Get Info About Lawsuit Funding, Or
Legal Funding, With An Oasis Loan
This video is by David Ricks. He is a Lawyer in the state of California.
Here he is giving a good overview on key things to consider in order to get an ideal of how long it may take for your lawsuit case to settle. And for you to actually get money.
There are many kinds of cases. But the overwhelming majority involved some kind of injury. And that is what he is talking about here.
One of the biggest factors is how long it will take you to recover. It makes sense because you can’t start to put a dollar amount on it until you know everything involved. Like how many hospital visits, surgeries, doctor follow ups, time missed from work, etc.
And this is exactly why services like Oasis Financial Pre-Settlement Funding (or Pre Settlement Loans) exists. You’re hurt and, at the same time there is a lost of income, and you could be waiting months or years for the lawsuit to be resloved.
This page provides a simple Oasis Legal Finance Review. It will also answer some very common questions. There is a direct link to the official Oasis Financial website further below. You can summit a free, no obligation, lawsuit funding request to see what your options are.
WHAT IS A STRUCTURED SETTLEMENT
We wanted to first address this question because so many people associate this with lawsuit loans or legal funding. They also ask questions like what is an annuity? Use terms like cash advance, etc. A structured settlement is an arrangement that provides the plaintiff (the injured party who is suing), with regular payments. It may be monthly payments or annual payments. It can be for a set number of months, a set number of years, or for the rest of the person’s life.
But, even though everyone often use these terms interchangeably, a structured settlement is actually one of the possible outcomes from the lawsuit itself. Whoever you are suing settles… and instead of paying in one lump sum… you get set payments. If those payments are scheduled once per year then a lot of people will call them annuities. But that is really a term more associated with an investment, or annual insurance payout, etc.
So yes, it all feels the same when you are receiving the money. But officially they are different things, depending on the originating source of the money. And what we are really talking about with oasis is pre settlement funding, also called lawsuit funding, lawsuit loans, lawsuit advance, etc.
In other words you want to see about getting money BEFORE your lawsuit reaches it’s conclusion. A lot people will also call it a cash advance, which technically it is. But, you can also see how that can easily get confused with the payday loan industry, which this definitely is not.
ABOUT OASIS LEGAL FINANCE
As the name suggests, this company specializes in the lawsuit financing industry. Also called settlement funding, pre-settlement funding, lawsuit loans, etc. The funding is intended for people who are fairly confident they will be awarded money in their lawsuit, but are not in a position to wait for the legal process to conclude.
They have been In business since 2002 and are based in Chicago, IL. They say that they are the largest, and most recognized, in the lawsuit funding industry.
At the time this page was created the company holds an A rating with the Better Business Bureau. They are also a founding member of an association called the American Legal Finance Association (ALFA).
Many will think of Oasis as essentially the same, or a competitor, to other companies people may recognized like Peachtree, JG Wentworth, Annuity.org, etc. However those companies really specialize in the opposite scenario. Like the well known jingle in the JG Wentworth TV commercials says. “You have a structure payment, but you need cash now”. However, with Oasis you are looking to get the cash before you actually have the payments. And their decision will be based on the perceived strength of your lawsuit.
For Example: You are hit from behind by a drunk driver. Your car is totaled and your are hurt. You lost your property, you may have no means of transportation, you got new medical bills, and at the exact same time you are losing income because you can’t work. And all the other regular bills don’t stop coming.
In this scenario there is no question who is at fault. Therefore there is no question that you will win the lawsuit. The only question is how long will it take? Meanwhile you are still out of work. And the bills are still coming.
This is the ideal scenario to consider a pre settlement funding service.
The Oasis websites says they have “A simple, fast and efficient streamlined funding process”. They provide you with the cash you need. And, in exchange you give them the rights to a portion of your anticipated settlement.
How Does Oasis Legal Finance
Pre-Settlement Funding Work?
Here is a basic overview to see if your case qualifies for oasis loans. It is relatively simple, however there are minimum basic requirements that Oasis looks for when accepting applications for consumer legal funding.
* You must have already hired an attorney on a contingency-fee agreement.
This means your lawyer has agreed to work for you and agrees to get paid out of the proceeds of your case. If they don’t win an award for you, then they don’t get paid.
* It must be a personal injury case.
The company does not provide funding on cases where there is only property damages.
* The person you are suing has the ability to pay any claim awarded to you.
A business, corporation, or individual person who has sufficient insurance in place.
* Your attorney must also agree, and pay Oasis at the time the case is won.
Your lawyer must actually sign the legal funding agreement. This can be viewed as a huge benefit to you. It means that, as your lawyer, they should reviewed the agreement themselves. Then advise you on it. Then you can make the decision if it will be a benefit to you.
If you are considering any other company and they do not require your lawyer to review their agreement, or attempt to go around your lawyer, that should be a red flag. You have a lawyer. They should review, and advise you, on anything directly concerning your pending lawsuit.
You will know everything upfront. Then make the decision if you want to proceed.
Then your lawyer will review the final agreement before you decide to accept it.
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