Q: Can a 'lender/investor' put a variable lien on any judgment, depending on judgment amount, to help finance my lawsuit?
Can a 'lender/investor' put a variable lien on any judgment proceeds to help finance my lawsuit. They'd give me $50,000.
If I lose my case, they lose their money.
If I settle pre-trial, their lien is $100,000 (this part is tricky, as there is no recorded judgment yet on which to place a lien).
If I get a judgment up to a $1million, they get $100,000.
If over $1million, then their recorded lien on my judgment is $200,000.
If I win a judgment over $2million, their lien is $300,000.
What I don't know is if the variable nature is possible and also that doesn't run afoul of usury excessive interest law. It isn't a pure loan, their money is at risk. The main goal is to make their money secure and not rely on my desire to repay them.
A: It is worth it to go see an business attorney and get specific legal advice.
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