Lawsuit Financial is pleased to announce that what was formerly known as House Bill 248 has been passed by both the House and the Senate in Ohio and was signed by Governor Strickland in May 2008. This bill, at long last, makes lawsuit funding available to the injured and disabled citizens of Ohio who, through no fault of their own, are struggling to make ends meet because of their injuries or disabilities.
Key features of the new law are as follows:
1. Law suit funding contracts may be canceled by the consumer within five business days without penalty;
2. Legal finance contracts must provide the total dollar advance and a breakdown of fees, including the annualized rate of return, must be clearly disclosed in the contracts;
3. To be valid, the legal financing contract requires written acknowledgment by the attorney representing the consumer in the civil action or claim, specifying that the attorney has reviewed the contract and all case funding costs and fees have been disclosed;
4. For French and Spanish-speaking consumers, litigation funding contracts will be written in their primary language;
This well-reasoned legislation is certainly a welcome change in Ohio law. Seriously injured or disabled Ohio citizens can now participate in a non-recourse funding service that provides needed financial assistance for litigants who have little opportunity to qualify for traditional loan products. The legislation protects consumers by providing guidelines for legal funding companies to follow when providing financial relief for plaintiffs in need; it provides the injured or disabled consumer with the vital option to use litigation funding when necessary to help pay necessary bills and expenses.
So, Ohio Citizens and Ohio trial lawyers, call us, let us be the first to introduce you to law suit funding. Let Lawsuit Financial live up to its reputation of providing in the best service in the legal finance industry. We are here to assist you in your time of need; we provide toll free service at 1-877-377-SUIT (7848) and absolutely free advice over the phone or on the world wide web. Citizens of Ohio (and all other US citizens): Lawsuit Financial can assist you with a non-recourse cash advance, collateralized only by your pending lawsuit. If the lawsuit is successful we are repaid our case invested principal and risk adjusted profit out of case proceeds. If the case fails, we lose our money. If the case resolves at significantly less than predicted case value, we provide an appropriate compromise. The goal of lawsuit financing is to get the litigant through the litigation, without having pressing bills and expenses effect the value of their case. Someone desperate for money will, almost always, settle his/her case for less than appropriate value. Strategic lawsuit financing will often prevent this from happening and will, in this scenario, pay for itself with increased case proceeds.
Lawsuit Financial provides litigation funding for Auto Accident cases, Premises Liability cases, Medical Malpractice cases and all other personal injury victims with pending lawsuits. Call us, toll free, at 1-877-377-SUIT (7848), and talk to an experienced legal finance representative for free. Or, visit us on the web at www.lawsuitfinancial.com. We want to be your law suit funding company and we will do everything in our power to earn your business.