State settles with Oasis Financial

Attorney General Lynn Fitch announced that Mississippi entered settlement with Oasis Financial, a company that provides pre-settlement funding for individuals with claims for benefits under the Mississippi Workers’ Compensation Act. The settlement resolves the State and Oasis’s disagreement that such funding in the context of workers’ compensation claims is not lawful under Mississippi statutes.

“We were pleased to work with Oasis and their legal team to reach this settlement,” said Attorney General Lynn Fitch. “We do not dispute that the type of services Oasis and similar companies offer can be a big help to a family awaiting a legal settlement while medical or other bills pile up. In fact, neither our settlement nor our case was about those types of services overall.”

As part of the settlement, $1 million will be put into a settlement fund out of which approximately 2,225 of Oasis’ Mississippi worker’s compensation clients will receive payments. The dollar value of those payments will be based on the total amount paid to Oasis on those fundings. Eligible individuals will be contacted and receive a Notice of Settlement and Claim Election Form via USPS at their last known address, according to Oasis’ records. Eligible individuals will have six months following the mailing of the Notice of Settlement and Claim Election Form to opt into the settlement fund.

Additionally, Oasis will forego collection of any amounts currently owed by 529 Mississippi clients with a claim for benefits under the Mississippi Workers’ Compensation Act. These clients will receive notice of the forgiveness of their obligation in the mail. Oasis has agreed to refrain from providing legal funding to individuals with claims for benefits under the Mississippi Workers’ Compensation Act going forward.If you believe you may be eligible and have not received any notification within the next 60 days please contact the Consumer Protection Division of the Attorney General’s Office at 601-359-3680 or consumer@ago.ms.gov.

Bob Bakken

Bob Bakken is the most recognized and most trusted name in DeSoto County news and sports reporting, as readers continue to express their appreciation for his accuracy and fairness in the stories he writes. Bob provides content for DeSoto County News and occasionally is heard on the OB Pod podcast talking about area happenings. A former newspaper editor and writer, his award-winning background also includes television news producing, sports media relations, and radio broadcasting.

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