Worker’s Compensation Lawsuit Cash Advances…. who does them?

September 7, 2008

I get monthly referrals in Florida and Texas to my office from clients who I have funded in the past or attorneys who I am friends with to help their referral get a lawsuit cash advance on their worker’s comp lawsuit. There are few funding sources out there that do these types of transactions.

Some companies will only fund you if you are suing ABC manufacturing or some other third party. This seems to be uncommon from my referrals but it may be you reading this post.

The other companies will fund you if you are suing the state. These are usually what get referred to me.

I have two companies that I use for these transactions and both can accomodate anyone needing a lawsuit cash advance on their worker’s comp lawsuit.

Posted by Rob Thomas | Filed Under cash advance, lawsuit cash advance | Leave a Comment

LAWSUIT CASH ADVANCES ARE FINALLY AVAILABLE IN OHIO!

September 4, 2008

I was assured I would never see the day that Ohio would change their mind on laswuit cash advances.

As of August 28th of 2008 anyone who qualifies for a lawsuit cash advance can now get one. WARNING: With this blessing comes a flurry of TV companies who will offer you lawsuit cash advances. You need to shop around and not take the first offer. Their rates are a little higher because TV ads are very expensive. You should use a resource who can get you the best deal.

Brokers who offer lawsuit cash advances can usually compete and get you lower rates. I definitely can because I am not married to any particular company. However, I have found a company who advances more cash than the others will on the same lawsuit and do it for less interest.

If this interests you click HERE and allow me to go to work for you immediately to get you your lawsuit cash advance.

Posted by Rob Thomas | Filed Under Blog, cash advance, lawsuit advance, lawsuit cash advance | 1 Comment

How long does it take to get a lawsuit settlement advance on my personal injury lawsuit?

August 4, 2008

In a perfect world the intial intake will take 5-10 minutes to explain to you the process of lawsuit cash advances, the two types of pricing structures and answering your questions. The next step is getting the documents from your firm which takes as long as it takes but for me it is usually 24-48 hrs unless your firm didn’t refer you in which case it could take longer.

Once I have the documents that I need from the firm, I give them to the finance company who usually has an answer in 48 hrs. Then I get the contract and send it to your firm for you to go down there and sign along with the attorney who thn sends it back to the finance company. You can receive your advance that day if it is a wire and done before 4pm EST or the next day if it is a physical check.

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What are these LAWSUIT CASH ADVANCE ads on my tv?

June 26, 2008

If you watch tv late at night or during the 9-5 hour you will be approached by many companies promoting lawsuit settlement loans. There are about 4 companies that I am aware of that actively advertise on your tv.

They are J.G. Wentworth, Oasis Legal Finance, Law Cash, and Whitehaven.

They are hoping that you are injured, in a lawsuit and need money now. If you are then you could qualify for a lawsuit advance of anywhere from $1,000 to $100,000 or more.

They provide an 800 number which makes it easy for you to call and you are liekly to actually reach somebody when you call because some of them have an inbound call team of at least 10 people. I have seen it. I visited Oasis once.

You will be asked to give your personal information and then they take it from there. From what I hear of others who have actually gotten funded directly with the companies above, it took them about 2 weeks to get their money. Not bad. But when you called them didn’t you really need your money the DAY BEFORE?

You know how when you call any company, they are always the best, the top in their industry, the biggest provider, etc.? You will find this to be true with them as well. To be fair, I say the same thing.

How do YOU know? Do you really have time to shop all of the presettlement funding sources to see which is the best? No, you needed money yesterday. How can you be assured that you are getting the fastest service and lowest rates offered if you are only dealing with one company? It’s all in the stats.

I started my presettlement funding brokerage 4 years ago. I do not work for any of the companies, but I can submit your request to any of them. I have worked with many of the big companies and because of my experience know who to use and not to use based on service and rates.

When I decide to use a presettlement funding source, I tell them my criteria are the following: LOWEST RATES (or I am doing you a disservice), fast COMMUNICATION (I have found that all my clients want is information and they hate being kept in mystery), and DO WHAT YOU SAY YOU ARE GOING TO DO (rare in business unfortunately but important nonetheless).

