A 37 year old man was at work one day and he slipped and fell on ice at a construction site. In his lawsuit against the site’s owner, tenant, and project contractors, he alleged that they had not properly cleared the sidewalk where he encountered the ice and fell. The internal knee injuries he suffered to cartilage and ligaments were so severe that, at the age of 37, his condition required a total knee replacement. He was also told that he would need further surgeries, later, and that he would be never again be able to work in the construction industry. Given his injury and skill set, his alternate employment options were limited. The defendants argued that his knee problem was due to degenerative conditions. The jury did not buy the argument and awarded the man $4,175,341.28 against all defendants.
This was a satisfying, hard-fought verdict for a man who could never return to his previous employment and who had significant medical and surgical treatment. The income loss, alone, can cause financial disaster. Other than quickly settling a valuable slip and fall lawsuit for pennies on the dollar, what does someone in this position do to make ends meet?
This injury victim and others in his predicament should familiarize themselves of a service known as lawsuit funding. Seriously injured accident victims with pending personal injury lawsuits may apply for a lawsuit cash advance; these “lawsuit loans” allow litigants to wait for the legal system to process their cases to fair, just and equitable conclusions.
Litigation funding is cash paid by the lawsuit funding company to personal injury litigants in advance of their expected settlement or jury verdict. It is calculated by the likelihood of success, the potential case value, and the time it will take for the case to conclude. It is easy to apply for pre-settlement funding; the application is received and reviewed, records are obtained from your attorney, and your legal finance proceeds are on their way to you within 24-48 hours of receipt of your records. It is wise to use the money for serious needs like medical expenses, mortgage or car payments. The object is to prevent financial desperation from causing you to settle your valuable case, too soon, for too little compensation.
The basic principal behind lawsuit financing is to increase case revenue by giving a plaintiff control over the negotiation process; case funding allows the plaintiff to control what offers they will decline or accept. No longer does a financially desperate plaintiff have to take a ridiculously low settlement proposal from an insurance company, just to make ends meet. And, if the plaintiff suffers the misfortune of losing the case that legal funding was provided for, repayment will be excused; you read that correctly: The litigant does not have to pay the money back if he/she loses the case. This is, truly, no-risk lawsuit finance.