Updated on 12/7/2023
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in South Dakota. Below you will find the following information:
Lawsuit loan companies serving South Dakota
Below you will find a list of companies that provide funding in South Dakota. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.
Recommended lawsuit loan companies funding South Dakota residents
We recommend the following companies for plaintiffs residing in South Dakota.
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.
Our pick for fast lawsuit settlement loans
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.
Highly rated on Google
High Rise Financial is a California-based lawsuit loan company. They have the most five-star reviews of any funding company in the industry. In addition to pre-settlement funding, High Rise provides medical care scheduling and financing services.
Lawsuit loan companies located in South Dakota
Compare Lawsuit Loans does not currently cover any local lawsuit lending companies in South Dakota. Local funding companies interested in being included on this page may contact us at [email protected].
Regional pre-settlement funding companies that serve South Dakota 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.
Other pre-settlement lawsuit loan companies serving South Dakota 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.
- 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.
- Golden Pear Funding – Golden Pear Funding is one of the largest lawsuit funding companies in the US. They are primarily focused on funding plaintiffs residing in New York. Since 2008, they have extended more than $600 million in funding.
- 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.
- Signal Funding – Florida-based Signal Funding claims to provide $500 to $500,000 in pre-settlement funding with same-day service. They provide funding to injured plaintiffs nationwide. Signal Funding has solid reviews on Google but a less impressive reputation on Yelp.
- 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 South Dakota
South Dakota common law indicates that champerty doctrines would likely be upheld – that means that lawsuit lending agreements could be challenged in court. There are no statutory laws regarding litigation funding and pre-settlement funding is not currently regulated as a loan in South Dakota. Despite the issues with SD common law, many funding companies still provide funding in the state.
Legal funding case law in South Dakota
Unruh Chiropractic Clinic v. De Smet Insurance Co., a chiropractor provided treatment on lien to two patients. Despite being notified of the lien, the insurance company paid out money to the patients without paying the chiropractor. Unruh sued and their case was dismissed on the grounds of common law maintenance and champerty.
Source: Unruh Chiropractic Clinic v. De Smet Insurance Co.
Can a lawyer lend money to a client in South Dakota?
It is not unethical for attorneys in New Hampshire to help clients get funding. They must however be aware of any potential risks.
Source: South Dakota Rules of Professional Conduct Rule 1.8(e)
Lawsuit loan alternatives in South Dakota
Lawsuit loans are expensive. Plaintiffs in South Dakota should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- South Dakota Medicaid – Medicaid is a federal program offering health insurance to needy individuals without alternative options. In South Dakota, eligibility depends on income and life circumstances.
- South Dakota Temporary Assistance For Needy Families (TANF) – Temporary Assistance for Needy Families (TANF) in South Dakota is a need-based program for families with minor children in need of support due to the death, absence, or disability of a parent or caretaker.
- SD Supplemental Nutrition Assistance Program (SNAP) – SNAP provides monthly stipends toward the purchase of food items in South Dakota for qualifying households.
- Rental Assistance – Rental assistance programs in South Dakota include Section 8 housing options, housing choice vouchers, USDA 515 rural development funding, and housing tax credits.