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 164 Oasis Financial Customer Reviews and Complaints

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Average Consumer Rating: 3.2
Rating Snapshot:
5 star: 79 4 star: 9 3 star: 6 2 star: 3 1 star:  67
Bottom Line: 58% would recommend it to a friend
Showing 1-11 of 164
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  • 68 out 70 people found this review helpful

    RIP-OFF

    • Illinois,
    • Dec 23, 2015
    • Verified Reviewer

    I used them, and I can say RIP-OFF without blinking an eye. Sure they were more than willing to loan me the funds I needed, the loan was $18,000. The contract said a 2 year pay-off was $26,000. Which I understand they need funding to keep going. What they didn't tell me was if I didn't pay the loan at an $1100 monthly pay back rate in the 2 year period, which is now getting ready to be paid, there are hidden fees at 3% here and 3% there and other crap. They proceed to tell me it is also accruing $18 a day as long as it isn't paid. But in reality I am being charged $36 per day since the loan has been taken out, which comes to the amount of $44,000. So if anyone can make it without having to use this company please do.

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

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  • 67 out 67 people found this review helpful

    Oasis is a scam

    • Ohio,
    • Jan 4, 2016

    This company should be illegal, they take advantage of people that are hurt, and can't work. The bills just keep piling up. They loan you money, then charge up more than double of what you borrowed. Unbelievable that this company is allowed to do this to people.

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

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  • 64 out 66 people found this review helpful

    A true scam.

    • New York, NY,
    • Dec 24, 2015

    Oasis is a true scam. I submitted my application and was contacted 2 days later. I told the rep my story and was told that she would contact my attorney. I called two days later and was told that they got the info from my attorney and underwriting was looking at it. Two weeks later I called and still underwriting was still going over it. I called my attorney and was told that Oasis never contacted them. Later that day, I received an email that they couldn't help me. A definite scam.

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

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  • 62 out 65 people found this review helpful

    Pedestrian hit by a semi. LARGE settlement!

    • Chicago, IL,
    • Jan 5, 2016

    This company is worthless! Never return my calls or emails. They promise you the moon, but don't deliver. Don't waste your time. Two surgeries, months of Physical Therapy yet still more surgeries have to be done.

    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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  • 56 out 59 people found this review helpful

    Do not trust these people

    • Greenville, Ohio,
    • Apr 3, 2016
    • Verified Reviewer

    You do not want to mess with these people, you're better off going to the pawn shop. You'll be paying them over triple what the loan is, and then, they will try to charge you twice for one loan. The people that work there are very rude and inconsiderate.

    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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  • 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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  • 50 out 50 people found this review helpful

    Big Rip Off

    • Orlando, FL. ,
    • Dec 4, 2015

    Please don't borrow from this company, I borrowed $1,000 and had to pay back $7,000. My attorney tried to negotiate with them to lower their fees, but they would not. I strongly suggest that you borrow somewhere else. Please don't do it.

    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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  • 49 out 51 people found this review helpful

    Never call OASIS Legal Funding

    • Pensacola, FL,
    • Nov 9, 2015

    I called everyday to see where my case was at and three days ago I was told it would take one day to close the case and receive funding. I called today and was told it was still in review after one week and they lied and never once tried to get in contact with my lawyer to settle it quickly. Oasis is a scam if you ask me. Oasis charges an out of this world fee since they are not "loaners", they are just financiers. Oasis charges what you got in loan + two times that amount. Oasis legal funding is not a funding company for me, they are supposed to help those in need of money while their case is settling. Instead, they put you in bankruptcy with their fees! Do not use OASIS, whatever you do is better, even if you have to wait to get your settlement.

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

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