Updated on 6/9/2021
This article helps plaintiffs and attorneys alike learn more about lawsuit loans in Arkansas. Below you will find the following information:
Lawsuit funding laws, regulation and relevant ethics opinions in Arkansas
Arkansas state law regulates lawsuit lending and imposes a rate cap. Despite this, some funding companies do claim to provide lawsuit loans to Arkansas.
Laws regarding lawsuit loans in Arkansas
See AR Code § 4-57-109 (2015). Arizona regulates consumer lawsuit lending and imposes the maximum interest rate set by the Arkansas Constitution which states that “The maximum lawful rate of interest… shall not exceed seventeen percent (17%) per annum” (Arkansas Constitution of 1874 Amendment 89, § 3)
Source: AR Code § 4-57-109 (2015)
Can a lawyer lend money to a client in Arkansas?
The Arkansas Bar does not allow lawyers to grant financial assistance to clients under any circumstance. In some cases, the attorney is allowed to advance the costs of litigation. Additionally, if the client is impoverished, the attorney can cover litigation costs.
Source: Arkansas Rules of Professional Conduct Rule 1.8(e)
Lawsuit loan companies serving Arkansas
Recommended lawsuit loan companies funding Arkansas residents
Compare Lawsuit Loans’ recommended funding companies do not operate in Arkansas at this time
Lawsuit loan companies located in Arkansas
Compare Lawsuit Loans does not currently cover any local lawsuit lending companies in Arkansas. Local funding companies interested in being included on this page may contact us at [email protected]
Other pre-settlement lawsuit loan companies serving Arkansas residents
Compare Lawsuit Loans does not currently cover any other funding companies serving Arkansas. Funding companies interested in being included here may contact us at [email protected]