Updated on 7/27/2021
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Alaska. Below you will find the following information:
Lawsuit loan alternatives in Alaska
Lawsuit loans are expensive. In addition to budgeting, plaintiffs in Alaska should exhaust all alternative funding options before seeking legal funding. See below for a list of organizations and resources that can help residents of Alaska pay for living expenses such as rent, utilities, and food while they wait for their case to settle.
- Family Nutrition Programs – information on various programs including Women Infants and Children Program, Farmer’s Market Nutrition Program, SNAP-Ed, and Commodity Supplemental Food Program. Qualifications differ from program to program. Alaska residents may qualify for SNAP-Ed (formerly food stamps) if they have a total bank balance under $2,001 ($3,001 in certain circumstances).
- Rental Assistance Programs – help with rent for low-income Alaska residents. Families with earnings at or below 50 percent of regional average income may qualify for help with rent at their current residence. Public housing is available for families with earnings at or below 80% of regional average income.
Alaska Temporary Assistance Program (ATAP) – ATAP gives cash and work services to qualifying residents. Alaska residents with less than $2,000 in countable assets may qualify.
- Alaska Heating Assistance Program (LIHEAP) – federally funded program that helps low income Alaska residents with utility bills. To qualify, residents must meet income requirements that depend on household size. If you or a family member participates in other federally funded state benefit programs you might automatically qualify for LIHEAP.
Lawsuit funding laws, regulation and relevant ethics opinions in Alaska
In Alaska, neither statutory law nor common law address lawsuit lending agreements directly. Champerty and maintenance are public policy doctrines in Alaska. It is possible that these could apply to litigation funding contracts in Alaska. Most funding companies provide loans to Alaska residents.
Can a lawyer lend money to a client in Alaska?
The Alaska Bar Association prohibits lawyers from guaranteeing loans to clients. Though typically referred to as a lawsuit loan, pre-settlement funding is actually different from a true loan because repayment is contingent on the success of the case.
Source: Alaska Rules of Professional Conduct Rule 1.8(e)
Lawsuit loan companies serving Alaska
Recommended lawsuit loan companies funding Alaska residents
US Claims offers some of the lowest, non-compounding rates in the industry. Many companies claim to offer “the lowest rates in the industry” – we recommend comparing them against an offer from US Claims. to see for yourself.
Thrivest Link Legal Funding offers fair terms with a fast, efficient funding process. Many companies claim to offer same-day or 24-hour lawsuit loans but Thrivest Link Legal Funding often actually makes it happen.
Lawsuit loan companies located in Alaska
Compare Lawsuit Loans does not currently cover any local lawsuit lending companies in Alaska. Local funding companies interested in being included on this page may contact us at [email protected]
Other pre-settlement lawsuit loan companies serving Alaska residents
- Oasis Financial
- Glofin Funding
- Nova Legal Funding
- Golden Pear Funding
- Prime Case Funding
- National Lawsuit Funding
- Momentum Funding
- The Legal Funding Group
- Necessity Funding
- Cherokee Funding
- Signal Funding
- Case Cash Funding
- Bridgeway Legal Funding
- Pegasus Legal Capital
- Baker Street Funding
- Baric Enterprises
- Tribeca Capital Group
- Capital Now Funding