Injury Loans in Georgia

Injury Loans with No Fees & No Compound Interest, Ever. Just 15% Fixed For Every Six Months That You Have the Money. Unbeatable! See our Table & Compare.

Can You Get An Accident Funding?

First of all, a lawsuit loan is a cash advance against a future lawsuit judgment or settlement award. Therefore, if you're in the middle of an accident lawsuit and need money, you can to get a lawsuit loan.

Can My Lawyer Loan Me Money?

No. It would be unethical for your attorney to loan you money. However, talk to your attorney about borrowing  money.  Most of all, mention a few Accident Funding companies.

How Does Accident Loans Funding Work?

First, after you apply for an lawsuit loan, the funder will request information about your accident from your lawyer.  Hence, the accident funding company will ask about the accident, injuries and the value of the case.

How Much Do Accident Loans Cost?

Lawsuits take months or even years to settle or come to trial. Moreover, the interest rates on a typical lawsuit loan can run between 27% and 60% a year, comparable to some payday loans. Consequently, on a $25,000 loan, the interest can cost you $12,500 or more in just one year.

What is Compound Interest?

Compound interest is the addition of interest to the principal sum of a loan from the previous period.  In other words, interest on top of interest.   Hence, interest in the next period is charged on the principal sum plus previously amount of interest.

What is the Difference Between Accident Funding Companies?

Most noteworthy, Redwood Funding is the only  accident funding company that a fixed interest rate of 15% with no fees. Furthermore, the big accident loan companies are Oasis Financial, Cherokee Funding, Global Funding, Buckeye Funding. Finally, many of these companies  charge a monthly compounding interest rate that can really mean  interest as high as 70, 80 or 90% a year.

How Do You Choose a Lawsuit Loan Company?

Since you are looking for a lawsuit loan company people are most interested in the bottom line: cost. Noteworthy, people want cheap and fast service. However, lawyers do not like dealing with accident loan companies. In conclusion, awyers usually do not get paid for the extra work in providing the information needed by these accident loan companies.

Who Is The Cheapest Accident Loan Company?

Redwood Funding Group is the cheapest lawsuit  funding company.  Additionally, they never charge fees in any form.  Lastly, they don't compound the interest rate. Finally, they don't overcharge for the service of a bank wire or Federal Express.

The Cost of a Personal Injury Loan:

The items to consider when we say cost are interest, fees and surcharges.

Interest:

Many Florida Lawsuit Finance companies will advertise that they have 3% interest. We think that is a great interest rate if that is all it is. However, what you must look into is how that 3% is charged. If the interest is 3% annually that's a great rate of interest. However, if the interest is 3% monthly compounded then we gotta start raising the red flags. Consequently, 3% monthly compounded interest is about 70% a year. That's because compounded interest grows based upon the previous periods principal and interest. If you do this on a loan for 12 months you are going to have 70% interest, not 3% like you thought. Therefore, the first question to ask is: Do you compound your interest monthly?

Fees:

When you go into a store and ask 'how much is that pack of gum'? the storekeeper will respond '.75 cents, please'. He won't say the pack is .75 cents but the processing fee for the gum is another .25 cents. That's nuts. However, when you take out a Florida Lawsuit Finance loan from most of these companies they are going to charge a fee.

The fee might be called an application fee, a processing fee, an underwriting fee. In other words, not only are they going to charge you monthly compound interest for your loan but these personal injury loan companies are going to stick you with a fee to boot.

Moreover, they are going to add the fee, say $250, to the amount you are borrowing and make you pay interest on both the principal and fee. So that $1,000 loan just became a $1,250 loan but you are only going to see $1,000 in your pocket. They just made $250 on you and you haven't even gotten your money.

Surcharges:

If you ask to have your money wired from one of these companies how much are they going to charge you for it? Moreover, what if you don't have a bank account and you want your money by Federal Express. What's that going to cost?

A lot.

In our experience a bank wire costs about $30 to do. Furthermore, an over night envelope from Federal Express also costs about $30. Ask most of these Florida Lawsuit Finance companies what they charge for these services and we bet the answer is either 1) between $50 and $150, or 2) it depends upon how much you are borrowing. Why should it depend on how much you are borrowing? the check doesn't weigh more if the check is $500 or $5,000!

Lastly, these personal injury loan companies will deduct the surcharge on the mailing or wire from your check. So if your loan was for $1,000 you will receive a check from Federal Express for $900. Remember that you are responsible for $1,250 on day one due to the fees. That is just unbelievable.