Updated on 3/26/2024
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Iowa. Below you will find the following information:
Lawsuit loan companies serving Iowa
Below you will find a list of companies that provide funding in Iowa. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.
Recommended lawsuit loan companies funding Iowa residents
We recommend the following companies for plaintiffs residing in Iowa.
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.
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.
See our full list of recommended companies here.
Lawsuit funding laws, regulation, and relevant ethics opinions in Iowa
Iowa does not have any state law regarding legal lending. Iowa common law indicates that champerty and maintenance doctrines do not apply but that courts will not enforce agreements contrary to the public good.
Legal funding case law in Iowa
Iowa law does not prohibit non-attorneys from engaging in maintenance and champerty, but case law states that Iowa courts will not uphold contracts that are contrary to justice and the peace and happiness of the community.
Source: Boardman v. Thompson
Can a lawyer lend money to a client in Iowa?
While an attorney cannot cover living expenses for a client, they can advance the costs of litigation or cover the costs completely. This is regulated by the Iowa Bar Association.
Source: Iowa Rules of Professional Conduct 1.8(e)
Can attorneys help clients receive lawsuit loans in Iowa?
Attorneys may not guarantee loans to clients. Standard funding agreements do not require an attorney’s guarantee.
Source: Iowa Rules of Professional Conduct 1.8(e)
Lawsuit loan alternatives in Iowa
Lawsuit loans are expensive. Plaintiffs in Iowa should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- Rent and Utility Assistance Program – can provide up to 12 months of rent or utility assistance. You will need to verify your income and risk of homelessness. Eligible participants must qualify for unemployment compensation benefits or demonstrate financial hardship.
- Food Banks in Iowa – get location and program information on food banks that service Iowa. Proof of residency may be required to participate.
- Get Help Paying For Food in Iowa – the Supplemental Nutrition Assistance Program (SNAP) can give you and your family access to nutritious foods to stay healthy. Your household size and income determine eligibility and benefit amount.