It is no surprise to anyone that lawsuit loans are expensive. They are more expensive that conventional bank loans because the lawsuit loan company is taking a considerable risk. Companies that make lawsuit loans ONLY get repaid if and when the recipient of the loan wins his or her lawsuit. That is why instead of interest, lawsuit loans come with a "risk premium".
The distinct advantage is what lawsuit loans do not have – monthly payments! Let’s say you are the plaintiff in a personal injury lawsuit, you’ve been out of work, and you get a bank loan to cover your living expenses. The problem with any type of conventional loan is that it includes a monthly payment. So now, in addition to having to pay the rent, car payment and utilities, and put groceries on the table, you have yet another monthly payment!
A lawsuit loan does NOT create yet another bill each month that has to be paid! That adds considerable value, and more than pays for the extra cost!
Send feedback » •
Permalink
Comment feed for this post
