What is Consumer Legal Funding?

Consumer Legal Funding is a financial lifeline that allows everyday people like you who a have bona fide legal claim to get little financial help until their case is properly settled. It allows consumers to get a fair and proper settlement, not one that is in the best interest of the Insurance Industry, but in the best interest of the Consumer. You!

The Consumer Legal Funding industry supports proper regulation and oversight, in fact we encourage it.  We want to ensure that Tennessee consumers are protected and able to make their own choices about whether legal funding is right for them in consultation with their attorneys.

Instead, Big Insurance pushed legislation that created a hostile environment in Tennessee for both legal funding providers and consumers.

We are asking that you contact state legislator and encourage them to overturn the “Tennessee Litigation Financing Consumer Protection Act”.   You deserve to make your own choice as to whether this economic option is available to you.

 

How is Tennessee affected?

  • In the 2014 Legislative Session the Tennessee Legislature was heavily influenced by the high priced lobbyists of the US Chamber of Commerce and Big Insurance.
  • As a result of the undue leverage Big Insurance put on the legislature they passed a law that drove the Consumer Legal Funding industry out of the state.
  • The legislation that  subjects the Consumer Legal Funding industry to extreme restrictions that no other industry in the state subject to:
    • Denying them the ability to raise money to run and grow their businesses
    • Limiting their ability to recover the funds they have provided to consumers.
  • As a result, the US Chamber of Commerce and Big Insurance got their way – they forced an industry to leave the state and hung consumers out to dry.

 

CNN Investigation

“M.I.S.T. — Minor Impact Soft Tissue Injury”. CNN/ Anderson Cooper 360 investigative exposé reveals mass denial of payment for insurance claims. This investigative report, which includes secret documentation and proof uncovered by CNN, confirms that mass denials and widespread non-payment of claims was/ a business practice of State Farm and Allstate Insurance Companies. Farmers Insurance and “other insurers” are also implicated. Read More