What fees do you charge?
Two, and that is the complete list: a $100 application fee charged on your first advance only, and a $100 processing fee charged on each advance. Get Lit Money charges no closing fee, no document filing fee, no underwriting fee, no servicing fee, no wire fee and no broker fee. The only thing that grows with time is the published charge per six-month period, which the agreement calls a renewal fee.
Neither fee is paid out of pocket. Both are added to what is repaid at settlement, neither grows over time, and both are canceled along with everything else if your case does not recover.
Both sit outside the 2× cap. We say that plainly rather than describing the cap as covering everything, because a cap that turns out to have exclusions is exactly the kind of surprise this industry is known for. A capped $2,500 advance repays $5,200, not $5,000.
The reason this matters is that fee stacking is where a lot of the real cost hides in this category. A closing fee charged as a percentage of the advance, a filing fee on every advance, and a monthly servicing charge for as long as the case stays open can together add more than the headline rate suggests — and they are frequently disclosed only in the contract, not on the website.
So when you compare funders, do not compare rates. Ask each one for the total dollar figure you would repay, in writing, with every fee itemized. If a company will not itemize, that is your answer.
Still not sure? Ask us directly.
Call 813-798-5528 and talk to a person, or apply in two minutes. There is no cost to apply, no credit check, and no cost if we say no.