Maryland Pre Settlement Funding & Lawsuit Loans

Why Is Lawsuit Funding Illegal In Maryland?

In Maryland, legal funding, also known as lawsuit loans or pre-settlement funding, is prohibited under state law. The specific legislation that makes legal funding illegal in Maryland is found in the Maryland House Bill 1331.

Under this law, individuals or companies are prohibited from providing financial assistance to plaintiffs involved in pending lawsuits in exchange for a portion of their potential settlement or judgment. The rationale behind this prohibition is to prevent unregulated lending practices that may exploit vulnerable plaintiffs and interfere with the administration of justice.

Legal funding typically involves providing cash advances to plaintiffs who are awaiting the resolution of their lawsuits. This allows plaintiffs to cover their living expenses, medical bills, and other financial obligations during the often lengthy legal process. In return, if the plaintiff’s lawsuit is successful, the legal funding company would receive a portion of the settlement or judgment.

There are several benefits associated with legal funding. For plaintiffs who have been injured and are unable to work, legal funding can provide much-needed financial support. It allows them to meet their immediate financial needs without having to accept a lowball settlement offer from the opposing party.

Furthermore, legal funding levels the playing field by preventing defendants from exploiting plaintiffs’ financial vulnerability. It ensures that plaintiffs have access to proper legal representation and are able to pursue their claims diligently.

However, because legal funding is prohibited in Maryland, residents of the state are deprived of these potential benefits. Without access to legal funding, plaintiffs may face significant financial hardships during the litigation process. They may be forced to settle for less than what their case is worth or endure financial strain while awaiting a fair resolution.

Obtaining financial support during the course of a legal case can be difficult in Maryland, since third-party lawsuit funding is prohibited. Lengthy and costly lawsuits often leave plaintiffs with mounting medical bills, living expenses, and other costs they may not have the resources to cover.

Nevertheless, there are alternative solutions for those who require immediate funds such as personal loans, borrowing from friends or family, or seeking help from charitable organizations. Additionally, attorneys may provide contingency fee arrangements where they only receive payment if the case is successful – relieving much of the financial strain for plaintiffs.

Lawsuit Funding In Maryland By City

^{The largest cities in Maryland are Washington, Shaw, Adams Morgan, Chevy Chase, and Bloomingdale.}

