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News and analysis dedicated to the consumer legal funding sector including mass torts, regulatory issues, case developments, funding activities, and more.

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297 Articles
Announcements Consumer

Legal-Bay Lawsuit Funding Focusing On Wrongful Termination Cases

By John Freund |
NEW YORK, Nov. 7, 2019 /PRNewswire/ — Legal-Bay LLC, The Lawsuit Settlement Funding Company, reports today that they are focusing a large portion of their pre-settlement cash advance funding capital toward victims of wrongful termination due to racial, gender, or age-related discrimination. With the many payouts plaintiffs have received from the most recent court cases, Legal-Bay anticipates even more wrongful termination lawsuit filings to come.
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Announcements Consumer

Legal-Bay Settlement Funding Announces Extended Filing Deadline For Victims Of Sexual Abuse

By John Freund |
JERSEY CITY, N.J., Nov. 6, 2019 /PRNewswire/ — Legal-Bay LLC, The Lawsuit Pre Settlement Funding Company, reports a win for the victims of child sexual abuse at the hands of clergy members. After years of fighting, Governor Phil Murphy signed a law that offers victims of abuse the ability to sue their abusers up until they turn 55, or within seven years of their realization that the abuse caused them harm.
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Announcements Consumer

U.S. Claims Makes Further Inroads into $250B Market

By John Freund |

DELRAY BEACH, Fla., Nov. 5, 2019 /PRNewswire/ — DRB Financial Solutions, LLC (DRBfinancial.com), and its wholly-owned subsidiary U.S. Claims (USClaims.com), America’s premier pre-settlement funding company, today announced that U.S. Claims has closed on yet another private placement transaction.  This marks the company’s second litigation advance backed transaction of the year and DRB Financial’s fourth term securitization transaction involving this asset class overall.  It primes U.S. Claims to continue its run of impressive growth.

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Announcements Consumer

Multi Funding USA Receives Approval to Serve Ohio Legal Community

By John Freund |
Woodstock, NY—October 21, 2019 — Multi Funding USA, a leading pre-settlement funding provider serving law firms, attorneys and plaintiffs, announced that it has received authorization to provide pre-settlement funding to lawyers throughout the state of Ohio. Through its advanced and secure technology, attorneys can easily apply for litigation financing on Multi Funding USA’s secure website, and receive automated notifications, documentation, and funding in an expedited manner.
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Announcements Consumer

Baker Street Funding Secures $30 Million for New Attorney Focused Fund

By John Freund |

NEW YORK, NY / ACCESSWIRE / September 23, 2019 / A leading pre-settlement funding provider, Baker Street Funding LLC, announced today the closing of a series A round of investment into their Attorney Funding Division. Founded in 2018, Baker Street Funding has quickly become a rising star in the legal funding space and their core business model is to provide plaintiffs with much needed liquidity while their case is awaiting settlement. The newly named Attorney Funding Division will provide Attorney Funding to law practitioners across the country.

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Consumer

Divorce Funding Has Arrived

By John Freund |

Couples save for weddings, not divorces. As a result, many are cash-strapped and taken aback by the high costs of divorce. This places undue burden on attorneys, who must often choose between working on contingency or turning away clients. Fortunately, divorce attorneys can leverage divorce funding options, which allow receivables to be covered as they emerge. 

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Announcements Consumer

Modeso LLC Announces New Senior Credit Facility

By John Freund |

KATONAH, NY / ACCESSWIRE / October 1, 2019 / Modeso LLC dba RapidFunds (“RapidFunds” or the “Company”) announced today that it has closed on a $70 million term loan facility, consisting of a $40 million delayed draw term loan and $30 million accordion feature, with a multi-billion dollar institutional investment firm. This financing provides the Company a long-term capital partner to enable RapidFunds to grow its business and expand its network of law firm relationships.

