How do I choose who to go with for my lawsuit cash advance?

February 11, 2008

Because there are so many options for you in getting a cash advance on your settlement, I thought I’d make life a bit easier for you. After all, that’s my only job!

There are 2 entities that offer advances on settlements: funding sources and brokers. Funding sources usually fund the deals and brokers bring the deals to the funding source. I hear from many people “Why use a broker when I can go direct to the source”? Here is why: A broker does not represent one company therefore they can always submit your request to whichever company they feel will give you the best deal. The best deal is defined as the most money (hopefully exactly what you request) for the lowest rate. Funding sources can only offer you one set of terms, one deal. Often people will take this deal even if it is high interest or a lower amount than they expected because they are in such a desparate need and don’t have any more time to go through the process with another funding source just to possibly get the same result. Many funding sources have recently RAISED THEIR RATES! So a broker will know who these companies are and steer you away from them.

I have had many clients in the past get referred to me by their attorneys after going directly to the funding source because the funding source had taken over a week and NO PROGRESS WAS MADE! That is never ok. Brokers are incentivized to get you your money fast because they get paid when you get paid. I am currently getting people funded within 3 days. Money in their hands in 3 days. Not bad. I know that when my clients call me for a lawsuit cash advance, they needed the money YESTERDAY! A good broker will stay in touch with you daily letting you know the status of things (funding sources do not do this). Why should you be in mystery? If you find you are fighting for communication, get a new broker or new funding source if you must go direct after reading this far. A good broker will keep his word. This can be difficult because the funding source that he submits your request to could screw that up for him by taking too long to underwrite your request. But it is manageable and again if the broker will just communicate with you and let you know what is really going on, you”ll be happy right?

Finally, a good broker should be able to give you the option of the lowest rates. If you feel like you are getting a bad deal, you probably are. Funding sources are great, they fund the entire industry and without them the brokers would have no one to submit their cases to, but wouldn’t you rather have a broker do all of the leg work for you? Oh yeah, a good broker ADDS VALUE by doing all of the above.

Let Rob Thomas be your broker for your next lawsuit cash advance on your pending divorce or personal injury settlement.

Call Rob Thomas if you have any questions 214-432-4179.

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