Updated on 8/16/2021
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Vermont. Below you will find the following information:
Lawsuit loan alternatives in Vermont
Lawsuit loans are expensive. Plaintiffs in Vermont should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- Vermont Benefits Portal – the Vermont Benefits Portal offers comprehensive access to applications for all benefits programs, including medical care, food purchase supplements, crisis fuel aid, child care subsidies, farm-to-family food programs, and housing assistance.
- Food Assistance Program – available through the Vermont Benefits Portal, Vermont’s food assistance program, 3SquaresVT, provides aid to families who earn the VT Earned Income Credit or earn 185% of the Federal Poverty Level.
- Childcare Financial Assistance – this program helps families pay for childcare based on a sliding fee scale. Those with little to no income may have care covered in full, while others may have care covered in part.
- Utilities Assistance – this program offers fuel assistance during the winter months for Vermonters who earn up to 200% of the federal poverty level.
- Housing and Rental Payment Assistance – in Vermont, housing assistance programs include CARES Housing Vouchers, Family Supportive Housing (FSH) stipends, the Housing Opportunity Grant Program (HOP), the Family Unification Program (FUP), and shelter under the Emergency Housing Initiative (EHI).
Lawsuit funding laws, regulation and relevant ethics opinions in Vermont
Vermont state law regulates lawsuit loans and requires certain disclosures in pre-settlement funding agreements. The state does not enforce a specific interest rate cap on lawsuit loans. Few lawsuit loan companies provide pre-settlement funding to residents of VT.
Laws regarding lawsuit loans in Vermont
Chapter 74 of Vermont’s Sec. A.1. 8 V.S.A. “Consumer Litigation Funding Companies” requires licensure of lawsuit lending companies. Pre-settlement lawsuit loan contracts must disclose several items including fees, APR, and a payback schedule. Vermont also requires the right cancellation.
Source: Consumer Litigation Funding Companies
Can a lawyer lend money to a client in Vermont?
Vermont attorneys cannot grant financial assistance for clients while they are representing them.
Source: Vermont Rules of Professional Conduct Rule 1.8(e)
Lawsuit loan companies serving Vermont
Recommended lawsuit loan companies funding Vermont 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.
Lawsuit loan companies located in Vermont
Compare Lawsuit Loans does not currently cover any local lawsuit lending companies in Vermont. Local funding companies interested in being included on this page may contact us at [email protected]