A Guide to Uplift Legal Funding
Uplift Legal Funding is a pre-settlement cash advance company providing cash advances to plaintiffs involved in personal injury litigation. They advertise themselves as a no-risk way to obtain cash using the guaranteed future settlement of your personal injury lawsuit as collateral. Uplift Legal Funding also specializes in pre-settlement cash advances for medical expenses, accident expenses, attorney fees, lawsuits against banks and lenders, discrimination and harassment claims, manufacturing and product liability, premises liability, C21 civil rights, real estate and landlord tenants, wrongful death and survival actions, and hospital bills and uninsured medical expenses.
Uplift Legal Funding is owned by a company called Settlement Funding LLC. Settlement Funding LLC has business addresses in Kennesaw Georgia, Davidson North Carolina, and Dallas Texas. Some of the linked addresses have also been used by other legal funding companies.
In a 2007 Chicago Tribune article, it is reported that Uplift Legal Funding was founded by former sports agent Michal Babich. It is said that Uplift Legal Funding relies on "a network of about 90 structured settlement funding companies and life insurance providers" to supply the funds needed for their cash advances .
Similar to most pre-settlement cash advance companies, applicants must provide Uplift Legal Funding with information concerning their accident, including medical records, police reports and other information. If Uplift Legal Funding determines that the application is approved under their "underwriting guidelines," a plaintiff brings his or her case to Uplift Legal Funding, and the plaintiff is provided an advance in the amount agreed upon. Typically, Uplift Legal Funding will wire the funds to the plaintiff’s attorney. The plaintiff’s attorney is then responsible for holding the funds in trust until the settlement is finalized.
The plaintiff’s attorney is required to sign an agreement stating that the funds will not be commingled with any other funds. Uplift Legal Funding will charge interest on the funds they advance, which appears to be billed at the time of the advance. Uplift Legal Funding may require upfront payments of the interest owed.
Uplift Legal Funding primarily works with personal injury cases. Some of the most common types of cases include car accidents, motorcycle accidents, truck accidents, distracted driver accidents, bus accidents, falls, premises liability, product liability and pedestrian accidents.
How Uplift Legal Funding Operates
The path to legal funding through Uplift Legal Funding is relatively simple. Uplift Legal Funding uses technology to submit applications online, cutting the wait down considerably. One of the most redeeming factors is the ability to preview approval chances before you apply. The company claims high rates of positive responses, which means you don’t want to waste time applying when you have little chance of receiving funding.
It only takes a few minutes to apply for funding, either through the Uplift Legal Funding website or mobile app. You’ll need a lawyer who is willing to finalize the agreement for you, and because Uplift Legal Funding services will pay your lawyer directly, a contingency fee couldn’t apply anyway.
Next, Uplift Legal Funding will review the case and get in touch with the attorney to review the details. The review includes a full appraisal of the case’s potential. If an opportunity to move forward arises, the deal takes a few hours to finalize, and you’ll receive the funds. Uplift Legal Funding doesn’t play with your time. When eligible for funding, the company gets you your money as soon as possible, and there is no messing around with payment options. You’ll get your funds in a zip, for better words.
Once you have legal funding in hand, they can be used at your discretion. A common misconception of legal funding is that the use of the funds must go toward your case alone. This isn’t accurate. So, whether you use the funds to pay a bill, or to get that drink you’ve waited for two weeks, the choice is yours to make.
Paying back Uplift Legal Funding with your settlement or verdict is also straightforward – or at least it should be. The agreement terms of Uplift Legal Funding state that they legally get paid back when you do win your case. A weekly or monthly payment plan isn’t part of the deal.
Uplift Legal Funding Customer Reviews: What Do They Say?
