Quick & Easy Litigation Loans that make Sense
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General Questions
1What kind of loans does Finance Bound offer?
Finance Bound specializes in loans that are based on personal injury legal cases that will result in a settlement. Known as law suit loans or litigation loans, these loans are unlike traditional loans in that your personal financial criteria are not factored into the approval process. Nor are credit scores or employment records. A lawsuit loan is approved based upon the merit of your legal case.
Law Suit Loans are available for legal cases pertaining to:
• Motor Vehicle Accidents
• Slip & Fall Injuries
• Insurance Claims
Law Suit Loans are available for legal cases pertaining to:
• Motor Vehicle Accidents
• Slip & Fall Injuries
• Insurance Claims
2How do I qualify for a settlement loan?
We do not look at personal finances, credit scores or employment history to qualify a lawsuit loan.
Instead, we consult with your lawyer to determine the status of your legal case and the anticipated value of your future settlement. Based upon the advice of your legal counsel, we qualify you for a loan and advance funds.
Instead, we consult with your lawyer to determine the status of your legal case and the anticipated value of your future settlement. Based upon the advice of your legal counsel, we qualify you for a loan and advance funds.
3How much money can I receive?
The amount of money that we can advance will depend on several factors:
- Your current needs
- Your future needs
- The value of your future settlement
The most important factor will be to assess your current and future needs so that you have access to funds whenever you need them. Once we understand how much you require, we will work directly with your lawyer to value your loan in proportion to your anticipated settlement and your future monetary needs.
An additional benefit is that regardless of how much you are approved for, you can take as little or as much as you need at the moment and the draw on any remaining funds allocated within your approved amount at a later date. This can help tremendously with cash flow.
- Your current needs
- Your future needs
- The value of your future settlement
The most important factor will be to assess your current and future needs so that you have access to funds whenever you need them. Once we understand how much you require, we will work directly with your lawyer to value your loan in proportion to your anticipated settlement and your future monetary needs.
An additional benefit is that regardless of how much you are approved for, you can take as little or as much as you need at the moment and the draw on any remaining funds allocated within your approved amount at a later date. This can help tremendously with cash flow.
4Does the loan require a credit check?
No. We do not look at your credit nor do we look at your employment status.
5How quickly will I receive the money?
Funds are typically advanced fairly quickly (in as little as 24-48 hours).
6Will I incur payments?
No. Unlike a traditional loan, there are no monthly payments with a litigation loan. The loan and interest is only due when your lawyer settles your case.
7Can I pay off the loan early?
Yes. The loan is open and you are always free to pay back the loan whenever you like.
8What are your rates?
Our rates are competitive.
The actual rate you pay will depend upon how much you borrow and how long it will take for your case to settle. In addition, interest is compounded semi-annually (rather than monthly). Overall, our rates fall between 20-24%.
The actual rate you pay will depend upon how much you borrow and how long it will take for your case to settle. In addition, interest is compounded semi-annually (rather than monthly). Overall, our rates fall between 20-24%.
9What about fees?
Our fee structure is transparent. There is a $250 setup fee and this will be disclosed on your paperwork, along with your rate of interest. Aside from this, there are no additional fees or hidden costs to worry about.
10Can my lawyer handle this for me?
Yes. We will have to liaise directly with your lawyer to qualify your loan. Thereafter, we can continue to work with your lawyer to arrange the paperwork and funding.