What Consumers Say
Standards and Conduct
As part of our commitment to consumers, ALFA adheres to and promotes the highest ethical standards and levels of conduct. Our members are required to follow a code of conduct that puts legal funding clients first and protects consumers from bad actors.
- ALFA members are required to obtain written acknowledgement from the client’s attorney before funding their case.
- ALFA members are required to ensure that their transactions with clients contain the entire agreement between the member and their clients. Each member agrees that they will not take any step to acquire ownership in their client’s litigation and interfere or participate in their client’s legal action
- ALFA members agree that they will not intentionally advance their client money in excess of their client’s needs at the time the advance is completed.
- ALFA members agree that they will not intentionally over-fund a case in relation to their perceived value the case.
- ALFA members agree that they will not offer or pay commissions or referral fees to any attorney or employee of a law firm for referring their clients to the member.
- ALFA members are required to be reasonable in negotiations with victims in reducing their outstanding balances whenever it can be shown that (a) the client received a substantially lower settlement than anticipated; (b) unanticipated circumstances arose during the litigation; or (c) other lien holders, including client’s attorney, have correspondingly agreed to reduce their own fee(s).