Best Pre-settlement Funding Companies [2022-2023] List (2023)

People who have an ongoing lawsuit and are seeking compensation mostly try to get pre-settlement funding from the best companies that are genuine and trustworthy. Therefore, we have compiled a list of the best pre-settlement companies that can guide you in selecting the right one for your needs.

When a person is going on with a personal injury lawsuit, cash is something that is needed the most. But no one likes to apply with pre-settlement funding companies that are predatory and only focus on making profit for themselves.

Since we are ourselves a pre-settlement funding provider, we understand how other litigation financing companies are working in the industry. The Internet is full of options when you search for a pre-settlement loan company, but it can be confusing and sometimes daunting if you have no idea which company to choose.

With the right pre-settlement funding company, it can be as easy as filling out an online application, having your case reviewed by the funding company, and getting the money you need within hours or days of submitting your application.

It’s that simple! And with no up-front fees and no hidden interest rates, why wouldn’t you?

In this article, we are listing the companies that are reputed and have been working in the segment of providing plaintiffs quick and easy lawsuit loans.

Most Common Queries People Ask From Pre-settlement Funding Companies

What are pre-settlement loans?

Pre-settlement loans are cash advances that companies give to plaintiffs whose lawsuits are still going on. In exchange, the companies will want a portion of the money you get from your settlement.

If you’re dealing with an injury and lawsuit at the same time, cash scarcity is common. If you don’t have much saved, the best option available to you is pre-settlement funding. Since they are easy to get, even if you don’t have a good credit score, you can apply for pre-settlement funding.

Pre-settlement loans are also called by different names, such as lawsuit loans, settlement loans, legal funding, and lawsuit cash advances.

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Why is pre-settlement funding the best option?

After all, insurance companies are notorious for dragging their feet when it comes to paying out claims, so anything that helps you take care of things while awaiting settlement can be crucial—whether it’s covering medical bills or helping keep you afloat financially during an injury recovery period.

Because of this, most plaintiffs think that pre-settlement funding is the best choice because they get the money before they even get any settlement offers.

Further, pre-settlement loans are no-risk funding because plaintiffs get the funds they need and can repay them after winning the claim. And if you lose the case, you don’t have to pay anything because the lawsuit is the collateral for the pre-settlement loan.

How do I get pre-settlement funding quickly?

Most of the time, lenders don’t need a lot of paperwork to decide if they will give you an advance on your case. But if you get approved for a lawsuit loan, you must be ready with information about your case and lawsuit.

The more details you can supply about your situation, the better lenders will be able to assess how likely it is that they’ll receive their money back.

In addition to other questions about your case, they may ask what damages you’ve suffered and who caused those damages.

It’s important to give complete answers if you want to get funding quickly.

Do I need an attorney for pre-settlement funding?

Always read through any fine print or contract and have an attorney look over your paperwork to make sure that nothing has been misstated or left out; many borrowers don’t realize until it’s too late that their loan terms are not as clear as they seemed at first glance.

It may also hurt your case if there is incorrect information on your pre-settlement loan documents, like a phone number or email address that is not working.

So it’s always a good idea to double-check all details before closing an agreement with a lender.

How Do I Choose the Best Pre-Settlement Funding Company?

It can be difficult for clients to choose among pre-settlement funding companies, and even more so when so many options are available.

There are certainly some distinctions between them, including how each works and what types of cases they accept.

Before choosing a specific provider, it’s important to do some research on your own about what each option entails so that you can make an informed decision about which company would work best for your case.

The more information you have about each, such as interest rates and payment terms, will also allow you to weigh all factors in order to determine which is right for your case.

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Common Qualities of Best Lawsuit Funding Companies

They Promptly Respond To Plaintiff and Quickly Provide Lawsuit Loans

A lawsuit can be a costly affair, and every bill has a deadline, whether it’s utility bills, home rent, or legal fees. You want to work with a pre-settlement funding company that responds to your queries promptly and takes less time to approve your application. Top pre-settlement funding companies often take only a day or two to approve a case and can provide funding in the next few days; time can vary from company to company.

Maintains Transparency in Their Contract

No one likes to read legal jargon or fine print, but it’s always a good practice to have an attorney read the contract. You should work with a legal funding company that has easy-to-understand pre-settlement funding contracts.

