Loan Company Targets Vioxx Lawyers
Posted Nov 15, 2007 7:31 AM CDT
By Debra Cassens Weiss
A New York-based loan company is targeting Vioxx lawyers in an ad on law.com.
Counsel Financial Services is touting the $4.85 billion Vioxx settlement in the bright-red ad that announces, “We fund Vioxx attorneys.”
Counsel Financial offers credit lines of up to $25 million, Portfolio.com reports. Interest rates usually range from 18 to 20 percent per year, loan officer Megan Brooks Payne told the publication. She said the company already has many Vioxx lawyers as clients.
One Vioxx lawyer, Kim Wilson of Lewis & Roberts in Raleigh, N.C., has no plans to sign on. She says she also advises her clients to stay away from such loans. Counsel Financial, however, offers loans only to lawyers.
"Is there a place for these companies? I guess so, because they exist,” she told Portfolio.com. “But not at my law firm."