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Announcements Consumer

Multi Funding USA Earns NMLS Certification

By John Freund |
Woodstock, NY—September 24, 2019 — Multi Funding USA, a leading pre-settlement funding provider serving law firms and attorneys, announced that it has received NMLS  (Nationwide Mortgage Licensing System and Registry) certification, indicating that the company has the financial resources and security protocols to satisfy the needs of lawyers and plaintiffs. Applying for NMLS certification is completely voluntary. Only a select group of litigation finance providers have applied and received NMLS designation.
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Announcements Consumer

Legal-Bay Announces that PG&E has Established a $105MM Fund to Pay for Negligence Claims in California Wildfires

By John Freund |
PARADISE, Calif., Sept. 9, 2019 /PRNewswire/ — Legal Bay Lawsuit Funding reports that as of last month, residents of northern California who have been displaced by the 2017 wildfires and 2018 Camp Fire can apply for aid through the Wildfire Assistance Program. The $105 million fund was approved by the judge during PG&E’s Chapter 11 case, and will be made available via the company’s cash reserves. It is intended to help the uninsured and/or anyone who needs financial assistance with housing costs or even daily living expenses while they rebuild their lives. Applications for funding are now open.
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Consumer Special Features

Put a Ring on it

By John Freund |
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.”
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Consumer

Court Orders Tom Girardi to Reveal Financials in Law Finance Claim

By John Freund |

Tom Girardi, of the eponymous law firm Girardi Keese, has been ordered to deliver to his financials to the court after he failed to pay $6MM of a $16MM settlement with Law Finance Group. Law Finance sued Girardi for failure to repay a $15MM loan, and eventually settled on the $16MM figure, only to claim that Girardi skipped out on the final $6MM payment.

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Announcements Consumer

Lawsuit Loans Market Growing Demand Rapidly 2019 With Major Players Oasis Legal Finance, Fair Rate Funding, High Rise Financial, LawCash, Mayfield Settlement Funding, Nova Legal Funding

By John Freund |
Lawsuit Loans Market Industry Research Report focuses Market Size, Share, Growth, Manufacturers and Forecast to 2026. This Market Research Report primarily based upon factors on which the companies complete in the market and this factor which is useful and valuable to the business. This report has published stating that the Global Lawsuit Loans Market is anticipated to expand significantly at Million US$ in 2019 and is projected to reach Million US$ by 2026, at a CAGR of during the forecast period.
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Announcements Consumer

Legal-Bay Pre Settlement Funding Focusing On IVC Filter Cases

By John Freund |
JERSEY CITY, N.J., July 17, 2019 /PRNewswire/ — Legal-Bay LLC, The Pre Settlement Funding Company, announced today that they continue to see a large volume of IVC filter patients needing cash advances. Top IVC filter manufacturers have recently lost bellwether trials, and Legal-Bay believes this could signal a shift toward settling pending cases within the upcoming months.
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Announcements Consumer

Defrauded Investor Hires Ileana Ros-Lehtinen to Help Enforce $6 Billion Award Against a Member of Qatar’s Ruling Family

By John Freund |
DOHA, Qatar, July 15, 2019 /PRNewswire/ — The Swifthold Foundation, which was defrauded by Sheikh Fahad Bin Ahmad bin Mohamed Bin Thani and his Qatari company, Fast Trading Group, today announced that it has hired Akin Gump, the international law firm, to help advise and obtain finality through enforcement of the Qatari court’s acknowledgment of the UK High Court judgment. The representation will be led by Ms. Ileana Ros-Lehtinen, Senior Advisor, Member of Congress (Ret) and former Chairwoman of the House Foreign Affairs Committee.
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Consumer Special Features

What Does it Mean to Live Paycheck to Paycheck?

