Ally Lawsuit Loans Blog

Oasis Legal Funding

Oasis Financial, LLC was founded in 1996 by attorneys who wanted to find a financial solution for their clients struggling to pay bills and making ends meet during their lawsuits. How Oasis Financial Works Oasis aims to provide financial assistance via pre-settlement funding while the case is being handled, which is a good option for people who need extra cash to get the bills paid. The funding amount is based on the estimated settlement once the case has been closed, and is non-recourse: meaning the client only pays Oasis Legal Finance, LLC back if they win their case. How Ally Lawsuit Loans and Oasis Financial Compare When looking for legal funding, you should compare all of your options. Here are some of the ways that Ally Lawsuit Loans compares to Oasis Financial. Ally Lawsuit Loans Guarantees the Lowest Rate in the Industry For most lawsuit funding companies, the interest rate depends on the nature of your case. At Ally Lawsuit Loans, we guarantee the lowest interest rate in the industry. Both Companies Offer Risk-Free Settlement Funding Both companies offer risk-free funding for lawsuits. This means that if you don’t win your case, then you do not have to pay back the funding amount.  How Long Does it Take for the Companies to Approve Applications? Oasis Financial estimates two full business days to review funding applications. However, they also state that approval for funding varies based on the type of case. Ally Lawsuit Loans approves most funding within 24 hours. Neither Company Performs a Credit Check on Applicants Both Ally Lawsuit Loans and Oasis Financial ignore the credit history of clients applying for lawsuit funding. What’s the Average Lawsuit Funding Amount? Ally Lawsuit Loans provides lawsuit funding anywhere between $500 and $750,000, depending on the case value. As a standard, Oasis Financial only offers funding between $500 and $100,000 in most cases. A pre-settlement fund is when a client receives part of their own settlement upfront and is repaid with the settlement the client receives at the closing of their case. To get a lawsuit cash advance from Oasis Financial, plaintiffs apply on an online form. Oasis Financial reviews the case and contacts the plaintiff’s attorney for more information. After this review, Oasis determines whether to offer the plaintiff a settlement cash advance. Oasis Financial Pricing Customers do not pay an application fee to apply for a settlement cash advance from Oasis Financial, and the company requires no upfront charges. Oasis offers cash advances ranging from $500 to $100,000. Plaintiffs with higher settlement potential (as determined when Oasis Financial reviews each case) are eligible for more money in an Oasis advance. Cash advances are typically between 5-10% of the final settlement. Oasis Financial handles multiple types of cases, including auto accidents, road traffic injuries, workers’ comp, workplace negligence, and others. The company advertises that they will deliver funds to an applicant’s account within 24 hours, once Oasis Financial reviews and approves the lawsuit cash advance. However, this promise includes the disclaimer “as permitted by your state laws,” indicating the lender may not deliver cash that quickly in all states. Benefits of Using Oasis Financial Oasis Financial claims that it is the “largest and most recognized national brand in legal finance.” The plaintiffs in extended personal injury litigation may find Oasis Financial’s cash advances helpful. While plaintiffs wait for their case to settle, their medical bills pile up. Many plaintiffs may be unable to work, putting them in a financially compromised position. Oasis Financial steps in to fill that cash gap, claiming to be a “financial lifeline” for struggling personal injury plaintiffs. With a cash advance from Oasis or other lawsuit settlement advance lenders, plaintiffs access their award before their case settles. Oasis claims that plaintiffs who lose their cases are not obligated to repay their lawsuit cash advance. Disadvantages to Using Oasis Financial Online review site Highya reviewed Oasis Financial. It found Oasis Financial stands out from some other lenders in that it focuses exclusively on lawsuit funding.  However, Highya determined that the most common customer complaints against Oasis Financial were “high fees, which in some instances amounted to more than the final settlement.” If plaintiffs do not repay Oasis cash advance quickly, fees and interest charges could add up to a significant repayment amount. So, if your case extends long after Oasis gives you funding, you face larger sums of interest charges. The State of Colorado sued Oasis Financial in 2010 for “deceptive trade practices and unlicensed lending.” The Colorado Attorney General wanted the company to make proper disclosures to consumers who apply for lawsuit cash advances.  Get Out of Debt Guy reports that before the lawsuit, Oasis was charging customers interest rate APRs “ranging from 60 percent to 125 percent.” Oasis countersued the State of Colorado, asserting that “the state was improperly trying to regulate them as lenders under the Uniform Consumer Credit Code.”

