A Wall Street Journal article today reports on the pre settlement funding industry. Much of the article revolves around the “costs” of lawsuit funding and how it is unfair to consumers. These arguments have been made since the first lawsuit cash advance businesses emerged over 15 years ago. Since that time, lawsuit funding operators have helped hundreds of thousands of people with immediate liquidity needs. The industry thrives because it serves a legitimate need in the marketplace.
We regularly post about opponents’ fairness arguments. And history has no shortage of people, supposedly without an agenda, loudly demanding fairness in an unfair world. Ultimately however, fairness is a subjective concept. What makes sense for one person, may not make sense for another. This is simply the way the world works.
The purpose of this post is respond to these arguments made by people supposedly saving consumers from themselves. As long as the attacks keep getting published, these posts will continue. Read more »
Date: April 29, 2013