Settlement Funding for NY Labor Law Cases
Fair Rate Funding helps clients obtain New York Labor Law funding on their cases. NY scaffolding accident funding advances injured plaintiffs immediate cash for their NY Labor Law lawsuits.
What are NY Labor Law aka Scaffolding Accident Cases in NY?
Construction work is dangerous, especially at high elevations using scaffolding, ladders or on top of roofs. A minor lapse in the worker’s concentration or focus could result in a fall or other serious accident.
New York implemented stringent safety requirements on property owners or other parties on construction sites for these reasons. For example, the State of New York enacted § 240 and § 241 of the New York Labor Law Statutes and placed additional responsibilities on the property owner or general contractor for the safety of construction projects.
The following criteria for coverage under the law:
- The accident must occur during the construction, demolition or repair of a building or structure and,
- The accident involves ladders, scaffolding, hoists, stays, slings, hangers, blocks, pulleys, braces, irons, ropes or similar devices and,
- The injury occurred because the device was not constructed or placed correctly or was not operated in a way which provided protection to the worker or where the employee should have been provided a device, but was not, and
- The accident was related to the elevation of the worker. In other words, the injury must have resulted from a fall from a working platform (ladder, scaffold, etc.) or something falling from a height while the victim was working at an elevation.
New York scaffolding accident and other construction labor laws provide compensation for injured victims and help prevent accidents from happening in the first place. In fact, certain fact patterns may establish strict liability under §240 on the general contractor or property owner.
What Are New York Scaffolding Lawsuit Loans?
Although designed to protect the laborer, injuries sustained in NY scaffolding accidents are often severe and many plaintiffs will undergo significant treatment over an extended period of time. During the recovery process, the plaintiff still has to pay his/her bills, eat, and live. With the significant cut in income because he/she is unable to work in the same capacity as before, many plaintiffs face financial difficulty and need cash now to keep up with daily living expenses. In instances like these, a NY construction accident lawsuit loans can be a great help.
In anticipation of an award at the end of your construction/scaffolding injury lawsuit, a lawsuit funding company, like Fair Rate Funding, will advance you cash now.
Is New York Labor Law Funding a Loan?
A traditional loan implies the amount, plus interest, will be repaid at some point in the future. Lawsuit “loans” however are an assignment of a small portion of the future proceeds of the case. If the case is unsuccessful, the assignment is essentially worthless. NY construction accident loans are deemed “non-recourse”. This means the lawsuit is the sole source of repayment. The funding company has no ability to seek repayment from the plaintiff personally. In this respect, lawsuit funding loans are not actually loans.
How Much Can I Receive Prior to Settlement?
You can generally receive 10-20% of the anticipated value of your construction accident case in New York. Once you apply with us for a construction accident loan, our team will contact your attorney and gather up some important information. We will review and discuss the case briefly with your lawyer. Then we will approve your case for funding. It’s that simple!
Are There Any Restrictions on the Use of a NY Labor Law Funding?
Since you are not borrowing money but simply getting a cash advance on your construction accident case in New York, what you do with your money is your business. Most of our clients use the law loan for one or more of the following:
- medical treatment
- existing medical bills
- living expenses
- rent or mortgage payments
- car loans or lease payments
- educational expenses
- investment opportunities
- and more.
In fact, there are absolutely no restrictions on the use of a scaffolding accident lawsuit loan whatsoever. After all, it is your money!
How Do I Apply for NY Labor Law Loans?
You apply for a NY labor law loan by clicking the apply now button on this page. In the form, you will provide your personal information and your attorney’s name and number. We will give you a call to ask a few questions and will take it from there.
If You Have Any Questions, Call 888-964-2224
How Do I Qualify for Scaffolding Accident Lawsuit Loans?
If you have a lawyer representing you on your scaffolding accident in New York, you will likely qualify for NY labor law funding. NY construction accident lawsuit loans are available to injured plaintiffs resulting from falls and other accidents in and around construction sites. If you want to apply, give us a call at 888-964-2224. A person will answer your call and guide you in the process. Or you can simply press the APPLY NOW button on this page.
The process goes like this:
Lawsuit Loan Application
- Client or attorney contacts Fair Rate Funding.
- Client gives name and contact information and the name and contact information for the attorney handling the file.
- Lawsuit funding company requests appropriate documents from attorney’s office.
- Once paperwork is reviewed, additional questions are directed to the attorney through the underwriting department.
- We approve your case for a NY Labor Law loan.
- The NY labor law loan contract is drafted and forwarded to client and counsel.
- Client signs returns the documents.
- Attorney signs an acknowledgement indicating agreement terms will be honored.
- Cash advance is sent via overnight or electronic bank transfer.
- When the case is successful, the lawyer repays the lawsuit loan out of the proceeds.
Your Choice for New York State’s Scaffold Labor Law Loans
We specialize in providing the lowest rates for settlement funding in New York construction accident cases.
Only Fair Rate Funding provides low rates for lawsuit funding now against the proceeds of your case.
We know you have a choice of lawsuit settlement funding companies and are happy to assist you. Give us a call – we are at your service!
Thank you for choosing Fair Rate Funding.