Updated on 12/17/2021
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Missouri. Below you will find the following information:
Lawsuit loan alternatives in Missouri
Lawsuit loans are expensive. Plaintiffs in Missouri should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- Temporary Assistance for Needy Families (TA) – TA is a monthly assistance program that helps families in need pay for necessities for their children, like clothing and utilities. Most people who use the TA program will also need to get employment and training services through the Missouri Work Assistance (MWA) Program.
- Low Income Home Energy Assistance – Missouri residents eligible for LIHEAP can use federally funded state programs like Energy Assistance (EA) and the Energy Crisis Intervention Program (ECIP).
- Subsidized Apartments and Public Housing – Missouri residents can use this website to explore their options for rent relief, guidance on eviction protections, and public housing voucher programs. Qualifications vary by program.
- Help With Utilities – a site that lists a variety of options, public and private, aimed at helping low-income Missouri residents understand and pay their utility bills. Eligibility requirements vary by program.
Lawsuit funding laws, regulation and relevant ethics opinions in Missouri
Missouri does not have any laws directly regulating lawsuit loan companies serving residents of the state. Missouri case law has upheld the common law prohibition of maintenance and champerty. Despite this, some funding companies still provide funding to MO residents.
Legal funding case law in Missouri
Missouri common law prohibits both champerty and maintenance. The most recent decision citing champerty is Macke Laundry Serv. L.P. v. Jetz Serv. Co. While the court agreed that lawsuits relating to champerty and maintenance are rare, champerty and maintenance doctrines remain in-force in Missouri.
Source: Macke Laundry Serv. L.P. v. Jetz Serv. Co.
Can a lawyer lend money to a client in Missouri?
A lawyer may advance only court costs and litigation expenses. Lawyers may not advance living expenses.
Source: Missouri Bar Administration Formal Opinion #119
Can attorneys help clients receive lawsuit loans in Missouri?
The committee came to the conclusion that legal funding may be champerous and therefore illegal.
Source: Missouri Litigation Loans Resources
Lawsuit loan companies serving Missouri
Recommended lawsuit loan companies funding Missouri residents
US Claims 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 US Claims. to see for yourself.
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 Missouri
Compare Lawsuit Loans does not currently cover any local lawsuit lending companies in Missouri. Local funding companies interested in being included on this page may contact us at [email protected]
Regional pre-settlement funding companies that serve Missouri residents
- Mustang Litigation Funding – Mustang Litigation Funding is 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.
- Oasis Financial – Oasis Financial is one of the largest pre-settlement lawsuit loan companies in the United States. Oasis has provided funding to more than 250,000 plaintiffs since 2003.
- Preferred Capital Funding – Preferred Capital claims to be the first pre-settlement funding provider in the US. They receive most of their business directly from referring attorneys.
Other pre-settlement lawsuit loan companies serving Missouri residents
- 5 Star Legal Funding
- Baker Street Funding
- Bridgeway Legal Funding
- Capital Now Funding
- Cherokee Funding
- Client Legal Funding
- Express Legal Funding
- Glofin Funding
- Momentum Funding
- National Lawsuit Funding
- Necessity Funding
- Nova Legal Funding
- Pegasus Legal Capital
- The Legal Funding Group
- Tribeca Capital Group