What is a Structured Settlement & How Do They Work?

what is a structured settlement and how do they work?

When you file a personal injury lawsuit, you eagerly wait for the day when your settlement payout arrives.

However, you may not know about the many detailed decisions involved in the settlement process.

For instance, should you accept a lump-sum payment or agree to a regularly disbursed structured settlement? 

What is a structured settlement, anyway?  

Structured settlements produce some distinct advantages, but they’re not ideal for every situation.

If you’re considering a structured settlement, you can always sell it later (with court approval) for a lump sum.

STRUCTURED SETTLEMENT TYPES:

Types of Cases Covered Under Structured Settlements

Structured settlements first appeared under Canadian law in personal injury cases concerning a 1950’s drug that caused birth defects.

From there, structured settlements made their way into common law legal systems, including England, Australia, and the United States. 

Structured settlements took advantage of two changing elements in personal injury law:

  • Rising personal injury settlement amounts
  • Changing IRS law that waived tax liability

In the US, structured settlements serve as an option in personal injury cases, including pharmaceutical injury and product liability cases. 

Are you ready to apply?

We offer 24-hour approval on structured settlement purchases. Then, we bring your structured settlement to the court for approval.

STRUCTURED SETTLEMENT INFO:

Pros and Cons of Structured Settlements

Structured settlements provide both benefits and risks to plaintiffs. Here are some factors to weigh before deciding on a structured settlement.

Pros of Structured Settlements:

  • Steady income. Structured settlements provide a steady income for many years. You won’t be able to burn through your money quickly.
  • Tax benefits. United States IRS rules give structured settlements favorable treatment. A person receives tax-free disbursements for the life of the structured settlement.
  • Beneficiary allowed. Many structured settlements allow a named beneficiary to receive settlement payments if the plaintiff dies before the settlement pays out.
  • Option to sell. Structured settlements can be sold or assigned through the courts. This option is useful for paying medical expenses or other debts.
  • Stock market-proof. The stock market fluctuations don’t affect your settlement amount. 

Cons of Structured Settlements:

  • Loss of interest. You lose interest that could accrue if you got your entire payment upfront.
  • Taxation. Some parts of a settlement award, such as punitive damages or attorney fees, may be taxed.
  • Inflexible payment. Structured settlements stick to a set schedule and are not flexible to meet changes in your financial circumstances.
  • Fees and penalties. Withdrawing from or selling a structured settlement brings fees and IRS penalties.

STRUCTURED SETTLEMENT FAQ:

How Does a Structured Settlement Work?

When you file a personal injury lawsuit, your attorney will negotiate the best settlement for you. Though an attorney should always prepare for trial, most plaintiffs and defendants prefer to reach a settlement.

In settlement negotiations, a defense attorney may present the possibility of a structured settlement. At that point, your attorney will bring the settlement option to you.

After discussing the structured settlement, your attorney will ask whether you are ready to sign on that option.

Once you accept a structured settlement, the defendant will pay you through installments of an annuity contract. You will receive regular installments over an extended period until you reach your full award.

Defendants may purchase an annuity for the settlement from an insurance company.

The insurance company is then responsible for managing the structured settlement.

If a plaintiff later decides that they need a lump sum payment rather than installments, they can sell their structured settlement annuity.

Companies such as Ally Lawsuit Loans offer a streamlined structured settlement cashout. The value of the structured settlement at the time of sale depends on:

  • Payments disbursed
  • Amount of scheduled payments
  • Interest rates on the annuity
  • Insurance company creditworthiness

A judge must approve and sign on the sale of a structured settlement annuity.

Apply for a Structured Settlement Today

Now that we’ve answered your question, “What is a structured settlement?” you may be considering this option.

However, maybe you already have a structured settlement but are looking for a way out of it.

If your financial needs changed and you want a lump sum instead of structured settlement payments, contact Ally Lawsuit Loans.

We can purchase your structured settlement annuity in exchange for a lump sum of cash.

We offer 24-hour approval on structured settlement purchases. Then, we bring your structured settlement to the court for approval.

Contact us at (800) 760-0704 to apply for a structured settlement purchase or ask for more information about this option. 


