What is Easy Legal Finance Inc.?
Easy Legal Finance is a settlement loan firm that focuses on litigation funding for Canadians with pending injury claims.
What does Easy Legal Finance Inc. do?
Maintaining a fast and stress-free application process for a lawsuit loan is the primary focus of the team at Easy Legal Finance. They provide clients with the financial support they need to pay their bills and give their lawyer the time they need to fight for a fair settlement.
Is Easy Legal Finance Inc. safe?
Easy Legal Finance leverages its founding partners of more than 20 years’ experience in the financial services industry to deliver fast and easy, unsecured, non-recourse settlement loans that directly address the needs of plaintiffs and their personal injury lawyers. They have been in business since 2012 and have served thousands of people.
Where does Easy Legal Finance operate?
The firm is registered to conduct business in Ontario, B.C., Alberta, and the Atlantic provinces.
Who uses Easy Legal Finance?
People that have been injured or cannot work, or need help paying their bills might consider a settlement loan from Easy Legal Finance. This would help you get back on your feet while your legal settlement comes through.
What's the rate on an Easy Legal Finance loan?
1) Lump Sum Loan: 24% annual interest rate, compounding semi-annually / $375 administration charge 2) Facility Loan: 24% annual interest rate, compounding semi-annually / $475 administration charge
How does Easy Legal Finance work?
An Easy Legal Finance representative will speak with your lawyer and review your case to help assess your application. Once approved, an Easy Legal Finance client service team will determine and customize a settlement loan that will best meet your needs.
How much can I borrow from Easy Legal Finance?
Easy Legal Finance does not share how much money max that you can borrow, but they do say you can borrow $1,600 minimum.
How do I pay back my Easy Legal Finance settlement loan?
No monthly or interim payments are necessary until a case settles and proceeds are received. You pay back your loan once you win in court and your lawyer receives the litigation proceeds, or a personal injury settlement.
How long does it take to get a loan?
Easy Legal Finance reviews your completed application as soon as possible. Typically, a decision is made within 24-48 hours upon receipt if claim is suitable, based on Easy Legal Finance's lending protocol.
Does Easy Legal Finance help people with bad credit?
Yes. Easy Legal Finance does help people with bad credit. Their approval process does not even take your credit history into account.
What are the eligibility requirements for an Easy Legal Finance Loan?
To be eligible for a loan you must have retained counsel for your claim.
How do I pay back my loan?
You pay back your loan once you win in court and your lawyer receives the litigation proceeds, or a personal injury settlement. You will receive the net proceeds from your case. Up until that point, Easy Legal Finance does not require monthly or interim payments. As a result, you will have use of your litigation loan to put toward expenses of your choosing, without any interest payments required. They take on 100% of the risk with respect to your Easy Legal Finance pre-settlement loan.
What if I lose my case?
Their settlement loans are non-recourse, which means if you lose your case, you owe Easy Legal Finance nothing.
Why will Easy Legal Finance fund only a portion of my claim?
They provide settlement financing to help you manage your short-term bills and help ease the immediate financial stress you may be facing, as a result of your injuries. They do not want to burden you with unnecessary advances to cover other costs that you may be able to finance through other sources.
Will Easy Legal Finance fund structured settlements?
Structured settlements were introduced by the Government of Canada, to invest settlement monies, on behalf of those made vulnerable by injuries, in something that is not likely to be lost prematurely.
These settlements are available, upon the consent of the casualty insurance company or by court order, and are purchased by the casualty insurance company on behalf of the claimant. They are only available at the time of settlement.
As they are non-assignable, non-commutable and non-transferable by law, Easy Legal Finance cannot loan against these investments.