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Put a Ring on it

The following is a contribution from Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC). 

What is the best way to reduce the amount of companies offering Consumer Legal Funding?

Simple: Put a RATE on it!

In Beyonce’s “Single Ladies (Put a Ring on it),” the lyrics read: “If you like it then you shoulda put a ring on it.” The US Chamber and Insurance Industry are singing a similar tune when it comes to Consumer Legal Funding. However in their song, the lyrics read: “Put a RATE on it.”

They want to put a rate on Consumer Legal Funding because they want the product to disappear from the marketplace, plain and simple.

If you look at the recent passage of an 18% rate cap in West Virginia, which passed earlier this year, the bill has eliminated the Consumer Legal Funding industry from the state. According to the West Virginia Secretary of States website, there are ZERO Consumer Legal Funders registered to operate in the state.

This is a replication of what happened in Arkansas when the state passed a 17% rate cap in 2015. There has been ZERO business there since.

Now let’s compare this to Oklahoma which passed a strong regulatory bill in 2013 that did not include a rate cap. Today, there are 20 companies offering the product in the state. But here is a real interesting fact about Oklahoma: Of the 20 companies offering the Consumer Legal Funding, a full 25% are Oklahoma-based. Check out Oklahoma’s own website.

These are companies paying local taxes, hiring local employees, and growing the local economy. Isn’t that what the US Chamber of Commerce claims it tries to promote? Entrepreneurship, taking a risk and grabbing the American Dream. In fact, the motto of the US Chamber is “The Spirit of Enterprise.” CEO Tom J. Donohue talked about that very spirit in a speech back in 2017 at the AEI’s Summer Honors Program.

Maybe the US Chamber should piggyback off another Beyonce song, “Lemonade,” where she sings “You can taste the dishonesty, it’s all over your breath, as you pass it off so cavalier.”

So which is it? Is the US Chamber for growing the US and local economies or are they for limiting and reducing them?

Just want to know which song to queue up…

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Express Legal Funding Launches LFAFF: New Trade Organization to Protect Consumers & Law Firms with Strategic Vendor Partnerships

By Harry Moran |

Express Legal Funding, a leading provider of pre-settlement funding services, proudly announces the establishment of the Legal Funders for Actually Fair Funding (LFAFF), a coalition dedicated to safeguarding consumers and law firms through strategic vendor partnerships and ethical pre-settlement funding practices.

A New Standard in Legal and Consumer Protection
LFAFF aims to redefine the legal funding industry by championing fairness, transparency, and inclusivity. This new trade organization is committed to ensuring that injured claimants, regardless of their background, can access the financial support they need to cover their living costs while pursuing justice, and law firms benefit from reliable, transparent vendors to accelerate their growth.

"At Express Legal Funding, our commitment has always been to support both our clients and the legal community with integrity," said Aaron Winston, Author and Strategy Director at Express Legal Funding. "With the launch of LFAFF, we're taking this commitment to the next level by establishing a trusted alliance that prioritizes ethical standards and transparency in all legal service industry vendor partnerships, reducing overhead expenses and protecting law firms from wasted SEO and marketing costs."

Core Objectives of LFAFF

  • Industry Best Practices (B2C): Implement a higher standard for pre-settlement funding, providing plaintiffs access to financial resources without compromising their legal claims.
  • Law Firm Support (B2B): Providing law firms with access to pre-vetted, trustworthy vendors to enhance their practice and client service, with potential discounts for member firms.
  • Ethical Standards and Transparency: Promoting high ethical standards across all vendor partnerships, ensuring that the legal funding industry remains accountable and trustworthy.

Membership and Benefits
Expanding beyond the pre-settlement funding industry, LFAFF is open to law firms and vendors who are committed to upholding the organization's ethical standards and guidelines. Members will benefit from a network of like-minded professionals, access to exclusive resources, and the opportunity to contribute to the ongoing development of industry best practices.

About Express Legal Funding
Express Legal Funding is a nationally recognized and trusted pre-settlement funding company and brand based in Plano, Texas. As a premier provider of pre-settlement funding, it's dedicated to offering plaintiffs the financial support they need while they await the resolution of their cases. The company is committed to ethical practices and transparency, ensuring that its clients receive fair and equitable services.

About LFAFF
The Legal Funders for Actually Fair Funding (LFAFF) is a trade organization founded by Express Legal Funding to promote ethical standards, consumer protection, and strategic partnerships in the legal funding industry. LFAFF is committed to fostering a fair and transparent environment for both law firms and the consumers they serve.

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Consumer

Legal-Bay Pre-Settlement Funding Announces Funding for Fireworks Injuries and Building Explosions

By Harry Moran |

Legal-Bay LLC, the premier Pre Settlement Funding Company, reports that they are seeing an uptick in lawsuits against negligent pyrotechnicians and residential homeowners in the wake of the 4th of July holiday. Fireworks injuries and property damages join the escalating lawsuits that have been filed due to building explosions at gas stations, chemical plants, and oil refineries, falling under such categories as worker's comp, premises liability, personal injury, wrongful death, and beyond.  

