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  • Lawsuit Loans in Nebraska

    2/17/20119:17:08 PM Link 0 comments | Add comment

    Accident Injury, claim, insurance, Lawsuit loan, lawyer, personal injury

     

    Loans with as much as 100% in interest rates made to individuals in dire circumstances with no other options for money. This might sound like the beginning of a white collar crime story; maybe an excerpt from a Michael Milken or Bernie Madoff memoir, but it’s not. This is a true story about real loans allowed in places such as Nebraska where injured plaintiffs are often taken advantage of by investors looking to capitalize on another person’s personal injury claim. Injury settlements can take years, injury lawsuits take even longer. Often times when a person is significantly injured, such as in a severe car crash, they may end up with thousands of dollars in medical bills and weeks, if not months, off from work. For many this can result in huge financial problems and extreme desperation. With bar regulations forbidding injury attorneys from loaning clients money and nowhere else to turn, clients turn to the one place they have access to money to keep their heat on, buy groceries and fill their car with gas. They turn to lawsuit lending companies. These companies are a necessary evil to help provide cash flow for persons injured in car accidents, motorcycle accident or any other type of personal injury accident. The problem is the industry is loosely, if at all, regulated; and many injured victims end up owing their entire injury settlement to the lawsuit lending company. Long story short, do not borrow form a lawsuit finance company unless you have absolutely no other option. Here is a good article from the New York Times that discusses lawsuit loans in more detail: “Lawsuit Loans Add New Risk for the Injured”

     

     

     

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