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Legal information

Legal disclosures and state licenses.

Important information about Cherokee Funding pre-settlement funding, product treatment, state availability and regulatory records.

Last updated September 25, 2026

Product overview

Know what the agreement means

Pre-settlement funding is also described as lawsuit funding, consumer legal funding or a plaintiff cash advance. Cherokee reviews an existing legal claim and, if approved, provides money in exchange for a contractual right to receive an amount from the proceeds of that claim.

Non-recourse treatment

Except where a state treats the product as a loan or another form of credit, funding is non-recourse to the consumer. If the legal claim produces no recovery, the consumer owes Cherokee nothing under the funding agreement. If the claim produces a recovery, the amount due is paid from those proceeds as stated in the agreement.

Product names and legal treatment vary by state. In South Carolina, Cherokee Funding II, LLC offers this product under a supervised lender license as a consumer loan. The written agreement and state-specific disclosures control if they differ from this summary.

  • There are no monthly payments while the legal claim remains pending.
  • The written agreement states the funded amount, charges, payment schedule or payoff calculation, and any state-required cancellation right before signing.
  • The consumer's attorney must confirm the legal claim and acknowledge the funding before funds are issued.
  • Submitting an application is not an approval, offer or promise of funding.

Service area

State availability

Availability depends on the consumer's state, the type and status of the legal claim, attorney representation, and applicable law. Cherokee does not currently offer funding to consumers in:

United States map showing ordinary funding availability in 39 states, a separate consumer-loan category in South Carolina, and 11 unavailable jurisdictions. The written lists below name the jurisdictions.
Availability as of September 25, 2026. The map is a guide; the written lists and your agreement provide the detail. Open the full-size map.
  • Funding available in 39 states, subject to review
  • South Carolina: offered as a supervised consumer loan
  • Not currently offered in 11 jurisdictions, including the District of Columbia
See the 39 states where ordinary funding may be available

Alabama, Alaska, Arizona, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Kansas, Louisiana, Maine, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin and Wyoming.

Not currently offered:

ArkansasColoradoIndianaKentuckyMarylandMinnesotaNorth CarolinaVermontVirginiaWest VirginiaDistrict of Columbia

This list may change as laws, licenses and product availability change. Selecting a state in the application does not establish eligibility. Cherokee confirms availability before making an offer.

Regulatory records

Licenses and registrations

Cherokee Funding is a brand of Cherokee Funding II, LLC. A written agreement may identify a different licensed affiliate when required for a particular state. License and registration records do not imply government endorsement.

Illinois

Cherokee Funding II, LLC d/b/a Gain Servicing

License
CLF.0000003-H
NMLS
1989400
Expires
December 31, 2026
View Illinois license

South Carolina

Cherokee Funding II, LLC d/b/a Cherokee Funding

License
CLL-146661
Product
Supervised consumer loan

The written agreement states the actual annual percentage rate, finance charge, amount financed and payment terms for the consumer's transaction.

View South Carolina maximum rate schedule

Utah

Cherokee Legal Holdings, LLC d/b/a Gain Servicing

Registration
11784088-9850
Expires
June 18, 2027

This registration is held by a related Cherokee entity. The written agreement identifies the contracting entity for any Utah transaction.

View Utah registration

Consumer notices

State-specific information

Georgia

Cherokee Funding II, LLC is registered as a litigation financier with the Georgia Department of Banking and Finance under NMLS #1989400. The funding agreement identifies the registered entity, business address and NMLS number and contains the disclosures required by Georgia law.

Illinois

Illinois consumer legal funding is offered subject to the Consumer Legal Funding Act. The written agreement provides the itemized disclosures and cancellation rights required by Illinois law. Cherokee does not provide legal advice or direct a consumer's attorney.

Missouri

A Missouri consumer legal funding contract may be entered only for an existing legal claim when the consumer is represented by an attorney. Cherokee does not recommend or select a specific attorney. A consumer who needs an attorney may be directed to a state or local bar association lawyer-referral service.

South Carolina

In South Carolina, this product is offered by Cherokee Funding II, LLC d/b/a Cherokee Funding as a supervised consumer loan under license CLL-146661. Review the written loan agreement for the actual annual percentage rate, finance charge, amount financed, payment terms and other required disclosures.

Other states

Other states may regulate this product under consumer legal funding, lending, financing, registration, contract or attorney-ethics laws. Cherokee provides state-specific terms and notices in the written agreement when required. Contact us before applying if you have a question about availability in your state.

Please read

Important limitations

  • Cherokee is not a law firm and does not provide legal advice.
  • Cherokee does not control the prosecution, settlement or resolution of a legal claim.
  • Funding can be expensive. Review the total amount due and how it may change over time before signing.
  • Consumers should discuss the agreement with their attorney and may seek independent tax, financial or legal advice.
  • Website summaries do not replace the disclosures or terms in a written agreement.

Questions about a disclosure?

Call (877) 263-4633 or write to Cherokee Funding II, LLC, 3423 Piedmont Road NE, Suite 475, Atlanta, GA 30305.