Updated on 12/28/2022
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 companies serving Vermont
Below you will find a list of companies that provide funding in Vermont. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.
Recommended lawsuit loan companies funding Vermont residents
We recommend the following companies for plaintiffs residing in Vermont.
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.
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].
Regional pre-settlement funding companies that serve Vermont 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.
- 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.
Other pre-settlement lawsuit loan companies serving Vermont residents
- 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.
- 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.
- 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.
- 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.
- 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.
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 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).