NEW YORK, July 16, 2024 — Cartiga, an industry leader in providing money to consumers pursuing personal injury claims, is setting the standard for full transparency in consumer legal funding. This funding enables consumers to pay household and medical bills during the legal process, allowing them to reject “lowball” settlement offers from insurance companies and achieve a fair recovery.
To ensure consumers fully understand the benefits and costs of legal funding, Cartiga is promoting legislation across the country that requires full disclosure of funding terms to protect consumers. Cartiga’s contracts are in plain language with simple words and easy-to-follow numbers, presenting the benefits and costs clearly so the average consumer can understand exactly what they are getting and what they will pay to Cartiga if and when their case resolves. This disclosure includes whether anyone other than Cartiga is getting paid fees, how much they are getting paid, and who is paying them.
Cartiga’s funding contracts are transparent from page one. Right upfront, Cartiga shows the dollar amount provided to the claimant and the amount to be paid by the consumer if they recover on their legal claim in the future. If there is no recovery, the consumer owes nothing. The first page also shows how the amount to be paid increases every year that the legal claims are ongoing, including the one-time fee for Cartiga’s administration of the funding contract over time.
These disclosures eliminate confusion about the exact amount consumers must pay if they receive a recovery. The first page states, as an “annual percentage rate,” how the cost of the funding compares to the amount received.
Cartiga encourages all consumers to review their funding contracts with their attorneys before signing to ensure they fully understand all the terms. Cartiga believes that consumers are satisfied with the funding they receive when they know both the benefits and the costs. Since Cartiga’s goal is satisfied customers, it is in everyone’s best interest to ensure full transparency.
About Cartiga
Cartiga is a leading provider of legal pre-settlement funding to consumers, and working capital funding to law firms, who are pursuing personal injury claims. We have over 20 years of experience in delivering fair, fast and reliable funding at competitive pricing. We are also a trusted partner for law firms that provides data-driven funding solutions with exceptional service. Our vision is to be the premier legal funding provider that empowers law firms and their clients to achieve outstanding results by providing a seamless experience from initial application through final settlement.
