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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58 Consumer Reviews for Oasis Legal Finance

Average Consumer Rating: 1.7
Rating Snapshot:
5 star: 8 4 star: 1 3 star: 2 2 star: 2 1 star:  45
Bottom Line: 17% would recommend it to a friend
Showing 1-11 of 58
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  • 3 out 3 people found this review helpful
    Updated review

    Very bad experience, took over a week

    • Connecticut,
    • Nov 4, 2017
    • Verified Reviewer

    In the end, it took some time, more than a week.

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

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    • Previous review
    • Nov 2, 2017

    Very bad experience

    Let's see, it goes to I'm approved, and funds will get sent out, then goes to it's in the final review. One person will tell you what you want to hear and other reps will tell you something else. Thank you for wasting my time in a time of need, on behalf of my family and kids, thank you for a waste of time. I got surgery and need to have another surgery and am struggling to provide for my kids.

    (read moreread less...)

  • 0 out 1 people found this review helpful

    Oasis gave me a loan

    I called Oasis. They took my info and lawyer info, contacted the lawyers, got the ok from them, then they used Western Union to send the money. They approved me for a $600 loan and it cost $97 for them to Western Union me the money, and I had to pay $900 back! If you are truly in a bind, SURE, I recommend them. They will get you some money as far as the settlement loan goes!

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

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    • Oct 30, 2017

      mary phagan

      There are cheaper funders than Oasis. I would check out Global, Momentum and Redwood Funding, not in that specific order.

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  • 11 out 11 people found this review helpful

    Don't do it!

    In 2006 I was out of work and was waiting for a lawsuit to be finished. As you all know, sometimes this can take what feels like forever. Being a single mother of four and out of work almost a year, I turned to Oasis Legal Finance at the suggestion of my attorney's secretary. This was the worst decision I've ever made! I got a mere $2000 and ended up paying back almost $10,000. You do the math!

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

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  • 19 out 19 people found this review helpful

    Interest charges

    I was happy with my service until I received my settlement offer. I borrowed $3,200 and the pay back is over $11,000. Why is this done? Why so much interest? This is like a loan shark who boost up the amount to pay back to cushion their pockets.

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

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  • 17 out 17 people found this review helpful

    They don't help

    I got an advance cash settlement statement for $500. I ended up getting behind in rent and applied for additional funding only to be turned down a few times. My attorney told them I had a very good case and I was still turned down. Now I'm living with a friend until my settlement is done not happy at all with them.

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

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  • 22 out 25 people found this review helpful

    This place sucks!

    • Illinois,
    • Jul 11, 2017
    • Verified Reviewer

    This place is a joke. These guys are full of crap. They don't help people. They just sealed the deal on me losing our place for my children and me to live. I don't know how these people can sleep at night. They are horrible. And I will deter anyone I know from this company.

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

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  • 28 out 28 people found this review helpful

    Worst experience of my life. Don't do it! Seriously.

    OMG, Oasis Legal Finance is by far the worst! They are not true to their word, and very unethically spoken communication to its patrons. They just lie about everything including repayment terms, and interest paid on the loans.

    I borrowed $1900 and had to pay back over $3000 in six months, and they're bullying my lawyer and me with the repayment terms. They say one thing and are doing another. Honestly, I'm ready to withdraw my settlements, fire my lawyer, or make a deal with the insurance company on my own. I don't plan on letting them steal the heck out of my pockets like that and dictate and bully my lawyer and me on how much they can accept as a partial payment.

    Due to me having multiple lawsuits and a small one settling soon before the biggest ones, they want to put holds on every lawsuit I have, and I'm not losing to them blood suckers. We'll all lose together before I let them rob me like that!

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

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    • Oct 5, 2017

      Shane

      What you experienced is terrible! I'd have done the same thing, reject the settlement offers just to keep those sharks from getting their hands on 99% of your award money. My attorney recommended Oasis to me since I've received a settlement offer from LA County.

      However, I wanted to borrow $50K for six months and these people wanted me to give them $10K in return for that short loan! Not only did I reject their offer and go elsewhere for funding, but I had to BLOCK all their incoming calls and emails. What a bunch of snake oil salesmen. I'm so sorry for your experience, that sounds awful!

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  • 6 out 9 people found this review helpful

    Didn't get my money within 24 hours

    Well, I got approved for a loan on my injury settlement and my lawyer signed all the paperwork, and I also did, and I still haven't received a tracking number for my money. I thought they were supposed to get it to you fast within 24 hours, and all the paperwork has been done since Friday. Now they are saying that no counselors are in the office until Monday, so that means I'm having to wait three days to get my money.

    I'm let down and disappointed because I thought it was supposed to be fast like the commercial says, so I don't recommend doing it on a Friday to anyone because they will make you wait until Monday, and some bills just can't wait. So it's not very convenient. Had I known this, I wouldn't have used this company. Other companies do have people in the office on Saturdays to get you your money fast.

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

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  • 22 out 22 people found this review helpful

    Very expensive to get small amount of money

    • Las Vegas, NV,
    • Jun 24, 2017
    • Verified Reviewer

    I called Oasis after seeing a commercial for it. I never used a company like this. Very nice people on the phone. Good follow-up initially. The process was easy, and application and online documents were fine. I got approved for $1,140.00 of a $65,000.00 settlement. That's all their underwriters would approve.

    My lawyer understood, but this company is too expensive. I called Oasis several times for my case manager with questions. She didn't call me back. I found another funding company in New York. I got twice the money for less than Oasis would charge. I got a check the next day. Easy process. No added fees or $113.00 to Western Union, or processing fee, or monthly maintainable fee.

    Do your research! I'm glad I did. Thanks.

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

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    • Oct 5, 2017

      Shane

      I just did the same thing! Oasis wanted $10K from me on a six month advance of $50K. I found a different firm that is working with me now with a much better offer. I DID find out that Oasis works with attorneys on kickbacks! That figures, my attorney recommended them to me and I was highly suspicious right away.

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  • 20 out 21 people found this review helpful

    From the bottom of my heart

    No thanks from this end. I asked for help from Oasis for months while my case settled but help never came, not even a follow up to my many calls. The APR on their loans is outrageous! You're much better of without Oasis' help, believe me!

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

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  • 12 out 12 people found this review helpful

    Hurry up and wait

    • Phoenix, AZ,
    • May 22, 2017
    • Verified Reviewer

    Yeah, they say in as little as 24 hours, and that's correct, it takes them 24 hours to even contact your attorney and then take the weekend to make a decision and call on Monday. Although their payback is guaranteed, my attorney has allready settled the case and I am just waiting for the check to come, which may come before Oasis makes there decision. Money in a rush, don't call Oasis!

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

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