The victim was driving a SUV when he was broadsided by a state Department of Transportation utility truck. The accident occurred when the drivers crossed an intersection at the same time. The driver of the SUV suffered a T-12 burst fracture which rendered him a paraplegic. Now he is unable to walk without leg braces and the use of a walker or wheelchair. The DOT worker suffered a cervical vertebrae fracture and partial paralysis to the right side of his body and both lower extremities. He also suffered a mild traumatic brain injury. Neither man has been able to return to work since the auto accident happened.
Both men filed an auto accident lawsuit claiming they had the right-of-way. An investigation and reconstruction of the accident could not determine who ran the red light. The trials were consolidated and presented to the same jury. During the trial, six witnesses gave contradicting testimony, although the final witness claimed the driver of the SUV had the green light. It appears that the jury awarded in favor of the SUV driver because of the one witness’ statement and because his vehicle was the one struck. But, the award was reduced after assessing him to be 5% negligent for driving over the posted speed limit at the time of the accident.
This case outlines the value of seeking lawsuit funding in contentious litigation. Qualifying for litigation funding is based on expectations, not results. Does the case look like it has value? Does liability seem to be something that is likely to be decided in the plaintiff’s favor? This particular case is unusual in that there were two plaintiffs (and two defendants). Both had serious injuries; one more than the other and both appeared to have a valid case. They may have been able to apply, and be approved for a lawsuit cash advance against a prospective settlement or verdict. To qualify, their attorney would have presented records and opinions that suggested the plaintiff had a good chance of a favorable settlement or verdict.
Proving liability in any case can be complicated resulting in a long legal process. Let’s assume each plaintiff’s attorney had an honest, professional opinion that the case had a good chance of being successful. Let’s also assume that the amount of legal finance sought was reasonable and fit comfortably into the prospective value of the case. The facts of this case could certainly have been interpreted by a jury in favor of the either plaintiff. So, in this case, had each plaintiff been approved for a “lawsuit loan”, they would have received the money within 24-48 hours of approval. They would have paid no upfront fees or monthly payments of any kind. The lawsuit funding could then be used to pay medical expenses and other important bills that fell behind as a result of their loss of work. With pressing financial issues resolved, all that would have been left was to wait for an outcome in the case.
Legal financing is contingent upon the actual outcome of the case, thus, a lawsuit funding company does what no one else can; it provides a guaranteed recovery to the plaintiff. In this case, if the driver of the SUV received litigation funding, he would have paid the lawsuit funding company principal plus interest. On the other had, a litigation funding company provided a cash advance to the DOT worker, there was no recovery from the plaintiff who lost the case. Assuming the lawsuit funding company provided a lawsuit cash advance of $5,000, $10,000, or even $15,000, the plaintiff would have been able to keep the cash advance without obligation to repay. That is because lawsuit funding is a non-recours guarantee, meaning the funding company bears all the risks.
A litigation funding company will look at your case, and if they believe it is a viable case, will advance a portion of the expected settlement to the plaintiff. A lawsuit cash advance can be used any way you choose, but it is recommended that it be used to meet your basic living expenses (e.g. mortgage, rent, utilities, car payments, food) or to assist with medical bills from your injuries during your recovery. The lawsuit funding company assumes all the risks. Should a plaintiff lose their case, they owe nothing.
If you have a pending personal injury lawsuit settlement and your bills are piling up, consider lawsuit funding. It is simple to apply online or in person. You have nothing to lose with lawsuit funding, but a lot to gain – financially while waiting for case settlement. If you have been seriously injured or lost a loved one in an auto accident due to the negligence of someone else, call Lawsuit Financial Lawsuit Financial to apply or for a no-obligation consultation.