If you have been in an accident and now are involved in a lawsuit, you may need money to help support yourself until your case settles. If you plan on taking money from a pre-settlement funding company, it is very important how you go about selecting that particular company. Here are some helpful suggestions that can save you money.
Avoid companies that are going to charge you an application fee. An up-front fee of a few hundred dollars may not sound like too much at first, but it can be very expensive in the long-run.
Always avoid companies that charge monthly compound interest. If you take just $1,000.00 from a funding company that charges monthly compound interest of 3% and an $300.00 application fee, you will own them $3,700.00 in just three years. If your case lasted five years, and many do, you would owe them $7,660.00.
Legal Capital does not charge interest nor does it charge application fees. With the Legal Capital no interest, flat-fee advantage, a $1,000.00 cash advance will never owe more than $2,500.00.