About Company
Oasis Financial, a recognized national brand specializing in pre-settlement funding, has become a reliable financial partner for individuals navigating the complexities of legal proceedings. Established in 2003 by attorneys who identified a pressing need among their clients facing mounting medical bills and living expenses while awaiting case settlements, Oasis Financial was founded to offer a solution. Over the years, it has evolved into a prominent player in the legal funding sector, serving as a lifeline for more than 250,000 individuals and families during challenging times.
The company, now operating under the name Libra Solutions as of 2022, maintains its commitment to responsible consumer lending. Oasis Financial remains dedicated to providing swift and flexible financial assistance to plaintiffs involved in lawsuits, helping them address immediate financial obligations such as medical bills and everyday expenses.
Key Features
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No-Risk Funding. Oasis Financial offers a no-risk financial solution, providing plaintiffs with access to funds before their legal cases settle. In the event of case loss, there is no obligation to repay the funded amount, ensuring clients bear no out-of-pocket costs.
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Quick Application Process. Applicants can initiate the process through a simple online form or toll-free call, taking only three minutes to complete. Oasis aims for a prompt approval process, often within 24 hours, with no consideration of the applicant's credit score.
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Flexible Funding Options. Once approved, clients can receive funds ranging from $500 to $100,000 to cover immediate expenses or costs resulting from injuries. Oasis accommodates various delivery options, including electronic bank transfers, Western Union, or mailed checks.
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Network of Attorneys. Oasis collaborates with a network of attorneys and facilitates communication between clients and legal representatives to streamline the funding application process.
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Transparent and Fair Terms. Oasis ensures transparency in its financial dealings, openly communicating terms and conditions to clients. The company takes pride in its responsible approach to lending, aligning with state laws and regulations.
Pros and Cons
Pros
Cons
Reliability
Oasis Financial's credentials further affirm its standing as a dependable financial partner. It stands amoung A+ Rated by Better Business Bureau (BBB) funding companies, a testament to its adherence to high standards of business practices and customer satisfaction. Additionally, its 4.6-star rating on Trustpilot reflects positive feedback from individuals and families who have benefited from its services during times of legal and financial uncertainty.
As a founding partner of the Alliance for Responsible Consumer Lending (ARC) and a member of Americans for Patient Access (APA), Oasis demonstrates a commitment to ethical and responsible lending practices within the legal funding industry.
These credentials reinforce the reliability of Oasis Financial as a reputable and trustworthy financial partner for individuals navigating the complexities of pre-settlement funding.
How to Apply for an Oasis Financial Loan?
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Gather Necessary Information. Before initiating the application process, ensure you have essential information on hand. This includes details about your legal case and your attorney's contact information.
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Access the Online Form. Start by visiting the official Oasis Financial website. Once there, locate the online application form. This form is free, and there is no obligation to proceed with the funding if you decide not to.
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Complete the Application. Fill out the simple, no-obligation form with your contact information and the relevant details about your legal case. Clearly and accurately provide the information required to expedite the application process.
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Notify Your Attorney. It's important to inform your attorney that you are applying for funding from Oasis Financial. The company typically contacts your attorney to verify case details, so your attorney should expect communication from Oasis.
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Await Application Approval. Oasis Financial aims for a quick turnaround in the loan approval process. In many cases, applicants receive approval within 24 hours. Notably, Oasis does not consider your credit score during the approval process.
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Review and Sign the Agreement. Upon approval, you will receive the contract outlining the terms and conditions of the funding. Take the time to thoroughly review the agreement and address any questions you may have. Your attorney will also receive an acknowledgment to sign.
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Follow Up. After submitting the signed contract and receiving acknowledgment from your attorney, Oasis will process the request. You will be provided with a timeline and instructions for follow-up in case confirmation is not received within the specified timeframe.
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Receive Funds. Once the processing is complete, Oasis Financial will disburse the funds. The company offers various options for fund delivery, including electronic bank transfers, Western Union, or mailed checks.
Conditions and Requirements
Conditions
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No-Risk Repayment. Borrowers are not obligated to repay the funded amount if their legal case is lost. Oasis Legal Finance, LLC operates on a no-risk model, ensuring that individuals do not face out-of-pocket costs in the event of an unfavorable case outcome.
