JEFFERSON CITY, Mo. – State Rep. Elijah Haahr has again filed legislation that would protect the financial interests of Missourians seeking damages through the civil court system. Haahr pre-filed HB 1705 during the pre-filing period that began Tuesday, Dec. 1.
Known as the Civil Litigation Funding Act, the bill would require all civil litigation funds to meet certain specified requirements, along with establish provisions for an attorney or law firm retained by the consumer in legal claims. Haahr said it is common for individuals pursuing a personal injury lawsuit to need financial assistance while the suit is ongoing, and for certain parties to extend financial support during this time. He said his bill would serve as a simple but effective consumer protection measure to ensure Missourians are not charged excessive fees or interest while receiving assistance from a third party.
“The practice of lawsuit lending is completely unregulated, uncapped, and unrestricted in Missouri. It is time to put meaningful reforms into place to ensure that our citizens have the information and protections they need when deciding whether to accept one of these loans” said Haahr, R-Springfield.