Provides Non-recourse structured settlement loans

Most of the pre-settlement funding companies provide non-recourse structured settlement loans, and it’s always a good idea to work with a firm that offers no-risk loans. As a plaintiff, you don’t want to end up paying more than what you can expect from your future reward. Non-recourse structured settlement loans will never allow you to take more cash than what a lawsuit requires. Avoid companies that give a direct loan on your lawsuit in return for some other physical collateral.

7 Most Prominent Lawsuit Funding Companies

As we have discussed earlier about the qualities of a good lawsuit funding company, let’s now check out the most prominent companies that offer pre-settlement loans.

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ECO Pre-settlement Funding

ECO is a pre-settlement funding company that has a good reputation and offers settlement loans that are quick and easy to get. ECO Pre Settlement Funds have no risk at all because they have a non-recourse feature and provide lawsuit loans with low interest rate. This means you won’t have to pay back the cash advance until you win your case and get the settlement. ECO pre-settlement funds almost every kind of lawsuit, and we will always try to find a way to help you. So, each case is looked at on its own. Our legal finance company talks to your lawyer directly, and the application process is easy and quick.

America Lawsuit Loans

The company, America Lawsuit Loans, is based in Florida. They give their clients cash advances on the money they will get from a lawsuit settlement in the future. Like every other company on this list, you only have to pay back their lawsuit loans if you win your case. They are experts in many different kinds of cases, such as those involving product liability, personal injury, car accidents, and employment. They don’t check your credit, and whether you get a loan depends only on your case.

Tribeca Lawsuit Loans

Tribeca is one of the best companies for pre-settlement funding. Getting pre-settlement funding is quick and easy with them. They don’t check your credit, don’t look at your finances, and don’t require you to have a job. If you don’t win your case, you don’t have to pay back your Tribeca pre-settlement funding loan. Tribeca offers pre-settlement funding for almost any kind of lawsuit you can think of. Tribeca has helped people with a wide range of problems, from accidents on construction sites to lawsuits for wrongful death.

US Claims

Reviews of USClaims Funding say that this is one of the best settlement funding companies because they were one of the first and have been around for more than 20 years. Legal lending is still a young business, and USClaims has been there since the start. This company is friendly and has great customer service.

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Thrivest Link

Thrivest Link Legal Funding has reasonable terms for loans and rates that don’t add up. Because of how good they are at underwriting, they can fund larger amounts than many of their competitors. Google gives them a score of 4.6 out of 5.

Momentum Funding

Momentum Funding is based in the Florida city of Boca Raton. Momentum is licensed to offer funding in more than one state, and its “About Us” page is one of the clearest in the legal funding business. Both are important if you want people who visit your site and need lawsuit cash now to trust you. Legal Business Services, LLC, is made up of Momentum Funding, LawCash®, and Ardec Funding. It was formed in September 2019.

Mayfield Settlement Funding

Mayfield Settlement Funding offers between $500 and $250,000 in pre-settlement funding. Mayfield, unlike some other companies, does not ask for payments every month. Its application process is quick and easy, so you won’t have to wait too long to get a quote from Mayfield. They also offer cash advances on settlements while you wait for your settlement payment. This is in addition to pre-settlement funding.

Partner with best pre-settlement funding company

At ECO pre-settlement funding, we provide plaintiffs with easy access to quick cash advances against their pending lawsuit. You can use the funds to keep the lawsuit going without settling for lowball offers. Take the required funds from our company and settle all your pending bills, giving you peace of mind in the midst of a legal process.

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Call us at (800) 961-8924 or fill out the lawsuit loan application form, and our executives will contact you to understand your case type and assist you with the best funding option available for you.


What percentage does Oasis Financial charge? ›

Oasis Financial Pricing

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.

How long does it take to get money from Oasis Financial? ›

More often than not, you'll have your cash within 24 hours of being approved. Occasionally, however, there may be unanticipated circumstances in which it takes a little bit longer than usual to collect all of the information we need for approval.

What is the interest rate on pre-settlement loans? ›

Fixed rate pre-settlement loans - noncompounding

On average, our settlement loan interest rates range from 28% to 40% per year, but this varies depending on the case.

Which loan company is easiest to get? ›

The Easiest Personal Loans to Get Online
  1. MoneyMutual. 4.8 /5.0 Stars. START NOW » ...
  2. 4.7 /5.0 Stars. START NOW » ...
  3. BillsHappen® 4.7 /5.0 Stars. START NOW » ...
  4. 4.6 /5.0 Stars. START NOW » ...
  5. 4.6 /5.0 Stars. START NOW » ...
  6. 4.4 /5.0 Stars. ...
  7. 3.9 /5.0 Stars.

