This case took place in Houston, Texas; it involved a construction worker who sustained a knee injury when hit by a tractor trailer that was being driven by an employee of another company. The injury, a torn meniscus, required surgery to repair the tear, and subsequent physical therapy. The injured plaintiff has to, literally, learn to walk properly, once again.
Unfortunately, the injury continues to plague this worker; he experiences severe ongoing pain and restricted mobility.
During the trial for this case, the defendant’s attorneys suggested the plaintiff’s injuries were not all that serious and he should have recovered within weeks. They offered to settle for $5,000. The offer was declined and in the final analysis, the jury verdict came in at $1,557,500; obviously, the jury determined that the injury was, indeed, serious and further found that the defendant was negligent.
This is a prime example of why victims should not settle with insurance companies for initial, lower than low, early settlement offers. Generally, the case will settle considerably higher or result in a hefty jury verdict, if the injury is serious and liability is strong. Insurance companies deliberately delay and deny cases to create financial desperation in a plaintiff to settle too early for too little.
That is what gave birth to the concept of lawsuit funding. This case is a prime example of a case where if a plaintiff has been financially desperate enough to be forced to accept an early offer, he would have cost himself seven figures off of the eventual jury verdict. If he was desperate enough to even consider the $5,000 offer, he would have been wise to consider litigation funding, instead.
A ‘lawsuit loan’ is money given in advance of an expected settlement or jury verdict; pre-settlement funding helps pay for and keep the plaintiff in treatment or therapy, creates immediate income and helps pay important bills and expenses, like mortgage or car payments. it allows the victim to continue with their therapy and pay other accident related expenses.
Applying for a lawsuit cash advance is easy and takes just a few minutes to do by phone or online. Once the applicant is approved, fast cash legal finance is on its way to the plaintiff, within 24-48 hours, by check or wire. Once that financial desperation to settle too early for too little is removed, the plaintiff can follow the professional advice of his/her attorney, declining all settlement offers that the attorney considers inadequate. Legal funding often pays for itself by the additional money it makes possible and, if a plaintiff suffers the unfortunate fate of losing the case, the lawsuit financing is completely excused; that’s right, you do not have to pay the money back.