Lawsuit Company Funding Reviews - Reviews From the Web

  • Fair Rate Funding | Reviews From Around the Web
    Fair Rate Funding is a New Jersey based lawsuit loan company founded in 2007. Jump to Section hide I. Some of the good things people are saying about Fair Rate Funding: II. Some of the negative reviews about Fair Rate Funding: III. How Ally Lawsuit Loans and Fair Rate Funding Compare III.I. Ally Lawsuit Loans Guarantees the Lowest Rate for Every Type of Case III.II. Both Funders Offer Risk-Free Lawsuit Loans III.III. Both Funders Approve Loans Within the Same Timeframe III.IV. Neither Funder Performs a Credit Check on Their Applicants III.V. Fair Rate Funding Offers Advances with No Maximum IV. Get a Lawsuit Funding Quote Today They offer pre-settlement loans for people with pending lawsuits who need cash to meet their financial needs. They have their own underwriting process and provide clients with a wide range of cash advancement amounts, depending on the value of their case. Pre-settlement funding provides your money in exchange for part of your future settlement. If you settle your case, the company receives the portion of the settlement they purchased. However, if you lose your case, you don’t have to pay the company back. Fair Rate Funding offers low-interest rates for cases that are more likely to win, like rear-end auto accidents that cause an injury. In most situations, applicants receive approval and a cash advance within 48 hours. Fair Rate Funding also provides funding for almost every type of case, ranging from car accidents and medical malpractice to product liability and workers’ compensation. SourceYelpGoogleFacebookBBBConsumer Affairs Review Overview3 reviews → 3.5 out of 5 stars21 reviews → 4.6 out of 5 stars1 review → 5 out of 5 starsA+ rating, no reviewsNo reviews Some of the good things people are saying about Fair Rate Funding: They worked hard until I was able to get funded for the funds I needed. I researched all the major competitors. And, I would highly recommend this company over the other companies in the industry. EXCELLENT! Rebeca M. from California left a 5-star Yelp review in 2017 Awesome rates, good customer service and for being 6 hrs behind, Marjie and Paul were very helpful and straightforward. You guys helped me out tremendously and I really appreciate it. Evan T. left a 5-star Google review in July 2019. Some of the negative reviews about Fair Rate Funding: Funding was quick and fast. Fees were and are high including the sending fee which isn’t known until it’s deducted. Roscoe H. left a 3-star Google review in 2018. They are slow, annoyed by phone calls, and then use fraudulent info to deny just to get you an answer. Please use someone else. Tamara S. from Florida left a 1-star Yelp review in 2015. How Ally Lawsuit Loans and Fair Rate Funding Compare When searching for lawsuit funding, it is imperative to know all of your options. Here is how Ally Lawsuit Loans compares to Fair Rate Funding. Ally Lawsuit Loans Guarantees the Lowest Rate for Every Type of Case For many funders, the interest rate of a lawsuit loan depends on the nature of your case. In fact, Fair Rate Funding states that someone that sustains injuries in an auto accident will have a loan with a lower interest rate than someone who slips and falls. In contrast, Ally Lawsuit Loans guarantees the lowest interest rate in the industry for all case types. Both Funders Offer Risk-Free Lawsuit Loans Both funders offer risk-free loans regardless of the case. If you don’t win your lawsuit, then you do not have to pay the lender back for the loan.  Both Funders Approve Loans Within the Same Timeframe Fair Rate Funding claims that it has a 24 to 48-hour approval process. Afterward, they wire funds to the client within 24 hours. Ally Lawsuit Loans approves and distributes most loans within 24 hours, with very few exceptions. Neither Funder Performs a Credit Check on Their Applicants Most lawsuit loan companies do not check your credit while reviewing your application for lawsuit funding. Both Ally Lawsuit Loans and Fair Rate Funding ignore credit during the application process. Fair Rate Funding Offers Advances with No Maximum Depending on the value of the case, Ally Lawsuit Loans offers cash advances ranging from $500 and $750,000. Fair Rate Funding has a minimum of $500 advance but does not have an absolute maximum amount. Get a Lawsuit Funding Quote Today Contact Ally Lawsuit Loans if you cannot wait for your settlement. Our application is quick and easy. We guarantee the lowest rate for your case and approve most applications within 24 hours. Our loans are also risk-free; you don’t have to pay us back unless you win your case. Apply today for pre-settlement funding or call 800-760-0704 to learn more about lawsuit loan solutions.
  • Cherokee Funding | Reviews From Around the Web
    Founded in Atlanta in 2011, Cherokee Funding provides plaintiffs with lawsuit funding. Cherokee Funding operates by providing plaintiffs with settlement advances to pay living expenses while awaiting a lawsuit settlement.  Jump to Section hide I. How Cherokee Funding Works I.I. Cherokee Funding Pricing I.II. Benefits of Using Cherokee Funding I.III. Disadvantages of Using Cherokee Funding I.IV. Positive Cherokee Funding Reviews I.V. Negative Cherokee Funding Reviews II. Get a Lawsuit Funding Quote Today How Cherokee Funding Works After a plaintiff applies for a settlement advance with Cherokee Funding, the company reviews the case. Cherokee Funding contacts the plaintiff’s attorneys and reviews documentation before determining if the plaintiff is eligible for a lawsuit advance. Cherokee Funding advertises that they fund the following types of lawsuits: AccidentsGeneral, Construction, and Premise NegligenceMedical MalpracticeProduct LiabilityWrongful Death The company indicates that “same day funding” applicants can receive between $500-$50,000 by the next day. Cherokee states that they fund up to 10-15% of a case’s settlement value.  Cherokee Funding Pricing Cherokee advertises no up-front fees to apply for a lawsuit cash advance. Plaintiffs repay the settlement advance, plus fees, once they receive a settlement. However, if a plaintiff loses their case, the plaintiff does not have to repay Cherokee Funding. Cherokee Funding advertises that their goal is to provide legal funding “at the lowest cost possible.” The company also lists transparency as a core value. However, the company website does not disclose the interest rates or fees charged to clients.  