Updated on 2/29/2024
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 companies serving Missouri
Below you will find a list of companies that provide funding in Missouri. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.
Recommended lawsuit loan companies funding Missouri residents
We recommend the following companies for plaintiffs residing in Missouri.
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.
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 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.
- 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.
- 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.
Other pre-settlement lawsuit loan companies serving Missouri residents
- 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.
- 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.
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 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.