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Detailed text transcripts for TV channel - CNN - 20100219:01:31:00 - Vimarsana News

Detailed text transcripts for TV channel - CNN - 20100219:01:31:00

Probably what the general range would be. >> reporter: so that adds up over time? >> it does. not for everyone, but if you need the capital, if you need the money to stop a foreclosure or stop an eviction, providing legal funding for that gives them the mean to keep their case open. >> reporter: mullings signed a contract to receive $75,000 from law cash. if you were awarded a settlement then you pay that back with the accrued fees? >> that's correct. >> reporter: to you that's worth it? >> absolutely. >> reporter: some lawyers say litigation finance can get in the way of justice. >> this is a...

Detailed text transcripts for TV channel - CNN - 20100219:01:30:00 - Vimarsana News

Detailed text transcripts for TV channel - CNN - 20100219:01:30:00

Needed financial help? >> absolutely. my bills were, like, so sky high and, you know, my kids needed money for lunch or for the bus. rent. >> reporter: legally, mullings could not borrow money from her lawyer. her attorney suggested an alternative you may know about if you suggest late night tv. >> we need more time. >> you've had this case over 3 1/2 years. >> reporter: when harvey isn't playing a judge in his company's odds -- >> call 1-800-law-cash. >> reporter: he runs law cash, a company that invests in lawsuits like mullings. how is your company able to help tabitha mulling sprks? >> we ...

Detailed text transcripts for TV channel - CNN - 20100219:01:29:00 - Vimarsana News

Detailed text transcripts for TV channel - CNN - 20100219:01:29:00

>> i was doing the black under the one. >> reporter: mullings has to relearn how to do the simpleet things. what happened to you? >> i was in a coma 2 1/2 weeks, but -- >> reporter: in 2008 mullings says she was sent home from the brooklyn hospital center diagnosed with kidney stones. she developed an infection, septic shock. her hands and feet had to be amputated. >> no hands. no feet. and no job. >> reporter: she sued, but the hospital and her doctors denied liability. setting up a lawsuit that could take years. unable to work, money got tight. and she couldn't get a loan from a bank. so the...

Detailed text transcripts for TV channel - CNN - 20100219:01:34:00 - Vimarsana News

Detailed text transcripts for TV channel - CNN - 20100219:01:34:00

And money is tight, family and friends can't just dish out a bunch of money. banks aren't giving loans. so these companies are doing really well because there's a need for these kinds of companies. and people are willing to pay those accrued fees. >> that may be the only option in many cases. how difficult are the contracts to understand? >> well, the contracts, some are easy to read and some are very complicated. and what was interesting when we interviewed tabitha mullings, at the time she signed the contract she was probably clear and understood the contract. when i asked her pointblank, wh...

Detailed text transcripts for TV channel - CNN - 20100219:01:28:00 - Vimarsana News

Detailed text transcripts for TV channel - CNN - 20100219:01:28:00

Take a look. >> reporter: this lawyer-turned-entrepreneur gambles on lawsuits for a living. >> we are not actively involved in the litigation. we're financial investors in litigation outcomes. >> reporter: desser bets on outcome of big corporate lawsuits. his company, juris capital bankrolls the side he predicts will win. that money helps fund the case. if he backs the winner, desser and his investors get a cut of any settlement or award. if the company bets wrong it gets nothing. >> of course we expect to have more winners than losers. otherwise we wouldn't be in business, right? >> reporter:...