Cherokee Funding indicates that the client contract discloses fees and a repayment schedule. On the FAQ section of their website, Cherokee Funding indicates that they do not have consistent rates: “Our rates change from time to time so please make sure to ask at the time of application.” Benefits of Using Cherokee Funding Cherokee Funding promises the lowest rates in the industry. They claim to be 100% transparent and to hold membership in the watchdog American Legal Finance Association (ALFA). Cherokee Funding lists these values: TeamworkHelping those in needNo finger-pointingTransparencyGoing the extra mile  The company indicates that some clients have achieved higher settlement offers by taking a lawsuit cash advance. The advance apparently gave those clients financial stability that enabled them to wait for a larger settlement. Applying for a Cherokee Funding settlement advance, like settlement advances from other lawsuit funding companies, should reduce financial stress for plaintiffs waiting for cases to settle. Disadvantages of Using Cherokee Funding Former clients sued Cherokee Funding in 2017 in Ruth v. Cherokee Funding. One client claimed that Cherokee Funding advanced him less than $10,000 but demanded repayment of $84,000. Based on this lawsuit, applicants should carefully review interest rates and fees before signing with Cherokee Funding. Applicants should consider repayment terms and whether fees seem excessive. Cherokee Funding may prove a helpful source of cash flow while waiting out a lawsuit. However, clients might owe much more money than they originally borrowed due to interest and fees. The money owed could use much of the plaintiff’s settlement. Positive Cherokee Funding Reviews “Real friendly and helpful. I was new to the process and they walked me thru how it worked. Got my money the next day!” --Tyler Stevens, 5-star Google review “Great and fast service!! I recommend them to anyone.” --Teresa Evans, 5-star Google review “Extremely helpful in my time of need. Wouldn’t even let me off the phone until they were sure that I completely understood the process and felt 100% comfortable moving forward. And the process was super quick. 24 hours later they called to tell me I was approved. They are awesome and have my highest recommendation.”--Pandora Swint, 5-star Trustpilot review “When I needed it they came through. I wish the fees were not so high but I appreciate them nonetheless.”--Talib Shabazz, 5-star review on Trustpilot Negative Cherokee Funding Reviews “Run Don’t Walk Bad Management.”--Former Employee Administration in Atlanta, GA, Glassdoor review “Didn’t get my check on time don’t know where my checks it not really happy”--Damon Locke, 1-star Trustpilot review “Horrible experience. Customer service was off and on almost depending on who you talked to. I made the calls and my loan stayed in underwriting over a week with no explanation. Waist of time!!”--SB, 1-star review on Trustpilot “Worse experience ever the company policy must be to tell lies because that's all I heard web states same day and a week later they came thru totally discussed with the service I received” --Shy Shy, 1-star Google review “In the event you're waiting for a settlement and need funds, DO NOT use this company to acquire assistance unless you absolutely cannot find help otherwise. The amount of interest these people charge should be illegal. For a $500 loan, you could end up paying almost $1500 in a little over a year's time.”--Bree Johnson, 1-star review on Google Get a Lawsuit Funding Quote Today If you need cash while you wait for your lawsuit settlement, contact Ally Lawsuit Loans. We offer the lowest rate guarantee and will let you know if you qualify within 24 hours. If you lose your lawsuit, you owe Ally Lawsuit Loans nothing. Lawsuits are stressful, but Ally Lawsuit Loans can help. Apply today, and reduce your financial stress while you wait to settle.
  • Momentum Funding
    Momentum Funding has a team with over 40 years of combined experience in legal finance and personal injury law. Their mission is to help personal injury clients find financial relief during the stressful and lengthy process of a lawsuit. Jump to Section hide I. Customers who had satisfactory experiences with Momentum Funding are saying: II. Unfortunately, there was also an unfavorable outcome for one customer: III. How Ally Lawsuit Loans and Momentum Funding Compare III.I. Ally Lawsuit Loans Guarantees the Lowest Rate for Funding III.II. Both Lenders Offer Risk-Free Loans III.III. Both Lenders Approve Applications Within 24 Hours III.IV. Neither Lender Requires a Credit Check III.V. Ally Lawsuit Loans States Loan Amounts Upfront IV. Get a Pre-Settlement Funding Quote Today Using an online application, clients are able to provide all the information necessary for the claims process and potentially can receive their cash advancement the following day. A job and credit are not required to be qualified for financial assistance. They provide non-recourse pre-settlement lawsuit funding and post-settlement funding to clients who are in lawsuits for personal injury or workers’ comp cases. If you lose your case, you don’t owe Momentum Funding anything. A few of the eligible cases they fund include automobile accidents, nursing home neglect, general negligence, and premises liability. SourceReview OverviewYelpNo reviewsGoogle50 reviews → 4.2 out of 5 starsFacebookNo reviewsBBBA+ rating, 9 reviews → 4 out of 5 stars Customers who had satisfactory experiences with Momentum Funding are saying: These guys are Awesome. My Family was in need of help and they got right on it. We had funds we requested in less than 24 hours. Very professional and caring company. A major blessing!In April 2018, Kiona J. gave 5 stars on the Better Business Bureau. On one occasion a team member stayed after hours on a Friday to make sure my client received their funds and then confirmed with me that the client received their funds.In August 2017, Javier H. gave a 5 star review. Without a doubt the most professional and respectable business I have dealt with in a very long time...In August 2017, Geoffrey P. gave a 5 star review. Unfortunately, there was also an unfavorable outcome for one customer: Shelley T criticized the company saying, Through Credit Karma I found that Momentum Funding ran a hard credit inquiry on me. I had just enough credit to get a non-secured credit card. Now I don't. I never asked them for anything nor did I contact them in any way...Shelley T. left a 1 star review on the BBB profile page. Marsha M recently left an unfavorable review in August 2019 stating.. I called for addition funding in August 2019 instead of the eager cheerful rep as when I received the first loan, I ended up getting the phone hung up on me twiceMarsha M. left a 1 star review on the BBB profile page. How Ally Lawsuit Loans and Momentum Funding Compare When choosing a lawsuit loan lender, it is essential to shop around and compare your options. Here are some of the similarities and differences between Ally Lawsuit Loans and Momentum Funding. Ally Lawsuit Loans Guarantees the Lowest Rate for Funding In many situations, the rate of your lawsuit loan depends on the nature of your case. In contrast, Ally Lawsuit Loans guarantees the lowest interest rate in the industry. Momentum does not have a guaranteed interest rate for their funding. Both Lenders Offer Risk-Free Loans As with many lawsuit loan companies, both Ally Lawsuit Loans and Momentum Funding offer risk-free funding. If you do not win your case, you owe them nothing. Both Lenders Approve Applications Within 24 Hours Ally Lawsuit Loans and Momentum Funding approve applications very quickly. After each company receives paperwork from your attorney, it only takes 24 hours to receive funds in most cases. Neither Lender Requires a Credit Check Since lawsuit loan lenders purchase a part of your settlement, they don’t typically require a credit check. Ally Lawsuit Loans and Momentum Funding do not request a credit check when you apply for a loan. Ally Lawsuit Loans States Loan Amounts Upfront Ally Lawsuit Loans offers lawsuit funding ranging from $500 and $750,000, depending on the value of your case. Momentum funding does not explicitly state its funding range for typical cases. Get a Pre-Settlement Funding Quote Today Contact Ally Lawsuit Loans if life won’t wait for your settlement. We guarantee the lowest rate in the industry and a streamlined application process. Most importantly, our loans are risk-free; you don’t pay us back unless you win your case. Apply today or call 800-760-0704 to learn more about our pre-settlement lawsuit funding.