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Quick Access to Funds. Upon approval, Oasis Financial aims to provide swift access to funds, often within 24 hours. This allows borrowers to address immediate financial needs, such as medical bills and everyday expenses, without the lengthy delays associated with legal case settlements.
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Transparent Terms and Conditions. Oasis Financial is committed to transparency in its lending practices. Terms and conditions, including fees and repayment structures, are communicated to borrowers. This transparency fosters trust and understanding throughout the lending process.
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Flexible Funding Options. Borrowers have the flexibility to choose the amount of funding they require, ranging from $500 to $100,000. This ensures that individuals can access an appropriate level of financial support tailored to their specific needs.
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Trusted Reputation. Oasis Financial's trusted reputation is underscored by its BBB A+ Rating and positive reviews on Trustpilot. With a track record of assisting over 250,000 individuals and families during challenging legal situations, the company has established itself as a reliable financial partner.
Requirements
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Completed Application Form. Prospective borrowers need to fill out the online application form available on the Oasis Financial website. This form captures essential information about the borrower and the details of their legal case.
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Case Information and Attorney Details. Borrowers should be prepared to provide comprehensive information about their legal case, including the nature of the case and their attorney's contact details. It is crucial to notify the attorney that a funding application will be submitted to facilitate the verification process.
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Thorough Review of Terms. Before signing the agreement, borrowers should thoroughly review the terms and conditions outlined by Oasis Financial. It is essential to address any questions or concerns and ensure a clear understanding of the repayment structure.
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Attorney Acknowledgment. Oasis Financial requires acknowledgment from the borrower's attorney as part of the application process. This acknowledgment signifies that the attorney is aware of the funding application and supports the verification of case details.
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Verification and Follow-Up. Borrowers need to cooperate with the verification process, which may involve Oasis Financial contacting their attorney to confirm case details. Following the submission of the signed agreement, borrowers should adhere to any follow-up instructions provided by Oasis Financial.
Ways to Receive the Money
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Electronic Bank Transfer. Borrowers have the option to receive the funds through electronic bank transfer. This method ensures a direct and secure transfer of the approved amount to the borrower's bank account, providing quick access to the financial assistance they need.
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Western Union. Oasis Financial facilitates fund disbursement through Western Union, offering a widely accessible and efficient means of receiving funds. This option is particularly beneficial for individuals who prefer to collect the funds in person at a Western Union location.
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Mailed Checks. For those who prefer a traditional approach, Oasis Financial can mail a printed check to the borrower's specified address. This method allows recipients to deposit the check into their bank accounts at their convenience.
Products
Oasis Financial specializes in pre-settlement funding, providing individuals involved in legal cases with access to funds before their cases are settled. This financial assistance is designed to help clients cover immediate expenses, such as medical bills and everyday living costs while awaiting the resolution of their legal claims.
Other Personal Loans
Reasons for Getting Rejected for an Oasis Financial Loan
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Insufficient Case Information. Incomplete or insufficient information about the legal case can lead to rejection. Oasis Financial relies on accurate and comprehensive details to assess the viability of the case and determine the appropriate funding amount.
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Uncooperative Attorney. If the borrower's attorney is uncooperative or fails to respond to inquiries from Oasis Financial, it can impede the verification process. Cooperation between the borrower, Oasis Financial, and the attorney is crucial for a successful application.
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Low Case Value. Oasis Financial typically limits funding to about 10% of the estimated case value. If the case value is too low, it may not meet the company's criteria for funding, leading to rejection.
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Geographic Limitations. Oasis Financial does not provide legal funding in certain states, including Arkansas, Connecticut, Kansas, Kentucky, Maryland, Montana, North Carolina, North Dakota, and West Virginia. If an applicant resides in these states, they may be ineligible for funding.
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Ineligibility for Workers' Compensation Funding. Workers' Compensation funding is limited to specific states, such as Illinois, Missouri, New Mexico, Ohio, and South Carolina. If the legal case falls outside these regions, the application for this type of funding may be rejected.