I have found the best source for lawsuit advances and I am confident that anyone who trusts me to get them a lawsuit cash advance will agree , especially when it comes time to pay it back but that is only if they win!

Posted by Rob Thomas | Filed Under Blog, cash advance, lawsuit advance, lawsuit cash advance, lawsuit funding, litigation funding, plaintiff funding, presettlement funding, settlement funding | Leave a Comment

Lawsuit loans on Workers Comp cases in Florida?

June 4, 2008

Absolutely. All day long. Why wait for your settlement as the dollar continues it’s decline toward the value of a peso?

You can get a lawsuit cash advance on the future proceeds of your case and you don’t have any monthly payments and you only pay it back IF the case settles. No workers comp settlement - no payback. Why? When the finance company advances you YOUR OWN MONEY on your workers comp settlement they feel like they are taking a good risk, so they take 100% of the risk. Also as emphasized above, it is your money. Why would you have to pay yourself back?

The process is simple and quick through me. Yes, you actually deal with Rob Thomas the whole way through. That won’t change. Apply now by filling out an online application and get your financial problems solved until your settlement! Not many companies do lawsuit loans on workers comp cases in Florida, so get started with me today!

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Misinformed Attorneys, we do NOT take half of your clients settlement!

June 2, 2008

Because I deal in so many lawsuit cash advance deals weekly, I run into periodically a plaintiff who is needing a settlement advance but their attorney will not cooperate. It happened last week! The attorney usually uses three arguements: “It is against the BAR” or “We just don’t do it” or “They will take half of your settlement”.

I want to adress this objection directly of taking half of the settlement. Here is the break down on a payback for a lawsuit advance through my office:

My presettlement funding sources will only advance up to 10% of the case net proceeds. If a client were to get advanced the full 10% and the case drug on for four years then the most the client would pay back was 4x the cash advance. That equals 40%. That is close to half but not half and only in the instance that the personal injury lawsuit took 4 years to settle after the money was advanced.

Attorneys, your 40% is safe. It is not touched and always considered first when it is time to pay back the lawsuit advance. The current average time it takes for a lawsuit cash advance to be paid back is between 1.5 and 2 years.

“What if the client leaves the closing table with a dollar?” I will discuss this in the next blog. Make it a great week!!

Posted by Rob Thomas | Filed Under Blog, cash advance, lawsuit advance, lawsuit cash advance | Leave a Comment

PARALEGALS! Why are you putting up with this?

May 28, 2008

I had a VERY good conversation with one of the paralegals of a firm that gave me my first referral over 3.5 years ago. She spoke of her experience with me vs. her experience when her clients - the plaintiffs go directly to a funding source to get a lawsuit cash advance on their settlement.

She began by saying that most funding companies or at least their particular staff are very disorganized because they would ask for certain documents and then 2 days later ask for more. In order to service her client she had to drop what she was doing and meet the request. She said that wasted about 30-45 minutes total.

She then said that many companies are now asking the staff to fill out an application. I asked her how she felt about that and she was appalled that any company would even ask her to do that. Is that really what paralegals ought to be doing? Shouldn’t the funding source staff do that? She said they go deep on the questions when all they need to do is review the documents that she sends them. I would bet my future lives that this ticks off most paralegals and probably the attorney even worse since doing that isn’t practicing law.

When I informed her of the rates of a particular company that many of her clients get advances from because this particular company advertises heavily on T.V. in her area is now charging 50% for the first six months she flipped out! I asked her why she was letting her clients get a higher rate when for over 3 years with that firm I have always gotten better rates than what are offered by “that” company she said “I didn’t know”. PARALEGALS - CONSIDER YOURSELF WARNED, having a presettlement funding broker that you trust is very helpful if you don’t want your clients to pay more interest than they should.

Guess who hears about when it comes time to settle? I can help you if this is happening to you or your firm. Truthfully I took a loss on this conversation. Evidently I am not the only person in there funding their clients. I hope because of this conversation with her this changes. I have a feeling it will! Note, I have used even recently “that” company but my primary source is not them. I will turn the case into “that” company when my primary source denies a request for settlement funding.

