You’ve seen the commercials on television, offering to advance you money on your personal injury claim. What they don’t tell you is that the interest rate can exceed 100% per year. Sadly, this industry is almost entirely unregulated.
Injured people often have lost time from work and have unpaid medical bills. They mistakenly believe that the “lawsuit lenders” offer a way out from financial pressures. However, according to a recent New York Times article, borrowing $5,000.00 can result in a debt of nearly $19,000.00 in just three years. That shows how predatory these companies can be. For more information, click here Click Here to Read the NY Times Story
