Lawsuit Loan Laws & Regulations

Lawsuit loan laws are becoming more important to lawmakers as the industry continues to grow. On one side, lawsuit loan lenders want very limited regulation since their loan products donít fall into the same category as traditional loans, they are non-recourse loans. On the other side, lawmakers are seeing lawsuit loans as a dangerous industry that with no regulations can get out of hand. There have been reports of people owing more money than their settlement amount and outrageous amounts of interest owed.

Lawsuit Loan Laws & RegulationsThe lawsuit loan industry claims the high interest rates are due to the fact that there is a huge risk with this type of loan. If a plaintiff loses their lawsuit the lender is out the money and has non-recourse to get paid back. On the flip side a plaintiff can lose a large amount of their monetary awards due to interest owed and the original principal. These problems have made lawmakers design lawsuits to protect plaintiffs and the lenders but these laws and regulations vary by state.

We recommend that you talk with your attorney and a few lawsuit loan lenders and inquire about any laws or regulations that affect lawsuit loans in your state. With the ever fast pace changing of laws itís almost impossible to stay up to date on the legislation changes in every single state. You can use the below instructions to find out more information regarding lawsuit loan laws in your state.

  1. Go to the following website: State & Local Goverment Directory.

  2. Select your state in the column for state goverments. (Check both your occupancy state and state the case is being tried in)

  3. Go to your state's main homepage.

  4. Locate the general contact page or e-mail and request contact information for laws related to lawsit loans.

Lawsuit Loans in the News

Lawsuit Loan NewsWe believe that itís important that people have up to date information in regards to lawsuit loan laws. Thatís why we put together the mini newsroom below to provide real-time news updates related to laws regarding lawsuit loans. The articles below match specific criteria related to lawsuit loan news and should be directly related to any laws or legislation affecting the industry.