About Oasis Legal Finance

As their name implies, Oasis Legal Finance specializes in lawsuit and legal funding services targeted toward individuals who need to liquefy cash related to pending legal settlements.

The company claims to be the “largest and most recognized national brand in legal finance providing non-recourse lawsuit funding to consumers involved in personal injury litigation,” and to be a fast and efficient method of obtaining the cash you need.

In business since 2002, Oasis Legal Finance is based out of Chicago, IL, and is a founding member of American Legal Finance Association (ALFA).

The company holds an A+ rating with the Better Business Bureau, which is based on 13 closed complaints over the past three years.

Based on our research, the most common complaints we encountered cited high fees, which in some instances amounted to more than the final settlement (read more about this in the Bottom Line section).

How Oasis Legal Finance Works

Like Peachtree Settlement Funding, JG Wentworth, Annuity.org, and others, Oasis Legal Finance can help you liquefy future payments related to structured settlements, and turn it into a lump sum cash payment.

Unlike these other companies, though, Oasis Legal Finance specializes in lawsuit and legal funding.

For example: If you’re involved in a personal injury suit and find yourself unemployed for a period of time, your obligations don’t stop. You may have a mortgage, car note, medical and legal bills, and more, all of which need to be paid each month.

With this in mind, Oasis Legal Finance claims to have “a simple, fast and efficient streamlined funding process” that can provide you with the cash you need, in exchange for “selling” them the future payments related to a pending settlement. This is how it works:

  1. You submit your application and give Oasis Legal Finance permission to speak with your attorney, who will then contact them to see whether or not your case qualifies.
  2. Your lawyer will prepare documents relevant to your case, including retainer agreements, incident reports, medical bill summaries, and so forth.
  3. If Oasis Legal Finance’s “team of legal, business and financial professionals” deems your case to be strong, funding will proceed from there. For full details, see the company’s Funding Overview.

Oasis Legal Finance Pricing

According to the Oasis Legal Finance website applying is free, and there are no upfront costs. The company also claims that, because the process is not a traditional loan, your credit rating has no impact on your approval, which can often be obtained in 2 days.

Fees associated with your future payment purchase often vary and will need to be discussed with the company at 877-333-6675 or via an online form.

Pros

  • Claims to be the “largest and most recognized national brand in legal finance.”
  • Claims that if you don’t win your case, there’s nothing to repay.
  • Extensive website with very detailed information about the legal funding process.
  • A rating with the Better Business Bureau.

Cons

  • Numerous customer complaints involving high fees, in some instances, totaling more than the final settlement amount.

Bottom Line – Should you Use Oasis Legal Finance?

Keep in mind that, while the cash provided by Oasis Legal Finance technically doesn’t constitute a loan, if you don’t repay it quickly, large fees and high interest rates can quickly add up.

In fact, according to this NY Times article from 2011, because legal lending “remains unregulated in most states,” they are “unrestrained by laws that cap interest rates,” which “often exceed 100 percent a year.”

This means that if your case doesn’t conclude soon after taking out your “loan,” you could end up paying thousands in interest.

As a testament to this, one of the individuals mentioned in the article owed Oasis Legal Finance more than $23,000 after it took their case 18 months to settle, on a loan that originally totaled just over $9,000. To further solidify the issue, you can read about similar situations here, here, and here.

In addition, Oasis Legal Finance was sued by the State of Colorado in 2010 for alleged deceptive trade practices and unlicensed lending, which appears to have been upheld by the courts.

Ultimately, Oasis counter-sued, claiming that “the state was improperly trying to regulate them as lenders under the Uniform Consumer Credit Code.” A copy of the court documents can be found here.

What this comes down to is that if you don’t absolutely have to take out a “legal funding” loan, it’s best to avoid them altogether.

Read Next: The Minimalist Guide to Selling Your Structured Settlement

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38 Customer Reviews for Oasis Legal Finance

Average Customer Rating: 1.5
Rating Snapshot:
5 stars: 5 4 stars: 0 3 stars: 0 2 stars: 0 1 stars: 33
Bottom Line: 13% would recommend it to a friend
Showing 1-11 of 38
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  • Extremely Pleased

    I was involved in a severe car accident in January of 2016 when an elderly woman ran a red light on a highway as I was entering the intersection. The accident not only totaled my vehicle, but I have had two spinal surgeries (so far), will need an additional fusion as well as I have been unable to run my business for almost a year. Oasis has been a God-send to say the least. When I first applied in August I was approved for $6,000. In the following months, they have graciously funded me an additional 3 times. There are many mitigating factors that determine if your case is viable or not, such as the strength of the case, amount of the liability coverage from the other party, risk vs reward. Yes, the interest rate is high, however, if applicants were in a position to find funding elsewhere there would be no need for companies such as Oasis. Each time I have called I have been treated with respect, professionalism, courtesy, and even empathy. All my questions have been answered and the process is extremely easy, and the information was disclosed in detail before the transaction occurs. I would HIGHLY recommend Oasis.

