There are more than one hundred lawsuit loan companies that provide the exact same product – cash now in exchange for repayment (plus interest) later.
While the product these companies provide is basically the same – upfront cash – the cost of this cash varies widely. Many lawsuit lending companies claim to be the “best lawsuit loan company” or have the “lowest rates”. Few companies post information about their rates online.
Check out our reviews of dozens of the most prominent lawsuit loan companies below. We strongly advise that you read our “How to Compare Lawsuit Loans” guide before requesting funding from any company.
Lawsuit loan companies we recommend
These companies will offer concrete, upfront quotes with simple-to-understand rates and terms. They may offer lower rates than competitors.
Even with these companies, it is important to ask about terms upfront. Do your homework and get quotes from many providers before moving forward with any particular company.
We think the best pre-settlement funding company is the company that provides you the lowest rate and the best terms. The most important things to assess on your first phone call with a funding company are rates and fees.
- Rates – the best lawsuit funding companies charge low, simple rates from 15% to 20% every 6 months. In many cases, it is best to avoid compounding rates and companies that cannot quote a rate upfront on your first call.
- Fees – plaintiffs typically benefit from avoiding legal settlement funding companies with high fees. As a rule of thumb, for advances under $1,000, look for companies that charge $100 in total fees or less (including application, processing, and delivery fees). For advances greater than $5,000, try to pay $250 or less in fees.
If any company is unwilling to disclose and discuss this information upfront, it is usually best to move on to another option.
Recommended lawsuit loan companies
These are our top picks overall, based on rates, funding speed, and consumer reviews.
Our pick for low rate lawsuit loans
USClaims offers some of the lowest, non-compounding rates in the industry. Many companies claim to offer “the lowest rates in the industry” – we recommend comparing them against an offer from USClaims to see for yourself.
Our pick for fast lawsuit settlement loans
Thrivest Link Legal Funding offers reasonable funding terms, often with simple, non-compounding rates. Their expert underwriting allows them to fund larger sums than many of their competitors. They also have a 4.6 / 5.0 rating on Google.
Highly rated lawsuit loan companies on trusted consumer review websites
These legal funding companies are highly rated by consumers on review websites.
Highly rated on Google
High Rise Financial is a California-based lawsuit loan company. They have the most five-star reviews of any funding company in the industry. In addition to pre-settlement funding, High Rise provides medical care scheduling and financing services.
Attributes of the best lawsuit funding companies
What makes a company worthy of being one of the best pre-settlement loan companies for plaintiffs?
- The best pre-settlement funding companies for plaintiffs put plaintiffs first, not their attorneys. Plaintiffs receive regular updates and honest answers about the status of their requests. We feel that many legal funding companies have a too-cozy relationship with personal injury attorneys. In many cases, this relationship is not beneficial to the plaintiff.
- A quality settlement funding company will provide rates, terms, and a sample payoff table immediately upon request before they receive any information about your case. Any company that refuses to do so is likely trying to restrict a plaintiff’s ability to compare rates.
- The best pre-settlement loan companies charge low, simple rates. Plaintiffs should basically never accept a compounding rate on legal funding. Compounding rates lead lawsuit advances to balloon over time as interest accumulates based on the total current balance of the advance.
- A good personal injury funding company can answer your questions thoroughly and courteously. The top litigation funding firms do not use call centers – they assign you a specific representative for the duration of the process.
Other top pre-settlement funding companies
These companies are listed here for comparison purposes only. Many of the companies listed here provide a wide variety of rates and terms that vary from case to case.
Some of the companies listed here may, in some cases, be brokers instead of direct lenders.
It is absolutely critical that you ask about rates and all fees upfront, before providing any detailed personal, case, or attorney information.
See each profile below for more information. Grouped companies are related in some manner (e.g. a parent company and a subsidiary; merged or effectively merged companies; companies that operate out of the same office).
- Capital Now Funding – Capital Now Funding is based in Kentucky and founded in 2015. They typically provide lawsuit loans with zero interest and instead charge a fixed fee.