Posted by Rob Thomas | Filed Under Blog, cash advance, lawsuit cash advance, presettlement funding, settlement funding | Leave a Comment

How do the contracts differ on lawsuit cash advances?

May 20, 2008

Each funding source in the world of pre settlement funding has their own way of writing a contract that is to be signed by the attorney and plaintiff. There are now two distinctly different contracts and I wanted to outline the differences of them so that you can always make the best decision on your lawsuit advance.

The first one (literally) is a monthly compund “interest” structure. I use interest in quotes because I advance money on lawsuits not loan it. So on the monthly compound “interest” structure in addition to your cash advance you can add $200 approx. as a processing fee plus if you have a broker you will have to add their commission (rates vary). All of those three combined become the principal and each month it is charged a fee and that compounds until the settlement. Most companies stop the compounding at year 4 and most of the plans I have seen show that the most you would pay back on your lawsuit cash advance is 4 times what you were advanced.

The second type of contract is called the flat fee contract. It involves multipliers instead of a percentage rate. For example, let’s say in months 1-6 the multiplier is 1.4 and your case settles in month 3. To figure out what you pay back, MULTIPLY 1.4 times your advance and that tells you your payback. The benefits to the second type of contract is that there are no fees, no commissions and it usually is lower than what you would pay on the monthly one.

Again each company offering “lawsuit loans”, “presettlement advances”, “settlement cash advances”, “plaitiff funding”, has their own way of doing contracts and be sure to ask before getting to the contract phase.

What do most plaintiffs of personal injury lawsuits spend their lawsuit cash advance on?

May 15, 2008

After 4 years of helping plaintiffs of personal injury lawsuits, workers comp lawsuits, commercial lawsuits, divorces, etc. I have found that most of the people who I have gotten pre settlement funding for use their lawsuit cash advance to pay for:

1. Rent or Mortgage
2. Electricity
3. Transportation be it a used car or a rental
4. Phone bill
5. Food for themselves and/or their children
6. Investment in a a new business
7. Pay back a family memeber who loaned them money
8. Pay their attorney so they can continue in litigation (commercial cases and divorce cases)

Again, the reason someone gets a lawsuit advance is because they have no other option. If you know of anyone in a similar situation, we pay 25% referral fees once they get funded. Make sure they give us your name so we know who to write the check to!

Posted by Rob Thomas | Filed Under Blog, cash advance, divorce settlement, lawsuit advance, lawsuit cash advance, presettlement funding | 1 Comment

Lawsuit cash ADVANCES available here NOT LOANS!

April 30, 2008

I see many people and have been guilty myself for search engine purposes of using the word “lawsuit loan” or “settlement loan” or “loan on lawsuit”. They are some of the most commonly used search terms. I have used these in craigslist ads but haven’t used them on my site. Many also use those terms on their website.

Nothing could be further from the truth in terms of what I deliver. For starters, the “lawsuit loan” would have to be paid back regardless of what happened in the lawsuit if it were in fact a loan. Because it is an advance, if you lose your case, then you do not pay anything back. That is proof it is a lawsuit cash advance and not a “settlement loan”.

Additionally we are advancing you your own money - the settlement. You just don’t have it in your hands yet and for that priveledge we charge you a fee. Some/I call it interest which is also a misnomer. How could a finance company ask you to pay back what was yours to begin with? You are using your own money to move into the future instead of creating debt. The wealthy do this daily. You are doing the same here. The non-wealthy create debt to move into the future. This turns out to be contra survival in some instances for some people.

You are in fact getting a lawsuit cash advance and not a loan of ANY sorts. We are not bankers and do not look at credit (even more proof). The strength of the enitre transaction is your case.

Again, how could a finance company ask you to pay back what was already yours? It’s a lawsuit cash advance.

Posted by Rob Thomas | Filed Under cash advance, lawsuit advance, lawsuit cash advance | Leave a Comment