RUTH v. CHEROKEE FUNDING, LLC

304 Ga. 574

FINAL COPY S17G2021. RUTH et al. v. CHEROKEE FUNDING, LLC et al. BLACKWELL, Justice. In Cherokee Funding v. Ruth,

342 Ga. App. 404

( 802 SE2d 865) (2017), our Court of Appeals decided that neither the Industrial Loan Act, OCGA § 7-3- 1 et seq., nor the Payday Lending Act, OCGA § 16-17-1 et seq.,1 applies to certain transactions in which a financing company provides funds to a plaintiff in a pending personal-injury lawsuit, the plaintiff is obligated to repay the funds with interest only if his lawsuit is successful, and his obligation to repay is limited to the extent of the damages…