  • Peachtree Financial Solutions
    Peachtree Financial Solutions is a Pennsylvania based company that was purchased by J.G. Wentworth in 2011. Jump to Section hide I. Some of the good things people are saying about Peachtree Financial Solutions: II. However, there were also customers who were not pleased with their encounters: III. How Ally Lawsuit Loans and Peachtree Financial Solutions Compare III.I. Ally Lawsuit Loans Guarantees the Lowest Rate in the Industry III.II. Both Companies Offer Risk-Free Loans III.III. Ally Lawsuit Loans Approves Applications Faster III.IV. Neither Company Performs a Credit Check on Applicants III.V. Both Companies Offer Similar Loan Amounts IV. Get a Lawsuit Funding Quote Today Peachtree Financial provides a financial option to people who have been injured, or who have suffered a loss, by giving an offering upfront cash advancements. They will connect clients with companies who can provide the cash advancements, and the amount you’re eligible for depends on the estimated value of your case. Pre-settlement lawsuit funding on behalf of the company can provide you with money now in exchange for part of your future settlement- this is not a loan. These are non-recourse, so once your case is settled, the company receives the portion of the settlement they had purchased. If you lose your case, you do not need to pay the company back. Peachtree Financial Solutions is able to offer a quote in as little as 48 hours after the application has been completed. In most cases, the client is able to receive their cash advancement in 1-3 business days, but it is a case by case scenario. Claims that are eligible to be funded include personal injury, premises liability, medical malpractice, and others. SourceReview OverviewYelpNo reviewsGoogle16 reviews → 4.1 out of 5 starsFacebookNo reviewsBBBA+ rating, no reviewsConsumer Affairs60 reviews → 4.9 out of 5 stars Some of the good things people are saying about Peachtree Financial Solutions: Really fast and great customer service! Will always go the extra mile to make sure you’re taken care of. Glad I went through peach tree for my 3rd transaction. Highly recommend! Jordan Lavalley left a 5 star Google review in 2018. Low initial offer but was able to match competing offers...Communication was easy and so was the process. Pleasure to work with this organization.Crystal from Windsor, CT gave 4 stars in a Consumer Affairs Review from her experience in February 2019. However, there were also customers who were not pleased with their encounters: Called and they were very rude and no help to me. Never called to let me know they have closed my case down.Kollisha left a one-star review on Google in May 2019 Charge loan shark rates, and take too many monthly payments. Take advantage of people... Alexander from Pslucie, FL. left a 2 star review in Consumer Affairs. If you are not eligible for funding, they won't call you nor email and let you know. I would advise you to do business with another company. Strange.Charles of Laveen, AZ, wrote in a review from December 2018. How Ally Lawsuit Loans and Peachtree Financial Solutions Compare It is essential to compare all of your options when searching for a lawsuit loan. Here is how Ally Lawsuit Loans compares to Peachtree Financial Solutions. Ally Lawsuit Loans Guarantees the Lowest Rate in the Industry For many lawsuit loan providers, the interest rate of a loan depends on the nature of your case. Ally Lawsuit Loans guarantees the lowest interest rate in the industry for your case. Peachtree Financial Solutions does not explicitly guarantee the lowest interest rate. Both Companies Offer Risk-Free Loans Both companies offer risk-free lawsuit funding. If you don’t win your case, then you do not have to pay back the loan.  Ally Lawsuit Loans Approves Applications Faster Peachtree Financial Solutions provides clients with an approval notice within 48 hours. However, once the client accepts the offer, it may take 24 to 72 hours to receive the loan depending on the case. In contrast, Ally Lawsuit Loans approves and distributes most loans within 48 hours. Neither Company Performs a Credit Check on Applicants Neither Ally Lawsuit Loans nor Peachtree Financial Solutions check your credit while reviewing your loan application. Both Companies Offer Similar Loan Amounts Ally Lawsuit Loans offers lawsuit loans ranging from $500 and $750,000, depending on the case value. Peachtree Financial Solutions provides loans between $300 and $750,000 in most cases. Get a Lawsuit Funding Quote Today Contact Ally Lawsuit Loans when life won’t wait for your settlement. Our application is a breeze. We guarantee the lowest rate in the industry and qualify you within 24 hours. Our risk-free loans also offer you peace of mind; you don’t have to pay back your loan unless you win your case. Apply today and relieve some of your financial stress or call 800-760-0704 to learn more about our pre-settlement loans.
  • The Legal Funding Group, LLC
    The Legal Funding Group, LLC has professionals specializing in pre and post-settlement funding to create a personalized experience for clients. Jump to Section hide I. Some of the good things people are saying about The Legal Funding Group, LLC: II. Unfortunately, there were some unfavorable outcomes for a few customers: Their funding resources allow them to offer pre and post-settlement funding in as little as 24 hours after the application has been submitted. They will work with your attorney to gather information to provide fast cash advancements for people in need. Their underwriters will review each case carefully to make sure you’re taken care of. The types of cases The Legal Funding Group can fund include: motor vehicle accidents, workers’ comp, and wrongful death or other personal injury claims. Often times when people are injured they are set back financially and this can create a huge amount of stress during their lawsuit. Cash advancements can help clients can focus on recovering from their injuries, and not stressing over the financial obligations. SourceReview OverviewYelp1 review → 1 out of 5 starsGoogle4 reviews → 2 out of 4 starsFacebookNo reviewsBBBC rating, 1 review → 1 out of 5 stars Some of the good things people are saying about The Legal Funding Group, LLC: Excellent courteous help. I was funded in less than 24 hours. Due to a violent assault I lost my job and my health. This was the most reasonable price, and saved me until the trial is over. Thank you so very much!Anita Kernacs was pleased with the experience and gave a 5 star rating in 2018. Unfortunately, there were some unfavorable outcomes for a few customers: The Better Business Bureau gives The Legal Funding Group, LLC a “C” rating. Very rude people and poor customer service..not helpful at all.Jameka Bethelm, a previous customer, left a 1 star review in February 2019. I wish I would have checked on here before choosing them. Really awful service. They charge $100 for a wire transfer and more for money gram. That's AFTER all the other fees and before you get the loan.Heather S. left a 1 star review on The Legal Funding Group's BBB page.
