Lawsuit Funding Case Types from Fair Rate Funding
The legal system is designed to resolve disputes between parties. As the potential for dispute is part of what makes us human, there are a wide variety of lawsuit types. Unfortunately for plaintiffs, not all lawsuits are candidates for lawsuit funding. Below are the top 5 lawsuit funding case types by Fair Rate Funding over the years.
Automobile Accident Lawsuit Funding
By far, the most common lawsuit funding case type we see applying for settlement loans are car accident cases. People involved in automobile accidents often suffer severe and permanent injuries which sometimes prevent the plaintiff from working. Monthly and other expenses continue to mount and clients need help just to stay above water. For these reasons, settlement funding for automobile cases is the highest in volume at our lawsuit loan offices.
Slip and Fall Lawsuit Funding
Slip and fall lawsuits are another common lawsuit funding case type. Like car accidents, applications for slip and fall lawsuits are plentiful. Also, severe injuries often result after a hard fall. These lawsuits are sometimes difficult to settle. That is, it may take a long time for the case to reach a fair settlement. Meanwhile, expenses still have to be paid, and those unfortunate plaintiffs who have liquidity needs turn to slip and fall lawsuit funding to help bridge the gap. Slip and fall lawsuit funding helps litigants who are unable to work or are otherwise incapable of meeting their monthly expenses.
Workers’ Compensation Lawsuit Funding
Most jurisdictions (States) have workers’ compensation laws to protect workers who are injured in the workplace. Workers’ Compensation statutes normally provide for medical treatment and a portion of the average weekly wage of the worker. Unfortunately, benefits may not adequately meet the needs of claimants. When expenses exceed available cash flow, litigants must search for additional sources of income to help make ends meet. Fortunately, lawsuit funding for workers’ compensation cases is an option for these individuals in certain jurisdictions.
Verdict and Appeals Lawsuit Loans
Plaintiffs who receive a verdict in their favor are often surprised when they still must wait for compensation. The reason are post trial practice and the appellate process. After a verdict, both parties can make motions requesting relief. Motions to reconsider or for a judgment notwithstanding the verdict (JNOV) are common examples. If the relief sought is not granted by the trial court, the parties can petition the appeal the verdict in the appellate courts.
Appeals are often complex, time-consuming and expensive. A verdict can take years to collect leaving plaintiff to face daily living costs, such as mortgage payments, car payments and utility bills, without the compensation they need. Thankfully, verdict lawsuit loans and lawsuit loans for appeals are available to save the day.
Medical Malpractice Lawsuit Funding
Rounding out the top five lawsuit funding case types is one based on the malpractice of medical professionals. Doctors and nurses as well as other medical professionals are held to a certain standard of care in performing their duties as care givers for the sick, injured and/or elderly. Injured parties or even the heirs of a decedent may still encounter financial difficulties while a lawsuit is pending. Med Mal Lawsuit funding is one available solution available to plaintiffs involved in med mal lawsuits. Although medical malpractice lawsuits are usually very complicated, medical malpractice lawsuit funding can serve as a financial lifeline for plaintiffs.
The above list is by no means an exhaustive list of cases afforded the privilege of being considered for lawsuit funding. For a complete list of lawsuit funding case types, visit our home page or Fair Rate Funding.
Thank you for your interest in the lawsuit funding business.
