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What's in this for Legalist? From their home page: > All legal bills covered. > Litigation is expensive. Whether it’s attorney’s fees or that expert witness

What's in this for Legalist? From their home page: > All legal bills covered. > Litigation is expensive. Whether it’s attorney’s fees or that expert witness report you need to prove damages, litigation costs can add up. When you’re backed by Legalist, you don’t have to worry about unexpected legal expenses. Focus on growing your business, and we’ll take care of it. I'm always skeptical of assurances like this.

sodafountan 9y ago
You only pay if you win the case is what I gather from the site, they're confidant enough that you'll win in a small claims suit against Equifax while at the same time advertising their services.
asn0 9y ago
From their FAQ[1] looks like they take a cut of winnings: > Only if you win your case is repayment deducted from your recovery. Legalist funding varies from case to case, depending on your case details and our risk assessment outputs. 1. https://www.legalist.com/faqs/ https://www.legalist.com/faqs/ Edit: formatting
evashang 9y ago
Litigation finance is like a contingency arrangement - if you file the case and the judge dismisses it, there's no risk to you. But if you do file the case and win $1000, we'll recover alongside you.
- spinlock 9y ago
  FYI - when you dodge the question this way, you look as bad as equifax. What is in it for you? Do you take a percentage of the judgement? I'll probably end up paying a lawyer to advise me on the best way to get back at Equifax. But, I'm not going to do business with you because you're shady and won't disclose your interest in this case.
  - evashang 9y ago
    Hey! As you'll find on our website, we take a third of the judgment as a contingency stake, as per our usual practice.
    - jellicle 9y ago
      It doesn't say that anywhere on the website. The language used is specifically vague to accommodate a wide range of fee percentages. "Legalist funding varies from case to case, depending on your case details and our risk assessment outputs. Apply now to get a rate!"
    - spinlock 9y ago
      Do you have a link? I looked over your website and I found no information about you fees.
  - i_cant_speel 9y ago
    He did answer your question. "But if you do file the case and win $1000, we'll recover alongside you"
    - traek 9y ago
      She* [0] [0] https://www.linkedin.com/in/eshang/ https://www.linkedin.com/in/eshang/
      - i_cant_speel 9y ago
        Oops. I thought about that after I submitted the comment, but the app I was using doesn't give me the option to edit the comment.
    - spinlock 9y ago
      That really doesn't answer my question. If I win $1000, how much do I then owe? I'm cool with not recovering anything but I don't even know if my liability is capped at the judgement against Equifax. It's funny how many people are upset by my comment. The only thing I can say is that, when I hire a lawyer, the point is to have them clarify the law for me and translate it into plain english. If a lawyer won't even put their own fees into plain english, I don't believe they are working for me so I won't hire them.
LusoTycoon 9y ago
If the class law suit wins, they get their share. And it already seems certain to win by now, I imagine.
- evashang 9y ago
  Just a clarification - while there are multiple class action lawsuits against Equifax, Legalist is funding individual consumers to take action in small claims court. It's faster and you're likely to recover more.
  - sodafountan 9y ago
    It's also harder to litigate on Equifax's part. Often times they just attempt to settle
    - evashang 9y ago
      Absolutely! The only authorized representatives are company officers or lawyers, and many small claims courts don't allow lawyers. So unless the CEO of Equifax attends every court hearing in the country, or unless the judge allows them to move it out of small claims court, you're likely to recover. (not a lawyer, not legal advice)
      - kd0amg 9y ago
        unless the judge allows them to move it out of small claims court How common is this?
        xie_alan 9y ago
        From what I've read on some law blogs, this doesn't happen often at all, and were it to happen, it would also mean that there's no reason for Equifax not to also deal with these cases in a class action.
        imglorp 9y ago
        Furthermore, can the court compel some kind of class-action suit if it realizes there's a small claims backlog of thousands of plaintiffs against the same defendant for the same issue? This thing could clog all the SC courts in the country if all 100mm people file like this.

sodafountan 9y ago

You only pay if you win the case is what I gather from the site, they're confidant enough that you'll win in a small claims suit against Equifax while at the same time advertising their services.

asn0 9y ago

From their FAQ[1] looks like they take a cut of winnings: > Only if you win your case is repayment deducted from your recovery. Legalist funding varies from case to case, depending on your case details and our risk assessment outputs. 1. https://www.legalist.com/faqs/ https://www.legalist.com/faqs/ Edit: formatting

evashang 9y ago

Litigation finance is like a contingency arrangement - if you file the case and the judge dismisses it, there's no risk to you. But if you do file the case and win $1000, we'll recover alongside you.

spinlock 9y ago
FYI - when you dodge the question this way, you look as bad as equifax. What is in it for you? Do you take a percentage of the judgement? I'll probably end up paying a lawyer to advise me on the best way to get back at Equifax. But, I'm not going to do business with you because you're shady and won't disclose your interest in this case.
- evashang 9y ago
  Hey! As you'll find on our website, we take a third of the judgment as a contingency stake, as per our usual practice.
  - jellicle 9y ago
    It doesn't say that anywhere on the website. The language used is specifically vague to accommodate a wide range of fee percentages. "Legalist funding varies from case to case, depending on your case details and our risk assessment outputs. Apply now to get a rate!"
  - spinlock 9y ago
    Do you have a link? I looked over your website and I found no information about you fees.
- i_cant_speel 9y ago
  He did answer your question. "But if you do file the case and win $1000, we'll recover alongside you"
  - traek 9y ago
    She* [0] [0] https://www.linkedin.com/in/eshang/ https://www.linkedin.com/in/eshang/
    - i_cant_speel 9y ago
      Oops. I thought about that after I submitted the comment, but the app I was using doesn't give me the option to edit the comment.
  - spinlock 9y ago
    That really doesn't answer my question. If I win $1000, how much do I then owe? I'm cool with not recovering anything but I don't even know if my liability is capped at the judgement against Equifax. It's funny how many people are upset by my comment. The only thing I can say is that, when I hire a lawyer, the point is to have them clarify the law for me and translate it into plain english. If a lawyer won't even put their own fees into plain english, I don't believe they are working for me so I won't hire them.

LusoTycoon 9y ago

If the class law suit wins, they get their share. And it already seems certain to win by now, I imagine.

evashang 9y ago
Just a clarification - while there are multiple class action lawsuits against Equifax, Legalist is funding individual consumers to take action in small claims court. It's faster and you're likely to recover more.
- sodafountan 9y ago
  It's also harder to litigate on Equifax's part. Often times they just attempt to settle
  - evashang 9y ago
    Absolutely! The only authorized representatives are company officers or lawyers, and many small claims courts don't allow lawyers. So unless the CEO of Equifax attends every court hearing in the country, or unless the judge allows them to move it out of small claims court, you're likely to recover. (not a lawyer, not legal advice)
    - kd0amg 9y ago
      unless the judge allows them to move it out of small claims court How common is this?
      - xie_alan 9y ago
        From what I've read on some law blogs, this doesn't happen often at all, and were it to happen, it would also mean that there's no reason for Equifax not to also deal with these cases in a class action.
      - imglorp 9y ago
        Furthermore, can the court compel some kind of class-action suit if it realizes there's a small claims backlog of thousands of plaintiffs against the same defendant for the same issue? This thing could clog all the SC courts in the country if all 100mm people file like this.