Updated on 8/16/2021
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Pennsylvania. Below you will find the following information:
Lawsuit loan alternatives in Pennsylvania
Lawsuit loans are expensive. Plaintiffs in Pennsylvania should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- Pennsylvania’s Compass Website – Several Programs – COMPASS, Pennsylvania’s benefits portal, provides access to numerous state-sponsored programs, including medical assistance, food supplement programs, community-based services, and cash assistance options.
- PA Cash Assistance Program (TANF) – available through COMPASS, Temporary Assistance for Needy Families (TANF) is a cash assistance program that supports low-income families, including pregnant women and households with dependent children. Qualifying families must have less than $1,000 in available resources.
- Low-Income Home Energy Assistance Program – this program provides access to home energy bill assistance. Annual program grants range from $200 to $1,000 based on factors like utility bill amount and household size.
Lawsuit funding laws, regulation and relevant ethics opinions in Pennsylvania
Common law in PA illustrates that third party litigation funding is legal. Communications with a third-party funder are also protected by attorney-client privilege. Most lawsuit funding companies provide advances to PA residents.
Legal funding case law in Pennsylvania
After what they thought to be an inadequate award, a plaintiff sought litigation funding to pursue an appeal. The defendant filed a motion for summary judgement as a result of this financing. The court decided that the agreement to finance the appeal was champertous and therefore invalid.
Source: WFIC, LLC v. LaBarr et. al.
Can a lawyer lend money to a client in Pennsylvania?
As stated in the Pennsylvania Bar Association, lawyers cannot grant funding to clients while representing them. Lawyers can advance court related costs, with contingent repayment based on the success of the case.
Source: Pennsylvania Rules of Professional Conduct Rule 1.8(e)
Can attorneys help clients receive lawsuit loans in Pennsylvania?
Provided that an attorney explains certain advantages and disadvantages of the lawsuit loan and associated review process to a client, they may assist clients with lawsuit lending arrangements.
Source: Philadelphia Bar Association Opinion 99-8
Lawsuit loan companies serving Pennsylvania
Recommended lawsuit loan companies funding Pennsylvania 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 Pennsylvania
- Peachtree Financial Solutions
- Thrivest Link Legal Funding
- National Lawsuit Funding
- Universal Funds
- Covered Bridge Capital
Other pre-settlement lawsuit loan companies serving Pennsylvania residents
- Oasis Financial
- Glofin Funding
- Nova Legal Funding
- LawStreet Capital
- Golden Pear Funding
- Prime Case Funding
- National Lawsuit Funding
- High Rise Financial
- Momentum Funding
- The Legal Funding Group
- Necessity Funding
- Cherokee Funding
- Signal Funding
- Case Cash Funding
- Bridgeway Legal Funding
- Pegasus Legal Capital
- Baker Street Funding
- Baric Enterprises
- Tribeca Capital Group
- Capital Now Funding