Lawsuit Lending Facts

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Op-Ed: Time for Texas to rein in ‘lawsuit lending’

April 24, 2014

Jill Shackelford, chairwoman of Citizens Against Lawsuit Abuse of Central Texas, writes in the Waco Tribune that, "It's time to bring some sanity and consumer protection to lawsuit lending."

Shackelford writes: "Lawsuit loans, operating without any consumer protection or regulation, can end up costing consumers nearly 100 percent of the loan in compounding interest and hidden fees over the course of a year. In some cases across the U.S., interest and fees on lawsuit loans climbed as high as 150 percent annually."

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