Reviews and Ratings of Oasis Legal Finance
With the challenging economy, pre-settlement funding has become more and more familiar. It is designed to help plaintiffs who are in the middle of long legal proceedings. The payers give the plaintiff cash in advance on the damages they are likely to be awarded the promise that the plaintiff will pay back upon receiving their settlement. These companies promise that the plaintiff does not have to pay back if the case does not go their way. However, what they fail to state is that they charge exorbitant interest rates in addition to other hidden costs.
Oasis Legal Finance, based out of Chicago, Illinois, and claims to be the largest and most recognized national brand when it comes to legal finance, providing non-recourse lawsuit funding to individuals involved in personal injury litigation. They claim to offer a fast and efficient method of obtaining the cash you need. None of these claims could be substantiated.
For example, if you are involved in a personal injury lawsuit that leads to loss of your job, your obligations do not stop. You still have your car note, mortgage, legal and medical bills that need to be regularly paid.
Oasis Legal Finance claims to offer an efficient and simple structured settlement payout process that will provide you with the much-needed cash in exchange for selling your future payments after the settlement of your case.
Should I Sell My Structured Settlement to Oasis Legal Finance?
Though the cash provided by Oasis Legal Finance is not a loan, failing to pay it quickly leads to the addition of substantial fees and increased interest rates.
According to NY Times, the rates charged by legal lenders are unregulated, and they can even exceed 100% in a year. This means that if your case exceeds the speculated time, you could end up paying thousands in interest.
- You make an application giving Oasis Legal Finance the permission to speak to your lawyer who contacts them to determine if your case qualifies for the funding.
- Your lawyer prepares documents related to your case including the medical bill summaries, incident reports and retainer agreements.
- If the legal team at Oasis Legal Finance deems your case to be strong, funding is released almost immediately to help you clear your bills.
Website: Oasis Legal Finance
Washington Accord highly recommends DRB Capital as they scored a 9.5/10 in our rating system. You can contact them by calling: