By Lindsay Frankel
In order to build relationships with test solicitors, a small grouping of alleged вЂњlawsuit lendersвЂќ recently attended the Florida Justice AssociationвЂ™s annual meeting. These loan providers, also called вЂњlitigation funders,вЂќ offer cash advances become paid back by plaintiffs in case of a settlement. In the event that attorney loses the lawsuit, the debtor isn’t needed to cover right back the advance. As a result, the industry does not examine these payday loans become loans, plus they are additionally perhaps perhaps maybe not susceptible to the exact same usury guidelines as pay day loans in Florida. Because the industry grows, therefore does controversy surrounding the possible lack of interest fee and rate caps on lawsuit loans.