fbpx
News
January 31, 2018

In the News Today – January 31, 2018

The Georgia Supreme Court will hear a case that could decide whether lawsuit lending arrangements actually qualify as loans under state law and are subject to regulation.

Ruth v. Cherokee Funding, LLC will examine the high interest rates that typically come with these arrangements. One of the plaintiffs said he was asked to repay $84,000 after receiving only $8,000 from Cherokee Funding. Another plaintiff said she was asked to repay 250 percent of her original loan after only two years. Oral arguments will start in May. 

Lawsuit lending, in which firms offer cash in exchange for settlement money and interest, has been in the public and legal eye in recent months. The Colorado attorney general announced a $2.3 million settlement last month with lawsuit lending firms that charge “predatory interest rates.” A New York Post exposé found a lawsuit lending firm was charging interest rates as high as 124 percent.

Delaware General Assembly Blog Delaware Wants to Take a Closer Look at the TPLF Industry   Third Party Litigation Funding (TPLF) Blog European Parliament Legal Affairs Committee Adopts TPLF Legislative Initiative Report International Initiatives, Third Party Litigation Funding (TPLF) Welcome to Delaware Sign Blog Another Federal Court Now Requires Disclosure of Third Party Litigation Funding Third Party Litigation Funding (TPLF) litigation funders, beach scene Blog Sun, Sea, but no Sand(box) for Florida Lawsuit Investors Lawsuit Lending, Third Party Litigation Funding (TPLF) Blog Third Party Litigation Funding: Buying Trouble Across the Globe International Initiatives, Third Party Litigation Funding (TPLF)

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