Funding Solutions and Services Frequently Asked Questions 303-220-5679 or 888-414-4260

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Learn how to write for financial success or pleasure! LapGenie - to work on your laptop anywhere in comfort, without the heat Resources Tips Alerts E-Books Articles New Sites Scam Tips Books Shopping & Services Need a Prayer? Subscribe to our "Funding Solutions" newsletter! Why not use iCop approved companies that are known as a reputable companies? Click on the iCop seal to find out more. Double ii's Services iCop Member Struggling? Consolidate and ease the burden. Tell A Friend! About This Site! Type In Your Name: Type In Your E-mail: Your Friend's E-mail: Your Comments: Receive copy:  Frequently Asked Questions about Advance Funding: => Is this a good avenue for me to take - if I need the money? A pre-settlement advance is a good option if you need money while waiting for trial - as long as your case looks like it should win. Our legal team looks the case over for strength in order to fund it (you can use the funds to build your case to be stronger). It allows you to "wait out" the process in order to prevent an early or lower settlement, which can bring you more money from the lawsuit. ***Because we carry all the risk on pre-settlement funding (if you don't win the settlement, you don't pay it back - known as "non-recourse"), it can seem like an expensive option - ask only for what you "need" - not for what you "want." If you have been awarded a settlement, and are awaiting the payment of funds, we can advance cash to you on it in many cases if it is allowed. The situation needs to be transferable and allowed, and against some sort of "secure" entity that will pay - a government agency, a municipality, an insurance company, a large corporation, or some like organization with equity and strength to make the payments. We cannot fund on individuals who are to pay out - they often never make payment, or have the means. This option may or may not be the best for you - you might be better off by refinancing your home, or by asking family to loan you money. It depends on how large a settlement you are waiting for, how long until it pays, the urgency of your other bills, whether you need to have medical attention but can't afford it, etc. If you absolutely need money now, this is a fast option for you - mush quicker than a conventional loan, with less "red tape." Not all situations are "doable". Read the restrictions to funding requests - if your case qualifies, or you don't know how to tell, then contact us to find out. => How much will it cost me to get an advance on my settlement? If your lawsuit is already settled, it will cost approximately $1500-$2500 per $10,000 advanced to you. A higher advance amount will not be this amount ($1500-$2500) added for each $10,000 - we will look into the case and give you an offer. A lesser amount or higher advance for a settled case will have to be individually looked at - we cannot give a quote on the fees until we look over your settlement papers. Some explanation is given here - but these terms are not absolute - your case determines the terms. This is shown to give you information to pursue the process and know what to expect, or know if a rate is too high. If it is not yet settled, it will cost a fee (may be 10% of the advance requested, or some other fee structure as terms change frequently) and then perhaps between 3-6% per month until paid back, sometimes less, sometimes more, depending on the strength of your case and how far into the future it will settle. The pre-settled case is non-recourse, meaning that if the case does not win or settle, you do not pay it back. It is highly scrutinized to be certain it's a solid case before we fund on it - we need hard evidence and more than soft tissue injury. There are always some variations that may be worked out in these cases. The terms will be worked out on a case by case basis - depending on strength of case, amount of time to settle, amount of advance and amount the settlement is looking to win, etc. Auto insurance advances are normally on the lower rate fee. You do not need to pay anything up front - it is taken out at time of settlement. There is no up front application fee - there is no obligation to apply or to accept our offer. => How soon can I get paid? On a settled case, it can be as fast as within 24 hours if you have all the paperwork and your attorney cooperates. On a pre-settlement case, it can usually be funded within 2-7 days, depending on your attorney's cooperation, having all the required paperwork, 1-3 days with the underwriters, etc. Auto accident cases are usually funded in same day or 24 -72 hours. For a structured settlement or annuity, it can be between 30-90 days, depending on when your state's court can take the case, and factors such as digging up all the papers if they are not readily available, etc. For lottery winnings, it can take up to one year but can be less, depending on the situation your state has. => What is the process? For a settled case, you send us the settlement papers and it can be done quickly, barring complications like splitting the settlement with siblings, etc. For other situations, we send your attorney (or in some certain