  • Case Cash, LLC
    Case Cash has been in business for the past 15 years and aims to provide financial freedom for plaintiffs to move on with their lives as their lawsuit case is ongoing. Jump to Section hide I. Some of the good experiences people had with Case Cash, LLC II. Customers who were not pleased with their experience are saying: III. How Ally Lawsuit Loans and Case Cash Compare III.I. Ally Lawsuit Loans Guarantees the Lowest Rate in the Industry III.II. Both Companies Offer Risk-Free Loans III.III. Both Companies Distribute Loans Quickly III.IV. Ally Lawsuit Loans Approves Applications Faster IV. Get a Lawsuit Funding Quote Today People who have been injured are often left unable to work and the increasing financial burden can be extremely stressful. By offering cash advances based on the potential of the pending lawsuit, clients are able to pay bills and get back on their feet even if they are unable to work. Often times, receiving a pre-settlement loan can give the client some more time to pursue their case, which could end in a higher settlement amount. Pre and post-settlement advances are offered which can have same day approval for clients in need, and if the lawsuit does not reach a settlement, the plaintiff will owe Case Cash nothing. SourceReview OverviewYelp2 reviews → 3 out of 5 starsGoogle22 reviews → 4.3 out of 5 starsFacebookNo reviewsBBBNo reviews Some of the good experiences people had with Case Cash, LLC This is a GREAT office. The process is very quick and easy… Alana G. from New York, NY rated the company with 5 stars in March 2015 in a Yelp review. Help me a lot during my case. Great place, great front desk workers- they all need raises. J. Braxton gave 5 stars in November 2018 in their evaluation. Customers who were not pleased with their experience are saying: They really really take a long time to approve anything. Dee Perri left a 3 out of 5 star review in February 2019. The worst receptionist ever, will never deal with them again, very unprofessional and extremely rude.Ramsey S. from Manhattan, NY left a 1 star review on Case Cash LLC's Yelp page. It took them two months! to make a decision on a very small loan on a settlement already paid off, but being held for a transferred into a trust account...Maritza P from Bronx, NY left a 1 star review on the company's Yelp page. How Ally Lawsuit Loans and Case Cash Compare When searching for a lawsuit loan, it’s important to compare your options. Here is how Ally Lawsuit Loans compares to Case Cash. Ally Lawsuit Loans Guarantees the Lowest Rate in the Industry While many lawsuit loan companies offer competitive rates, Ally Lawsuit Loans guarantees the lowest interest rate in the industry. In contrast, Case Cash does not explicitly guarantee the lowest rate but instead promises standard competitive rates. Both Companies Offer Risk-Free Loans Both companies offer risk-free lawsuit loans to their clients. If your lawsuit does not receive a judgment or settlement, you do not need to pay back the loan. Both Companies Distribute Loans Quickly Case Cash and Ally Lawsuit Loans distribute most loans within 24 hours. Ally Lawsuit Loans Approves Applications Faster According to reviews, Case Cash takes anywhere from 24 hours to 4 months to approve a loan application. At Ally Lawsuit Loans, most applicants receive a decision within 24 hours. Get a Lawsuit Funding Quote Today Contact Ally Lawsuit Loans when you need money to pay your bills while awaiting settlement. Our application is quick and easy. We offer the lowest rates in the industry guaranteed and most applicants qualify within 24 hours. Our lawsuit loans also come with a risk-free guarantee; if you don’t win your case, you don’t have to pay back your loan. Take the first step and apply today or call 800-760-0704 to learn more about our pre-settlement lawsuit loans.
  • Buckeye Legal Funding
    Buckeye Legal Funding promises to keep their rates competitive in order to remove the complications and overwhelm when providing financial assistance to people in need. Their team will be on contact with the attorneys to receive all the information needed to make a decision. Jump to Section hide I. Here are some recent reviews for Buckeye Legal Funding: II. Some of the good things people are saying about Buckeye Legal Funding: III. But, there were some unsatisfactory results for a few customers: When people are burdened from the financial strain of going through a lawsuit, the cash advances Buckeye Legal Funding provides can offer breathing room in a tight budget. There is no credit check involved, no monthly payments and no job is required to apply for pre-settlement lawsuit funding. Choosing a non-recourse cash advance helps clients pay basic life necessities while their lawsuit is ongoing- this can often result in a higher settlement figure for the client. They set strict limits on just how much a client’s advance will be, which is known at the beginning of the process; if you lose your case, you keep the money from the cash advance. Buckeye Legal Funding works with personal injury, auto accidents, slip and fall, employment and other cases. SourceReview OverviewTrustpilot537 reviews → 4.5 starsGoogle58 reviews → 3.1 out of 5 starsFacebook12 reviews → 2.7 out of 5 starsBBBA+ rating, 10 reviews → 5 out of 5 stars Here are some recent reviews for Buckeye Legal Funding: The application process was easy, however the approval process took a few days, which was longer than expected. Communication was somewhat lacking during this process, however when the application was finally approved, everything went smoothly.Patrick wrote a 4 star review on Trustpilot in October 2019. ..I've had nothing but good experiences with everything and everyone that I've spoken with.5 out of 5 star review left on Google by Mike Everson in September 2019 I asked for a specific amount and got nothing near that and it took over two weeks...2 out of 5 star review left on Trustpilot from Suhad Hasan in July 2019 Staff is professional and nice however the intrest rates are to high...it'll be best to find other options to your financial needs.Taquana Bezua recently left a Google review with 3 out of 5 stars in June 2019. Some of the good things people are saying about Buckeye Legal Funding: Everything