How to get a loan while waiting on a settlement? ›

How do pre-settlement loans work?
  1. Hire a Lawyer and File a Lawsuit. To secure a pre-settlement advance, you must first file a lawsuit. ...
  2. Apply for a Lawsuit Loan from a Reputable Funding Company. ...
  3. Review the Proposed Funding Agreement with Your Attorney. ...
  4. Decide Whether a Pre-Settlement Advance is Right for You.
Sep 27, 2022

How does Oasis work? ›

An oasis is an area made fertile by a source of freshwater in an otherwise dry and arid region. Oases (more than one oasis) are irrigated by natural springs or other underground water sources. They vary in size from a cluster of date palms around a well or a spring to a city and its irrigated cropland.

Can my lawyer deny me from getting a pre settlement loan? ›

Your attorney isn't required to approve any pre-settlement funding options. It's best to talk to them before starting the application process. Discuss with them your need for money to cover living expenses and other financial assistance until you can receive your settlement to help ensure your attorney's consent.

Can you borrow money from a class action lawsuit? ›

The answer is yes; you can borrow money from your lawsuit if your case is strong enough to win. Borrowing against a lawsuit can best be described as taking out a non-recourse cash advance against pending settlement proceeds or jury judgment.

Can you get more than one loan from Oasis Financial? ›

Can I apply for additional funding? Yes. If you have already received funding from Oasis and need more, you can apply for additional funding by completing a free application online or by phone. The additional funding process is as simple and easy as the first funding.

Can you get an advance on a pending settlement? ›

If you have a pending settlement from a personal injury lawsuit and are struggling while you wait for your check, you have options. As long as you have a pending lawsuit and an attorney, you are eligible for a lawsuit cash advance loan.

How long after my loan is approved do I receive the money? ›

As with banks, it usually takes one to seven days to receive funds after approval. Approval itself is typically offered on the same day you apply, as long as you fit all of the requirements.

How much will a 50 000 loan cost per month? ›

The monthly payment on a $50,000 loan ranges from $683 to $5,023, depending on the APR and how long the loan lasts. For example, if you take out a $50,000 loan for one year with an APR of 36%, your monthly payment will be $5,023.

Does settling loan hurt your credit? ›

When a loan is termed settled, it is viewed as a negative credit behaviour and the borrower's credit score drops by 75-100 points. The CIBIL holds this record for over 7 years.

How many loans can you get from settlement? ›

A pre-settlement loan, or more than one, can help reduce your financial stress and allow your lawyer the time they need to negotiate a strong settlement. There is no set limit on the number of pre-settlement loans you can receive.

What is the lowest credit score lenders will accept? ›

Conventional Loan Requirements

It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly payments.

Can you get a loan with a score of 550? ›

You may be able to get a personal loan with a 550 credit score, but you might not be approved for a large loan or one with a low annual percentage rate (APR). Depending on the situation, you may want to look for alternative forms of financing or work on improving your credit and before you apply.

What is the lowest credit score for a loan? ›

Generally, borrowers need a credit score of at least 610 to 640 to even qualify for a personal loan. To qualify for a lender's lowest interest rate, borrowers typically need a score of at least 690.

Do banks do settlement loans? ›

Traditional banks and credit bureaus do not give loans based on expected settlements. However, a settlement advance company will.

How long does it take for a bank to approve a settlement? ›

Formal approval will take anywhere from one day to one week. Settlement is typically six weeks after you've paid your deposit. However, you can negotiate a more suitable date with the vendor. A settlement period of less than four weeks is not recommended since some banks may not be able to meet the deadline.

What is Peachtree settlement funding? ›

Peachtree Settlement Funding LLC provides funding services. The Company purchases deferred payment obligations, structured legal settlements, annuity, lottery prize, sweepstakes awards, life insurance policies, tobacco transition, and sports contract payments, as well as provides personal injury claims.

What companies use oasis? ›

Who uses Oasis?
National Audubon Society, Inc.audubon.orgUnited States
SurePayroll, Inc.surepayroll.comUnited States
Metasys Technologiesmetasysinc.comUnited States
BLACK HILLS IP LLCblackhillsip.comUnited States
1 more row

Why do people settle near oasis? ›

Nomadic people of the desert take shelter nearby the oasis because they get food and water for survival. 6. It helps in the water preservation and conservation in the desert and arid region.

