TD Canada Trust Tower
161 Bay Street, 27th Floor
P.O. Box 508
Toronto, Ontario M5J 2S1
885 West Georgia Street, Suite 1500
Vancouver, British Columbia V6C 3E8
1959 Upper Water Street, Suite 1301
Halifax, Nova Scotia B3J 3N2
West Tower, 888 3rd Street SW
Calgary, Alberta T2P 5C5
1. WHAT IS NEEDED TO QUALIFY FOR A SETTLEMENT LOAN?
To qualify for a settlement loan, you need to have been injured in a motor vehicle accident (through no fault of your own) and be currently working with a lawyer to obtain a settlement. If you have been injured in a motor vehicle accident and do not have a lawyer, we would be happy to refer you to lawyer in your area. Click here to access our Find a Lawyer program.
2. HOW LONG WILL THE LOAN APPLICATION TAKE?
Rhino Legal Finance can provide a settlement loan in as little as 4 hours, provided we are able to discuss the matter with your lawyer and receive all the necessary details. We understand the importance of processing your loan as quickly as possible, and we pride ourselves on the fastest turnaround times in Canada.
3. IS A SETTLEMENT LOAN THE RIGHT CHOICE FOR ME?
We always suggest to clients that they explore all their borrowing options from traditional sources prior to considering a settlement loan. These traditional options might be family or friends or a secured line of credit through a bank or other financial institution. If these options are not available to you, a settlement loan may be your best option. We can help you pay your bills, live more comfortably, and allow more time for your lawyer to win the highest possible settlement.
4. WHAT ARE YOUR INTEREST RATES?
For information about Rhino Legal Finance’s loan interest rates, please contact us.
5. WHAT IF I LOSE MY CASE?
Provided the case was actively pursued and a legal judgement rendered, you would not be required to pay back the loan. There are some exceptions, though. If you obtained the loan through fraud or misrepresentation, if you abandon or fail to prosecute your claim, if you claim bankruptcy, if you fail to keep us informed about your whereabouts, if you cease to be legally represented, or if you otherwise breach the terms of your loan agreement, exact terms will appear in your loan agreement.
6. WHAT IF I HAVE A POOR CREDIT HISTORY OR HAVE NO INCOME?
We are providing you a loan against a future settlement. This loan is independent of your current circumstances, and so we do not require a credit history or employment income information. Our loan is based primarily on our review and assessment of the merits of your case.
7. CAN I PAY BACK THE LOAN BEFORE THE CASE IS SETTLED?
We have a minimum four month term for the loans we provide. Once four months have passed, you can pay the loan back. Otherwise, there are no additional penalties or charges.
8. DO I NEED TO MAKE MONTHLY INSTALMENTS OR PAYMENTS ON THE LOAN?
No payments prior to receiving your settlement are required. Payment is made in full at the time of settlement.