Ill. Legal Funding Bill Raises Concerns About Pressure On Settlement
Posted onAuthorCharles I. SpencerComments Off on Ill. Legal Funding Bill Raises Concerns About Pressure On Settlement
By Lauraann Wood (April 7, 2022, 4:48 p.m. EDT) – Illinois lawmakers sent Governor JB Pritzker’s office Wednesday legislation regulating the state’s largely unchecked consumer legal funding market, despite concerns from opponents of the bill that it could add an invisible side to settlement negotiations and hurt lawsuit resolutions more than it helps them.
If signed by the governor, SB 1099 would immediately establish the Consumer Legal Funding Act and set formal limits within which lenders can do business with consumers looking to make ends meet while they pursue legal action. . Proponents say the bill helps cash-strapped consumers stay afloat while they pursue litigation,…
Stay one step ahead
In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.
Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and more!
One in five people aged 45 to 64 with an income of less than $ 50,000 used a vehicle for a short-term loan. And about a third of people aged 65 and over have received auto title loans. “The reason almost everyone gets these loans is normally to pay for an immediate expense,” such as […]
Photo: The Canadian Press Vivian Ketchum sought emergency help during the first wave of the pandemic when she was forced into self-isolation after coming into close contact with someone who tested positive for COVID-19. As someone already in a financially precarious situation, Ketchum found that taking time off from her low-paying job to conduct telephone […]
A spare bedroom may not be actively used in your home, but that doesn’t mean you shouldn’t pay attention to it. Well, you can’t hurry and decorate the room at the last moment when you know your guests are coming. When entertaining overnight guests, just consider making it a relaxation area for them. Now, you […]