Do you have to pay for oasis? ›

OASIS is easy to use and is available 24 hours/day, 7 days/week. This service is available free of charge to ECFMG applicants.

Does early loan settlement affect credit score? ›

Yes, settling a debt instead of paying the full amount can affect your credit scores. When you settle an account, its balance is brought to zero, but your credit report will show the account was settled for less than the full amount.

Do settlements need to be approved? ›

ANSWER: Sorry, but yes, you do need to get court approval of the settlement unless the court previously gave you authority to settle litigation without subsequent court approval.

How do you not get denied for a loan? ›

How To Get A Loan When You Keep Getting Denied
  1. Improve Your Credit Score. One of the best ways to ensure your qualification for a personal loan is to improve your credit score. ...
  2. Ask Someone To Co-Sign. ...
  3. Compare Lenders. ...
  4. Prequalify For A Personal Loan.
Dec 20, 2021

What happens to leftover money from a class action lawsuit? ›

Sometimes, leftover money might be distributed among class members or donated as a cy-pres award. In simplest terms, the cy-pres doctrine means a court will order the funds to be redistributed to a charity or another organization that aligns with the issue at hand with the class action lawsuit.

Is it worth participating in a class action lawsuit? ›

Even in cases with minor damages, it may be worth your time, money, and resources to join a class action lawsuit. If you have minor injuries or other damages from a large company's negligence, these issues can affect many other people, too.

Is it hard to win a class action lawsuit? ›

It is extremely rare for class actions to actually proceed to trial – the vast majority are settled, while the rest may remain pending or tangled up in litigation for years. To win a class action lawsuit, therefore, you need to hire the best attorney and put pressure on the company to settle as quickly as possible.

How much can you borrow from Oasis? ›

About Oasis Financial

They claim to provide $500 – $100,000 pre-settlement advances within 24 hours of approval. Like most companies, Oasis Financial settlement loans come with a no-win / no-pay structure.

How many balance assist loans can you have? ›

Bank of America limits you to six Balance Assist loans every 12-month period. In addition, if you already have an open loan, you'll need to pay it off in full before you're eligible for another.

How many loans can you take out with one bank? ›

The good news for would-be borrowers who want to take out more than one personal loan at the same time is that there is no rule that says you can't do this. Theoretically, you could even take out multiple loans from the same lender.

Do banks do credit check before settlement? ›

Credit Report

Some lenders will run a Credit Check in the days before settlement and if you have missed paying any bills or made any late loan or credit card repayments between lodging your application and property settlement, this may cause a lender to withdraw an approval.

How long after settlement does the money come through? ›

At settlement, your lender will disburse funds for your home loan and you'll receive the keys to your home. Generally, settlement takes place around 6 weeks after contracts are exchanged.

How long does a pending settlement take? ›

On average, the typical settlement can take up to six weeks for processing after the case is settled. This is due to a number of factors and may vary from one case to another. This is just an average on how long it will take to get paid after your case is finished but varies depending on a number of factors.

How long does it take for the underwriter to make a decision? ›

Underwriting—the process by which mortgage lenders verify your assets, check your credit scores, and review your tax returns before they can approve a home loan—can take as little as two to three days. Typically, though, it takes over a week for a loan officer or lender to complete the process.

How do you know if your loan has been approved? ›

How do you know when your mortgage loan is approved? Typically, your loan officer will call or email you once your loan is approved. Sometimes, your loan processor will pass along the good news.

When you get a an approved loan What happens? ›

Once your loan is approved, you will get a commitment letter from the lender. This document outlines the loan terms and your mortgage agreement. Your monthly costs and the annual percentage rate on your loan will be available for review. Any conditions that must be met before closing will also be documented.

How much is a $20000 loan for 5 years? ›

A $20,000 loan at 5% for 60 months (5 years) will cost you a total of $22,645.48, whereas the same loan at 3% will cost you $21,562.43. That's a savings of $1,083.05.

How much is a 70k loan a month? ›

The monthly payment on a $70,000 loan ranges from $957 to $7,032, depending on the APR and how long the loan lasts. For example, if you take out a $70,000 loan for one year with an APR of 36%, your monthly payment will be $7,032.

