Oasis Legal Finance LLC

Oasis Legal Funding

Oasis Legal Finance, 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 loans while the case is being handled, which is a good option for people who need extra cash to get the bills paid. The loan 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. 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 advance loans 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 loan 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 loans.  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 loans quickly, fees and interest charges could add up to a significant repayment amount. So, if your case extends long after Oasis gives you a loan, you face larger sums of interest charges. The State of Colorado sued Oasis Financial in 2010for “deceptive trade practices and unlicensed lending.” The Colorado Attorney General wanted the company to make proper disclosures to consumers who apply for lawsuit cash advance loans.  Get Out of Debt Guyreportsthat 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.” The Colorado Court of Appeals heard Oasis’ caseand found that the cash advances Oasis offers are classified as loans under the Colorado Uniform Consumer Credit Code. SourceReview OverviewYelp8 Oasis Financial reviews total → 1 out of 5 starsGoogleNo Oasis Financial reviewsFacebook46 Oasis Financial reviews total→ 2.3 out of 5 starsBBBA+ rating, 34 Oasis Financial reviews → 1.5 out of 5 stars Some of the positive things people are saying about Oasis Legal Finance, LLC: Oasis was a big help. They are very straightforward and responsive. Great company. Would definitely recommend them to a friend. Very nice people to help me out. Extremely happy with all at Oasis financial. A.T. from Chicago, IL, left a 5 star review back in February of 2016 via Yelp. Awesome, I asked for a $10,000 loan got it in 24 hours. Thank you Oasis and Jennifer Delgado for helping me get my life up. I needed this push in life. Awesome job.” Mr. Combs gave the company 5 stars in August 2018. Antonio Combs, left a 5 star review on Facebook ..This company stood by me, assisted me within 24 hrs, very professional, outstanding & they are there to assist you.Facebook 5-star review left by Yvankovich Joyce in April 2015 I came to Oasis because I was about to lose my place to live! I was in dying need and received a five day notice with no options at all! Finally I called my lawyer and they recommended me to get an Oasis loan. I called and within six hours I had my money! I just had to request more and it was a success and I can’t express how appreciative I am that there are services out here like this! I hurt my back and had two surgeries and have been disabled and can’t work… I just recently lost benefits and this was my only resort! Thank you again!Nichole from Machesney Park, Illinois left a 5-star review on Consumer Affairs in November 2019 On the other hand, there were some unfavorable outcomes for a few customers: They could improve by being more honest and direct…My case just settled and they are charging me $6,000 and some change, versus what they told me. That’s an INSANE interest rate.Kwame Laster left a 1 star review on the company’s Facebook page …The interest is triple the amount which is horrible. It is very sad how this company […]