- Cherokee Funding – Georgia-based Cherokee Funding provides pre-settlement and post-settlement plaintiff and attorney funding. They claim to fund almost all types of legal cases, so long as there is solid liability, damages, and a defendant with the ability to pay.
- Client Legal Funding – Florida-based Client Legal Funding was founded in 2011. They offer pre-settlement funding, post-settlement funding, medical funding, and attorney funding services.
- Golden Pear Funding – Golden Pear Funding is one of the largest lawsuit funding companies in the US. They are primarily focused on funding plaintiffs residing in New York. Since 2008, they have extended more than $600 million in funding.
- Mustang Funding – Mustang Funding is a relatively new but quickly growing lawsuit funding company based in Minnesota. They have provided more than $50 million in funds to plaintiffs and attorneys since 2018.
- Nova Legal Funding – Nova Legal Funding is a California-based direct funder and broker of lawsuit loans. They claim to have provided more than $75 million of lawsuit cash advances to plaintiffs.
- Oasis Financial – Oasis Financial is one of the largest pre-settlement lawsuit loan companies in the United States. Oasis has provided funding to more than 250,000 plaintiffs since 2003.
- Preferred Capital Funding – Preferred Capital claims to be the first pre-settlement funding provider in the US. They receive much of their business directly from referring attorneys.
- Rockpoint Legal Funding – Rockpoint Legal Funding is a California-based funding provider that receives a large amount of its business from California attorney referrals. They also provide attorney funding and medical lien funding.
- Signal Funding – Florida-based Signal Funding claims to provide $500 to $500,000 in pre-settlement funding with same-day service. They provide funding to injured plaintiffs nationwide. Signal has solid reviews on Google and mixed reviews on Yelp.
- Triumph Legal Funding – New Jersey’s Triumph Legal Funding offers competitive rates and fast, friendly service. Triumph favors rolling contracts with pre-approved monthly funding amounts to help clients budget and offer peace of mind throughout the course of their lawsuit.
Five questions to ask lawsuit loan companies before you apply
When you first contact any funding company, you should be ready with a few questions. At Compare Lawsuit Loans, we feel strongly that you should be able to get basic pricing information before giving a company any information about your case (except maybe your state of residence and case type).
It is ok to get some basic initial information over the phone. However, you should be sure to have the company confirm all rates and terms in writing before you allow them to reach out to your attorney.
- Would you be a broker or a direct funder for my request? This is an important question – and it’s important to phrase it this way. Many brokers also fund a few cases here and there. Be specific in asking about whether they will be a broker or funder for your case. A broker is not always a bad thing – but remember that going through a broker almost always comes with added cost for you.
- Do you charge simple or compound interest? You should always ask upfront whether or not a company is charging simple or compound interest rates. Get this information in writing.
- What rate do you charge? You want a specific answer here – not a meaningless range. Ask the company to commit to specific pricing before you apply. Get this information in writing.
- What fees do you charge? You should ask funding companies to provide fee information in writing. You should make sure to get information about whether fees are fixed or vary by funded amount. Get this information in writing.
- What is the turnaround time? They will almost always answer this question with a caveat – it depends on when they receive documents from your attorney. Make sure to confirm approximately how long they expect the process to take after they have a full case file.
Frequently asked questions
The best lawsuit loan company is the company that gives you the best terms on the advance you request. The best funding company for a car accident plaintiff in California may not be the best for a plaintiff with a medical malpractice claim in New York. Do your research and shop for the best terms possible to find the best legal funding company for you.
Yes! Borrowing funds on your lawsuit is typically called legal funding. There are hundreds of companies that provide this service. However, many companies charge a substantial fee – do your homework before rushing into a lawsuit settlement advance.
Whether or not lawsuit funding makes sense for you depends on your circumstances. Taking out an advance on your lawsuit is a last resort. Always be sure to look into alternatives including borrowing from friends and family.
Use Compare Lawsuit Loans, Google, or Yelp to find a few companies that provide legal loans. Once you have selected a few highly rated companies, get quotes from each one. Compare quotes to find the best deal possible and move forward with that funding company.