Colorado (CO) Lawsuit Loans

Updated on 6/9/2021

This article helps plaintiffs and attorneys alike learn more about lawsuit loans in Colorado. Below you will find the following information:

Lawsuit funding laws, regulation and relevant ethics opinions in Colorado

Colorado common law dictates that lawsuit loans are traditional loans subject to Colorado’s UCCC. Interest rate caps apply to advances under $75,000. Few funding companies provide advances in Colorado for amounts less than $75,000 and few cases qualify for advances in excess of $75,000.

Laws regarding lawsuit loans in Colorado

The Colorado UCCC indicates that it pertains to advances under $75,000 (C.R.S. 5-1-301) and limits interest rate charges to the maximum of the following interest rate schemes “a” and “b”: “(a) The total of (I) Thirty-six percent per year on that part of the unpaid balances of the amount financed that is one thousand dollars or less; (II) Twenty-one percent per year on that part of the unpaid balances of the amount financed that is more than one thousand dollars but does not exceed three thousand dollars; and (III) Fifteen percent per year on that part of the unpaid balances of the amount financed that is more than three thousand dollars.” and “(b) Twenty-one percent per year on the unpaid balances of the amount financed.” (C.R.S. 5-2-201)
Source: Colorado Revised Statutes Title 5 – Consumer Credit Code

Legal funding case law in Colorado

Oasis Legal Fin. Group, LLC v. Suthers was an appeal of the courts decision that Oasis Legal Fin. Group’s (now Oasis Financial) and Plaintiff Funding Holding’s (DBA LawCash) advances were loans. The appellate court upheld this ruling. Pre-settlement funding in South Carolina is regulated as a loan and subject to Colorado’s UCCC.
Source: Oasis Legal Finance Group LLC v. Coffman

Can a lawyer lend money to a client in Colorado?

In Colorado, attorneys cannot grant any funding to plaintiffs, even in emergency situations.
Source: Colorado Rules of Professional Conduct Rule 1.8(e)

Can attorneys help clients receive lawsuit loans in Colorado?

While Colorado lawyers may not make nor guarantee loans to clients, most legal lending contracts do not require a guarantee by a lawyer.
Source: Colorado Rules of Professional Conduct Rule 1.8(e)

Lawsuit loan companies serving Colorado

Recommended lawsuit loan companies funding Colorado residents

US Claims Logo

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.

View US Claims’ profile

Lawsuit loan companies located in Colorado

Compare Lawsuit Loans does not currently cover any local lawsuit lending companies in Colorado. Local funding companies interested in being included on this page may contact us at [email protected]

Other pre-settlement lawsuit loan companies serving Colorado residents