New York Lawsuit Loans Help Plaintiffs
The problem is: civil lawsuits take a long time to resolve. This is due to the system being filled to capacity but also because defense attorneys use tactics to intentionally delay the proceedings. Some might argue the use of such tactics, although allowable under the law, is an attempt to stress out plaintiffs financially with the intent to coerce plaintiffs to accept low-ball settlement offers rather than continue the fight.
Accidents and Lawsuits in New York
Accidents are simply a part of life. Every day people are injured through no fault of their own in falls, car accidents, pedestrian accidents, work injuries, etc. Some accident victims sustain severe and permanent injuries.
Thankfully, New York State and federal laws protect individuals who have been harmed by another in accidents where another party was at fault. These laws allow plaintiffs to file lawsuits and recover monetary compensation. Thousands of New York personal injury lawsuits are filed every year.
A large number of civil cases involve personal injuries sustained in automobile collisions, slip and fall accidents or injuries which occur while a business invitee on another’s premises. A large amount of these accidents are caused by another person or party’s negligence.
The Problem with Lawsuits
Lawsuits take time. While many personal injury lawsuits are resolved within months, a larger majority of personal injury lawsuits in New York take longer to settle or otherwise be resolved. Many New York lawsuits take several years before the case is won and plaintiffs receive compensation for their suffering.
The time it takes to settle a New York lawsuit depends on a host of factors, such as:
- The location (county) where the lawsuit is filed
- The experience of the attorney representing the plaintiff
- The attorney’s skill
- The insurance carrier and insurance limits
- The extent of the medical treatment
- The extent of the medical liens
- The number of defendants
- The number of plaintiffs
- And more . . .
Although every case is different, when a New York personal injury attorney pursues a case on behalf of his client, he and his staff spend their time compiling paperwork, investigating available insurance coverage and filing the required documents. These things take time and coupled with the amount of time a plaintiff needs to treat for his/her injuries, it is not uncommon for New York lawsuits to take several years to litigate – especially in the New York metropolitan area. In other locations, similar waits can be expected. These areas include:
- Long Island
While lawsuits are pursued, plaintiffs sometimes encounter financial difficulty because they cannot earn as much money as before the accident. Faced with financial stress and uncertainty, some plaintiffs consider accepting less than fair compensation simply to ease the financial strain. In these situations, New York lawsuit loans can help.
New York (NY) Lawsuit Loans (Lawsuit Funding)
New York lawsuit loans are specialty financial transactions where a plaintiff sells a portion of the future proceeds of a case, prior to settlement. The lawsuit funding company (Fair Rate Funding) purchases a portion of the settlement with immediate cash forwarded directly to the plaintiff.
Although commonly referred to as “lawsuit loans”, New York lawsuit loans are not actually loans in the traditional sense. Traditional loans imply repayment of principal and interest at some point in the future. New York lawsuit loans are structured as a sale of property rights. That is, you don’t borrow against your case – you sell a part of it.
This distinction means that NY lawsuit loans are non-recourse funding – meaning the SOLE source of the repayment must be the lawsuit proceeds (settlement) itself. The funding company has “no recourse” against the plaintiff personally for repayment. If the case is lost for whatever reason, there is no repayment.
All people with lawsuits in the State of New York have the right to seek funding from lawsuit “lenders” who provide New York lawsuit funding for plaintiffs who need cash now, prior to settlement. If you have a case in New York, you will likely qualify for lawsuit funding.
Do You Need a Lawsuit Loan in New York (NY)?
New York lawsuit funding is normally used to pay for expenses such as:
- car loans
- medical bills
- school tuition
- monthly living expenses
- medical treatment and surgery
- and others . . .
In fact, there are no restrictions on the use of a NY lawsuit loan. The money can be used as you wish. After all – it is your money.
If you need cash now while waiting for your case to settle, we can provide NY settlement funding to help you while your case is litigated. We work with our NY lawsuit funding clients to secure lawsuit settlement funding cash in as little as 12 hours.
What Types of Cases Qualify for NY Lawsuit Loans?
As long as you are a plaintiff in an ongoing New York lawsuit, you can apply for for NY lawsuit funding. Below is an list of some of the cases we’ve funded in the past:
- Animal & Dog Bites
- Amusement Park Accidents
- Automobile Accidents
- Asbestos Cases
- Aviation Accidents
- Bicycle Accidents
- Boating Accidents
- Bus Accidents
- Construction Accidents
- Defective Products
- Maritime cases
- Medical Malpractice
- Motorcycle Accidents
- Motor Vehicle Accidents
- Nursing Home Negligence
- Pedestrian Accidents
- Premises Liability
If You Have Any Questions, Call 888-964-2224
WE ARE HERE TO HELP YOU!
How Much Money is Available?
New York lawsuit loans amounts can vary. The amount of your lawsuit loan approval depends on the facts of your case, extent of your damages and our assessment as to the likely settlement value of the case.
Until we review the specifics, we cannot quote an exact amount. As a general rule however, NY lawsuit loans approvals represent 10-15% of the estimated settlement value of the case. That is, we will likely approve up to 15% of what we subjectively believe your case will ultimately settle for.
How Much Do New York Lawsuit Loans Cost?
There are many companies willing to advance cash on the potential proceeds of a lawsuit. However, Fair Rate Funding provides settlement funding to clients at lower “preferred” rates than other companies in our industry.
Some competitors charge exorbitant fees ranging from 3.50% to 4.99% compounded monthly. These large fees sometimes hinder settlement negotiations or thwart settlement efforts altogether.
Fair Rate Funding charges a “fair” rate of 18% of the contract amount every six (6) month period thereafter for preferred cases.
NY Pre-Settlement Funding Types
People involved in personal injury and other lawsuits in NY and are waiting for their case to be resolved can seek NY lawsuit loans. Below are some common NY settlement loan types.
NY Plaintiff Lawsuit Loans
A pre-settlement cash advance can occur any time after a plaintiff’s personal injury attorney files a claim with the defendant’s insurance carrier or a Complaint in state or federal court.
NY Settled Case Funding
Also called settled case loans or post settlement loans, NY settled case funding occurs after a Release is signed but before the plaintiff receives his/her settlement proceeds.
NY Verdict Funding
Also called an appeal funding, cases won at trial still may face a lengthy appeal process. Litigants can access funds at this time through Fair Rate Funding’s New York Verdict Funding programs.
Getting Started with New York Lawsuit Loans
We know you have a choice of lawsuit settlement funding companies and are happy to assist you. To obtain New York lawsuit settlement funding in the quickest and easiest manner, please fill out the quick application on this page. We will contact you immediately and begin the process. You can then relax and allow Fair Rate Funding to work for you. We routinely provide settlement funding for NY personal injury lawsuits within 24 hours of receiving the paperwork from your attorney.
We provide settlement funding services for lawsuits in the following states: Alabama, Alaska, Arizona, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, Wyoming and the District of Columbia.
Thank you for choosing Fair Rate Funding for your New York Lawsuit Loans.
Call 888-964-2224 for NY Lawsuit Funding Now!