By John Freund |
The following was contributed by Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC).  According to Investopedia: “Paycheck to paycheck is an expression used to describe an individual who would be unable to meet financial obligations if unemployed because his or her salary is predominantly devoted to expenses. Persons subsisting paycheck to paycheck have limited or no savings and are at greater financial risk if suddenly unemployed than individuals who have amassed a cushion of savings.”
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Announcements Consumer

Legal-Bay Lawsuit Funding Expanding Mass Tort Case Funding List

By John Freund |
LOS ANGELES, June 27, 2019 /PRNewswire/ — Legal-Bay, LLC, The Pre Settlement Funding Company, announced today that they will be expanding their list of mass tort lawsuits available for funding. Legal-Bay is known as one of the best lawsuit funding companies when it comes to mass tort cases. Legal-Bay works directly with most of the top mass tort law firms nationwide to provide the best pre-settlement cash advance rates for their clients, and have recently expanded their mass tort department to further provide funding for brokers across the country.
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Announcements Consumer

Legal-Bay Lawsuit Funding Announces 50″ HDTV Promotion for Month of July

By John Freund |
NEWARK, N.J., June 25, 2019 /PRNewswire/ — Legal-Bay Lawsuit Funding announced that they have recently broken their own record for presettlement funding last month. The premier lawsuit settlement funding company credits the increase in sales to their quick turnarounds, their effective marketing, and their talented team of underwriters who are able to offer the best customer service in the industry.
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Consumer Special Features

Why is There an Assault on the Poorest Amongst Us?

By John Freund |
This article was contributed by Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC). “Millions of Americans Are Just 1 Paycheck Away From ‘Financial Disaster’” was the title in a recent story in Barron’s. The article stated that 51% of working adults in the US would need to access savings to cover necessities if they missed more than one paycheck. That is the equivalent of over 78.2 million Americans.
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Announcements Consumer

Oasis Financial Selects New CEO

By John Freund |

Oasis Financial announces the appointment of Greg Zeeman as its new Chief Executive Officer. Zeeman takes over responsibilities from interim CEO, Jack Lavin. Oasis Financial is the nation’s leading provider of consumer litigation finance solutions to plaintiffs, attorneys, and medical providers through its Oasis and Key Health brands. Both Mr. Zeeman and Mr. Lavin will continue to serve on the company’s Board of Managers.

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Announcements Consumer

U.S. Claims Wins First Place in Two Categories in The Daily Report

By John Freund |
Delray Beach, FL, May 09, 2019 –(PR.com)– U.S. Claims (www.USClaims.com), America’s premiere pre-settlement funding company, was recently awarded the top ranking in two “Best Of” categories by readers of The Daily Report, a daily legal newspaper based in Atlanta, Georgia that covers Georgia legal and business news. U.S. Claims will be featured in the “Best Of Edition” of the Daily Report as first place winners, in “Best Consumer Litigation Funding Provider” and “Best Law Firm Funding Provider” categories.
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Consumer Special Features

The Case for Customized Solutions: One Size Does Not Fit All

By John Freund |
The following article was contributed by Michael Lohrer, Chief Technology Officer of Segue Cloud Services. When it comes to technology for the legal finance community, more often than not market solutions have been designed as pre-set software, produced to function in one particular fashion to address organizational processes or workflows. End-users are often encouraged to give feedback on desired changes and customization, but revisions to the finished product are difficult for developers to fulfill after-the-fact. A pre-determined GUI and set functionality doesn’t always accommodate the ongoing needs of the customer—particularly for those who hope to grow their practices.
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Announcements Consumer

Oasis Financial and Key Health Team Up with Los Angeles Trial Lawyers Charities

By John Freund |

Oasis Financial and Key Health Medical Solutions, sister companies focused on helping personal injury victims get pre-settlement funding and access to medical care, are proud to announce their support of the Los Angeles Trial Lawyers’ Charities (LATLC). The LATLC has served the greater Los Angeles community for 13 years, providing more than $4,400,000 in grants, gifts and goods to improve the quality of life in the community by supporting issues related to education, childhood hunger, survivors of abuse, persons with disabilities, and homelessness.

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