Updated on 3/26/2024
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Massachusetts. Below you will find the following information:
Lawsuit loan companies serving Massachusetts
Below you will find a list of companies that provide funding in Massachusetts. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.
Recommended lawsuit loan companies funding Massachusetts residents
We recommend the following companies for plaintiffs residing in Massachusetts.
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 Massachusetts
Massachusetts allows legal funding. The common law doctrines of maintenance and champerty were abolished by the courts in 1997. Most national funding companies provide lawsuit loan services to plaintiffs in MA.
Legal funding case law in Massachusetts
Lisa Saladini advanced George Righellis funds in order to pursue his case, repayment of which was based on success of his case. He won the case however failed to inform Saladini about the win and did not pay her back. The court initially decided that the contract could not be enforced. However the state of Massachusetts found that champerty was abolished and took another look at the case.
Source: Lisa Saladini v. George P. Righellis
Can a lawyer lend money to a client in Massachusetts?
In Massachusetts. lawyers can advance any court related fee or expense till the end of the trial, repayment of which is based on the outcome of the case. Otherwise, the attorney cannot grant financial assistance to clients.
Source: Massachusetts Rules of Professional Conduct 1.8(e)
Lawsuit loan alternatives in Massachusetts
Lawsuit loans are expensive. Plaintiffs in Massachusetts should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- Economic assistance (cash benefits, TAFDC/EAEDC) – TAFDC and EAEDC are cash benefit programs that provide financial assistance to families with dependent children, the elderly, and people with disabilities. Support can be in the form of direct cash payments, subsidizing health insurance, or helping pay for education.
- Help With Housing, Rent, and Security Deposits – a list of resources that Massachusetts residents can use to get help paying rent, finding affordable housing, or getting set up in a new residence.
- Massachusetts Office on Disability (MOD) – use this page to explore some of the options for people who need to supplement their income for a variety of reasons. Programs include Paid Family and Medical Leave (PFML) and Social Security Disability Insurance (SSDI).
- Department of Transitional Assistance (DTA) – Massachusetts’ DTA helps low-income residents who are unable to work for at least 60 days with temporary assistance