Ohio Governor Signs Bill Allowing Lawsuit Fundings
Governor Ted Strickland signed House Bill 248, into law, on May 28, 2008. This new bill specifies the requirements
regarding contracts for non-recourse litigation advances. these are transactions in which a company will make a cash advance payment to a consumer who has a pending civil claim or action, in exchange for an amount of the proceeds of a realized settlement, judgment or verdict the consumer receives from the civil lawsuit. The new law will take effect August 28, 2008.
These types of advances have previously not been allowed in the state of Ohio, and was the only state where the consumer was unable to apply for them.This now opens the way for Ohio residents to get a non recourse advance on their case before it is settled. Non recourse advances are only paid back if the consumer wins their case.The types of cases that this includes are auto accidents, personal injury claims,workmen's comp third party only, malpractice,
and other types of claims.To find out if your case qualifies for funding,
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