Updated on 8/9/2021
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Oklahoma. Below you will find the following information:
Lawsuit loan alternatives in Oklahoma
Lawsuit loans are expensive. Plaintiffs in Oklahoma should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- Rental and Housing Assistance in Oklahoma – rental help in Oklahoma includes subsidized apartments and Section 8 housing vouchers for residents who qualify based on income and resource requirements.
- Low Income Home Energy Assistance Program (LIHEAP) – LIHEAP offers assistance for home energy use in two forms: the first is Regular Energy Assistance Program (REAP), a non-crisis resource. The second is the Energy Crisis Assistance Program (ECAP), an emergency service available between March and May for those establishing new services or restore interrupted services.
- Temporary Assistance for Needy Families (TANF) – with help from TANF, families can receive temporary cash assistance on a limited-time basis, including Soonercare, a child care subsidy.
Lawsuit funding laws, regulation and relevant ethics opinions in Oklahoma
Oklahoma law requires registration with the state and certain disclosures in lawsuit loan contracts but stops short of placing a rate cap on legal funding transactions. Lawyers cannot provide loans for living expenses to their clients. Some lawsuit funding companies are registered with and fund in the state..
Laws regarding lawsuit loans in Oklahoma
Oklahoma’s statute regarding lawsuit loans (Consumer Litigation Funding Agreements) enforces disclosure requirements for lawsuit lending contracts. Oklahoma does not impose rate or fee caps on pre-settlement funding contracts. Lawsuit loan companies must be registered and licensed with the state to fund residents of Oklahoma.
Source: Consumer Litigation Funding Agreements
Can a lawyer lend money to a client in Oklahoma?
Clients in Oklahoma cannot receive loans from attorneys. Depending on the situation, an attorney can advance or even cover the costs of litigation on behalf of the client.
Source: Oklahoma Rules of Professional Conduct Rule 1.8(e)
Lawsuit loan companies serving Oklahoma
Recommended lawsuit loan companies funding Oklahoma 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.
Thrivest Link Legal Funding offers fair terms with a fast, efficient funding process. Many companies claim to offer same-day or 24-hour lawsuit loans but Thrivest Link Legal Funding often actually makes it happen.
Lawsuit loan companies located in Oklahoma
Compare Lawsuit Loans does not currently cover any local lawsuit lending companies in Oklahoma. Local funding companies interested in being included on this page may contact us at [email protected]