Our firm represented a 32-year-old woman who was involved in an auto accident when the driver of a pickup truck ran a red light, striking her vehicle. She sustained several broken bones and a ruptured cervical disc, which required immediate surgery. As a result of her injuries, the woman has been out of work for three months. Doctors cannot guarantee when she will return, and have stated that additional surgery and physical therapy are almost certain. The woman has already exhausted her savings. Additional medical bills and monthly living expenses weighed heavily on her mind. She was grateful that pre-settlement lawsuit funding was available in her time of need.
The financial struggles to make ends meet following a serious auto accident are all too common. Until recently, unless an injured victim had substantial savings or could rely on help from family, there were few options to pay for medical treatment and the monthly household bills, especially if the victim was out of work. Fortunately, for those who have consulted an experienced auto accident attorney and have filed a lawsuit, pre-settlement funding can now provide plaintiffs and their attorneys the staying power to withstand the litigation process. Without this service, many plaintiffs would be forced to settle for less than case value.
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What is pre-settlement funding and where do you get it? Pre-settlement funding is a non-recourse cash advance against a pending lawsuit, and it is obtained from a legal funding company. Some call this type of funding a “lawsuit loan,” but it is not a loan in the traditional sense of the word. Unlike a bank loan, there are no upfront fees, monthly payments, credit checks or employment verification. All that is required is a valid lawsuit and a financial need. The best part is that funding is provided on a non-recourse basis, meaning the cash advance is only repaid if, and when, the client successfully settles his or her lawsuit.
If you are currently going through the legal process of obtaining compensation for your injury, you are most likely learning that lawsuits can take much longer than imagined. To learn more about the importance of pre-settlement funding, contact a legal funding expert.
This article is a paid advertisement prepared by Lawsuit Financial Corp. and does not constitute legal or financial advice from Online Legal Media or LawyersandSettlements.com