was explained so that I could understand. Thank you so much for your help.5 star review left by Gary Osteen on Trustpilot in October 2019. They didn't give me what I needed but they was overall helpful. Concern and compassionate.Trustpilot review left by Robertson Mulbah in September 2019. Fast service, good communication and friendly.Christine Petroff reviewed the company with 5 stars in March 2019 on Trustpilot. They gather all the required information very quickly. The internal processing is complete within two days, where from start to finish the funds were in hand in a matter of three days... Buckeye Legal Funding’s Better Business Bureau Profile shows a review from Edward S. in August 2018. But, there were some unsatisfactory results for a few customers: At the end of August in 2019, there was a one-star review left by Lashea Arrington claiming: A waste of time no clear reason to why I was declined.Lashea left a 1 star review on the company's Trustpilot page In November 2016 Tracy Charles criticized the company: I have a pending case and I was denied without any kind of explanation to why… Charles left a 1 star review via their Facebook page. At first glance they seem like a great company. However, they claim to get you what you need when you need it. But definitely not the case.Matt Hinds wrote this 2 star Google review in November 2018. The process (for me anyways) took WAY longer than it should of (confirmed by my lawyer and even my Buckeye agent) meaning almost 2 weeks instead of 2 days. And I'm yet I'm forced to pay literally HALF of my asking amount back in interest alone, for an "emergency loan" that didn't even help me with my emergency because it took them so long to get it to me. Only reason I even gave it one star is because I actually ended up with SOME money out of all of it.Tiffany left a 1 star review on Trustpilot in November 2019.
  • Prime Case Funding
    Prime Case Funding understands that litigation can take more time than a client would like - and they strive to meet specific borrowing needs for clients who need cash during their stressful case. Jump to Section hide I. Some positive feedback people have about Prime Case Funding: II. However, there were some unfavorable outcomes for a few customers: After speaking with the client’s attorney and getting all the information needed, they aim to have a decision made within 24 hours. Each case is considered carefully and funds all types of cases such as: personal injury, surgery funding, medical malpractice, civil cases, and false imprisonment. Through pre-settlement case funding and post-settlement funding, Prime Case Funding helps their clients pay mortgages, medical bills, utilities during the financial burden of a lengthy lawsuit. These cash advances are based on the potential estimates of the client’s settlement, and will only be repaid if the case is won- there is no risk for the client. SourceReview OverviewYelp5 reviews → 3 out of 5 starsGoogle103 reviews → 4.8 out of 5 starsFacebook13 reviews → 5 out of 5 starsBBBA+ rating,3 reviews →  4 out of 5 stars Some positive feedback people have about Prime Case Funding: I rarely write yelp reviews but my experience with Prime Case Funding was so phenomenal that I felt I had to write this... What I found was an extremely professional and upfront company that seemed to really care about my situation and who were extremely honest about the cost structure… Erin U. from Venice, CA left a 5 star review on Yelp in October 2016. Very nice staff- made it easy for me; will recommend to friends and family.Nicole Polanco left a 5 star review on Google in January 2019. I was grateful for such ease in the lending process. And quick funding!Emily L. left a 5 star review on Yelp in July 2019. Prime case funding has been very helpful in a time of need. I appreciate their professionalism and willingness to assist with financial issues.Annie S. left a 5 star review on Yelp in July 2019. Very courteous and professional. Advance was processed in a timely manner. Thank you for your assistance in difficult circumstances.Annie Stephens left a 5 star review on Birdeye in May 2019 However, there were some unfavorable outcomes for a few customers: First, it took over a week- not 24hrs to get my loan. (My lawyer advised against it, but I was in a bind.) I was told the interest rate would be about 3%, but the contract actually showed 51%. In addition to the interest, there was a $400+ application fee. They close at 5pm EST on Friday for the weekend.On Yelp, Rosanna L. from Wylie, TX rated Prime Case Funding a 1 star in June 2014. I looked for several funding companies, including this one. Most of them charge fees and compound their interest. Most of them add up to like 60-90% a year…An anonymous customer review on Prime Case Funding’s Better Business Bureau profile page gave the company 3 out of 5 stars in November 2016.
  • Oasis Legal Finance, LLC
    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. Jump to Section hide I. How Oasis Financial Works II. How Ally Lawsuit Loans and Oasis Financial Compare II.I. Ally Lawsuit Loans Guarantees the Lowest Rate in the Industry II.II. Both Companies Offer Risk-Free Loans II.III. How Long Does it Take for the Companies to Approve Applications? II.IV. Neither Company Performs a Credit Check on Applicants II.V. What’s the Average Lawsuit Loan Amount? II.VI. Oasis Financial Pricing II.VII. Benefits of Using Oasis Financial II.VIII. Disadvantages to Using Oasis Financial II.IX. Some of the positive things people are saying about Oasis Legal Finance, LLC: II.X. On the other hand, there were some unfavorable outcomes for a few customers: III. Get a Lawsuit Funding Quote from Ally Lawsuit Loans 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. 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 loan 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 Loans 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 loan.  How Long Does it Take for the Companies to Approve Applications? Oasis Financial estimates two full business days to review loan applications. However, they also state that approval for funding varies based on the type of case. Ally Lawsuit Loans approves most loans 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 a lawsuit loan. What’s the Average Lawsuit Loan Amount? Ally Lawsuit Loans provides lawsuit loans anywhere between $500 and $750,000, depending on the case value. As a standard, Oasis Financial only offers loans 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 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 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 advance loans.  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.” The Colorado Court of Appeals heard Oasis’ case and found that the cash advances Oasis offers are classified as loans under the Colorado Uniform Consumer Credit Code. SourceReview OverviewYelp9 Oasis Financial reviews total → 1 out of 5 starsGoogleNo Oasis Financial reviewsFacebook53 Oasis Financial reviews total→ 2.3 out of 5 starsBBBA+ rating, 33 Oasis Financial reviews → 1.5 out of 5 stars Some of the positive things people […]