Numerous sources document potential customer opinions regarding Uplift Legal Funding. As an example, the Better Business Bureau (BBB) rates the company as a B-, shows it as having twelve reviews and three complaints. Among the reviews are such comments as, "This company helped me out so much. I was connected with a great network of qualified, knowledgeable attorneys who walked us through our situation, explained everything in detail and did the rest for me." However, the positive comments are not universal. The BBB lists a customer who reportedly lost her purse in connection with the Uplift process who did not make population her opinions known. Uplift has numerous complaints from customers. The entity.com site reports four complaints related to Uplift and three of these concern customer service issues. Other sites show five one-star ratings from customers. Again, three of these relate to poor customer service. Only one comments on slow funding, but it does so in some detail, noting that Uplift can take as long as 45 days to process a request. One more site, complaintsboard.com, shows a mix of one and five-star ratings. The overall picture is one of a customer base generally satisfied with Uplift Legal Funding’s service relative to other pre-settlement funding companies. Customer service issues are often present, but these seem to occur principally within a small number of potential customers who are not experiencing the comfort level of the typical customer.
The Advantages and Disadvantages of Uplift Legal Funding
As with every company, there are a few pros and cons to consider when deciding whether or not to work with Uplift Legal Funding. Below are some of these pros and cons as contributed by real user reviews and experienced opinions.
Pros
- Rebates: They offer a full rebate on your fee if the case is lost.
- Transparency: Their website is very well designed and customer friendly, making it easy for you to review all the information you need to make your decision.
- No credit checks: They do not check your credit score , which can be a relief for people with less-than-stellar credit.
- Friendly representatives: Customers rave about their experience with thorough, compassionate and friendly representatives.
- Ethical Company: Steve and the team have worked hard to develop an ethical company that does not engage in any predatory lending practices.
- Generous funding amount: They offer individuals $500-$250,000.
Cons
– Long wait time to make a claim: A customer must wait three months after signing the contract for the claim to be paid out.
A Comparison between Uplift Legal Funding and Other Legal Funding Companies
When compared to other leading legal funding companies like Oasis Funding, LAWGIVE Legal Funding, Peregrine Legal Funding, Victory Circle Funding and others, Uplift Legal Funding shows themselves as a true leader in the industry. Oasis Funding has competitive rates when compared to Uplift. However, it’s easy to get a bit carried away with the fees. For example, on an $18,000 personal injury loan, the up front fees are $7,500, and the cost goes up by $125 per month. LAWGIVE Legal Funding is similar to Oasis, with slightly lower fees. The overall end price is about the same. Their services are somewhat similar to Uplift Legal Funding. Peregrine Legal Funding is not very well regarded online. They have not received many reviews and their reputation is a bit shaky. Victory Circle Funding is rated lower than Uplift Legal Funding. They don’t have nearly as many reviews and the fees are higher than Oaisis or LAWGIVE. Overall, the top legal funding companies like Oasis, LAWGIVE, Peregrine, Victory, all have similar fees. Uplift Legal Funding does as well but their reviews seem to be more positive than most of the others.
Final Thoughts on Uplift Legal Funding
If you’re considering applying for a pre-settlement loan, you may be wondering whether Uplift is the company for you. It is certainly one of the most prominent legal funding companies in the industry today. Their consumer ratings on TrustPilot are mostly positive, making them one of the top-rated pre-settlement loan providers.
They offer a fairly wide array of products, and may work with a variety of qualified attorneys, depending on your specific case. But as the market continues to grow, so do the services available. Are you better suited to working with a legal funding broker that would offer you a wider range of options? Alternatively, would you prefer to go directly to the source? There is much to be said for working with a company that offers you the fastest settlement advancement.
Another point worth mentioning is that Uplift’s loan rates can vary depending on the state . Comparing these rates with other litigation funding companies might show you which funding provider is offering you the best deal. Other companies are likely able to help you negotiate a lower rate on a loan depending on your situation.
Finally, it is important to keep in mind that if you do not pay off your loan following settlement, the company will have the ability to pursue the funds from the defendant directly. This could lead to added complication, should you win your case. Pre-settlement loans should be considered a last resort option.
All in all, this information should point you in the right direction. Like all forms of cash-strapped legal clients, plaintiffs should have the same goal of paying as little as they can for legal financing. It is important to look at your individual situation and decide what will work best for you going forward.