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Unfavorable Case Type. While Oasis Financial covers a broad range of legal cases, certain types may be deemed ineligible for funding. Applicants should verify that their case aligns with the company's criteria to avoid potential rejection.
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Changes in Financial Situation. A significant change in the borrower's financial situation or the circumstances of the case may lead to rejection. Oasis Financial assesses applications based on the information provided at the time of application.
How to Repay an Oasis Financial Loan?
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Case Settlement. Repayment of an Oasis Financial loan is contingent upon the successful settlement of the legal case. Once the case is settled, the borrower is required to repay the funded amount along with any agreed-upon fees.
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Review Terms and Agreement. Before receiving the funds, borrowers are provided with a contract that outlines the terms and conditions of the loan, including the repayment structure. It is crucial for borrowers to thoroughly review this agreement to understand the obligations and terms of repayment.
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Repayment from Case Proceeds. Oasis Financial operates on a no-risk model. Repayment is made directly from the proceeds of the legal case settlement. This means that if the case is not successful, and no settlement is reached, the borrower is not obligated to repay the funded amount.
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Settlement Amount Determination. The amount to be repaid is typically determined as a percentage of the settlement amount. This percentage is specified in the agreement and agreed upon by both parties during the application process.
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Attorney's Role. The borrower's attorney plays a crucial role in the repayment process. Once the case is settled, the attorney ensures that the agreed-upon repayment amount, along with any applicable fees, is deducted from the settlement proceeds before disbursing the remaining funds to the borrower.
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Timely Repayment. Borrowers are expected to fulfill their repayment obligations promptly after the settlement. The timely repayment ensures that the agreed-upon amount is settled, and any outstanding financial arrangements with Oasis Financial are concluded.
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Communication with Oasis Financial. If there are any challenges or delays in the settlement process, borrowers need to communicate with Oasis Financial. Open communication allows for a collaborative approach to address any issues that may arise during the repayment phase.
Alternatives
Tribeca Lawsuit Loans offers swift approval, with lawsuit funding often processed in as little as 24 hours. The unique pay-only-if-you-win model eliminates the financial risk for applicants, and no credit score is required for eligibility. Notably, Tribeca engages in detailed discussions with applicants and their attorneys to better understand the nuances of each claim.
USClaims stands out for its rapid fund disbursement, providing lawsuit cash advance options ranging from $500 to over $1,000,000 within 24 business hours. The company assures a risk-free experience, as repayment is contingent on the successful settlement of the case. With a policy ensuring that borrowers never owe more than twice the amount advanced, along with non-compounded rates, USClaims offers a reliable and client-focused approach to personal injury funding, backed by over 25 years of experience.
Preferred Capital Funding distinguishes itself by offering quick cash disbursement, often within 24 hours, without any associated risk. The company's no-payment-if-you-lose policy underscores its commitment to minimizing financial burdens for clients. Additionally, there are no credit checks or job requirements for applicants, providing accessibility to a broad range of individuals. Amounts of settlement loans can vary from $500 to $500,000, accommodating diverse financial needs.
Liberty Legal Funding provides unique, risk-free lawsuit financing options designed to ease the financial strain, for example, pay bills, often experienced during the wait for pending lawsuit settlements. By offering quick cash advances before settlement, they enable individuals to manage bills and medical expenses, allowing them to concentrate on their personal injury legal cases without financial distractions.
Loans like Oasis Financial
OppLoans
OppLoans is a notable financial service provider that offers consumer loans varying from $500 to $4,000. They expedite the funding process to ensure that approved applicants receive the necessary funds promptly, which is advantageous for those dealing with immediate financial concerns. OppLoans offers adaptable repayment conditions, giving customers the choice between 9, 12, and 18-month loan terms. This adaptability allows borrowers to opt for a repayment plan that matches their financial ability, ensuring a seamless and manageable loan journey.
Rise Credit
RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight.
OneMain Financial
OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid.
Universal Credit
Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.
Editorial Opinion
Important
How to Choose a Lender
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Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.
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Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.
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Carefully review all the terms and conditions of your payday loan contract.
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Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.
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Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.
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Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.
