Lawsuit Lending Facts

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Did You Know?

Interest rates on lawsuit lending loans can exceed 100% and that some firms charge up to 250% of the loan amount? Unfortunately, that’s right.

Because of a lack of regulatory oversight, many lawsuit lenders are not required to explain their pricing structure to plaintiffs before they approve a loan. Be armed with the facts and know your risk.

 

Key Headlines More +

April 28, 2013 - Loan & Order: States Object to 'Payday' Lawsuit Lending: - More and more states are debating whether to enact stricter oversight regulations on lawsuit lenders. Read More

April 20, 2013 - Lawsuit lenders trap Texans in vicious cycle of debt - "The money sounds too good to be true. And, unfortunately, it often is." Read More

April 19, 2013 - Cash-now Promise of Lawsuit Loans Under Fire - "The lawsuit lending industry goes to great lengths to tell the public that consumer lawsuit loans are not really loans but are instead 'non-recourse financing,' and this is how, in many states, lawsuit lenders have managed to skirt usury and fair-lending laws ... "But their advertisements sing a different tune. A simple Web search using the term 'lawsuit loan' turns up a flurry of paid advertisements with headlines like 'lawsuit loans NOW!'" Read More

March 18, 2013 - Lawsuit Lenders Facing Regulation - "The bill would place regulations on lawsuit lending companies similar to those that banks and other lenders face. That includes making the lending companies subject to the state finance code, and requiring disclosure to courts during trials." Read More

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