Updated on 12/17/2021
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Mississippi. Below you will find the following information:
Lawsuit loan alternatives in Mississippi
Lawsuit loans are expensive. Plaintiffs in Mississippi should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- Mississippi’s Supplemental Nutritional Assistance Program (SNAP) – Mississippi’s Supplemental Nutrition Assistance Program (formerly the food stamp program) provides benefits every month to low-income households. This support can help them buy food that supports good nutrition. Benefits depend on income and household size.
- Temporary Assistance for Needy Families (TANF) – this program offers temporary cash assistance to Mississippi residents across the state. Primary eligibility requirements include being a legal MS resident with a dependent child and being below a certain income level.
- Mississippi Low-Income Child Care Initiative – the MLICCI is a statewide non-profit that connects parents in need with programs and assistance in caring for their children. This includes helping single parents with job training and assisting in the application process to receive state aid.
Lawsuit funding laws, regulation and relevant ethics opinions in Mississippi
Mississippi statutory law effectively prohibits lawsuit loans. Case law has upheld this prohibition. Few settlement funding companies operate in the state because of this.
Laws regarding lawsuit loans in Mississippi
Mississippi Code Title 97. Crimes § 97-9-11. Maintenance and certain actions involving legal proceedings unlawful. Mississippi law prohibits lawsuit lending in the state on the basis of champerty and maintenance doctrines.
Source: Mississippi Code Title 97. Crimes § 97-9-11. Maintenance and certain actions involving legal proceedings unlawful
Legal funding case law in Mississippi
In Sneed v. Ford Motor Co. the court decided that valid assignments must avoid champerty. Champerty is prohibited by state law in MS.
Source: Sneed v. Ford Motor Co.
Can a lawyer lend money to a client in Mississippi?
In Mississippi, in order to avoid settling because of financial hardship, a lawyer can reasonably cover medical and living expenses for a client.Repayment for this funding would be contingent on the success of the case.
Source: Mississippi Rules of Professional Conduct 1.8(e)
Lawsuit loan companies serving Mississippi
Recommended lawsuit loan companies funding Mississippi residents
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 loan companies located in Mississippi
Compare Lawsuit Loans does not currently cover any local lawsuit lending companies in Mississippi. Local funding companies interested in being included on this page may contact us at [email protected]
Regional pre-settlement funding companies that serve Mississippi residents
- Baric Enterprises – Florida-based Baric Enterprises, Inc. provides non-recourse personal injury loans as well as several kinds of insurance and retirement planning services.
- Capital Now Funding – Capital Now Funding is a Kentucky-based settlement advance company founded in 2015. They claim to offer a fixed fee model with no interest. They claim that their fees vary from state to state.
- 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.
- 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.
- 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 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.