Tag Archives: LegalFundingLegislation

Will A New Litigation Funding Act In Missouri Help Plaintiffs?

Missouri has started its period of bill pre-filing for the 2016 legislative year, and several bills have already been put on the line up to be considered as future Missouri state laws. One bill proposes that the state’s high schools require a standardized test similar to the US immigration test, another suggests new anti-terrorism measures, but one bill could also affect Missourians’ ability to seek out justice in civil court. Will New Litigation Funding Act In Missouri Help Plaintiffs? Recently legislation in Colorado put legal funding under extreme restrictions, which has nearly made it impossible for legal funders to help the victims of personal injury accidents. The legislation in that state is just another example of misguided legislation that will do more harm to victims trying to find justice than good, and now new legislation is on the horizon in Missouri. Could this legislation be as devastating as the Colorado…
Read More »

Posted in Funding for Plaintiffs | Tagged | Leave a comment

Should Payday Lending Rules Apply To Legal Funding?

A Colorado court has delivered a decision that might endanger consumer legal funding in the state. This could force victims of auto accidents, slip and fall accidents, and malpractice to accept low ball initial settlements from companies looking to meet a bottom line rather than pay a truly fair settlement. However, the supporters of legal funding have not given up. Should Payday Lending Rules Apply To Legal Funding? A Colorado court plans to force legal funding companies to adhere to the Colorado Uniform Consumer Credit Code (UCCC). These codes were initially applied to payday loans due to scrupulous companies charging high interest on the loans they provided. These companies took advantage of consumer circumstances to profit, but that business is nothing like consumer legal funding. “This anomalous decision imposes state government regulations designed for credit products on property rights,” says the Alliance for Responsible Consumer Legal Funding (ARC). Companies like…
Read More »

Posted in Funding for Plaintiffs | Tagged | Leave a comment

Is Congress Getting Involved With Legal Funding?

The legal funding industry continues to grow at an astonishing rate. More and more people are discovering the benefits of legal funding, and the industry is giving options to people who couldn’t afford to pursue legal action. This is catching the attention of Capitol Hill. Two senators have sent letters to legal funding companies, which begs the question: “Is Congress getting involved with legal funding?” Senate Judiciary Committee Chairman Chuck Grassley of Iowa and Senate Majority Whip John Cornyn of Texas have sent letters to several companies in the legal funding industry. These letters demand that these companies release a report of profits, a complete list of cases, and that they disclose if any third parties have had access to their financing information. “It’s vitally important to our civil justice system that litigation decisions aren’t unduly influenced by third parties,” says Senator Grassley. However, the investigation is likely to find…
Read More »

Posted in Personal Injury News | Tagged | Leave a comment