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Episode 29 Borrowing Against Your Claim

Episode 29 Borrowing Against Your Claim

Released Tuesday, 25th November 2014
Good episode? Give it some love!
Episode 29 Borrowing Against Your Claim

Episode 29 Borrowing Against Your Claim

Episode 29 Borrowing Against Your Claim

Episode 29 Borrowing Against Your Claim

Tuesday, 25th November 2014
Good episode? Give it some love!
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Companies out there want to lend you money against your claim. A lean means that they attach their loan to that personal injury case. I’ve seen it too many times and it's understandable victims run into financial problems as a result of an accident or being laid up as a result of malpractice. Sometimes you cannot work. Sometimes there are ongoing medical problems and you're financially strapped. Now you might think, ‘well they were good enough to offer me money so why not borrow it’? I'll tell you why not, because the interest on that is astronomical. But be warned, when your case is settled they're right there like buzzards ready to pick that settlement clean. You may think you're only borrowing a thousand or two thousand dollars. But six months, a year or two years later when your settlement comes through you may find that the one thousand dollar or two thousand dollar loan, has now become a ten or twelve thousand dollar payback!Believe it or not, in the state of Florida it is absolutely legal for these companies to do that. Do everything you can to avoid these companies that want to take advantage of you during a very difficult time. We can help you make those kind of decisions. If you have any questions call us. We can help. Call us now. Our toll free number is 800-332-1992 or email us at [email protected]
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