WARNING & ADVISEMENT AGAINST OBTAINING
LOANS AGAINST YOUR SETTLEMENT
From: Law Office of Douglas Loefgren, PLC
To: Clients seeking loans against their settlement
We understand that your life can get turned upside down as the result of an unforeseen accident. You may lose wages and/or even the ability to work for a period of time. This may very well cause a great financial hardship. However, we do not suggest entering into pre-settlement funding agreements with the various lenders located in this state or elsewhere. Their terms and conditions in these contracts are severe and you may very well end up paying several times more than the principal that you originally borrow.
By signing below, CLIENT acknowledges that CLIENT has been advised of the same by the Law Office of Douglas Loefgren, PLC and firm counsel. Moreover, CLIENT acknowledges that the Law Office of Douglas Loefgren, PLC was not involved in the procurement of a loan and, in fact, advised the client of the exorbitant interest CLIENT shall pay and that said loan would not be in the CLIENT’s best interest and may actually make it more difficult to ultimately resolve CLIENT’s claim.
However, being so advised, CLIENT, of CLIENT’s own free will has entered into an agreement with the pre-settlement lender and has instructed attorney to sign any and all liens so as to facilitate said loan. CLIENT further holds the LAW OFFICE OF DOUGLAS LOEFGREN, PLC harmless for CLIENT’s decision to enter into said loan against the advice of said law firm. CLIENT further understands that any amounts which are unable to be paid out of any settlement of CLIENT’s claim are the personal responsibility of the CLIENT and CLIENT holds the LAW OFFICE OF DOUGLAS LOEFGREN, PLC harmless for payment of any amounts due and owing by CLIENT except as to those to be made payable out of the settlement funds negotiated by the law firm.
I HAVE READ AND ACKNOWLEDGE THE ABOVE:
Signed this ________ day of __________________, 20 ______.
__________________________________
Client’s Signature
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Client’s Name (Printed)
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