    Bottom Line: Yes, I would recommend this to a friend

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  • Thank you

    When Oasis called me this morning it made me very happy, everyone I spoke with was awesome. I will recommend Oasis to anyone in this type of situation. Thank you for your help during these hard times in my life.

    Bottom Line: Yes, I would recommend this to a friend

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  • 5 out 5 people found this review helpful

    Don't do it!

    • Alaska,
    • Nov 18, 2016

    I got $6,000 BUT only received $4,000 (FEES)! I couldn't get a court case soon enough and ended up owing about 12000 when done. A third of my money.

    Bottom Line: No, I would not recommend this to a friend

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  • 6 out 6 people found this review helpful

    Rip off scammers

    • Palm Coast, FL,
    • Nov 11, 2016

    My son borrowed $4,500 on his settlement, he got a bill for $22,000 from these blood suckers. I have filed with attorney general Pam Bondi of Florida. They are meant for a special place in hell.

    Bottom Line: No, I would not recommend this to a friend

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  • 3 out 6 people found this review helpful

    A Bad day turned into a Great one.

    I was in a crunch for funds and decided to contact Oasis for a loan. Let me tell you I was having the worse week of my life. My license got revoked, my insurance canceled, and my registration canceled. After talking with Oasis they paid off my prior loan and also funded me the money I needed to get my life back on track without having to use my paychecks due to this 4 car pile up I was in. After several tag team calls and emails from myself and my attorney, we got the job done and got me funded. Thank you Oasis.

    Bottom Line: Yes, I would recommend this to a friend

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  • 5 out 5 people found this review helpful

    What a Joke

    What false advertising. Not sincere to help you and nonprofessional on the phone, would not recommend to anyone. You will pay back thousands of dollars as to what you borrowed.

    Bottom Line: No, I would not recommend this to a friend

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  • 7 out 7 people found this review helpful

    Bad business

    • New York,
    • Oct 28, 2016

    Do not ask for a loan from these people.

    It took 3 days and I had to call them several times to get answers.

    I have a case but they did not approve me. So I went elsewhere and got what I needed to help my family.

    They don't want to help so don't waste time with them, seek others for financial help instead. I would give them no stars if that were an option!

    Bottom Line: No, I would not recommend this to a friend

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  • 4 out 4 people found this review helpful

    They are rude and don't help you when you really need it.

    • Savannah, GA,
    • Oct 25, 2016

    My case manager Tayana Garcia is rude. She acts like she doesn't care and is very nonchalant and just overall unprofessional. No, I'm not mad because they declined me but the fact that they're not there when you really need them really sucks.

    I just went through hurricane Matthew and I am low on funds because I had to evacuate and they declined me.

    Bottom Line: No, I would not recommend this to a friend

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  • 15 out 16 people found this review helpful

    No help

    I have asked for help from Oasis twice and I've gotten denied both times. They say that they get the money for people before the case settles but that's a lie! When you need to pay your bills and the case hasn't settled, do not call Oasis Finance because they will not help.

    Bottom Line: No, I would not recommend this to a friend

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  • 18 out 20 people found this review helpful

    Borrower

    • Twin Cities,
    • Sep 11, 2016

    I tried to get a loan from Oasis Legal Finance during my car accident case, that is still going on. I did get approved for $700.00, but they expect me to pay back $1100 within 3 months. To me, that's a loan shark. They try to make money from me as fast they can, instead of trying to help me out. I would never go back to them for help whatsoever. Lucky I did not accept their offer.

    Bottom Line: No, I would not recommend this to a friend

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  • 29 out 29 people found this review helpful

    This company is full of it.

    I applied for a $2500 loan so I could get my car out of the auto body shop after repairs were made stemming from an accident in May of this year. They only gave me $525, not what I asked for. I applied again twice this month, this time for $3,000, was turned down twice, for the same reasons that everyone else has said, "because they didn't feel comfortable lending out that amount."

    Two things Oasis Financial needs to stop doing: stop advertising yourself as one of the best pre-settlement funding companies out there, you are not. Your customer service is, to be blunt, absolutely rude. I get that this wasn't the life choice you wanted to make, to be rude to customers, but what can you do. If you don't feel comfortable lending me the money that would be awarded out of MY settlement, then what good is your company?

    And second, when I ask to speak to an executive, I don't want the poor supervisor, I want an EXECUTIVE! This is the third company where I've demanded to speak to an executive only to be handed off to an executive specialist. If you don't think I'm worth speaking to someone higher than a supervisor, then you don't think much of me as a customer.

    Oh, and by the way, because you've declined me twice, I have no other choice but to let my car be seized by the sad excuse of the car finance company I deal with. Please don't say we're sorry for your predicament, because it won't get me the $3000 I needed. You know EXACTLY where you can stick that apology.

    I have filed a complaint against Oasis Financial with the Better Business Bureau.

    Bottom Line: No, I would not recommend this to a friend

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Showing 1-11 of 38

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