North Carolina (NC) Lawsuit Loans

Updated on 5/24/2022

This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in North Carolina. Below you will find the following information:

Lawsuit loan companies serving North Carolina

Below you will find a list of companies that provide funding in North Carolina. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.

Recommended lawsuit loan companies funding North Carolina residents

We recommend the following companies for plaintiffs residing in North Carolina.

Our pick for low rate lawsuit loans

US Claims - Litigation Funding Simplified

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.

View USClaims’ profile

Our pick for fast lawsuit settlement loans

Thrivest Link Legal Funding Logo

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.

View Thrivest Link Legal Funding’s profile

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.

View Capital Now Funding’s profile

Lawsuit loan companies located in North Carolina

  • 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.

Regional pre-settlement funding companies that serve North Carolina residents

  • Ally Lawsuit Loans – Ally Lawsuit Loans is affiliated with or closely related to Nova Legal Funding. They claim to be located in Houston, Texas.
  • 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. In most states, they offer pre-settlement funding with a 45% fixed-fee model. This could be advantageous for claimants expecting a lengthy legal claim.
  • 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.
  • 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.
  • USClaims – 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.

Other pre-settlement lawsuit loan companies serving North Carolina 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.
  • 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.
  • 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.
  • 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 $25 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.
  • 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 North Carolina

North Carolina treats lawsuit funding as a loan, subject to state lending laws.

Laws regarding lawsuit loans in North Carolina

North Carolina treats pre-settlement lawsuit funding as a loan and typical lending provisions apply as set forth in G.S. 24-1.1A. North Carolina sets the interest rate for loans of less than $25,000 as the minimum of 16% and the 6 Month Treasury Rate plus 6%. As a result, many lawsuit loan companies only advance amounts in excess of $25,000 to avoid these laws.
Source: North Carolina’s G.S. 24-1.1A

Legal funding case law in North Carolina

In Oliver v. Bynum the court ruled that an agreement to finance the suit was champertous based on the grounds that it served to stir-up litigation. Lawsuit loan agreements that are not construed to stir-up or intermeddle with litigation would likely be upheld in NC.
Source: Oliver v. Bynum

Can a lawyer lend money to a client in North Carolina?

North Carolina attorneys may not provide financial assistance to plaintiffs they represent. They may, however, finance court costs and other costs of litigation.
Source: North Carolina Rules of Professional Conduct Rule 1.8(e)

Can attorneys help clients receive lawsuit loans in North Carolina?

The state bar of North Carolina has ruled that a lawyer may cooperate with lawsuit lending companies in connection with a client’s request for funding. Attorneys may: sign off on acknowledgment letters; make payments to the pre-settlement funding company; refer clients to a funding company; and disclose confidential information to the company with the client’s consent.
Source: North Carolina State Bar 2000 Formal Ethics Opinion #4: Acknowledging a Finance Company’s Interest in a Client’s Recovery

Lawsuit loan alternatives in North Carolina

Lawsuit loans are expensive. Plaintiffs in North Carolina should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas: