Topic: USA Litigation Financing/Funding - Honest Request and Call for Help (Read 260 times)

I will tell you now that asking providing a range to 500 BTC is unrealistic, so you can forget the max range you provided. As others have stated, you would need valid collateral that is 120% of what youre seeking. ID, Licenses, etc., isnt valid collateral. Even if you are an real attorney in the US and had any info validated against any state bar db and been in contact with you to validate that you are who you say you are, things are done differently here. We arent a bank that can simply rely on PII because its useless here.

I am curious though, why are you coming here instead of a bank, or an funding firm designed for supplying attorneys with LOC and funding for their firms? I've seen plenty out there and I'm pretty sure that they will fund you if you are legit. Afterall, thats what they are designed for. Some banks and credit unions usually have profession lending programs for attorneys, doctors, etc., so you should check there. Furthermore, out of all the people ive seen here, I would think an attorney would have more common sense than to come here for a loan without reading to see what is really required before posting without valid collateral.

P.S. there are plenty of scammers that dont use the "my mother is dying" sob story, but that doesnt mean that its a 0% of being scammed. Seriously, if youre an attorney, you should know better than to ask for a loan here without valid collateral.

Reading the post it seems to me that this guy is not even from US.

I have dealt with many lawyers and I am from India, the level of grammar mistakes this guy has and the language used is a clear giveaway to anyone with enough experience that this is just a huge bluff.

On the bright side though, the kid's got some patience to write such a wall of text. If he dedicated that patience towards learning something new and useful, he'd be better off.

And yes, don't think he'll lock this thread and stop making a loan request, he'll just come back some other time, perhaps with another newbie account.

Well, you will lock it or you "change" your mind?

That's my fault, sorry about that.  Probably would be better off split into two requests then.  1. Loan with client billable receivables as collateral and 2. Investment opportunity to purchase a portion of proceeds obtained from litigation.  I should have made it more clear.

https://www.forbes.com/sites/forbesfinancecouncil/2019/02/07/legal-funding-a-cash-flow-solution-for-plaintiffs-and-attorneys/#25af12cb3f43

This article sums it up pretty nicely (reposting some parts here):

"So, what exactly is legal funding? According to Legalist, legal funding is the process through which both plaintiffs and law firms can finance litigation or other legal related expenses through a third-party funding company. These finance companies provide advances to their clients in return for a portion of their award, settlement, legal fee or judgment. According to the Litigation Finance Journal, such transactions are “non-recourse, meaning that if the client loses the case, the funder cannot pursue the client’s other assets unrelated to the litigation to gain satisfaction.”

Let's analyze the above definition, as a lot of big words are thrown around trying to describe a relatively simple concept. A third-party funding company is simply the firm that provides a cash advance, or legal funding, to the client, which can be either a plaintiff or law practice. Such firms that provide these advances are commonly known as legal funding companies.


According to the second part of the definition, if the plaintiff (or attorney working on a contingency fee basis) does not win his case, then they are not responsible for repayment of the funds advanced by the third-party finance company. Notice how we're using the term “advance” and not “loan.” Because there is no payment necessary unless there is a favorable outcome in terms of a settlement, award or verdict, legal funding advances are not loans but are, instead, non-recourse transactions. The “non-recourse” concept is important to understand, as it is the main factor differentiating legal funding from traditional financing such as loans and lines of credit."


In order to preempt any questions of "well why don't you just go with an actual company that specializes in this type of lending/investing", my answer to that is that I am currently in the process of working with several companies here.  However, I've yet to find a litigation financier that offers lending to law firms made out with crypto..... perhaps I'm onto something here lol.




-- Edit --

Coming back to this post after giving it some more thought and thinking I will be locking this post soon and withdrawing the requests.  This request came out of a more urgent need to cover some operating expenses and the latter portion re litigation financing was more of a credibility thing/attempt to defuse any scam labels lol.

You didn't post in an "Investment" section, right? You ask for a loan and for getting it you will need valid collateral.

Points well taken.  There is certainly risk in this type of investment for sure. 

I think it would be pretty unusual for a litigation finance loan to be repaid after 60 days.

Your proposal may not be a 'scam' (more on this later), but litigation finance loans are far from risk free. If your case is not settled for enough, the Plaintiff does not win at trial, or if the Plaintiff runs out of money, the loan will not be repaid.

There is also the issue that if a brand new user is asking for a loan without offering anything that is of value and can be resold as collateral, one could say it is a scam attempt nearly 100% of the time. 

Thanks for your award and sarcasm.  Not sure if you are familiar with the idea of litigation financing, however, your reply misses the point that there is a valid collateral in the form of a monetary award for attorneys fees that will be paid out upon conclusion of the case.  So yes it will have risk naturally as all investments do.  However, this space is fairly new to the legal profession at least in the USA but there are tons of companies that do so (e.g Lexshares, Burford Capital etc...)

All potential investors would of course be advised of running the proper due diligence prior to making payment of course and this is what some companies(like Lexshares) do for investors who don’t have time or legal knowledge per se - but have the funds and interest in investing.

