‘Should I Take Out a Loan With a Settlement Funding Company While My Injury Case is Pending?’
NO! Never. These lenders offer loans to those who have pending personal injury claims open, in the hopes of hooking injury victims who are financially strapped and will agree to unreasonable loan repayments terms.
I always counsel my injury clients not to take out such loans, unless it is absolutely necessary. These lending companies charge unreasonably high interest rates and fees that you will be paying back for years. Therefore, you need to think long and hard before taking out this type of loan.
If you must take out such a loan, I have heard from colleagues that PeachTree is a sensible alternative, but only if you are absolutely desperate for the money.