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Do you think there are any viable financial instruments that would allow the little guy to not be bossed around by the threat of ruinous legal fees? eg: Insuran
by ggreer 7y ago
Do you think there are any viable financial instruments that would allow the little guy to not be bossed around by the threat of ruinous legal fees? eg: Insurance that would cover up to $100,000 in legal fees in the event that you are sued. (If everyone were required to have such insurance, it would be quite cheap.) Another option could be to allow the defendant to "double the stakes" and say, "If I lose, I will pay 2x the amount you are asking for. If I win, you must pay the amount you are asking for... to me." That would allow innocent-but-nonrich people to secure loans for legal fees. Heck, some firms might even "invest" in the defendant by charging a percentage of the winnings (if they are judged not guilty).
- spiralx 7y agoSurely class actions cover this sort of thing? And I know court costs work differently in the US and UK, but there are plenty of "no-win, no-fee" legal firms over here - affectionately known as "ambulance chasers" lol.
- jki275 7y agoclass actions exist solely to enrich lawyers. They generally do little to nothing for the people who are the parties to them.
- ggreer 7y agoYou seem to have completely misunderstood me. I'm talking about situations where a poor or middle class person is being sued by a rich person or large company. How does a class action cover that? And ambulance chasers sue big companies on behalf of poor people, not defend poor people from lawsuits. Both of your examples are the opposite of what I'm talking about.