Direct Lenders VS Brokers Of Legal Funding Industry
Brokers Of Lawsuit Funding & Cash Advance Services
While a broker on the other hand will simply take a plaintiffs information, gather documents, and then shop around various lenders to determine which lender is the best fit for you. Or are they really? The best "fit" for a broker is who will fund the case, what will the rate be, and lastly, how much will the broker get. These numbers vary from lender to lender and of course vary based on the case but you can count on one thing for sure, a broker will take a huge percentage through either an "admin" fee or else a "broker fee". Below is a list of facts for lawsuit funding brokers:
- Brokers get a commission/fee of what is advanced to the plaintiff
- Typically this "broker fee" is hidden in the contract
- Brokers are required to say if they are a broker when asked
- 5-20% of the money advanced is charged as an "admin fee" or "broker fee"
- No credit checks, no work history checks, and free to apply
- If the case is lost, the money advanced is no longer needed to be repaid
Take a look at www.usalawsuitloans.net who is a "broker" in the legal funding realm. You will notice that not only are they a broker, but if you were to apply and get approved, there will be a hidden fee in the contract.
Direct Lenders Of Lawsuit Funding & Cash Advance Services
A Direct lender is quite different, as they will often work with brokers and some may not deal with brokers at all. What this means is that if they do work with a broker, its as if they are letting a 3rd party get a piece of your settlement, along with having the plaintiff pay for the monthly rate which is being charged. If a plaintiff calls a lender directly, there will be no hidden fees or broker fees, giving the plaintiff the absolute BEST rate possible. Below are some known facts of direct lenders:
- May or May not work with other brokers
- Funds are DIRECT and typically have NO "fees" attached
- No "Broker fees" unless you applied with a broker
- Rates are up front (they are based soley on the case and vary by plaintiff)
- No credit, work checks, and free to apply
- If the case is lost, the money advanced is no longer needed to be repaid
- When asked if they are a broker will tell you that they are a FUNDER or Direct Lender
Take a look at elawsuitloans.com for instance, which is a direct lender of lawsuit cash advance services. Not only are they a Direct lender, but you will notice the rates end of being considerably low compared to other "brokers" in the industry.
A Direct Lender Is The Best Deal For Plaintiff Funding
These are just a couple examples and of course every company will vary be a broker or an actual lender. The bottom line is this; if you are a plaintiff needing a lawsuit cash advance, a direct lender will always be the better route because there will be no hidden fees or extra costs which can be as high as 15% of what is advanced. Know who you are dealing with, ask questions, and of course get the best of your cash advance for your lawsuit. So now you know the difference between a lawsuit funding broker and a lawsuit funding lender. For more information or to contact a Direct lender, visit www.elawsuitloans.com today and get the best rate for your lawsuit cash advance!
