Maritime Lawsuit Funding (Jones Act)
Fair Rate Funding helps clients obtain Jones Act lawsuit loan cash advances on their lawsuits.
We specialize in settlement funding for Jones Act cases in the United States.
What is the Jones Act and Who Does It Protect?
The Jones Act was enacted to protect the sea worker financially from the dangers in his work environment. Liability is based upon negligence law and a vessel owner is liable for even a small breach of the duty of care to these workers.
Seaman is a blanket term for all individuals who work on marine vessels. This includes captains and other crew members. It also includes cooks, bartenders, stewards, cruise directors and anyone else whose duties are on the vessel while at sea. Please note that dockworkers, longshoreman, and shipbuilders are not covered by the Jones Act. These professions have their own risk management systems in place to protect them.
What are the Basics of Jones Act Lawsuits?
The Jones Act enables seamen to be able to sue for negligence of the owner, captain, and other crew members on a ship. The Act places the burden of providing safe conditions on the owner/captain of the ship. The Act makes the employer (ship owner) responsible for:
- Safety – provide the seamen with a safe place to work
- Care – use care to maintain the vessel within reasonable safety conditions for the seamen
Under the Jones Act, injured accident victims are also entitled to “maintenance and cure” for injuries sustained while on a vessel at sea – regardless of negligence. Cure refers to surgical procedures, hospitalization, rehabilitation and medical care. A small daily stipend similar to what the sea worker would be entitled to on the ship, is provided and referred to as Maintenance.
Once the victim has reached their maximum medical improvement, the Maintenance and Cure is exhausted. Even if the worker is not able to return to work, under Jones Act provisions, these benefits will eventually cease.
What Types of Accidents are Covered by the Jones Act?
Normal Jones Act type accidents might include:
- Slippery substances on the deck(s)
- Damaged or broken equipment
- Failure to provide proper equipment
- Improper training of worker
- Encouraging unsafe work methods
- Injuries caused by co-workers
- Assault and/or other intentional torts
What Challenges Face Jones Act Plaintiffs?
The complexity of Jones Act cases often results in settlement negotiations dragging on for long stretches of time and because injuries in these legal proceedings are often severe, many plaintiffs undergo significant and time consuming treatment.
However, during that time, the plaintiff still has to pay his/her bills, eat, and live. All the while, because he/she can no longer work in the same capacity as before, significantly less money is coming in. Many plaintiffs face financial difficulty and need cash now to keep up with the expenses.
Jones Act lawsuit loans can be used to meet this need. These loans are offered by various settlement advance companies and may be right for you. In anticipation of a sizable settlement at the conclusion of the lawsuit, the legal funding company can advance cash now.
What is a Jones Act Lawsuit Loan?
A Jones Act lawsuit loan is specialty finance transaction between a lawsuit funding company and a plaintiff in a lawsuit. The plaintiff gets immediate cash and in return, pledges a portion of the future proceeds of the case.
How are Jones Act lawsuit loans different from traditional loans?
Traditional loans imply repayment at some point in the future. Traditional lenders offer their money in anticipation of repayment with interest. The repayment is not necessarily contingent upon any particular outcome.
Lawsuit loans are actually not loans because repayment depends on success of the Jones Act lawsuit. That is, if the Jones Act plaintiff does not win the case, the lawsuit loan is not repaid.
Can the lawsuit funder get repaid if I should lose?
No, it can not. If a lawsuit “loan” is advanced, the sole source of repayment is the lawsuit’s proceeds. If there is no settlement, no repayment is required. It’s as simple as that.
How is the funding repaid?
The lawsuit loan is repaid by your attorney after your case is resolved, and only if resolved in your favor. Once your attorney receives the settlement, he disburses the funds to all lien holders and then to you. The Jones Act lawsuit loan is simply one of the liens on the file.
How Can I Apply for Lawsuit Funding for My Jones Act Case?
To begin the “funding process” simply click the APPLY NOW button at the bottom of this page or call us at 888-964-2224 to discuss you funding options. An experienced agent will guide you through the process which involves:
- An application
- The compilation of relevant documents
- A short phone call with your attorney
- You signing the contract
- Fair Rate Funding sending you money via overnight courier or direct deposit to your bank.
If You Have Any Questions, Call 888-964-2224
Why Should I Use Fair Rate Funding for My Jones Act Advance?
Fair Rate Funding provides the lowest rates for settlement funding now against the proceeds of your Jones Act lawsuit.
The risk of the Jones Act lawsuit loan is on us. You get the money you need now and your lawyer can work on getting the maximum amount of money available to compensate you for your personal injury. You do not have to pay us back if you do not recover a settlement.
To obtain settlement funding in the quickest and easiest manner, please fill out the submission form. One of our agents will contact you immediately and start the process. We regularly process and provide lawsuit settlement funding within 24 hours of receiving the paperwork from your attorney.
We know you have a choice for lawsuit settlement funding and are happy to assist you. Give us a call. We are here to help and are at your service.
We provide settlement funding services for Jones Act lawsuits for the following states: Alabama, Alaska, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Louisiana, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South Dakota, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming and the District of Columbia D.C.
Thank you for choosing Fair Rate Funding.