Are you an Ideal Client for Presettlement Funding?

October 27, 2008

I get calls all day long from people who are looking to get presettlement funding also known as lawsuit advances. The severity of their injuries range from “soft tissue” to “catastrophic”. Let me explain:

90-95% of a lawfirm’s inventory are cases that fit under the category of “soft tissue”. This means there is no disk damage, fracture or broken bones. This is great! I always feel empathy for the person who calls with the catastrophic injury and truly they are the ones whom the lawsuit advance industry was created for.

But, seeing that 90-95% of the motor vehicle accident lawsuits are soft tissue I can’t leave them without the opportunity to recover money for the time they have not been able to work. I found a company that will fund soft tisuue cases. The only drawback is that it grows at 8.99% interest monthly for 2 years. This means after 2 years it stops accumulating interest. For those of you who are a soft tissue case we can still get you a lawsuit advance! You pay nothing unless and until the case settles.

The catastrophic cases are ideal and here’s why:

1. The cases are always bigger than soft tissue cases so there is actually room to advance money and have it grow at interest.
2. The injury is more severe than a soft tissue case so it yields more money at settlement from the insurance companies.
3. The plaintiff usually cannot work, literally, physically speaking. On soft tissue cases, the plaintiff usually is back at work pretty quickly.
4. Seeing that the injury is so bad, the liability (meaning who was liable) is usually stronger.

I am willing to serve both catastrophic cases and soft tissue cases and I find that my ideal client has the following qualities:

1. They have already made a decision that they want a lawsuit advance/help.
2. They have decided they want a broker to handle it for them (no cost to them with me).
3. They are honest with me about their injuries.
4. They move fast.
5. They are grateful.
6. They expect good service.
7. They expect the lowest rates.
8. They listen to me so they understand better.
9. They follow my lead.
10. They are a team player.

These are the people who energize and inspire me and ALLOW me to do my best work. I will dive after a rolling donut on a gravel highway for these people because my morale is so high.

Are you an ideal client for presettlement funding?

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

To plaintiffs who get lawsuit funding then don’t complete their care with Chiropractors:

August 18, 2008

Plaintiffs who get pre settlement funding just shortly after they get in an accident and then do not finish their program at the Chiropractor are really doing themselves a huge disservice. They cause their case to not look as severe. In addition they usually get half of what they could’ve gotten from their settlement had they done the whole program. It affects the Chiropractor who is there to get a result. Usually when you don’t complete the recommmended treatment program, you don’t get results. It also affects their income. It affects the attorney’s income as well because the plaintiff settled for much less unneccesarily.

Lawsuit funding is a great tool to help a plaintiff survive litigation as well as hold out for a larger settlement. I hate to see it when plaintiffs do the above to everyone involved.

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

Which is better, monthly compound interest or a flat fee for my lawsuit advance?

July 21, 2008

Until recently most companies offered one or the other but not both. I offer you both because I know that some of my clients and their attorneys can predict with accuracy when the case will settle. For this situation I would only recommend the monthly compound interest structure. The only other reason i wuld elect to use this structure is if one of my clients is fixated on the monthly rate. In addition to the lawsuit cash advance, the finance company adds a $250 processing fee and a broker commission (if a broker is involved). That all grows at interest.

The flat fee structure is great because there are no fees. Only the amount advanced is growing at interest. While the client has to pay for 6 months interest even though it may have settled in month 13, they still come out ahead because in the finance game it isn’t only the rate that matters. What matters most is the principal or the amount advanced.

If you are seeking a lawsuit loan use a presettlement funding broker so he or she can help you decide which is best for you. The brokers also tpically provide better service than you would get by going direct because their livelihood depends on it.

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

Gas isn’t “going up”. Your dollar’s value is dropping. Does this effect your lawsuit cash advance?

July 3, 2008

Of course. The dollar has been on a downward slope since 1932 when we experienced the Great Depression. From that point on The U.S. gov’t has been bankrupt to private bankers known as “the Fed”. This is why it says “FEDERAL RESERVE NOTE” at the top of all your dollar bills. Have you recently looked up the definition for the word “note”? You will be astounded to know that you are holding an IOU.

The Federal Reserve is no more federal than Federal Express. Do not mistake them for being the gov’t. They are private bankers who conned your congress in 1913 to be the sole bank system for the U.S. This is unconstitutional by the way. See Article 1, Section 8E of your constitution.

So, just like anything else, the more you have of something, the less valuable it is. The Fed prints the stuff out of thin air. So essentially your lawsuit settlment is dwindling because so is the dollar.

It makes sense to get the current value of the dollar on your settlement by getting a presettlement loan. Just make sure you use it to create more money or you convert it into a tangible asset like silver, gold, real estate, land. Cash has become trash.