Workers comp loans

Workplace accidents remain a serious problem in the United States. According to data provided by the Bureau of Labor Statistics (BLS), more than 800,000 American workers are forced to miss time on the job every year because of a work injury or an occupational illness. A major workplace accident can put a huge burden on the injured worker and their family. Beyond the medical bills, a worker may also be forced to miss out on their paychecks for an extended period of time. While workers’ compensation provides much needed financial protection, the claims process can sometimes be frustratingly slow. At Ally Lawsuit Loans, we offer the lowest interest rate settlement loans for workers’ compensation claims. Pre-settlement workers’ compensation loans offer an immediate route to obtain compensation when it is needed most. If you are waiting for your workers’ compensation settlement, but you need money right now to pay your bills now, we have funding options available and you can apply for a workers’ compensation loan. Our company is committed to providing better, faster, and more affordable cash-advances to injured workers. To get more information on your workers’ compensation funding options, please do not hesitate to reach out to our lending specialists today.  Workers’ Compensation Loans are Not Available in Every State Our company is able to offer personal injury loans and car accident loans in virtually every community in the United States. However, workers’ compensation settlement loans are not available in the majority of U.S. states. Subject to change and verification, we can offer injured workers pre-settlement funding in the following states: Connecticut; Delaware; Florida; Georgia; IllinoisIndiana; Kansas; Louisiana;Mississippi; Missouri; North Dakota; Rhode Island;South Dakota; Vermont;Washington; West Virginia;  and Wyoming. As rules and regulations can change frequently, you should also check directly with one of our representatives to make sure that we can offer funding in your state. To confirm based on your current state, please contact our legal funding specialists right away. We are more than happy to help you find answers to any questions that you might have about the application process or your eligibility.  Types of Workplace Injuries That Can Qualify For a Workers’ Compensation Loan Broken bonesMalfunction from equipment resulting in injuryBack or shoulder injuriesNeck or head injuriesConstruction site injuriesVision or hearing loss Apply for Workers’ Compensation Loan – Get Help With Your Bills Now Workers’ compensation insurance programs were designed, in part, to help make sure that injured employees would have faster access to financial compensation after a major accident. This allows injured workers to pay their medical bills and provide support to their loved ones. Unfortunately, in practice, the workers’ compensation claims process is not always fast. Quite the contrary, in some cases, it can take months or years for an injured worker to get a full settlement that they rightfully deserve. If you were hurt on the job and you are still waiting for your workers’ compensation check to arrive, you can use your pre-settlement loan to: Pay for your medical treatment;Make your rent or mortgage payments; Cover your living expenses; andAccount for a portion of your lost wages. Regardless of how much funding you are eligible to receive, we always recommend that you take out only what you need to pay your bills and support your family. Workers’ Compensation Settlement Loans: How to Qualify Workers’ compensation settlement loans are based on the strength of the underlying legal case. To qualify for this type of funding, our lending specialists will work directly with your workers’ compensation attorney to determine your likelihood that you will eventually get workers’ compensation payments in the future. The stronger your legal case — meaning the more likely to are to eventually receive a workers’ compensation settlement or ongoing workers’ compensation benefits — the more likely it is that your application for pre-settlement funding will be approved. To be clear, there are no upfront fees associated with getting a loan. In addition, we will not check your credit history nor will we check your employment history. You do not need a bank account to receive funding. Eligibility for a lawsuit loan is based solely on your workers’ compensation claim.  No-Risk Workers’ Compensation Loan — You Only Pay If You Win We offer non-recourse workers’ compensation loans to people who have been hurt on the job. This type of loan is secured by a future workers’ compensation settlement. What happens if you qualify for a loan, but the claim gets denied? If you are approved for a workers’ comp pre-settlement loan, there is no risk involved. If your workers’ compensation claim is denied at a future date, then you will keep the money that you have received, and you will never have to make any payments. We will only be paid back if you win your workers’ compensation case. Period.  Why Choose Ally Lawsuit Loans If you decided to apply for a pre-settlement workers’ compensation loan, it is essential that you work with a reliable and trusted company that will treat you fairly. Unfortunately, there are some unscrupulous lenders that offer workers’ compensation funding with exorbitant interest rates, unfair terms, or hidden fees. At Ally Lawsuit Loans, we are the plaintiffs’ choice for pre-settlement funding. We promise: The lowest interest workers’ compensation loans — guaranteed; Cash arriving in as little as 24 hours after your approval;A streamlined, efficient application process; Fair terms that are clear and concise; andProfessional, friendly customer support that you can rely on. Applying for a workers’ compensation loan can feel like a complicated process. We make it easy. Our pre-settlement loan specialists will work directly with you and your workers’ compensation attorney to make sure that you get the best possible loan. If you have any questions or concerns about workers’ compensation funding, our team is always standing by, ready to assist you.   Ready to Apply for a Pre-Settlement Workers’ Compensation Loan? Call Us Now At Ally Lawsuit Loans, we offer the lowest interest rate workers’ compensation settlement loans to injured employees in more than a […]