Lawsuit Funding Facts

Literally hundreds of thousands of people have applied for lawsuit funding, and many tens of thousands of plaintiffs have received legal funding nationwide over the past few years. In fact, we aren’t aware of any state in which lawsuit funding has not been available in some form at one time.

With any service being offered to consumers, there can be misconceptions about what the service really provides. When considering any financial service, it is important to ask the right questions and get the facts. The facts of the legal finance industry and specifically of a lawsuit funding are:

1. You may have heard that lawsuit funding is a loan.
   FALSE, IT IS NOT A LOAN*. The term "loan" or "loans," where used to describe legal funding is not an accurate legal or financial definition of the transaction. The transaction is a non-recourse purchase of a portion of the proceeds of a potential future case award or settlement. A loan is a transaction that always requires repayment. Our legal funding only requires repayment if the plaintiff receives a favorable cash settlement award. If the plaintiff loses their case, they do not repay the funded amount. *Please note the exceptions, that in the state of Illinois and Missouri, pursuant to a state issued license, Oasis does make loans in those states.
2. Oasis will get involved in my legal case.
   FALSE. Oasis Legal Finance, has no involvement in the legal aspects of your case whatsoever.
3. If my attorney won’t help me get a lawsuit funding, Oasis can help me find another one that will.
   FALSE. Oasis cannot and will not help you find another attorney. Oasis does not interfere in the attorney-client relationship. Also, if you do not yet have an attorney representing you, Oasis cannot help you find one. However, if you think you may be interested in a lawsuit funding, a good question to ask a prospective attorney prior to hiring them would be if they support the legal finance industry and specifically a lawsuit funding for their clients.
4. If I lose my lawsuit I don’t have to pay Oasis back for the lawsuit funding I received.
   TRUE. Unless there is fraud involved, the transaction is “non-recourse,” which means that if you do not win your case, you don’t have to repay the legal funding.
5. You may have heard that a lawsuit funding is expensive.
   TRUE, it is expensive. Therefore consider all your options first. Obviously, it’s a good choice if you can pay your current bills from income or personal resources. However, if the long legal process is causing a financial burden, lawsuit funding is a practical solution.
6. Attorneys don’t like lawsuit funding because it takes away from their fee.
   FALSE. The reality is, plaintiffs that elect a lawsuit funding often are giving their attorneys additional time to fight the case toward a fair and often higher settlement. If you settle your case for a greater amount, your attorney will probably earn a larger contingency fee. Most lawyers welcome the extra time that lawsuit funding can provide to wait for a fair settlement to your case.

If you, or your attorney, have any questions about lawsuit funding or Oasis Legal Finance, we are happy to discuss any attorney’s concerns about a plaintiff funding transaction directly. Your lawyer may call toll free 1-877-333-6675, or email to info@oasislegal.com.

Oasis Legal Finance is here when you need us! You can start you application on this page or by calling the toll-free number at the top of this page.

Next: What Does Lawsuit Funding Cost?

Oasis Offers Legal Funding Nationwide

Oasis is a national legal financing firm. We provide lawsuit funding in Alabama, Alaska, Arizona, California, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.