Lawsuit Loans......

[Tom [Giants fan]]

Being that I have a pending lawsuit that I am virtually guaranteed to get a decent settlement for because the other driver admitted the accident was her fault, I recently heard of something called a lawsuit loan. I admit, like a lot of people I am struggling financially so I figured if I could get some cash now for a reasonable rate I would do it and get some later on while understanding I would have to
give up more than I borrowed. When I looked into this kind of a "loan", I was amazed at what they charged people. One guy borrowed $9,185 against his lawsuit and 18 months later after he received $27,000 after lawyer fees had to pay back $24,000. I understand that these loan places are taking a risk that you won't win the case but if you lend money to people who don't win, you obviously aren't running your business right. And I read that 47% of the people they lend to don't win or something like that. So they make up for it on the people who do win.



These loans aren't regulated by the government although they may be soon in some way.



Needless to say, I'll just wait until my case is settled or there is a trial.

[Springfield]

Sounds like a scam.

I'd hold out for a big payday tomorrow instead of a small payday today.

[chipwhich]

Any loan against future income/awards/inheritance/whatever is an jackpot for the person doing the loan.  It's sad people end up in financial hardship so bad that they have to get robbed by these people.  The rich get richer.

[WakkaWakka]

Be wary of those whose fortune is tied to the misfortune of others. This is a PSA to all of Redskins Nation. Please, please, please avoid title pawns, payday loans, lawsuit loans, etc. They're betting/want you to lose.