The lit fi part of my loan request was more to show the legitness of my request and offer some more security to potential investors and lenders.  But mainly I am looking for the shorter term 0.6 BTC loan to cover some necessary business operating expenses as I’ve mentioned.

To your point re Coinbase - I purchased the funds via Coinbase and ach transfer recently and they put a hold on withdrawal for those types of deposits. Not sure if you are familiar with them but that’s generally what I’ve encountered on other exchanges/platforms as well.

Either way I appropriate your input and welcome your comments.  On further note, I think that the oscar for best request should go to your post, actually, but I digress (and will refrain from commenting on such any further  )

I don’t think anyone would risk giving you so much money.
I took a chance and I was lucky, but the amount was only 0.02, and you ask for an unrealistically large amount without any deposit.
If you have a business you can always take a loan from the bank, the probability that someone will give you a huge amount is 0.00000001%
If there is a real guarantee, then there will be a real debt

In terms of collateral, I don’t have much crypto available right now except for approx 2.5-3 eth that is on Coinbase and the funds are not yet ready for withdrawal.t
For what reasons can you not withdraw your balance? It sounds absolutely ridiculous, please explain.

And for your message, I personally can hand you this:

Hi all,

I’m new to this forum obviously but longtime lurker of the forum and crypto believer.  I messaged @Tman earlier and asked that my message me private, however, after reviewing what I wrote I don’t think that there’s any harm in publicly sharing.

For sake of time and my thumbs as I’m on my cellphone right now, Please see the message below.  And for the TLDR:

Loan Term: 60 Days - TBD
Loan Amount Requested: 0.6 BTC to ~500BTC (See Message for Details re Litigation Funding)
Collateral: Real Identity, Attorney License Info (State Bar Licensing Authority), Legal Services, and open to suggestions.  Bigger amount of BTC might work out for a share of expected return in amount of attorneys fees). Also have approximately 3 ETH that’s stuck in Coinbase for 48hours.
Timing: ASAP - 48 Hours (due to payment deadlines)

Level of Legitness: 100%
Chance this is a Scam?: 0% (lols I had a good time reading some of the other requests here.  This is not a “my mother is dying pls send 100btc” type request.

For those interested in an opportunity to invest/fund cases for a percentage share, please feel free to PM me and I’ll be more than happy to discuss with you and provide details (to the extent possible without the need for signing NDAS if you oppose such).

Otherwise, thanks for stopping by and reading this post... I am prepared for the roasting and hate but really though just a young individual looking to expand a business and sincerely looking for help here (and not to mention a huge believer in bitcoin and crypto as a whole).

Damn my post was long lol, but without further ado please see original message to TMAN:

“Hi Tman:

Nice to meet you on the forums.  This is going to be a bit of a beg/sob story but hopefully will come across more as a honest and sincere request for help.  I am a new user to the forums but not that new to crypto and the like. 

A bit about me - I live in the USA and am an attorney that is actively practicing and still fairly new to the profession - graduated in 2016. 

I recently started my own law firm and have been doing well for the half year or so that I’ve been running on my own.  However, I recently have hit some hard times with the holidays coming and many clients slowing down etc.  I have several ongoing cases that will be sure to provide a decent sum but will need some time to complete (as the US legal process is verrrry slow if you are familiar). I am happy to provide real life info / verification if need to be to this extent.

Long story short, business was doing great and I’ve been expanding. I recently signed a lease for bigger space in the office I’m renting out in a large office building and have also hired two employees to help with cases and other secretarial duties etc.

I now find myself in dire need of a loan and due to my fascination with crypto and belief in the whole idea of it, like the idea of it and hence this request for funding. 

I now need approximately 0.6 BTC to cover rent and business expenses, and importantly payroll for my new employees. I am expecting to receive approximately 3000 usd in the next week or so from client bills.

One thing that may be of more interest to you is litigation financing or funding, and the practice of it has increasingly grown in the last few years.  Essentially a loan for the outcome of a case paid back by monies that would be owed to the lawyer as attorneys fees. 

I have a rather a couple of rather high profile cases currently ongoing, with one case expected to have a rather large attorneys fees award (rough rough estimate of 2-5 million USD) however, of course this needs more time and is still ongoing.

Anyways, if this is something that you would be open to helping out with, at the very least consider doing perhaps as a good hearted investment and law firm financing attempt, please let me know.

In terms of collateral, I don’t have much crypto available right now except for approx 2.5-3 eth that is on Coinbase and the funds are not yet ready for withdrawal.  I can probably provide some real life collateral but I hope that my ability to provide real life info and stand by any verification process that you might need to consider, will be enough for now.

Again, I’m happy to provide any verification info needed and am not opposed to it given the nature of my profession and the fact that I am an honest borrower here that has really hit some tough times.  I’m not a scammer by any means.. just a normal guy that needs help and has scoured most if not all of the traditional fiat lending avenues.

I trust that you will keep the contents of this message confidential, but of course I am not opposed to publishing the loan basics online if need be.  I’m more than happy to work out something with you and sincerely appreciate your serious consideration and quick attention to this matter (as payroll and rent are soon to be delinquent and I can’t buy any more time).

Look forward to hearing back from you soon.  You’re quite literally the only and last hope I have left of making this situation right.

Regards,

E.”