^{TriMark Legal Funding no longer offers pre-settlement loans or post-settlement loans in any part of Maryland including Aberdeen, Abingdon, Accident, Adamstown, Adelphi, Allen, Annapolis, Annapolis USNA, Aquasco, Arnold, Ashton, Aspen Hill, Avenue, Baldwin, Baltimore, Barnesville, Barstow, Barton, Beallsville, Bel Air, Bel Alton, Belcamp, Beltsville, Benedict, Benson, Berlin, Berwyn Heights, Bethesda, Bethlehem, Betterton, Big Pool, Bishopville, Bittinger, Bivalve, Bladensburg, Bloomington, Boonsboro, Boring, Bowie, Boyds, Bozman, Braddock Heights, Bradshaw, Brandywine, Brentwood, Brookeville, Brooklandville, Broomes Island, Brownsville, Brunswick, Bryans Road, Bryantown, Buckeystown, Burkittsville, Burtonsville, Bushwood, Butler, Cabin John, California, Callaway, Calverton, Cambridge, Camp Springs, Cape Saint Claire, Capitol Heights, Cardiff, Carrolltowne, Cascade, Catonsville, Cavetown, Cecilton, Centreville, Chance, Chaptico, Charlestown, Charlotte Hall, Chase, Cheltenham, Chesapeake Beach, Chesapeake City, Chester, Chestertown, Cheverly, Chevy Chase, Chewsville, Childs, Chillum, Church, Church Hill, Churchton, Churchville, Claiborne, Clarksburg, Clarksville, Clear Spring, Clements, Clinton, Cobb Island, Cockeysville, Cockeysville Hunt Valley, Colesville, College Park, Colmar Manor, Colora, Coltons Point, Columbia, Compton, Comus, Conowingo, Cooksville, Cordova, Corriganville, Cottage City Creek, Crellin, Cresaptown, Crisfield, Crocheron, Crofton, Croom, Crownsville, Crumpton, Cumberland, Damascus, Dameron, Dames Quarter, Darlington, Darnestown, Davidsonville, Dayton, Deal Island, Deale, Deer Park, Delmar, Denton, Derwood, Dickerson, District Heights, Dowell, Drayden, Dundalk, Dunkirk, Earleville, East New Market, Easton, Eckhart Mines, Eden, Edgewater, Edgewood, Eldersburg, Elk Mills, Elkridge, Elkton, Ellerslie, Ellicott City, Emmitsburg, Essex, Ewell, Fairplay, Fallston, Faulkner, Federalsburg, Finksburg, Fishing Creek, Flintstone, Forest Hill, Forestville Fork, Fort Detrick, Fort Howard, Fort Meade, Fort Washington, Frederick, Frederick, Freeland, Friendship Heights, Friendsville, Frostburg, Fruitland, Fulton, Funkstown, Gaithersburg, Galena, Galesville, Gambrills, Gapland, Garrett Park, Garrison, Georgetown, Germantown, Gibson Island, Girdletree, Glen Arm, Glen Burnie, Glen Echo, Glencoe, Glenelg, Glenn Dale, Glenwood, Glyndon, Goldsboro, Granite, Grantsville, Grasonville, Great Mills, Greenbelt, Greensboro, Gunpowder, Gwynn Oak, Hagerstown, Halethorpe, Hampstead, Hancock, Hanover, Harwood, Havre de Grace, Hebron, Helen, Henderson, Henryton, Highland, Hillsboro, Hollywood, Hughesville, Hunt Valley, Huntingtown, Hurlock, Hyattstown, Hyattsville, Hydes, Ijamsville, Indian Head, Ingleside, Ironsides, Issue, Jarrettsville, Jefferson, Jessup, Joppa, Keedysville, Kennedyville, Kensington, Kent Narrows, Keymar, Kingsville, Kitzmiller, Knoxville, Ladiesburg, Lake Linganore, Landover, Landover Hills, Langley Park, Lanham, LaPlata, LaPlata, Largo, Lauraville, Lauraville, Laurel, LaVale, Laytonsville, Leonardtown, Lexington Park, Libertytown, Lineboro, Linkwood, Linthicum, Linthicum Heights, Linwood, Lisbon, Little Orleans, Loch Raven, Loch Raven Village, Lonaconing, Long Green, Lothian, Loveville, Luke, Lusby, Lutherville, Lutherville Timonium, Magnolia, Manchester, Manokin, Marbury, Mardela Springs, Marion Station, Marriottsville, Marydel, Maryland Line, Massey, Maugansville, Mayo, McDaniel, McHenry, Mechanicsville, Middle River, Middletown, Midland, Midlothian, Millers, Millersville, Millington, Mitchellville, Monkton, Monrovia, Montgomery Village, Montpelier, Morganza, Mount Airy, Mount Rainier, Mount Savage, Mount Victoria, Mountain Lake Park, Myersville, Nanjemoy, Nanticoke, Neavitt, New Carrollton, New Market, New Midway, New Windsor, Newark, Newburg, Newcomb, North Beach, North Bethesda, North Chevy Chase, North East, North Potomac, Nottingham, Oakland, Ocean City, Ocean Pines, Odenton, Oldtown, Olney, Owings, Owings Mills, Oxford, Oxon Hill, Park Hall, Parkton, Parkville, Parsonsburg, Pasadena, Perry, Perry Hall, Perryman, Perryville, Phoenix, Pikesville, Piney, Pinto, Pisgah, Pittsville, Pocomoke City Point, Point, Point of Rocks, Pomfret, Poolesville, Port Deposit, Port Republic, Port Tobacco, Potomac, Powellville, Preston, Price, Prince, Princess Anne, Pylesville, Quantico, Queen Anne, Queenstown, Randallstown, Rawlings, Rehobeth, Reisterstown, Rhodesdale, Riderwood, Ridge, Ridgely, Rising Sun, Riva, Riverdale Park, Riviera Beach, Rock Hall, Rock Point, Rockville, Rocky, Rohrersville, Rose Haven, Rosedale, Royal Oak, Ruxton, Sabillasville, Saint Inigoes, Saint James, Saint Leonard, Saint Mary’s City, Saint Michaels, Salisbury, Sandy, Savage, Scotland, Seabrook, Secretary, Severn, Severna Park, Shady, Sharpsburg, Sharptown, Sherwood, Sherwood Forest, Showell, Side, Silver Spring, Simpsonville, Smith Island, Smithsburg, Snow Hill, Solomons Island, Somerset, Sparks, Spencerville, Spring, Spring Gap, Springdale, Stevenson, Stevensville, Still Pond, Stockton Street, Sudlersville, Suitland, Sunderland, Swanton, Sykesville, Takoma Park, Tall, Taneytown, Taylors Island, Temple Hills, Templeville, Thurmont, Tilghman Island, Timbers, Timonium, Toddville, Towson, Tracys Landing, Trappe, Tuscarora, Tyaskin, Tylerton, Union Bridge, Uniontown, Unionville, University Park, Upper Fairmount, Upper Falls, Upper Marlboro, Upperco, Valley Lee, Vienna, Waldorf, Walkersville, Warwick, Washington Grove, Waverly, Welcome, Wenona, West Bethesda, West Friendship, West Hyattsville, West River, Westernport, Westminster, Westover, Whaleyville, Wheaton, White Hall, White Marsh, White Plains, Whiteford Willards, Williamsport, Wingate, Wittman, Woodbine, Woodsboro, Woodstock, Woolford, Worton, and Wye Mills.}