Updated on 12/28/2022
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.
Highly rated by consumers
Capital Now Funding is a Kentucky-based settlement advance company founded in 2015. They claim to offer a 45% fixed fee model with no interest. This could be advantageous for claimants expecting a lengthy legal claim.
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
- 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.
- Ally Lawsuit Loans – Ally Lawsuit Loans is affiliated with or closely related to Nova Legal Funding. They claim to be located in Houston, Texas.
- 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.
- 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.
- Momentum Funding – Headquartered in Florida, Momentum Funding focuses on personal injury and workers’ compensation lawsuit advances.
- 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.
- 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.
- 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.
- 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 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.