My client wants to utilize an alternative litigation financing organization while his case is pending. Although I have recommended against it, the client insists. What ethical issues are involved?
A finance company lending clients money with a lien while a case is pending creates many potential problems. It can create divisions between the lawyer and the client. Most lawyers recognize that these lending programs have very prohibitive interest rates. On the other hand, clients sometimes need money and this is the only way they can get it.
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