Although the courts are intended to be accessible to all citizens with grievances, the sad fact is they come with an increasingly large entry fee. Citizens can choose to represent themselves when filing or defending a lawsuit, but most citizens don’t have the knowledge or training to effectively represent their own interests in a court of law. On the other hand, the costs of hiring an attorney are prohibitively high for a lot of people.
In order to help people overcome this hurdle, certain lending institutions have arisen that lend plaintiffs the money they need to file a lawsuit, but the plaintiff only needs to repay the loan if they win their case.
The state of Colorado recently filed a lawsuit against one such lawsuit lender, Oasis Legal Finance, for allegedly extending credit in the state without a license under the state’s Uniform Consumer Credit Code (UCCC). Oasis countered that it was not extending credit, it was purchasing an investment. Continue reading ›