A Detroit, Michigan woman successfully settled her personal injury lawsuit for $2.1 million with the help of lawsuit funding.
The mother of two was seriously injured in an auto-truck accident, and one of her children was killed, when a truck driver fell asleep at the wheel and suddenly veered into her lane. She suffered serious and debilitating injuries, severe emotional problems and was physically unable to work.
The woman’s medical expenses and other bills began to accrue; her mortgage payments were several months behind. The insurance company offered her $500,000 to settle her case. Although she knew her case was worth significantly more, without income, the woman had no means to support her family, pay her medical expenses, or pay funeral and burial expenses for her lost child. Financially distraught, she was ready to accept the insurance company’s offer when her attorney recommended lawsuit funding.
“With a lawsuit cash advance, I was able to pay my mortgage, medical bills and funeral expenses. Avoiding debt also meant preserving my good credit standing.”
The lawsuit funding company created a monthly draw equal to her monthly expenses. The case settled less than a year later, at which time she repaid the cash advance and associated fees.
Lawsuit funding is collateralized only by the pending litigation; there are no credit checks or employment verifications. There are no monthly payments; repayment is only made once the case successfully settles. If the litigation fails, the funding company loses its capital investment.
When choosing a lawsuit funding company, look for a company that will provide an appropriate compromise, when necessary, to facilitate a fair settlement to all. The goal of the funding company should be to enhance case revenue for all parties. As with any contractual agreement, know the terms and conditions, and ask questions before signing.
Disclaimer: 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.
If you or a loved one have suffered losses in this case, please click the link below and your complaint will be sent to a financial lawyer who may evaluate your Pre-Settlement Legal Funding claim at no cost or obligation.