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August 2016

How Champerty Can Help Disadvantaged Plaintiffs

Champerty
Champerty is an illegal agreement in which a person with no previous interest in a lawsuit finances it with a view to sharing the disputed property if the suit succeeds.  Champerty has been frowned upon since the practice of law began.  It is argued that champerty promotes frivolous lawsuits, drags out settlements and increases damages but th

Everything You Need to Know About Legal Funding

Consumer legal funding is an agreement where a legal funding company lends money to a plaintiff in a lawsuit and receives a fee when the case settles. 
 
Legal Funding goes by several other names including:
  • Pre-settlement Funding
  • Settlement Funding
  • Litigation Financing
  • Lawsuit Financing
  • Non-recourse Funding
  • Lawsuit Loan
  • Cash Advance
The consumer legal funding industry began in the mid-1990s, but has grown significantly in the past ten years with estimated capital invested of $100 million per annum.  While small compared to the revenue of the personal injury law industry of $35 billion per annum, many plaintiffs do not know they can borrow against their case. 
 

Hypothetical Lawsuit Funding Examples

We're you involved in a personal injury lawsuit?  Thinking about taking lawsuit funding?  We give two short examples to show you how lawsuit funding works and how it can be beneficial to the plaintiff.

Attorney Role in Lawsuit Funding

All litigation requires some sort of monetary funding.  Attorneys usually pay for legal fees up front and bill for them in the form of a contingency fee when the case settles.  In some situations, plaintiffs find themselves with an urgent need to pay their medical bills or living expenses.  This is especially true in tort cases.  They may not have access to other sources o
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