New State Bill Pushes Legal Funding Companies Out of Tennessee
NEW YORK, July 30, 2014 /PRNewswire/ -- Victims and their families may have a difficult time sustaining financially as they fight through lawsuits they're entrenched in Tennessee.
It was announced earlier this month that the largest national consumer legal funding company, Oasis Legal Finance, is leaving Tennessee in what is expected to be an exodus of all the national consumer legal funding companies following a bill that was pushed through the Tennessee General Assembly. This bill, which was pushed through by U.S. Chamber of Commerce and the insurance company lobby, makes operating in the state too risky and expensive for legal funding companies.
Legal funding companies are resources for victims who are battling with insurance companies over claims they have for injuries suffered at the hands of defendants represented by these insurance companies. If victims sell a small fractional interest in the proceeds of their legal claim to the legal funding companies, they are able to persevere in pursing their claims as opposed to being forced to take low ball current settlement offers due to financial restraints.
Although Oasis and other legal funding companies are exiting Tennessee, there are still resources for Tennessee residents. Pegasus Legal Funding, LLC offers victims financial resources they need to stay afloat as they wait for their lawsuit to be successfully resolved.
"Of course the insurance industry is thrilled with the recent bill passing in Tennessee and it's no surprise that they've utilized their influence in certain states to push legal funding companies out," said Larry Stoddard of Pegasus. "It's unfortunate because in the long run, it really hurts the victims, many of which don't have savings in place to get them through a lawsuit that could drag out for some time. Pegasus still remains a resource for those victims."
When dealing with lawsuits involving motor vehicle accidents, medical negligence, worker compensation, construction negligence, and Jones Act/Maritime issues to name a few, Pegasus' top priority is to help victims and their families receive the compensation they deserve.
If you or a loved one are in need of legal funding, Pegasus Legal Funding can help. Apply right now to: http://www.mylawfunds.com/contact-us.html. Pegasus Funding does not offer a "lawsuit loan," lawsuit loans, pre-settlement loans, or a pre-settlement loan, however, we offer non-recourse lawsuit cash advances. To learn more about this please visit our website. If you prefer to speak to a live representative that can speak discreetly and professionally about your specific case and funding needs, you may call Pegasus' toll free hotline at: 855-FUND-YOU.
SOURCE Pegasus Legal Funding