How to Find the Best Lawsuit Loan Companies

| Read Time: 3 minutes

If you need financial stability while waiting to settle your lawsuit, you’re probably aware that there are several pre-settlement loan companies who want a portion in exchange for a cash advance. It is essential that you know how to separate the best pre-settlement loan companies from the deceptive ones. The lender you choose has an impact on the amount of money you receive from your settlement, so it’s very important to do research into potential lenders to make sure the company you choose is a good fit. Here’s how to find the best lawsuit loan companies for your case. Best Lawsuit Loan Companies Below is a list of the top 10 settlement loan companies to compare when shopping around for lawsuit funding. Click on each lawsuit loan company to read about reviews around the web. Make sure to consider all of your options. Ally Lawsuit LoansPeachtree Financial SolutionsOasis Legal FinanceThe Legal Funding GroupBuckeye Legal FundingPrime Case FundingMomentum FundingFair Rate FundingCase CashCherokee Funding Top 5 Questions to Ask a Lawsuit Loan Company While looking for the best lawsuit funding companies, it is important to ask each lender questions that help you gauge the potential cost of the loan. Asking these questions will help you choose the best lawsuit pre-settlement loan company. #1: How Do You Set Interest Rates on Pre-Settlement Loans? The best lawsuit loan companies determine interest rates on a case-by-case basis based on the strength of each case. Interest rates largely depend on the likelihood of your case resulting in a good settlement or verdict. Do not work with a pre-settlement funding company that charges the same interest rate for every customer. #2: What is the Interest Rate for My Pre-Settlement Cash Advance? When you get an offer for pre-settlement funding, a lender should tell you upfront what your interest rate is before you sign paperwork. The best lawsuit funding companies will usually give you an interest rate between 1-3% monthly. If a lender gives you a rate higher than 3%, consider looking for another offer. #3: What Are the Terms and Conditions of the Loan? Since filing for a lawsuit is very overwhelming, the terms and conditions of pre-settlement funding should be simple. The best settlement loan companies offer clear, concise terms and conditions for their loans. Never work with a lender that refuses to answer questions about the terms of your loan. #4: Will You Discuss My Funding Application With My Lawyer? Before you get a pre-settlement loan, you need to be represented by a lawyer and have a lawsuit filed on your behalf. The best lawsuit loan companies will always ask to speak to your lawyer about your case when you apply for funding. Your lawyer gives the lender information about your case to assist in case evaluation and underwriting. #5: How Quickly Will I Get My Pre-Settlement Cash Advance? Since reputable settlement loan companies don’t require a credit or background check, most lenders transfer money to you within 24 hours of approval. Why You Should Choose Ally Lawsuit Loans If you are trying to find the best lawsuit loan companies, consider funding from Ally Lawsuit Loans. At Ally Lawsuit Loans, we understand how difficult it is to maintain financial stability during a lawsuit. We provide legal funding for those waiting on their settlement for cases ranging from personal injury to workers’ compensation. Lowest Rates Guaranteed No matter what type of case you have, we guarantee the lowest rate in the industry. If you find a low-interest rate while searching for the best pre-settlement loan companies, we will beat it. Risk-Free Our loans are 100% risk-free. That means if you don’t win your case or get a settlement, you pay us nothing. Quick and Easy Application Assuming your case is a good fit, we send you a cash advance within 24 hours of application approval. Contact a Reputable Settlement Loan Company Today If you need a risk-free, low-interest rate loan to keep your head above water while waiting for a settlement, give Ally Lawsuit Loans a call today at 844-545-6246 or apply now. We offer the lowest interest rates in the industry and provide cash advances within 24 hours of approval.

