Lawsuit Lending Facts

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Fast Cash, Exorbitant Interest: States Act to Reign in Lawsuit Lenders

Across the nation, individuals in need of funding to file lawsuits are falling victim to financial lenders who claim easy, fast cash. What these lenders fail to mention, however, are the maliciously high interest rates that can exceed 200 percent. Learn more in this video.

 
 

Real Life Victims of Lawsuit Lending Abuse

“Do you need cash now?  Have a pending lawsuit?  Now you can get the money you need in as little as 24 hours!”


If you watch a lot of late night or daytime TV, you’ve probably seen dozens of those commercials blaring at you from the screen, promising to put money in your hand to pay your bills while you are waiting for your lawsuit to be settled.


It’s all part of a burgeoning lawsuit lending business that has been steadily growing in America.  And if it sounds too good to be true, that’s because it almost certainly is.  In reality, opponents claim these loans are misleading, unregulated, and carry interest rates that can exceed a shocking 200%, leaving some people with nothing.


That’s what happened to Jeffery Hall of Oklahoma.  After suffering injuries on the job, Hall borrowed $6,600 dollars from a lawsuit lender.  When his case was finally settled three years later, he ended up owing more than $18,000.

Click above to watch the full video.