Often times, individuals who have filed personal injury lawsuits can wait for quite some time before their case is finally settled. This waiting can sometimes place a financial burden on the part of the plaintiff. For instance, the plaintiff may have been injured as a result of an auto accident and forced into a situation where she could no longer work. At the same time, she continues to receive her mortgage bill, hospitial bill, utility bill, etc. Pre-settlement lawsuit financing can alleviate the problem of everyday expenses and there is usually no risk if the plaintiff loses the case. Funding is not considered a loan so there is no interest charged and no monthly or yearly payments to be made. Funders of pre-settlement lawsuits charge fees that are deducted directly from settlement proceeds. Some are more expensive than others but the funder takes a tremendous risk when advancing funds based on a possible settlement.
Usually the funded amount is limited to about 10-20% of the amount the funder believes the case will settle for. The plaintiff is required to pay back the money that is advanced and fees accrued only if she wins her case. In other words, this is a non-recourse type of transaction meaning that the funder cannot come back to the plaintiff demanding payment if her case was lost. Most funders will not accept a case for advance funding until it is at least six months along. This is because the attorney takes this time to gather and research information relating to the case.
Pre-settlement lawsuit funding offers an advantage to the plaintiff in that they are able to receive one lump sum of money long before their case settles, and at virtually no risk. Funds can be received within 3-5 business days and some funders will send the payment via overnight mail. This timeliness requires the cooperation of the plaintiff and the plaintiff’s attorney. Case approval can take as long as it takes for the attorney to provide the requested documentation to the funder.
If a person is in a situation with financial obligations that have not been met, pre-settlement lawsuit financing may be an answer. It is important to have a clear understanding of the fee structure and what is required by the funding company in order to receive approval. It’s best to speak with someone knowledgeable in the field or perhaps someone who has received funding in the past. It can be a clear benefit for the plaintiff and the attorney.
Accidents are a daily occurrence today, often resulting in personal injury and property damage, as well as loss of wages for individuals and loss of sales revenue for businesses. Victims of accidents are entitled to compensation from the party (either an individual or a business) that can be proven to be negligent or admit negligence. Compensation for personal injury, pain and suffering, medical bills, and lost wages or lost business income sometimes comes directly from the negligent party, and sometimes it is paid by the negligent party's insurance company (such as automobile or business liability insurance).
The challenge facing individuals and small businesses involved in such lawsuits, as well as their attorneys, is that it can take months?sometimes even years?for the case to be resolved. Plaintiffs and their attorneys involved in personal injury, automobile accident, product liability, wrongful death, medical malpractice, industrial accident and similar cases, do not receive any compensation until they either reach an out-of-court settlement or win the case in court. And even if they win the case in court, appeals can take months or years, further dragging out the recovery!
Lawsuit funding provides cash for both plaintiffs and attorneys before a case is settled. Lawsuit funding is the advancing of cash against the future proceeds of the lawsuit. Lawsuit funding advances are non-recourse. This means that such advances only are repaid if the plaintiff wins the case or reaches an out-of-court settlement. If the case is lost or dismissed, the plaintiff keeps the lawsuit fundingadvance and owes nothing to the funding company. To receive a lawsuit funding cash advance, there is no application fee and no up-front costs. And once a lawsuit funding advance is made, there are no monthly payments. The cash advance received through non-recourse lawsuit funding is repaid by the attorney directly from the proceeds of the settlement once the case is resolved.
Headquartered in New York, LawMax provides lawsuit funding across the United States, serving plaintiffs and their attorneys from Los Angeles to Chicago, San Francisco to Miami, as well as clients throughout Canada and the British Commonwealth.
LawMax provides lawsuit funding for many types of cases:
?Automobile (car or motor vehicle) accidents ?Medical malpractice ?Wrongful Death Settlement ?Sidewalk and stairway cases ?Burns and head injuries ?Construction negligence ?Slip, trip and fall claims ?Industrial and premises accidents ?Appellate litigation ?Commercial litigation ?Divorce and inheritance claims
For individual plaintiffs, lawsuit funding provides cash to pay medical bills and household expenses, as well as to cover lost wages. For some plaintiffs, lawsuit funding is the difference between survival and living on the street! For small businesses, lawsuit funding may be the difference between staying in business and filing for bankruptcy!
In addition, once a plaintiff has taken advantage of lawsuit funding, the pressure to accept an initial "low-ball" offer from the defendant is diminished. That gives the victim's attorney the opportunity to develop the case, negotiating from strength so he or she can receive a fairer settlement for the plaintiff.
Visit www.fundmycase.com to learn more about LawMax and the many lawsuit funding services they offer. When applying for lawsuit funding from LawMax, there is no credit check or employment verification, since qualifying for a lawsuit funding cash advance is based solely on the projected outcome of the lawsuit and the merits of the plaintiff's case.
Lawsuit funding from Law Max provides cash to lawsuit plaintiffs on the front end, and results in larger, fairer settlements on the back end!
Both Natalie Tackett & Alec are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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