawsuit loans. They need the money to pay for something. These may be medical fees to pay for repairing their old home, car insurance, etc.
It’s a quick process.
The process for settlement loans is quick. You just apply, wait for the case to be evaluated, and wait for a notification. If the documents are submitted immediately, you can have your approval notifications within hours of application.
The Bad Sides of Pre Settlement Funding
Lawsuit loans are not heavily regulated.
There’s no regulation in pre settlement funding. The same regulations do not govern it. If some regulations are in place, they’re only at the state level. You can check in with your legal representative if you have issues with your presettlement funding.
Settlement loans have high-interest rates.
Lega funding firms take risks, hence the astronomical interest rates. High Rise Financial has a flat fee for the first six months. However, for most legal funding firms, their rates go up monthly. It may even go up to 20% to 60% a year.
Alternatives to Settlement Funding
Not all lawsuit loan providers are reputable. Some take advantage of the plaintiffs’ desperation and put extra fees in the contract. Others impose huge interest rates for their pre settlement loan. With High Rise Financial, we ensure you know what you’re getting into.
While lawsuit loans are great solutions to lift the financial burden, if there are still alternatives you haven’t tried, then you might as well go for them. Here are some:
Take a personal loan
This is usually the first option people think of when having a financial crisis. It’s great for those with good credit as it helps decrease the interest rate and the option of a fixed repayment period. Additionally, you can plan out your payment structure for years, giving you ample time to pay back your debts.
Call a family or friend.
Another alternative to a lawsuit loan is borrowing from a family or a friend. However, this can be a bit embarrassing to do. Still, it would help you save money as some don’t raise interest rates.
Get a low-interest credit card.
Low interest is another option instead of getting a settlement loan. You can use it for daily living expenses, and it has a lower interest rate than settlement funding. However, the best way to get a credit card is to ensure you pay off the charges by the end of every intro period.
High Rise Financial Settlement Loans
High Rise Financial is one of the US most reputable lawsuit funding firms. Aside from great reviews on Google, we also offer low-interest rates for a settlement loan. Several factors impact your interest rates, one of which is your case’s strength.
However, we try to help the best we can. Even if your case isn’t tagged as high-priority, we will continue looking for ways to give you the lowest possible rate. Another thing is that our interest rates are fixed for the first six months and non-compounding too.
We know time is critical for personal injury cases due to the two years statute of limitation. We ensure that we get your lawsuit loan application rolling quickly and seamlessly. The goal is to give you the legal funding as soon as possible.