Explosion lawsuits are filed more often than one would think. Whether in a place of business or a residential property, danger lurks for victims of others' negligence. Accidental gas leaks or faulty propane tanks are probably the most well-known type of house or building explosion, but sometimes, negligent installation by inexperienced workers or business owners looking to cut corners can lead to disaster. Likewise, if a person is injured or their property is damaged by fireworks—whether from a professional show or a neighbor's backyard—they are entitled to compensation.

Explosion payouts obviously vary depending on the severity of the damage caused and extent of injuries. Just last year, for example, a New Jersey man who suffered severe burns from an explosion while working on an electrical panel in 2019 sued his employer for gross negligence. The man was instructed to work on the electric panel even though he was not a licensed electrician. The resulting explosion inflicted burns over half of his body, requiring over 100 surgeries and a lifetime of future care. He was awarded $28MM for pain, suffering, and loss of ability to earn a salary.

Chris Janish, CEO of Legal-Bay, commented, "Extreme explosions can result in chemical burns, broken bones, and sometimes even death, not to mention the environmental impact and property damage that can occur. Legal Bay stands at the ready to assist victims of any type of explosion get the money they have coming to them."If you or a loved one was seriously injured or killed in an explosion, you may have grounds for a lawsuit. To apply for a cash advance lawsuit loan from your anticipated lawsuit settlement, please visit the company's website HERE or call 877.571.0405 where agents are standing by to hear about your specific case. 

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Consumer

Legal-Bay Lawsuit Funding Announces Increased Commitment to Product Liability Funding

Legal-Bay LLC, The Lawsuit Pre Settlement Funding Company, announced today their newfound focus on product liability claims for plaintiffs and lawyers involved in ongoing mass tort litigations. Due to increasing product liability lawsuit loan requests, Legal-Bay has committed more capital to secure even more specialized lawsuit funding for the law firms and plaintiffs out there with product liability cases due to their complex and time-consuming nature.

Legal-Bay's knowledge of product liability lawsuits and experience with mass tort litigations for various products and defective products makes them the leading lawsuit funding firm to call for a complex product defect case involving defective products or product rejection. This experience, as well as Legal-Bay's overall capital, gives them the reputation of the best lawsuit funding firm that exists today.

The lawsuit loan company's team of experts studies each national litigation, often leading the legal funding industry on which cases to begin funding. Many other lawsuit loan companies and lawsuit cash advance places and loan companies do not fund these types of cases due to the complex and time-consuming nature. However, this is just part of why Legal-Bay remains so committed to helping people who have suffered as a result of a defective surgical product or medical device gone wrong, including those that migrate in the body or cause other long-term damage.

If you are wondering what to do when a large corporation will fight your case or if a large corporation or company is fighting your claim, don't hesitate to contact Legal-Bay today. To learn more about product liability lawsuit funding, product liability lawsuit claim loans, product liability lawsuit money, or defective product settlement funding amounts, please visit our new product liability funding site, at: https://lawsuitssettlementfunding.com/product-liability.php 

Currently, Legal-Bay is expanding their product liability wing as they review various product liability cases and product liability class action suits with national law firms for legal funding options.

Below is a list of just some of the product liability mass tort cases that Legal-Bay's team is actively monitoring or has funded in the past:

  • IVC Filter
  • Hernia Mesh
  • Exactech Implant Recall
  • Hip Implants
  • Knee Implants
  • CPAP Recall
  • Birth Control
  • JUUL E-Cigarettes
  • J&J Talc Products
  • Round Up Weed Killer
  • Medical Devices
  • 3M Ear Plugs
  • Paraquat
  • Just For Men Hair Products
  • Chemical Hair Straightener Products
  • Essure Birth Control IUD
  • Permanent Makeup Claim
  • Eyebrow Tint Claim
  • Essure Birth Control IUD
  • Allergen or Saline or Silicone Breast Implants

Legal-Bay is currently reviewing and assessing case worth or proposed settlement amounts for many other bad products or defective products not listed above.

Chris Janish, CEO commented on today's announcement, "Legal-Bay has been built on product liability funding.  We are the leading and best mass tort funding company in the country, in my sincere opinion.  We work with the top lawyers on each specific litigation, and see cases and litigations from start to finish.  We are a guiding light for many victims who may need guidance on a product liability attorney to choose, and funding for surgical needs due to defective product or legal funding just to pay bills.  We do it all and take substantial risk—unlike most other litigation finance companies—to help our clients and law firms alike." 

To learn more, or to receive a free case evaluation on your bad product claim or defective product suit claim, or if you are looking for a product liability lawyer or product liability law firm please visit Legal-Bay's new website built for these types of claims at: https://lawsuitssettlementfunding.com/product-liability.php 

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