Litigation lender search should begin with OTLA-vetted firms
March 11, 2019 | Bridgepoint Financial |Posted in Viewpoint
Posted on AdvocateDaily.com
When it comes to finding a responsible settlement lender, a safe starting point for counsel and clients would be to look at firms that have already been evaluated by the Ontario Trial Lawyers’ Association (OTLA). As Stephen Pauwels tells AdvocateDaily.com, OTLA is the first lawyers’ association in Canada to implement a policy that establishes specific rules and responsibilities for litigation lending companies, including BridgePoint. “There are some very deceptive marketing tactics being used by many lawsuit lenders — websites that promise automatic loan approvals, money in just a few hours. What they often don’t tell you is the actual cost of that money, only generic claims about having ‘competitive rates’ or the ‘lowest costs,’ anything to hook desperate plaintiffs."