Funding lives, not lawsuits.

Meet Robyn – “Forever Grateful”

 Funding lives, not lawsuits.

 Consumer legal funding is about funding people and funding lives. Not lawsuits.

 Consumer legal funding can often be the only financial lifeline that exists for a citizen awaiting resolution of a legal claim or settlement. That was certainly the case for Robyn, a woman from Indiana who was injured in an auto accident.

 Working for a company that offered no short-term disability nor having accumulated enough paid leave, her recovery began to take a tremendous financial toll on Robyn and her family. Constant doctors’ appointments and a surgery that required her to take two months off from work meant that Robyn’s bills began to mount.

There were remaining payments on the car that was totaled in her accident. There was a constant threat of foreclosure on the family home. Utility bills started to pile up. And finally, a husband who unexpectedly lost his job.

Fortunately for Robyn and her family, there was consumer legal funding.  Robyn was able to obtain the resources she needed to make sure a roof stayed over her family’s head, the lights stayed on, and food was put on the table while her attorneys were able to properly finalize her settlement.

But don’t just take our word for it, take Robyn’s:  “I have no idea what I would have done without them (Oasis Legal Finance) being as attentive as they have been in seeing that our financial needs are taken care of in an expedited manner.  I’ve never worked with such a well-organized group of people when it comes to financial difficulties and finances.  They seem very sincere and always helpful when it comes to personalizing their efforts for the good of others. I’m forever grateful they are there when I need them and wish them all the best.”

Governor signs bill to regulate Consumer Legal Funding in Oklahoma

Alliance for Responsible Consumer Legal Funding would like to thank Oklahoma State Senator Brian Crain (R) and State Representative Leslie Osborn (R) on the passage of Senate Bill (SB) 1016 regarding Consumer Legal Funding. Consumer Legal Funding provides funds for individuals in financial distress while they wait for their legal claim to be resolved.

SB 1016 imposes extensive and common sense protections for consumers who are involved in a Consumer Legal Funding transaction in the State of Oklahoma.   Consumers can rely on easy to understand language to assist them in their decision to seek consumer legal funding.

“Our goal with this legislation was to protect consumer, while ensuring the industry could operate in the state,” stated Senator Brian Crain. “This legislation sets in place some of the toughest consumer protections in the country on the industry.”

SB 1016 also sets up a rigorous formal licensing process where the companies operating in the State of Oklahoma will now be required to be licensed by the Administrator of Consumer Credit. Consumers will now know that Consumer Legal Funding companies are reputable firms who have been licensed and approved by the State of Oklahoma.

Representative Osborn stated “Companies will no longer be able to operate in the state without being fully licensed. This will ensure that only the reputable firms in the industry will have their product available to the consumers of Oklahoma.”

Among the restrictions codified in SB 1016 are prohibitions on Consumer Legal Funding companies paying referral fees to an attorney or medical provider;  ensuring companies have  no influence in the legal claim; and restricting the funds in a Consumer Legal Funding transaction from being used for attorney’s fees or court related costs.

“We would like to thank Senator Crain and Representative Osborn for their leadership on this issue,” stated Michael Pekin, Founder of Oasis Legal Finance. “This important legislation will ensure that consumers are protected and this product will be available to those who need it now and in the future.”

This legislation will now guarantee that the legal system in Oklahoma will be protected by prohibiting outside parties from having any influence in the final outcome of a consumer’s legal claim. In addition, it puts into place important protections for the consumers of Oklahoma who need the financial assistance Consumer Legal Funding provides.