Updated on 12/28/2022
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Louisiana. Below you will find the following information:
Lawsuit loan companies serving Louisiana
Below you will find a list of companies that provide funding in Louisiana. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.
Recommended lawsuit loan companies funding Louisiana residents
We recommend the following companies for plaintiffs residing in Louisiana.
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.
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.
Lawsuit loan companies located in Louisiana
Compare Lawsuit Loans does not currently cover any local lawsuit lending companies in Louisiana. Local funding companies interested in being included on this page may contact us at [email protected].
Regional pre-settlement funding companies that serve Louisiana residents
- Ally Lawsuit Loans – Ally Lawsuit Loans is affiliated with or closely related to Nova Legal Funding. They claim to be located in Houston, Texas.
- Capital Now Funding – Capital Now Funding is a Kentucky-based settlement advance company founded in 2015. In most states, they offer pre-settlement funding with a 45% fixed-fee model. This could be advantageous for claimants expecting a lengthy legal claim.
- 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.
- Client Legal Funding – Florida-based Client Legal Funding was founded in 2011. They offer pre-settlement funding, post-settlement funding, medical funding, and attorney funding services.
- Glofin Funding – Founded in 2002, Glofin Funding is one of the longest-standing providers of personal injury funding in the United States. They serve plaintiffs nationwide with a few exceptions.
- Liberty Settlement Funding – Liberty Settlement Funding is a Florida-based lawsuit settlement funding company serving plaintiffs nationwide.
- Momentum Funding – Headquartered in Florida, Momentum Funding focuses on personal injury and workers’ compensation lawsuit advances.
- 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.
- The Legal Funding Group – Based in Savannah, Georgia, The Legal Funding Group provides lawsuit cash advances nationwide. On their website, they quote a rate of 36% every six months.
- 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.
Other pre-settlement lawsuit loan companies serving Louisiana residents
- 5 Star Legal Funding – 5 Star Legal Funding is based in New York and was founded in 2006. They advertise simple, non-compounding rates and capped repayment terms.
- Baker Street Funding – Baker Street Funding is a relatively new personal injury case funding company based in New York. Despite the company’s age, they are growing very quickly. They claim to provide rates between 1.5% and 3.4%, compounding monthly.
- Bridgeway Legal Funding – Bridgeway Legal Funding offers reasonable rates and fast processing of workers’ compensation lawsuit loans. Workers’ compensation funding is typically only available in states in which an attorney controls the settlement proceeds.
- Case Cash Funding – Case Cash Funding is a New York lawsuit lending company that claims to provide advances at 2.99%, compounded monthly with a $100 processing fee and a delivery fee ranging from $0 to $99.
- 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.
- Pegasus Legal Capital – Pegasus Legal Capital provides non-recourse lawsuit settlement funding to plaintiffs nationwide. They claim to provide approvals within four to six hours from receiving documentation from your law office.
- 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.
- Prime Case Funding – Prime Case Funding is a legal funding provider located in New York. They have exceptional online reviews and quote a rate of 2.75% compounded monthly on their website.
- Triumph Legal Funding – New Jersey’s Triumph Legal Funding offers competitive rates and fast, friendly service. Triumph favors rolling contracts with pre-approved monthly funding amounts to help clients budget and offer peace of mind throughout the course of their lawsuit.
Lawsuit funding laws, regulation, and relevant ethics opinions in Louisiana
Louisiana statutory law prohibits the sale and assignment of claims to officers of the court but otherwise allows the practice. The Louisiana Bar does not opine specifically on lawsuit lending but does allow lawyers to guarantee or secure loans to clients with specific rate limitations.
Laws regarding lawsuit loans in Louisiana
LA Civ Code 2447 prohibits the sale or assignment of claims to officers of the court but does not otherwise prohibit the sale and assignment of claims to other parties.
Source: LA Civ Code 2447
Legal funding case law in Louisiana
The court asserted in Martin v. Morgan Drive Away, Inc. that as Louisiana is a civil law jurisdiction, it does not apply common law champerty and maintenance doctrines. The court referenced LA Civ Code 2447 (above) and clarified that state law does not prohibit the sale and assignment of claims to those who are not officers of the court.
Source: Martin v. Morgan Drive Away, Inc.
Can a lawyer lend money to a client in Louisiana?
Lawyers in Louisiana can advance the costs of litigation on behalf of a client that will have to be repaid if the case is successful. However, an attorney cannot help with living expenses.
Source: Louisiana Rules of Professional Conduct 1.8(e)
Can attorneys help clients receive lawsuit loans in Louisiana?
Lawyers may provide a guarantee or security on a loan to a client in the event that the rate charged does not exceed 10% above the prime rate.
Source: Louisiana Rules of Professional Conduct 1.8(e)
Lawsuit loan alternatives in Louisiana
Lawsuit loans are expensive. Plaintiffs in Louisiana should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- Get Help Paying for Utilities in Louisiana – LIHEAP is a state-sponsored program that helps Louisiana residents get discounts on their utility bills. To qualify, household income has to be under 60% of state median levels.
- Get Help With Affordable Housing in Louisiana – the Louisiana Balance of State Continuum of Care (BOSCOC) helps people who are homeless or in danger of becoming homeless find resources in their area.
- Northwest Louisiana Food Banks – website that helps residents of the Northwest region of Louisiana find nearby food banks. May require proof of residency.
- Northeast Louisiana Food Banks – website that helps residents of the Northeast region of Louisiana find nearby food banks. May require proof of residency.
- South Louisiana Food Banks – website that helps residents of the Southern region of Louisiana find nearby food banks. May require proof of residency.
- Central Louisiana Food Banks – website that helps residents of the Central region of Louisiana find nearby food banks. May require proof of residency.