ALFA - American Legal Finance Association

American Legal Finance Association Applauds Ohio’s Move to Help Plaintiffs Gain Access to Legal Financing

NEW YORK, NY(June 7, 2008) – The American Legal Finance Association (ALFA) applauds the Ohio State Legislature for supporting legal financing within the state of Ohio. This consumer-focused legislation allows individuals who are involved with lawsuits to receive essential financial support as they work through litigation process, which is often a lengthy ordeal.

Ohio Governor Ted Strickland signed House Bill 248 into law in May 2008, effectively overturning Ohio’s prior policy that had made legal funding unavailable in the state. The bill passed unanimously in both the Ohio House and Senate, making Ohio no longer the only state to bar the practice. The law takes effect August 27th, 2008.

“We fully endorse the Ohio Legislature’s actions, as this bill will allow legal finance companies to provide essential support to those who need it most,” said Roger Shields, Executive Director . “Legal finance ensures a just and fair legal process by providing everyday consumers with the resources they need. The American Legal Finance Association applauds the Legislature’s recognition that this service is critical and necessary to citizens involved in lengthy lawsuits.”

Ensuring that everyday financial pressures don't interfere with the fair and just disposition of an individual's lawsuit is the primary purpose of the industry. Legal finance companies provide funds to those who have nowhere else to turn, so that they can afford basic necessities like housing, utilities, and food as they wait for the resolution of their claim.

With legal finance now available in every state, every American is protected from the financial hardship that can be caused by lengthy legal proceedings.

ALFA proudly supports the regulatory infrastructure that was created by the Ohio measure. Such regulation, like ALFA’s own internal “Best Practices” policy, is geared to further protect consumers from legal financing companies that do not follow industry standards. ALFA and its members will continue to work with policy-makers and regulators across America to establish a just, fair code of ethics for legal finance firms.

The American Legal Finance Association is made up of eighteen of the country’s leading legal finance companies, who work toward a mutual goal of ensuring fair, ethical, and transparent funding standards in the legal finance industry. All ALFA members sign and adhere to a “Best Practices” code of ethics, and the organization works proactively with state policy-makers to establish legal and regulatory guidelines for the industry as a whole. By helping to establish a regulated, fair system, ALFA has helped ensure a successful and functioning free market that continues to expand and helps more Americans every day.

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For Immediate Release

August 4, 2005

American Legal Finance Association Helps Fund Rebuilding of

Church Damaged by Explosion

As Parish Awaits Settlement, Pastor Says, ‘They were the only ones to help us’

HOUSTON -- Members of the American Legal Finance Association (ALFA) have joined together to help rebuild Houston’s New Deliverance Church while the parish awaits settlement from a nearby chemical plant that exploded, causing tremendous damage to the church. The U.S. Department of Environmental Protection has, over the objections of the owners, banned the plant from reopening.

On Dec. 3, 2004, during prayer service and mere hours after receiving the modest settlement check for damages and injuries caused by another explosion at the plant one year earlier, New Deliverance and parishioners were rocked by a far more damaging explosion.

New Deliverance Church was left with caved-in ceilings, cracked walls, doors that had been blown off their hinges, and nonfunctioning air conditioning units. At the in-residence rehabilitation program for men, which is housed in the church, sinks and light fixtures were knocked off the walls and the ceiling and air conditioning units were so badly damaged that the space was nearly inhabitable, especially during August when Houston temperatures regularly top 100 degrees Fahrenheit.

Air condition costs more than doubled. And the church’s pastor, Janice Caslin, was having trouble covering the repair bills.

She appealed to numerous sources including banks and local businesses for financial aid for the rebuilding while the church awaited a settlement, but was turned away after being told the church didn’t “fit the mold” to receive a contribution.

That’s when the church turned to ALFA member company LawMax. Pastor Caslin applied for advanced legal funding from the company, which saw the church’s need and moved quickly to provide the cash necessary to help pay for initial repair bills.

“When Pastor Caslin came to us and told us about her situation, we immediately began working on getting her the funds to get her church back on its feet,” LawMax president Max Volsky said.

“And when Max told all of the ALFA members about the church’s plight, we just had to help,” ALFA president Harvey Hirschfeld said.

With the funds provided by LawMax, Pastor Caslin was able to make enough repairs that the church was able to stay open while awaiting the resolution of the case against the chemical plant.

“Their help was a blessing,” Pastor Caslin said. “They were the only ones to help us.”

ALFA was established as a not-for-profit corporation in July 2004. In addition to its work to promote high standards for fair business practices and become an advocate for positive industry change, ALFA is the liaison to the public and the media to increase understanding about the non-recourse funding industry and communicate about the service it provides to thousands of people each year.

More information about ALFA can be found at its website, www.americanlegalfin.com.