A 21 year old New Jersey man, who was working for his family’s business, was killed in this tragic workplace accident. He was performing clearance work for the family landscaping company, which was subcontracted to clear out a site for a parking lot expansion.
Unfortunately, power to the site had not been turned off and the young man was electrocuted; he died instantly. His parents were on site at the time; they watched, in horror, as their son died. The father was also electrocuted; he sustained a shoulder injury. A co-worker sustained permanent, life-altering injuries.
The family filed a wrongful death lawsuit indicating the utility company was negligent, causing their son’s death and the other injuries sustained by the dad and co-worker. The project owner was also sued for not advising the utility company about the landscaping work. The case recently resolved for $8,000,000.00
Seven figure cases do not get resolved over night; it is a long, hard struggle for justice. This case was no exception. The family and the co-worker could have benefited from an important litigation, strategic tool, often referred to as lawsuit funding. The lawsuit funding industry was founded to assist financially distressed plaintiffs, involved in pending personal injury litigation and represented by an attorney, who need cash now while waiting for their cases to resolve. A lawsuit cash advance is given to plaintiffs in anticipation of their expected court verdict or settlement. Repayment of this “lawsuit loan” is contingent upon the outcome; if they win the case, they pay back principal and profit. If they lose the case, the plaintiffs keep the advanced money, free of charge; that is correct; they do not have to repay a dime.
Litigation funding is easy to apply for online or by phone; if a plaintiff is approved for pre-settlement funding, it arrives quickly, within 24-48 hours by wire or by check. Plaintiffs may use the money for any important purpose; most pay then pay excess medical bills, medications, therapy expenses and any other costs related to the accident. Many use lawsuit financing proceeds to pay important bills and expenses, like mortgage, car payments, rent or tuition. With their lawsuit cash advance in hand, they can cope with the situation, wait out the long, legal process, and avoid settling too early for too little. Using legal funding as a strategic tool will often pay for itself and create additional case value for the client and for the contingency fee attorney. As I said, its a valuable service; so, who’s hurt by legal finance services? The insurance company, that’s who!