This blog is an effort to keep you informed of ongoing changes, important news and information about accident and personal injury related laws. The law practice of Greenman, Goldberg, Raby and Martinez (GGRM Law Firm) aims to use this blog as our communications platform. We want to not only inform and educate, but open dialogue between our Las Vegas, Nevada law firm and the clients we serve.
Check back often for blog posts concerning laws and news regarding personal injury and worker’s compensation in Nevada. We couple our 40 years of experience with the current accident and personal injury issues of today to provide you with “news you can use”. You can look to this blog for expert legal insight; especially with regard to worker’s compensation and personal injury law.
For example, on January 16, 2011 the New York Times wrote an article about the unregulated business of lawsuit loans. This is the practice of loaning money to plaintiffs in personal injury lawsuits, which typically results in dire financial problems due to high interest rates and difficult terms:
- Injured plaintiffs may turn to a lawsuit lender when they’ve been out of work for a considerable amount of time and cannot borrow money from family or friends.
- Another reason injured plaintiffs become desperate and turn to a lawsuit lender is because it can take months or years to settle a personal injury case.
- Lawsuit lenders’ prices are usually unadvertised, allowing for additional fees and higher rates.
- While accepted worker’s compensation claims pay for ongoing medical expenses, some worker’s compensation plaintiffs still seek lawsuit loans.
This practice generally occurs for both personal injury and worker’s compensation cases throughout the country. However, the state of Nevada prohibits liens on worker’s compensation settlements. In fact many lawsuit lenders have little understanding of how an injured worker receives his or her settlement under Nevada law.
Unfortunately, some attorneys will sign their name on an agreement between the lawsuit lender and the client. At Greenman, Goldberg, Raby, Martinez Law Firm, we know that when you work with a lawsuit lender, you take on the sole responsibility to repay the loan. Going into debt may not be the best decision so we encourage clients to have an in-depth discussion with an attorney before proceeding.
For more information about how the state of Nevada views worker’s compensation claims or lawsuit loans, contact Greenman, Goldberg, Raby, Martinez Law Firm today 702-388-GGRM (4476) and allow us to review your case.