About Oasis Financial

As their name implies, Oasis Financial 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 Financial Works

Like Peachtree Settlement Funding, JG Wentworth, Annuity.org, and others, Oasis Financial 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 Financial 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 Financial 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 Financial 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 Financial'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 Financial Pricing

According to the Oasis Financial 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 Financial Finance?

Keep in mind that, while the cash provided by Oasis Financial 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


Read 162 Oasis Financial Customer Reviews and Complaints

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Average Consumer Rating: 3.2
Rating Snapshot:
5 star: 78 4 star: 9 3 star: 6 2 star: 3 1 star:  66
Bottom Line: 58% would recommend it to a friend
Showing 1-11 of 162
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  • 43 out 44 people found this review helpful

    Worst legal funding company

    • Los Angeles, CA,
    • Jan 11, 2015

    This company's advertisement is misleading and they are liars. I called them to get information, and all the information they gave me was the opposite of their advertisement. This company is scam and I don't recommend anyone taking a loan from them. They told me they called my attorney and my attorney does not work with them, so they can't lend me money. I called my attorney's office and they said this company never called them. I made a three way calling with my attorney on the line and the person who said my attorney won't work with them Brandon (the supervisor) never came on the line to be confronted with his lies. After holding for 30 minuets I hung up the phone and my attorney referred me to another reputable company. You will also end up paying back twice the money they give you if you read the previous reviews. If you need money ask your attorney and they have funding companies that they directly work with and they can refer you to. Thanks to my attorney I didn't fall in to the Oasis Legal Funding trap.

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

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  • 47 out 49 people found this review helpful

    High interest rate

    • Florida,
    • Mar 21, 2015

    I requested a loan from Oasis Legal for a total of $3,000 dollars. When my case was settled the loan had grown to a grand total of $7,810. The case was settled about a year and two months after the loan.

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

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  • 49 out 50 people found this review helpful

    Oasis loan

    • Hudson, fl,
    • Jun 9, 2015

    What a bunch of loaun sharks! Actually, loan sharks wouldn't charge as much as they charged me. I borrowed $7500.00 and was charged $20,000.00. Unless your case is going to settle within one month, I strongly suggest that you stay away from this company. This money was borrowed for around 10 months. I know you may think you really need this, unless you are being thrown out into the streets, don't do it. Find a loan shark, in the end you'll make out better going through them, trust me. I only wish I had someone to tell me to run from this company.

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

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  • 52 out 55 people found this review helpful

    Worst company I ever dealt with

    • California,
    • Jun 13, 2015
    • Verified Reviewer

    I was in an accident on 06/06/2015. I was traveling 65 miles an hour when a drunk driver rear ended me with over 100 miles an hour. I am insured by Farmers insurance and the other car was brand new and had AAA insurance. I was rear ended, other driver was at fault 100%. He was fully insured. I asked Oasis for help and they refused to help me. Please somebody tell me if there is any case stronger than mine? This is the worst company there is and I will never work with them and won't let any of my friends work with this company. You are not legitimate company.

    You are fraud. I will let everyone know about you. I will ask Google to remove you from their search engine.

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

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  • 53 out 53 people found this review helpful

    Waste of time

    • Tampa,
    • Jun 20, 2015

    A lot of back and forth calls from the rep and my attorney. When my attorney tried to return Vanessa's (from Oasis) calls she was never available according to my attorney. After reading some of the reviews I canceled everything.

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

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  • 58 out 58 people found this review helpful

    Don't Borrow Any Money On Your Settlement

    • Wilmington Delaware ,
    • Jul 12, 2015

    First of all they already know if your case is worth lending you money after they have reviewed it. They are not going to lend you money if they feel your case will lose, so all that "if you lose your case you owe us nothing" is crap. The $5,000 I borrowed turned into $23,000 when repayment time came. Seems like case became longer to settle after I borrowed money. This was about almost 2 years ago. If you can help it, don't do it.

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

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  • 42 out 42 people found this review helpful

    Please don't do it.

    • High Point, NC,
    • Sep 2, 2015

    I was in a car accident three years ago, injured pretty bad. Had a good lawyer but I had bills piling up, so I called Oasis because my lawyer suggested them. The lady I spoke with was very nice but seemed like she was hinting that I I might want to rethink my decision. I proceeded anyway. Within two days they wired me eight grand. After everything was said and done they got nineteen thousand dollars. More than double. I should have went to the mob and borrowed the money. I would never refer a friend or my worst enemy.

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

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  • 38 out 39 people found this review helpful

    Not until there is an offer on the table

    • Texas,
    • Sep 7, 2015
    • Verified Reviewer

    "Not until there is a offer on the table" that is why I was refused by Oasis. My case has been ongoing since 12/30/2013 - A Yellow Cab hit me while I was walking in a marked crosswalk. The insurance company has admitted liability but is trying to low ball the offer. I have had shoulder surgery among many other medical issues and now facing back surgery. This is where Oasis came in - I needed $5000 to help with the surgery as well as bills. So, I asked Oasis for help and they turned me down saying, “Not until there is a offer on the table”. So the "Win or Lose" is not a true factor. You have to win first and only then they will slide in like a snake for the bite of the prize. What a joke!

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

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  • 37 out 37 people found this review helpful

    Horrible service

    • Conway, SC,
    • Oct 13, 2015

    ABSOLUTELY added money for the kickback to attorney, wouldn't return a call or an email, claimed on the last day of the month that "this offer will expire by end of day" but yet I was emailed with the ridiculous offer for a no brainer/no fault lawsuit for another 9 days.

    Measly attempt at HIGH PRESSURE but I imagine those who were desperate may fall for it. THANK GOD I didn't wait till the last minute for this unfortunate channel I have to use.

    AVOID this company at all costs.

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

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  • 34 out 34 people found this review helpful

    It's a scam.

    • Brooklyn, NY,
    • Oct 21, 2015

    After all is said and done, you'll end up paying back more then 50% + more than you borrowed and you won't even know. And they don't loan you the money as fast as they say. It's a scam people! Go to the bank.

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

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  • 46 out 46 people found this review helpful

    Scam

    • Georgia,
    • Nov 7, 2015

    Please don't use this service. I'm disabled and had to borrow money until the lawsuit was settle. My lawyer tried to negotiate from the finance charges. They took all my money. They got more money than I did. Now think about this. If you don't win your case, you don't pay back, however, if you settle your case, you pay money borrowed plus all other charges. They don't care. Please don't get caught up in this scam. Every time someone mentions this service to me, I talk them out of it.

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

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