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

I see ads on TV and in Thrifty Nickel, The Flyer, Pennysaver, The Greensheet and my newspaper for people advertising settlement loans……

July 2, 2008

There are many sources for you to get a settlement advance. There are brokers and funding sources. Funding sources fund deals for the brokers but they also advertise heavily on TV and in newspapers. Brokers typically don’t advertise on TV because their budgets aren’t as big. I am a broker, by the way.

If you see the following terms, just know they all mean the same thing, getting you money now on your lawsuit: lawsuit advance, lawsuit cash advance, lawsuit funding, litigation funding, plaintiff funding, presettlement funding, settlement funding and settlement advance.

Those are all search terms so you will find them heavily inserted into the copy of the the websites to draw your attention via the search engines like Google.

Whomever you use, make sure you know the questions to ask. See my other blog on what to ask.

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

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 

Choosing the wrong funder for presettlement funding can adversely affect everyone

June 17, 2008

I have recently learned a great lesson at the expense of myself but more importantly my clients. As a broker for lawsuit cash advances, my job is to get plaintiff funding for my clients at the lowest possible rates by a presettlement funding source that will get it done quickly.

I have always had a primary presettlement funding source for my clients who need lawsuit advances. They get the first shot on everything. I have always had a SECONDARY funding source as well. The reason for the secondary one is sometimes the primary doesn’t want to fund a particular request for settlement funding. When this happens I turn it in to the secondary source. Each broker should have a set of criteria that they use in order to determine whether a presettlement funding source is a good fit for them or not.

For me, it has always been 3 things: Lowest rates, fast communication (this one being very important), keep your word once given (rare on this planet but important in business especially). If a litigation funding source will do that, I can keep them busy with new cases steadily because that is what the person who is asking for lawsuit funding wants as well. If not, no matter what justification they give me I look bad and it makes life more difficult for my clients.

This happened recently with my secondary presettlement funding source and now I have clients needing second advances and I have to move them to another company. I wouldn’t mind using the same company because there is a cost associated with switching them but this particular funder asked me to never speak to them again. Why? because I gave them a report card on how they were doing during a request and they couldn’t confront it. They failed miserably at communicating with me. I went 4 days without communication on a case and always felt with this company that I had to push things along. They also failed miserably at keeping thier word. When I started with them, they claimed fast fundings and a 48 hour turnaround. Not true. I told them so and this was their reaction:

They said I was the problem. I agree that I am the problem if I ask a company to do the 3 things above and they can’t. I refuse to lower my standards for anyone. In the world of litigation funding, the client has many options, the funding brokers have many options. I am choosing a different company to be my second option for plaintiff funding. My first source is VERY SOLID.

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

Lawsuit advances on Employment Discrimination cases

June 11, 2008

Employment discrimination cases are a growing sector of the annual inventory of new lawsuits. I get the question often from those who find me on the web if presettlement funding is available on this type of case.

The answer is yes. Although they are much more sophisticated type of lawsuit, they still qualify for plaintiff funding. In fact, I successfully funded one last month. The plaintiff received a $5ooo advance and was very happy. The attorney was pleased as well because if their plaintiff couldn’t have afforded to go much further, then they both would have had to settle and take a lower amount than what they could have gotten if they held out.

It is horrible that employment discrimination exists. It is great that settlement funding exists to help those who are going through a lawsuit because of it.

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

You get back 10 times what you send out.

May 30, 2008

I have been really focusing on and using in my lawsuit funding business the law of attraction. Some might feel that this subject is played out; but if it is true and it works, then shouldn’t we all focus on it daily?

In the world of presettlement funding I am looking for people who need cash before the settlement. I rely solely on referrals. How am I to expect referrals if I am not GIVING referrals or something that others might find resourceful?

I am guilty of sending to law firms on a monthly basis letters asking them to send me their clients who needed a lawsuit advance. In fact I did this for over 2 years! If you were an attorney, would you get sick of my letter arriving each month with nothing other than a request? If your plaintiff needed a lawsuit cash advance, are you going to refer them to the broker who does nothing but request things of you or the broker who GIVES to you referrals and valuable resources?

That has all changed since meeting my keep in touch expert. She first had me read a book called Book Yourself Solid. Then she shared with me a resource called Send Out Cards. This resource has changed the way I do business and changed the way my firms feel about me.

In keeping with the idea of “sending out to give”, I am STRONGLY recommending to all of my friends, colleagues and law firms that they use this system so they too can get back 10 times what they send out.

Please call 866-652-0699 if you have any questions regarding my keep in touch system.

Posted by Rob Thomas | Filed Under Blog, attorney funding, attorney loan, law firm loans, lawsuit advance, lawsuit cash advance, lawsuit funding, litigation funding, plaintiff funding, presettlement funding, settlement funding | 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 

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