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Are Car Accident Settlements Taxable?

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If you receive a settlement from a personal injury case involving a car accident, you might be wondering if you owe any taxes on your settlement earnings. According to the IRS, if you receive a settlement due to physical injuries or sickness and don’t take an itemized deduction for medical expenses due to the injury, your settlement isn’t taxable. However, there are some exceptions to this rule depending on the details of your personal injury case. So, are car accident settlements taxable? In this article, we will explore the different factors in your case that affect the taxability of your settlement earnings. What Portion of My Car Accident Settlement is Taxable? Your car accident settlement might be taxable in certain instances. The type of compensation the IRS finds taxable in personal injury cases includes: Lost wages;Damages due to emotional distress;Punitive damages; andInterest earned on a settlement. Since lost wages replace what you would have earned working, the IRS considers this type of compensation as regular wages. In fact, the IRS taxes compensation for lost wages similarly to regular wages. However, if you receive multiple years of lost wages in your settlement, you might be taxed as part of a different tax bracket. For example, if you usually earn $30,000 per year and you receive $90,000 of lost wages in your settlement, your federal tax bracket changes from a 12% income tax rate to 24%. What Parts of My Car Accident Settlement are Tax-Exempt? Usually, compensation for physical injury isn’t taxable in a car accident settlement. Whether you settle your case before or after filing a lawsuit, you don’t have to pay taxes on your settlement earnings.  Generally, any damages you recover as a result of an injury or illness aren’t taxable at the state or federal level. This includes pain and suffering in many cases. How to Reduce Your Car Accident Settlement Tax Obligation If you work with an attorney, you might be able to reduce or even eliminate your tax obligation. To reduce the amount of taxable earnings in your settlement, ensure that you classify your damages carefully.  You might also consider exploring structured settlements instead of a lump sum settlement. Since structured settlements split your compensation into multiple installments, you may be able to exclude some of your settlement earnings from your current tax year. Need Help Paying Bills While Waiting for a Settlement? Apply for Funding Through Ally Lawsuit Loans Today If you sustain injuries in a car accident, you might not know how to keep financially afloat while you recover. While waiting for your personal injury settlement, expenses like medical bills, attorney’s fees, rent, and more might pile up, especially if you can’t work. If you ever find yourself in this position, consider pre-settlement legal funding from Ally Lawsuit Loans. Our loans give plaintiffs peace of mind while they wait for their lawsuit to settle. Not only do we guarantee the lowest rates in the industry, but we also offer risk-free funding. If you don’t win your case, you don’t have to pay us back. If you would like to apply for a lawsuit loan or want to know if your potential car accident settlement is taxable, give us a call at 844-545-6246. We deliver cash to applicants within 24 hours of approval.

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Hit and Run Lawsuit Loans

| Read Time: 2 minutes

Like any accident, hit-and-runs leave a devastating impact on your physical and financial well-being. If you sustain injuries from a hit-and-run accident, you might need help paying for medical treatment or other living expenses while you recover. Thankfully, pre-settlement funding can help you keep you financially afloat while you wait for your hit-and-run lawsuit to settle. Here’s what you need to know about hit-and-run injury claims and how a lawsuit loan may help. What to Do If You Are a Victim of a Hit-and-Run If you ever get hit by a driver and they flee the scene, immediately contact the police. When the police find the suspect, you may file a claim against their insurance company. However, if the police cannot find the driver, you must file a claim with your auto insurer.  In the event of a hit-and-run accident, you should follow these steps to ensure your safety and build your case: Call 911 and request an ambulance if you are injured;Try to write down as much information as you can about the suspect’s vehicle including the model, year, color, and license plate number;Get checked out by a doctor even if you don’t have serious injuries to make sure you don’t have any internal injuries;Take photos of the scene, including your injuries and damage to your vehicle;Record statements from potential witnesses who saw the accident; andContact a personal injury attorney before speaking with the insurance company. If you end up filing a hit-and-run lawsuit, this information may help strengthen your claim. Do not take any blame for the accident or allow the insurance company to take a recorded statement. They might use this information to lower or completely deny your claim. Check Your Insurance Policy for Uninsured Motorist Coverage Make sure you check your auto policy to see if you have uninsured motorist coverage (UIM). This type of coverage typically covers damage you or your car sustains in a hit-and-run accident, especially if police cannot catch the suspect. This portion of your policy also covers medical treatment costs, lost wages, and other damages if you have injuries. Apply for Legal Funding Through Ally Lawsuit Loans Today We understand how difficult it is to recover after suffering injuries in a hit-and-run crash. Often, these injuries put you out of work, causing bills to pile up as you receive treatment. At Ally Lawsuit Loans, we provide pre-settlement funding to plaintiffs who cannot wait for their hit-and-run lawsuit to settle. Our risk-free loans provide cash to you for a variety of expenses while you recover, including rent, groceries, medical bills, legal fees, and more. Most importantly, you don’t have to pay back the loan unless you win your case. If you have any questions about our hit-and-run lawsuit loans or would like to apply, give us a call at 844-496-6446. We guarantee the lowest interest rates in the industry and provide cash to approved applicants within 24 hours.

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