Thanksgiving 2017 Litigation Finance Article

The ‘Thanks’ & ‘Giving’ of Consumer Legal Funding

Published November 23, 2017

When I sat down to contemplate the real meaning of Thanksgiving, I realized the holiday means so many different things to different people. Personally, and for those who are lucky enough to be healthy and employed, it means that children are home from school, homes are decorated with fall décor and holiday shopping begins. Days are filled with discussions about where to spend the holiday, who will cook, and which ‘particularly bothersome’ family may show up to our festivities. Guests are huddled around the television for parades and football and enjoying an overabundance of delicious home-cooked food.

However, when I reflect on the word Thanksgiving itself and break it up, the holiday takes on new meaning. Focusing on the two parts of the holiday – both “Thanks” and “Giving” can help us gain new perspective. For close to two decades, I am proud and thankful to be part of an incredible industry where those powerful words are part of our daily job. Legal Finance companies give injured people money to help pay their bills, put roofs over their heads when they are homeless or on the brink of eviction, and put food on their tables. Just as a doctor in a trauma unit has to keep objectivity and keep emotion out of his or her position, we also need to stay objective while listening to clients telling us stories of their daily struggles. But, I often think about the gifts that hearing their stories has given me. The gifts I receive daily are of empathy and compassion. These clients’ stories are immensely powerful and the money we offer them has meaning and makes a significant impact in their lives. The thanks we receive for relieving immediate financial pressure is heartwarming. The tears they cry are real.

On this Thanksgiving holiday I am thankful to be able to be part of a business that changes peoples’ lives, allowing them to continue to support their families while they are unable to work due to injuries…

For many of these people, their financial situations were already a struggle prior to their accidents. Once injured their finances unravel and an already difficult situation becomes an impossibility. We offer them a lifeline, and hope that the future will get better.

Here are their stories:

James was homeless with an infant and a five-year-old. He, his fiancé and their children had been living out of his car. Eventually the car received so many tickets and food was scarce, so he had to sell the car. The money for the car lasted a week. He reached out to his personal injury lawyer who told him about legal funding. We approved him for $5000 which was enough to help the family put a roof over their heads and left a small amount for the holidays.

Each time we speak to Ariva, we are inspired by her positive attitude and sense of humor. Her husband recently lost his job and her family was experiencing financial hardship. She requested funding because her car was getting repossessed and she didn’t even have money to feed her three kids. Throughout the ordeal of her accident and medical recovery, we have been able to assist her with incremental funding on a monthly basis. She let us know that she is forever grateful for the funds we provided. She was so happy once we approved her, she told me when her case settles she’s taking us to her favorite spot for dinner.

This holiday season, we are helping a single mother buy formula for her infant and providing significant funds for a client who was going to lose his business because he could not keep it running while he was out for back surgery.

So, on a day filled with turkey, stuffing, football, pie and contentment we should all be thankful and grateful that we have ways to find hope. The lessons of perseverance and positivity — even in the face of hardship are inspiring. We should remember that there is always a way to find help.

(This article was featured in Litigation Finance Journal)

Elizabeth Pekin, Esq.

President & Co-Founder

Momentum Funding, LLC

 

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