For many years now, consumer legal funding has provided vital services to thousands of Louisiana consumers. Because of consumer legal funding, these consumers in Louisiana finally had an alternative to submitting to big insurance company’s delay tactics and low-ball settlement offers for injury claims. Citizens like Iris from Baton Rouge, Louisiana and Lashondra from New Orleans, Louisiana no longer had to worry about their daily living expenses or be intimidated by billion-dollar insurance companies. Instead they could fight for what they deserved, a fair settlement on their injury claim.
For too long insurance companies in Louisiana and all across the United States, have gotten away with less-then-market rate settlements with consumers for automobile injury claims. Insurance companies, like State Farm use anti-consumer methods to delay claims just long enough that an injured consumer becomes financially desperate, can’t wait any longer for a payment claim, and ends up taking a much lower settlement then what they actually deserve. These tactics prey on innocent citizens who are injured, out of work and without a paycheck.
Not until consumer legal funding products came along in places like New Orleans, Baton Rouge and all over Louisiana, could consumers finally stand up to big insurance and say “enough is enough.” With consumer legal funding, consumers who have an injury claim pending with an insurance company can obtain non-recourse funding to help pay for everyday living expenses like rent, utilities, transportation and food. These small amounts of funding help alleviate the worries of the consumer’s daily financial lives and allows them to pursue a fair settlement for their injury claims with big insurance.
Take for example Iris from Baton Rouge, Louisiana. Iris was involved in an automobile accident and needed help while she was injured, out of work and awaiting her insurance company to settle. “I have not worked full time since my accident. The money provided to me by [Consumer legal funding] will help me pay my monthly mortgage.”
For Lashondra from New Orleans, Louisiana, consumer legal funding allowed her to secure much needed funding to help her out of a bind due to her accident. “[Consumer legal funding] came just in time and it was able to help me get out of a hole, thanks.”
Insurance companies, along with the U.S. Chamber of Commerce, will spend millions of dollars to tell a story to consumers, legislators or anyone else who will listen that consumer legal funding is a product that is bad for the consumer.
These campaigns by the insurance industry through the U.S. Chamber of Commerce are, of course, false. These are merely desperate diversions to their true intentions, of eliminating the consumer-friendly services of consumer legal funding in Louisiana in hopes of going back to their old ways of doing business.
The insurance industry would love nothing more than to return to their monopolistic anti-consumer ways, by forcing consumers like Iris and Lashondra into take-it-or-leave-it offers, saving billions of dollars for insurance companies and leaving consumers at the mercy of the insurance executives.