- James Miller
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There are certain sometimes subtle differences that distinguish a good lawsuit funding company from a bad one.
These range from the time it takes to get a lawsuit loan to the terms of the loan itself to how and when you’ll payback.
You should use these criteria as a sort of litmus test: If a lawsuit funding company fails to offer any of these services or options, they fail the test, and you should look for another one.
Delta Lawsuit Loans is proud to say that we meet every single one of these measurements.
We think we’re a good lawsuit funding company, and we hope you’ll agree.
1. Quick Turnaround
The reason most plaintiffs want a lawsuit loan is to avoid the very long wait for settlement.
Sometimes, it can even take months from the time a plaintiff agrees to settle to the time he or she sees any money.
If this is the whole reason for pursuing a settlement loan, how could you go with a settlement funder that doesn’t offer a quick turnaround?
It shouldn’t take a lender longer than a day in most cases to verify your information and come to a decision on whether to fund.
Don’t play along when a settlement lender tries to lead you on. Make them get to the point and put their money where their mouth is.
At Delta Lawsuit Loans, we’ll get you your cash fast, often within 24 hours from the time we get the necessary documents from your lawyer.
2. Credit- and Employment-Blind Funding
Is your credit poor?
Are you unemployed?
Those shouldn’t be reasons to avoid pursuing lawsuit loans because any good settlement lender won’t look at those things when they make their decision of whether to offer a pre-settlement loan.
There is no reason for them to need this information: A good settlement lender makes their decision based on the merits of your case and not your financial history and situation.
That’s because their decision should depend on the likelihood that you’ll win your case and not on your ability to pay out of your own pocket if you lose.
Which brings us to the next points:
3. Repayment Directly Out of the Settlement
Lawsuit loans are supposed to be non-recourse, which means a lawsuit lender should have no way to collect the money they’re owed other than directly out of the settlement from your lawyer.
It shouldn’t even be possible for a settlement loan funder to collect money in any way other than straight from your lawyer.
Delta Lawsuit Loans can only be paid out of the settlement itself.
We don’t charge you at any point before or after the settlement; we don’t get paid until you settle.
4. No Payment if You Lose
The whole point of a settlement loan is that you don’t pay it back if you lose.
But you have to be careful and make sure that your lawsuit lender actually lives up to this promise.
Some lenders will sneak in provisions about fees that you’ll pay even if you lose.
Delta Lawsuit Loans will never do that. And this brings us to the next thing:
Does your lawsuit loan funder get shifty when you ask simple questions about fees? Do they give you conflicting answers or avoid answering the questions directly?
That could be a problem. A settlement lender should be confident enough to stand behind their offer and be upfront about any fees you’ll pay, as well as do the following:
- They should also match on their written contracts what they’ve already agreed to do verbally and should encourage you to consult with your lawyer about the contract, and your lawyer should be essential to the process.
- They should show you a copy of your contract on request.
- They should help you out with any concerns you have along the way. If they tell you you’ll pay simple fees, you should pay simple fees.
- If they say you’ll pay compounding fees, you should pay compounding fees. And if they say you don’t pay if you lose, then you shouldn’t pay if you lose.
All of this seems self-explanatory, but unfortunately, some lawsuit lenders take advantage of their clients, giving the whole industry a bad name.
We will never do that. We won’t take advantage of you, and we won’t take you for granted.
We’ll answer all your questions as clearly as we can, and we’ll always be upfront and honest.
We’ll make sure your lawyer is deeply involved in every step of the process to make sure you’re protected. And we’ll never make you pay anything if you lose.
6. A Price-Match Guarantee
If a settlement funder doesn’t offer a price-match guarantee, what they’re saying is, We don’t really care about your business.
They’re implying that because they’re saying they won’t do anything to keep your business.
If you get a better offer somewhere else, they say, take it. We won’t do better.
Well, at Delta Lawsuit Loans, we’re unwilling to give up your business that easily.
We care about our clients, you included.
We care enough that if we’re charging more for lawsuit loan fees than another settlement funder is, we’ll match it––or beat it! That’s right: We will lower our fees to keep your business.
How does it work? Once you have a written offer from another settlement loan funder that’s lower than what you have from Delta Lawsuit Loans, just give us a call. Tell us about the offer, and we guarantee we’ll match it or beat it.
Let’s say we offer you $5,000 in funding with lawsuit loan fees of 3 percent compounded monthly.
If another settlement funder offers you 2.5 percent compounded monthly, we’ll match it, and we might even beat it.
7. No Spending Restrictions––A.K.A. It’s Your Money!
How you spend your money should be your decision, and no one else’s.
And a settlement loan should be just that: your money.
If a settlement lender puts restrictions on how you can spend the money and dictates a list of specific ways you can use their lawsuit loan, it’s not your money, and they’re not a good lawsuit funding company.
You shouldn’t have to deal with someone else telling you how to spend your money. No one knows better than you how to spend your money.
That’s why Delta Lawsuit Loans will never tell you how to spend your money. We don’t patronize our clients, and we believe they know better than we do how to best spend their own money.
So while we’ll certainly advertise on our websites the many reasons why one might want a lawsuit loan––to pay for medical bills, rent, the bills––the ways you can spend the money are certainly not limited to these or to any other ones we recommend.
Any good lawsuit loan company, Delta Lawsuit Loans included, will make sure that it’s truly your money when you get a lawsuit loan, which means you can spend it however you want.
Over his career, James has successfully built and managed several of his own businesses, sold his company, managed hundreds of employees, operated across the United States and Europe, and completed financings for his own companies in excess of $400 million dollars.
James investment and operating experience includes co-founding one of the largest pre settlement companies, a special purpose fund that advanced money to litigants against pending legal claims. He had over $300 million across thousands of case investments, collections, and receivables, a staff of almost 50 employees, operating in 40 states. James built, assembled, and motivated a team of who became the leaders in their field of pre settlement funding. The company offered multiple solutions include attorney funding, plaintiff advances, pre settlement and post-settlement funding, and surgical and medical financing, which enable his clients to receive funds for their case, while the await their settlement.
After selling his business, James now operates a consulting firm which specializes in the lawsuit loan industry. He advises companies how to structure their financing, run their operations, deal with legal issues and collecting on their lawsuit loans. In addition to his consulting firm, James teaches business ethics classes and a local university.
James enjoys teaching, reading, writing and spending time with his wife and two boys.