Oasis Legal Finance offers nonrecourse consumer legal funding for plaintiffs and their attorneys involved in personal injury lawsuits, explains its official website. If the plaintiff wins, Oasis receives a prearranged portion of the settlement as payment, but if the plaintiff loses, Oasis does not receive a payment.Continue Reading
Oasis settlement funding is not a loan, because loans need to be repaid regardless of the outcome of the court case. Rather, it is a purchase of part of the settlement amount in the event of a successful outcome, according to Oasis Legal Finance. In the few states that do not yet allow settlement funding, Oasis offers loans. To qualify for Oasis funding, plaintiffs must have been personally injured by defendants who have the resources or insurance to pay settlement damages. The plaintiff must have an attorney retained on a contingency fee basis rather than an hourly fee. The attorney must peruse the settlement funding agreement, discuss it with Oasis and sign the document.
Plaintiffs are able to apply for Oasis settlement funding without cost on the Oasis website. They must provide their contact information, the contact information of their attorney, the name of the state where the case is being tried, the date of the accident and an estimate of how much funding they require, notes Oasis Legal Finance. Oasis reviews the case information, contacts the attorney, sometimes asks to see some of the case documents and usually gives the plaintiff an answer to the funding query within a day.Learn more about Credit & Lending