fbpx
News
December 11, 2017

In the News Today – December 11, 2017

Lawsuit lending firms, which loan cash to plaintiffs before they receive settlement money, see a boost in business during the holiday season, but the loans come with interest rates that are more expensive than credit card debt, reports CNBC.

Some of the firms in the report charge annual interest rates ranging between 25 and 98 percent. The average credit card interest rate is 16.61 percent, according to Bankrate.

Regulation of the practice is largely left to the states. ILR’s Page Faulk said in the story that states like Arkansas, Indiana, and Tennessee have passed laws that limited interest rates or required more disclosure.

litigation funders, beach scene Blog Sun, Sea, but no Sand(box) for Florida Lawsuit Investors Lawsuit Lending, Third Party Litigation Funding (TPLF) News New Blog: Funders And Claimants’ Lawyers Continue To Feast On Class Members’ Compensation International Initiatives, Lawsuit Lending, Third Party Litigation Funding (TPLF) News Study: Mass Tort Plaintiffs Paying Dearly For Loans, Regulation Needed Lawsuit Lending, Mass Tort Multidistrict Litigation, Third Party Litigation Funding (TPLF) Video 2019 Lawsuit Climate Survey: Press Video Lawsuit Lending Video 2019 Lawsuit Climate Survey Ranking the States Videos Lawsuit Lending

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Review Settings