{"id":5868,"date":"2016-12-22T09:00:45","date_gmt":"2016-12-22T09:00:45","guid":{"rendered":"http:\/\/www.racinelaw.net\/?p=5868"},"modified":"2016-12-22T09:00:45","modified_gmt":"2016-12-22T09:00:45","slug":"cannot-pledge-idaho-workers-compensation-claim-collateral","status":"publish","type":"post","link":"https:\/\/www.racinelaw.net\/blog\/cannot-pledge-idaho-workers-compensation-claim-collateral\/","title":{"rendered":"You Cannot Pledge Your Idaho Workers\u2019 Compensation Claim as Collateral"},"content":{"rendered":"

By Fred J. Lewis<\/a><\/p>\n

For many years, Oasis Legal Financial or other similar legal funding companies have provided cash to injured workers who needed money prior to the settlement of their case. These were contingent loans that were not required to be paid back if the Idaho Workers\u2019 Compensation claimant was unsuccessful with their Idaho Workers\u2019 Compensation claim. However, since the Industrial Commission\u2019s decision of January 13, 2012, Oasis and other legal lending services no longer loan money to Idaho Workers\u2019 Compensation claimants.<\/p>\n

In its decision, the Idaho Industrial Commission found that Oasis purchase agreements amount to illegal assignments of workers\u2019 compensation benefits, which is prohibited under Idaho Code Section 72-802. In the fall of 2010, the Commission became concerned about the propriety of the Oasis purchase agreements. The Commission ordered an order to show cause hearing to determine the enforceability of the contracts on three different cases based on their own motion. One of my clients had money loaned to him by Oasis. Since the Commission decided that the purchase agreements were unenforceable, the Commission ordered that my client and others with Oasis loans only had to pay back the principal amount that had been loaned to them instead of annual interest that, in some cases, exceeded 120%.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

By Fred J. Lewis For many years, Oasis Legal Financial or other similar legal funding companies have provided cash to injured workers who needed money prior to the settlement of their case. These were contingent loans that were not required to be paid back if the Idaho Workers\u2019 Compensation claimant was unsuccessful with their Idaho […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-5868","post","type-post","status-publish","format-standard","hentry","category-workers-comp"],"yoast_head":"\nYou Cannot Pledge Your Idaho Workers\u2019 Compensation Claim as Collateral|Racine Olson<\/title>\n<meta name=\"description\" content=\"By Fred J. Lewis For many years, Oasis Legal Financial or other similar legal funding companies have provided cash to injured workers who needed money — December 22, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.racinelaw.net\/blog\/cannot-pledge-idaho-workers-compensation-claim-collateral\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"You Cannot Pledge Your Idaho Workers\u2019 Compensation Claim as Collateral|Racine Olson\" \/>\n<meta name=\"twitter:description\" content=\"By Fred J. 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