Refers to rates and/or fees related to loans that are exorbitant or illegally high. Each state has established maximum interest rates and rate caps for loans, those that exceed the established limit cannot be enforced.
- For Legal Funding purposes, a pre-settlement advance or "lawsuit loan", is not actually a loan. Rather, it is a non-recourse advance since if the case is unsuccessful, the advance does not need to be re-paid. Since a "lawsuit loan" is not actually a loan, it does not follow usury laws.
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