How much is a 100k loan per month? ›

Monthly payments on a $100,000.00 mortgage by interest rate

At a 7.00% fixed interest rate, a 30-year $100,000.00 mortgage may cost you around $665.30 per month, while a 15-year mortgage has a monthly payment of around $898.83.

Is it better to settle or pay in full? ›

Paying a debt in full is better than settling a debt

You'll also save money. Settling the debt eliminates future interest and reduces the amount you'll repay to the lender. When you settle a debt, the creditor or debt collector will typically report the account as settled for less than what you owed.

Is it better to settle a debt or not pay at all? ›

It is always better to pay off your debt in full if possible. While settling an account won't damage your credit as much as not paying at all, a status of "settled" on your credit report is still considered negative.

Is it better to consolidate or settle debt? ›

At a very basic level, debt settlement is useful for reducing the total amount of debt owed, while debt consolidation is useful for reducing the total number of creditors you owe. It is possible to receive secondary benefits through either strategy, particularly debt consolidation.

How can I get a loan while waiting for a settlement? ›

How do pre-settlement loans work?
  1. Hire a Lawyer and File a Lawsuit. To secure a pre-settlement advance, you must first file a lawsuit. ...
  2. Apply for a Lawsuit Loan from a Reputable Funding Company. ...
  3. Review the Proposed Funding Agreement with Your Attorney. ...
  4. Decide Whether a Pre-Settlement Advance is Right for You.
Sep 27, 2022

How many points does a settlement affect credit score? ›

Debt settlement practices can knock down your credit score by 100 points or more, according to the National Foundation for Credit Counseling. And that black mark can linger for up to seven years. Much depends on circumstance.

How can I raise my credit score after a loan settlement? ›

Steps to Improve CIBIL Score After Settlement
  1. Build a Good Credit History. ...
  2. Convert Your Account Status from 'Settled' to 'Closed' ...
  3. Pay Your Dues Regularly. ...
  4. Clear Any Outstanding Dues. ...
  5. Get a Secured Card. ...
  6. Keep Available Credit Limit Above 50% ...
  7. Do not Apply for or Enquire About Loans. ...
  8. Continue to Utilize Credit Cards.

Can my lawyer deny me from getting a pre-settlement loan? ›

Your attorney isn't required to approve any pre-settlement funding options. It's best to talk to them before starting the application process. Discuss with them your need for money to cover living expenses and other financial assistance until you can receive your settlement to help ensure your attorney's consent.

How do I know if a loan company is legitimate? ›

How to spot a legitimate loan company
  1. Check for contact information. A lender's phone number, email address and physical address should be readily available on the website, even if it's an online-only lender.
  2. Investigate online reviews. ...
  3. Make sure it's registered.
Aug 9, 2022

Do banks Do settlement loans? ›

Traditional banks and credit bureaus do not give loans based on expected settlements. However, a settlement advance company will.

Can I switch lenders before settlement? ›

It is possible that you don't want to cancel the sale, but switch lenders before the property is settled. Perhaps you found a better deal or are simply unhappy with the services of the lender you chose. In this situation, you would need approval from the new lender and may have to pay penalties to the old lender.

What should I not tell a loan officer? ›

10 things NOT to say to your mortgage lender
  • 1) Anything Untruthful. ...
  • 2) What's the most I can borrow? ...
  • 3) I forgot to pay that bill again. ...
  • 4) Check out my new credit cards! ...
  • 5) Which credit card ISN'T maxed out? ...
  • 6) Changing jobs annually is my specialty. ...
  • 7) This salary job isn't for me, I'm going to commission-based.
Oct 19, 2017

What is the website to check if a company is legit? ›

You can also look up the company to review consumer complaints on the Better Business Bureau by searching for where the company is located or doing business. But don't assume the company is legitimate just because it has few complaints.

Does Oasis take money directly from settlement? ›

Pricing for funding is determined by the specifics of your case. Apply for free and get full pricing details upon approval. Fees are competitive, and you pay nothing out of pocket — payment comes out of the settlement. You owe nothing if you don't win your case.

How do you ask a bank for a settlement? ›

1. Evaluate your financial situation 2. Contact your bank or lender 3. Negotiate a settlement agreement 4. Make the payment and close the loan
  1. Evaluate your financial situation.
  2. Contact your bank or lender.
  3. Negotiate a settlement agreement.
  4. Make the payment and close the loan.
May 2, 2022


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