Lawsuit Loans – Caveat Emptor!Written by Wayne C Walker
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2.How many cases have you funded (approximately)? CapTran for example, has handled over 10,000 funding requests and invested in several thousand of them. 3.Do you use your own money or are you a broker for others? Be wary of companies that are members of American Cash Flow Association as they almost certainly have no experience. Also be wary if a human never answer telephone, as that is surely an indication of level of service you are likely to get. 4.Who owns your company? 5.What is their business experience? 6.Do you have lawyers and paralegals on staff? 7.What Annual Percentage Rate (APR) you charge? (If you are quoted a monthly rates see next question.) You will probably be told that it depends on your case, which is true, but they can tell you what they charge for a typical case. If they tell you there are no typical cases hang up and go next company on your list. You should expect to pay simple interest rates as low as 2% per month for a case where strict liability standards apply; 4% to 6% for a typical auto case, and; 6% or higher for medical malpractice. ANY rate higher than 7% per month can be bettered with a little shopping. 8.Are your monthly fees compounded? Many companies advertise deceptively low rates but load up contract with many charges and monthly compounded rates. The most common practice is to charge an application fee and/or a closing fee that is sometimes 10% or more of amount you are advanced. If you contract for $10,000 you might be charged an application fee of $500 AND another fee equal to 10% or $1,000 – a total of $1,500 in fees. Now, here is best part – you will have to pay interest on $11,500 – interest on $1,500 you didn’t even get! In this example, if you were charged a 4.00% compounded monthly rate true annual cost is not 48% but 75%! In this scenario it would be cheaper to take a 6% simple interest rate from someone else. DO NOT AGREE TO PAY COMPOUNDED RATES! Almost every client we deal with thinks that their case will settle in a short while, but personal injury cases can drag on and on for many reasons and those compound fees can eat up all of your settlement if your case takes much longer than you anticipate. 9.Do you charge any fees or discounts of any kind? This is very important as some firms charge a low monthly rate but add on application fees, discounts and other hidden charges that will dramatically raise cost. 10.Will you send a sample contract to my attorney? Any reputable company will do this. 11.Can you give me an attorney with whom you have done business for a reference? Any reputable company will do this also. 12.Are you a member of Better Business Bureau? www.bbbonline.com CapTran is a member of BBB online and subject to mandatory dispute resolution. 13.If not, do you have a mandatory dispute resolution policy? What is your rescission policy? CapTran’s policy allows for rescission for up to 5 business days after funding. If you follow these tips and ask these questions, your chances of finding right funding company and best deal for you are excellent. Armed with a little preparation and age old admonition caveat emptor – let buyer beware, you can successfully obtain a pre-settlement advance that allows you to stay course and get a much better case settlement.
 This is a complicated topic but, generally speaking, if repayment of any part of principal or interest is contingent on an event that is “more than a mere colorable hazard”, transaction is not considered a loan and not subject to usury laws.
 American Cash Flow Association™ ( ACFA ), also known as American Cash Flow Institute ™ ( ACFI ), American Cash Flow Corporation™ ( ACFA ), National Mortgage Investor's Institute ( NMII ), Diversified Cash Flow Institute ™ ( DCFI ), among many other names – were all founded by Orlando lawyer Laurence J. Pino , who reprimanded by Florida Bar Association for misusing an investor’s funds.
On June 20, 2003 State of Tennessee issued a Cease and Desist Order in which State charged that American Cash Flow Corporation together with 12 related businesses and 12 named individuals “operated an illegal securities scheme that promised to make investors through business of brokering “cash flow transactions”. Pino was cited by Attorney General of Tennessee in 1996 for a similar scheme under name of Diversified Cash Flow Institute ™. At that time DCFI paid fees and costs to state of $10,284 for violating Tennessee Consumer Protection Act of 1977. Noted Columnist Jane Bryant Quinn also wrote disparagingly about Pino and his operations in The Washington Post 0n June 18, 1998 "Note Brokering: Harder Than it Sounds" "Pino, 46, a lawyer in Orlando, Fla., describes himself as an "exceptional business trainer." His seminar experience goes back to 1983 - not always in best of company. He first lectured for huckster Charles J. Givens Jr., who ran some dubious financial-planning organizations. In 1993 and again in 1996, juries decided that Givens had committed fraud. Later, Pino taught for Dave Del Dotto, an earlier popularizer of "cash flow," who settled an FTC action in 1996 with a $200,000 fine. (Del Dotto went bankrupt; FTC says he never paid). Pino himself was reprimanded by Florida Bar Association in 1988 for misusing an investor's funds." And in Newsweek reporter: Show Me The Money" "Larry Pino's pricey cash-flow workshops plug an easy way to get rich quick. It's a real business, all right -- but there isn't much easy or quick about it."
Wayne C Walker President of Capital Transaction Group Inc www.captran.com "CapTran" a leader in Litigation Financial Services
Wayne Walker is President of Capital Transaction Group Inc, a leading litigation financial services company.
Ten tips for choosing a personal injury solicitorWritten by Paul Johnson
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5.Do you take any deductions from my compensation? If you win your claim, your solicitors will be able to charge a ‘success fee’, and this is usually paid for by your opponent’s solicitor. However, any amount of success fee not paid by your opponent’s could come out of your compensation. You should choose a solicitor that guarantees you receive 100% compensation.
6.Do you specialise in my type of personal injury? The issues surrounding different types of injury vary considerably, and it is important to choose a solicitor who understands issues relating to your particular injury. They can then help to organise most relevant treatment and rehabilitation as well as ensure you receive maximum amount of compensation for your injury.
7.Do you have access to best rehabilitation and treatment services? An injury can dramatically alter a person’s life and in many cases no amount of compensation can restore type of lifestyle they had before accident. You should choose a personal injury solicitor that arranges rehabilitation and treatment with UK’s best medical centres to ensure you recover as quickly as possible.
8.Will you visit me at home or at hospital? If you would prefer to speak to a solicitor face-to-face about your claim, you should choose a solicitor that will visit you at home or in hospital. This doesn’t necessarily mean a local firm, as many of leading solicitors are happy to travel to different parts of country to discuss you injury.
9.Do you have any feedback from previous customers? Previous customers are best judge of a solicitor’s service. So why not ask your solicitor if they have any customer feedback that you can see.
10.Will my claim be dealt with professionally and compassionately? Being involved in an accident can cause a dramatic impact on lives of injured person and his/her friends and family. Whether you have suffered a minor injury or more serious one, you should choose a personal injury solicitor that understands these issues and deals with your claim sympathetically as well as efficiently.
Paul Johnson Customer Services Manager firstname.lastname@example.org
George Ide, Phillips is one of the UK’s leading personal injury solicitor firms organising compensation and rehabilitation for people injured in a non-fault car accident, industrial accident or other type of accident. Our service is completely cost-free and risk-free.