If you are applying for a lawsuit loan, you may have trouble deciding which company to apply to. Imaginably, you are thinking of applying to the lawsuit loan companies that you see through television ads, transit ads, brochures, or maybe your attorney or a close friend recommended a lawsuit loan company to you. Perhaps you think that you should just apply to all lawsuit loan companies that you come across on the internet.
It is important to know that not all lawsuit loan companies are the same, and they will not all provide you with the same amount of funding or same amount of interest depending on where you are located. You may be asking yourself: Why should I apply to SMP Advance Funding, LLC? What makes SMP Advance Funding, LLC different than other companies?
The answers to these questions are simple; SMP provides lawsuit loans to their clients with ease and in the simplest way possible. SMP only charges an out of state one time only administrative fee of twenty-five dollars, and there are no administrative fees in the state of Illinois. Other companies may charge you an administrative fee and a processing fee (sometimes as high as three hundred dollars). SMP also has no prepayment penalty fees. If your case settles before the end of the year, you will only owe us money to the day you pay us. Our out of state interest is lower than most other lawsuit loan companies, and our interest rate in Illinois is 36%. SMP is a very fast paced lawsuit loan company.
Once your application comes in and is processed, your attorney will receive a fax asking for some information. Once that fax is answered, the underwriting department takes about four or five hours reviewing your case. Then you will receive a call from us, letting you know whether you are approved or denied for a lawsuit loan. This entire process from start to finish can take as little as one day depending on your attorney’s response.
If you are applying for a lawsuit loan, you most likely need financial relief as soon as possible, and with SMP, our goal is to provide our clients with fast relief. SMP understands that our clients have financial burdens, and that receiving a lawsuit loan in a timely manner can lift huge burdens off our clients’ shoulders, while they wait for their case to settle.