Picking the right lawsuit loan company can be a stressful decision. It’s important to ask the right questions, see what other customers say about the company, and look into its practices. In this review, we will provide you with our take on Fair Rate Funding.
With a lawsuit loan, you can handle current costs while waiting for the often arduous, lengthy lawsuit process to conclude. But you want to make sure you select a legitimate lawsuit lender. Use the data here to help you and your family make the right choice for your situation.
Fair Rate Funding’s Online Reputation
One important aspect of finding a legit lender is assessing the company’s reputation among former clients. While online reviews aren’t the end-all-be-all and can sometimes be misleading, they still provide a base for deciding whether or not a company is right for you.
Fair Rate Funding doesn’t have a lot of online reviews, but the few that are there speak well of the company. In 22 Google Reviews, customers consistently praise the company for:
- Favorable interest rates
- Friendly and supportive staff
- Willingness to work with clients through injury valuation
- Personalized customer service
Industry Organization Membership
Another item we often look for when appraising the quality of a lawsuit lender is the company’s membership in industry watchdog and ethical standard organizations. Here, Fair Rate Funding struggles a bit. We would like to see evidence that the company is a member of associations like the Alliance for Responsible Consumer Legal Funding (ARC).
While not a requirement, membership in industry organizations helps solidify legitimacy. It show that a company abides by the most up to date ethical standards and best practices. Typically, you would want to go with a lawsuit loan provider who has some association with an industry watchdog group.
Availability of Funds at Fair Rate Funding
One positive aspect of Fair Rate Funding is how many cases they accept. To date, the company has funded more than $5.4 million to over 2,000 clients. Additionally, their cases are varied. You might qualify for a lawsuit cash advance if you have a lawsuit in the following areas (or others!):
- Personal injury claims
- Civil rights abuses
- Wrongful death lawsuits
- Nursing home abuse and neglect
- Medical malpractice
- Product liability claims
The minimum amount of funds provided is $1,000. There is no maximum. This would worry us, as it could mean you take on so much as a loan that you are left with nothing when you repay it out of your compensation package. However, Fair Rate Funding tempers this by promising due diligence when determining loan amounts.
How Funding Works at Fair Rate
Just like us, Fair Rate Funding provides non-recourse lawsuit loans. This means you don’t have to pay anything back if you lose your case. It also means the company is limited in how they can pursue repayment. You pay back the debt out of your compensation package rather than out of your bank account, and you don’t have to worry about the company seizing collateral.
Once your attorney gets a check for the settlement or jury award amount from the at-fault party, they will write a repayment check out of that package to Fair Rate Funding.
Find the Best Lawsuit Loan Company for You
Fair Rate Funding is a decent choice for a lawsuit cash advance, but it does leave something to be desired. At Tribeca Lawsuit Loans, we are a member of industry watchdog ARC, have tons of online reviews from happy customers, and are dedicated to providing ethical, safe, legitimate lawsuit loans.
Click the Apply Now button at the top of the page to submit an application for free. In as little as 24 hours after approval, we can have up to $1 million in your bank account for you to use as you need.