Florida (FL) Lawsuit Loans

Updated on 2/29/2024

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

Lawsuit loan companies serving Florida

Below you will find a list of companies that provide funding in Florida. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.

Recommended lawsuit loan companies funding Florida residents

We recommend the following companies for plaintiffs residing in Florida.

Our pick for low rate lawsuit loans

USClaims 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 USClaims to see for yourself.

View USClaims’ profile

Our pick for fast lawsuit settlement loans

Thrivest Link Legal Funding offers reasonable funding terms often with simple, non-compounding rates. Their expert underwriting allows them to fund larger sums than many of their competitors. They frequently approve claims for funding within 24 hours.

View Thrivest Link Legal Funding’s profile

Highly rated on Google

High Rise Financial is a California-based lawsuit loan company. They have the most five-star reviews of any funding company in the industry. In addition to pre-settlement funding, High Rise provides medical care scheduling and financing services.

View High Rise Financial’s profile

Lawsuit loan companies located in Florida

  • Signal Funding – Florida-based Signal Funding claims to provide $500 to $500,000 in pre-settlement funding with same-day service. They provide funding to injured plaintiffs nationwide. Signal Funding has solid reviews on Google but a less impressive reputation on Yelp.
  • USClaims – USClaims 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 USClaims to see for yourself.

Regional pre-settlement funding companies that serve Florida residents

  • Cherokee Funding – Georgia-based Cherokee Funding provides pre-settlement and post-settlement plaintiff and attorney funding. They claim to fund almost all types of legal cases, so long as there is solid liability, damages, and a defendant with the ability to pay.

Other pre-settlement lawsuit loan companies serving Florida residents

  • Golden Pear Funding – Golden Pear Funding is one of the largest lawsuit funding companies in the US. They are primarily focused on funding plaintiffs residing in New York. Since 2008, they have extended more than $600 million in funding.
  • Mustang Litigation Funding – Mustang Litigation Funding is a relatively new but quickly growing lawsuit funding company based in Minnesota. They have provided more than $50 million in funds to plaintiffs and attorneys since 2018.
  • Nova Legal Funding – Nova Legal Funding is a direct funder and broker of lawsuit loans based in Los Angeles. They claim to have provided more than $70 million of pre-settlement funding to plaintiffs.
  • Oasis Financial – Oasis Financial is one of the largest pre-settlement lawsuit loan companies in the United States. Oasis Financial has provided funding to more than 250,000 plaintiffs since 2003.
  • Preferred Capital Funding – Preferred Capital Funding claims to be the first pre-settlement funding provider in the US. They receive most of their business directly from referring attorneys.

Lawsuit funding laws, regulation, and relevant ethics opinions in Florida

Florida has a pending bill that seeks to regulate lawsuit loans in the state. The bill would allow the Florida Department of State to regulate the industry. Florida case law has upheld lawsuit lending agreements where the lender did not interfere with or direct the litigation. The Florida Bar allows lawyers to honor a client’s assignment of proceeds from their case to a lawsuit cash advance company but disallows lawyers from issuing a letter of protection to the company. Most legal funding companies provide their services to Florida residents and many use an alternate acknowledgment letter that complies with Florida Bar’s position on lawsuit loans.

Laws regarding lawsuit loans in Florida

See FL SB 7041 (2021). The Florida house proposed to “require litigation financiers to register with DOS & file surety bond; provides requirements & rulemaking authority for DOS; provides requirements for litigation financing contracts; provides for assignment of contingent rights to civil action or claim proceeds; specifies the priority of liens; authorizes litigation financiers to assess specified interest, fees, & charges; provides that violations are deceptive & unfair trade practices.” The bill died in the house.
Source: FL SB 1750 – Litigation Financing Consumer Protection

Legal funding case law in Florida

In Kraft v. Mason the appellate court affirmed the stance that the agreement between Kraft (borrower) and Mason (lender) was not champertous. The court indicated that Mason had not interfered with nor stirred up litigation.
Source: Kraft v. Mason

Can a lawyer lend money to a client in Florida?

A Florida attorney cannot grant plaintiffs financial assistance. However, they can advance litigation expenses. Advanced expenses are only repaid if the case is successful.
Source: Florida Bar Ethics Opinion 96-1

Can attorneys help clients receive lawsuit loans in Florida?

Attorneys may give clients information about non-recourse funding companies to meet their financial needs.
Source: Florida Bar Ethics Opinion 00-3

Lawsuit loan alternatives in Florida

Lawsuit loans are expensive. Plaintiffs in Florida should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:

  • Temporary Cash Assistance – is available to families with children under 18 (or 19 if enrolled in high school full-time) that meet income requirements. Participation is limited to 48 months as an adult. You may be required to enroll in a work program or complete qualifying work activities.
  • Section 8 and Subsidized Housing in Florida – includes options for low-cost public housing as well as how to apply for a housing voucher to assist with paying your rent.
  • Florida Food Banks – Feeding Florida – visit this website to find a list of food banks and locate one that services your area. You may need to verify your residency to participate in this program.
  • Help Paying For Utilities in Florida – if you need assistance to help pay for home heating and cooling, LIHEAP can help. You will need to provide proof of income and residency to determine eligibility.