Over the past couple decades, insurance companies have increased their aggressive tactics of delaying their own customer’s settlements over injury claim payments. This tactic is used as a tool for large insurance companies in the hopes a claimant will be forced to settle for far less than a fair market value for their injury claims. This of course adds billions of dollars to the already deep pockets of the insurance industry, while only piling onto the financial hardships of the consumer.
Luckily for consumers, consumer legal funding began offering its services in the great state of Alabama several years ago, and has helped thousands of consumers bridge the gap between greedy, absent insurance companies, and their mounting personal expenses.
Unfortunately for consumers, out-of-state insurance conglomerates along with their multi-million dollar advocacy group from Washington D.C., The U.S. Chamber of Commerce, are trying to eliminate the business of consumer legal funding in Alabama through burdensome anti-free market regulations.
In recent weeks, these groups have descended onto the legislature in Alabama to push for these anti-free market regulations, selling it to unsuspecting legislators as consumer-friendly proposals. Nothing, of course, could be further from the truth as these bills are merely an attempt by large insurance companies to legislate their way back to the old ways of doing business in Alabama.
The truth is, these bills, if passed, would be terrible news for the citizens of Alabama who rely on consumer legal funding to help them through tough financial times after enduring an automobile accident, often an accident that is at no fault of their own. These accidents often leave the consumer injured, unable to work and without a paycheck.
It is people like Wendy and her family from Gadsden, Alabama who desperately needed a financial boost after her automobile accident who wouldn’t have a place to turn if consumer legal funding was eliminated. “With [Consumer legal funding’s] it helped me pay some bills I needed to pay and had no other way of doing so. Thank you.”
The same can be said for Dawn from Centre, Alabama who was involved in a life changing accident, had a terrible experience with her insurance company, but luckily found a legal funding company to help. “I was at risk of losing everything, thanks to [consumer legal funding] I was able to secure the money I needed.”
Consumer legal funding is always there to help those who need it most, especially when an insurance company is absent and trying to pad their deep pockets at the expense of the consumer. To eliminate consumer legal funding in Alabama through legislative action would be a huge disservice to people like Wendy and Dawn, and the thousands of other consumers who rely on the important services consumer legal funding provides.
We hope that members in both the Alabama House and Senate oppose any bills that would eliminate the consumer legal funding industry, choosing Alabama citizens over large out-of-state insurance conglomerates and Washington, D.C. based lobby groups.