Litigation funding is a rising point of contention, as the legal community grapples with the rapidly growing industry. While opponents of the industry claim it promotes frivolous lawsuits and has predatory behavior toward consumers, advocates argue it evens the playing field.

"I think it's horrible. There are no pros," Michael Fenton, managing attorney for civil litigation at BBB Attorneys, said about litigation funding.

Due to the high price of litigation, David Alfasi Siffert, a New York University School of Law adjunct professor of clinical law and director of research and projects, Center on Civil Justice, said consumer litigation funding typically involves a personal injury case, where the plaintiff needs money upfront for household expenses while the litigation is pending.