cases, directly to you) the application form and it gets filled out and sent back to us. Then it goes to underwriting, which can take from 1 day or more, depending on the case. The offer or denial comes out of underwriting and then if you accept, we can fax a contract to your attorney (or you in certain situations). Once we receive it back as signed by you and your attorney, we get your money to you - you specify how fast you need it - via overnight or wiring or regular mail - you may be charged for a faster delivery option. Read about the funding process here. => How do I know if I am dealing with a legitimate source? Be careful - there are a lot of scammers, or perhaps well-intentioned agents who just don't understand the business - they can promise you more than they can do. Some have taken paperwork, promised clients funding at less than other companies, but then after the contract is signed, cannot produce the funds, leaving the clients waiting and in limbo, unable to cancel the contract so they can pursue another avenue. I've heard many awful stories of people getting "taken" by agents or illegitimate funders. Do your due diligence with your attorney. Ask questions - find out who you are dealing with. => Is it better to take a higher rate with lesser fees or a lower rate with higher fees? You will have to break this down yourself - the fee structure may be a problem in certain cases. If there is a 15% fee added onto your advance request, you may have to pay the monthly rate on that added amount (it may be added to the advance request you want)- find out the specifics of the monthly rate fee before deciding. Sometimes a higher rate is better if the fees are lower - you won't have to pay monthly fees on the added on fees. You can also try to ask for a 10% fee if you are presented with a 15% fee - or go with another funding source. => Who are the funders you work with? Primarily funders in New Jersey or New York, or certain funders in the mid-west, whom I have heavily scrutinized for ethical and prompt service. I choose the one with the best terms for your situation, and if one cannot work your case, I send it to one who is more likely able to take it. Not all funders take on all kinds of cases. => Will I be taxed on my advance? This question will need to be deferred to your tax consultant, as there are different rules for for the types of advances. It would be unethical for me to give you any tax advice. => Is this legal? It is unless your state prohibits it. It is your award money to do with as you wish and see fit. The fees are not illegal, and we work with attorneys in every instance we fund on. PRO's to Advance Lawsuit Funding: NO risk to you - Non Recourse - if your case doesn't win, you don't pay it back Immediate financial assistance when in need - fast, often in 24-72 hours You can wait for more money from a settlement - not be pressured to settle for less, giving you time to make your case stronger or to be able to stand strong Pay off bills and financial commitments, stop creditor calls Pay medical needs Easier and faster than getting a loan Your credit situation does not factor into being able to be funded No need to be pressured into an early, smaller settlement - buys you time to wait or fight Bad credit situations may apply - when banks won't look at you You are under no obligation when you apply - if you change your mind, it's ok We're ethical, and we don't push you to do this - it's your decision and choice - if you need this option, we're here for you CON's to Advance Lawsuit Funding: May seem expensive - be certain you really need and want to do this - we try to get you the best rates at 2-6% (NOT 15% per month, for instance) Scammers and inept businesses - make certain you trust whom you deal with Longer time to settle - interest keeps adding up Your settlement will be less net to you when it is paid (minus the advance and fees accrued) Some funding agents take months to get you funded, which may be too late for your needs - find out how long it will take before committing Your relationship with your attorney may be strained if he/she does not want you to get funded Send more questions my way - we'll be waiting. Double ii's Services 303-220-5679 or 888-414-4260 P.O. Box 631746, Highlands Ranch, CO 80163 Email URL: http://www.advancelawsuitfunding.com/faq.html, Frequently Asked Questions About Us - we are NOT part of the "cash flow industry" program. Home  About  Newsletter  Privacy Policy  Email Who would you take? You are driving past a bus stop during a snow storm, and you notice your best friend standing there (who, incidentally, had just saved your life last week). When you stop, you find out there is also a woman waiting to get to the hospital, in need. There is also a very attractive person who could turn out to be the love of your life. Since your car only seats two people, who do you give a ride to, knowing you cannot fit any more than two people in your car (not able to put anyone in the trunk or riding on top)? The best answer is: you give your keys to your best friend, and have him drive the woman to the hospital. You get out of the car and stand at the bus stop, waiting with the potential love of your life, taking the time to talk to this person! Visit here for MORE Mind Twisters!