Fair Rate Funding is known as a leader in the lawsuit funding business. We specialize in Ohio lawsuit loans (OH Lawsuit Funding) for clients who reside in the state of Ohio. If you are involved in an Ohio (OH) lawsuit and are in need of immediate cash, you can apply for OH lawsuit funding and have cash in hand within one business day!
The Need for Ohio Lawsuit Funding
Traffic accidents, which include car wrecks, motorcycle accidents, truck crashes, injured pedestrians, and bicycle collisions are a common in Ohio. Many of these accidents result in fatalities. According to the Ohio State Highway Patrol Statistics, there were 1,244 fatal crashes in 2021.
Many of the traffic accidents in Ohio are the direct result of negligence. When someone is distracted by their phone, driving while intoxicated, or speeding, they breach a duty of care to other drivers on the road.
Fortunately, we have laws that protect the injured when an accident is caused by the negligent action or inaction of another person or a entity.
In Ohio, and throughout the United States, state and federal laws protect individuals who have been harmed by another in tort. Negligence lawsuits are based upon these laws which allow injured parties to seek monetary compensation through the legal system. Thousands of Ohio personal injury lawsuits are filed in the Ohio court system every year. That’s the good news.
More About Ohio Negligence Law
The Commonwealth of Ohio operates under a modified comparative fault rule for negligence lawsuits. Cases involving a slip and fall or automobile accident fall under the negligence category in which a person is harmed because another party (person or entity) breached an established duty of care and that breach caused injury.
Under this rule, an injured party cannot be more at fault than another party and still recover from the case. In other words, the defendant must be at least 51% at fault. If the injured party (plaintiff) was 50% or less at fault, he or she can still recover damages but the award is normally reduced by the percentage amount of fault.*
Accident Victims Face Challenges
Accidents can quickly change lives. Accident victims usually deal with physical and emotional trauma. Some face financial difficulties as well. When injured, medical bills can quickly multiply—especially if hospitalization is required. Bills for surgical and other procedures can also add up rapidly. That’s the bad news.
In addition, many plaintiffs are forced to accept low ball settlement offers simply to try to ease their financial burdens. If they have the means to pay their obligations while their attorneys pursue the case, they would receive just compensation. Ohio lawsuit loans can help.
What is an Ohio Lawsuit Loan?
Lawsuit Funding, also known as lawsuit loans or settlement loans, are financial transactions where a plaintiff sells a portion of the future proceeds of his lawsuit in exchange for an immediate sum of cash. Fair Rate Funding specializes in Ohio lawsuit loans for personal injury and other plaintiffs.
If You Have Any Questions, Call 888-964-2224
Who Can Apply for Lawsuit Funding in Ohio?
Ohio lawsuit loans are typically used to help pay for expenses and other costs while the lawsuit is litigated. At Fair Rate Funding, we diligently work with our Ohio lawsuit funding clients to secure cash quickly.
Fair Rate Funding specializes in Ohio lawsuit funding (OH Lawsuit Funding) for personal injury plaintiffs. If you are involved in a car accident, slip and fall, premise liability, medical or legal malpractice case or any lawsuit in which your lawyer is paid only if he wins your case, we can help you get cash now to help cover your living expenses. We also provide attorney lawsuit loans to attorneys in need of better cash flow solutions.
An Ohio pre-settlement cash advance is available 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.
Fair Rate Funding specializes in OH lawsuit funding for the following types of Ohio lawsuit loans:
- Car Accident Settlement Funding
- Slip and Fall Lawsuit Settlement Loans
- Burn Case Settlement Loans
- Verdict Lawsuit Loans
- Premises Liability Lawsuit Funding
- Product Liability Settlement Funding
- Settled Lawsuit Loans
- Medical Malpractice Settlement Loans
- Jones Act Settlement Funding
- FELA Lawsuit Funding
- And more…
Is Ohio Lawsuit Settlement Funding Regulated?
Ohio is one of the a few states that regulate Ohio lawsuit loans within their jurisdiction. The regulations are codified in Ohio Rev. Code Ann. § 1349.55. The regulations require lawsuit loan companies to inform potential clients the company cannot participate in any decision making regarding the case. There are currently no regulations for use or other fees, interest rate calculation or the length of time charges can accrue. The law does require specific disclosure language to be included on funding contracts to protect the public.
Is There a Difference Between Loans and Lawsuit Loans?
Most people understand what’s involved when they apply for a bank loan. A bank loan, for example, might require proof of income, employment status, assets and liabilities. The loan officer will request recent tax returns and will run a credit background check. If approved, weeks might elapse before the loan “closes” and you get your money. Further, the borrower usually begins repayment immediately with interest.
Lawsuit loans however are an “advance” on future settlement proceeds of the case. Because repayment is based solely on the outcome of the case, no proof of income, employment, or credit checks are necessary.
Perhaps the biggest difference between loans and lawsuit loans is that repayment ONLY occurs if the case is successful. If the plaintiff loses the case, the money is not repaid and the plaintiff is under no further obligation.
How Long Does it Take to Get the Money?
Typically, Ohio lawsuit loans take anywhere from 1 to 5 days from the time of application. We routinely fund clients the same day. However, most cases take longer than a day. Once the documents are reviewed and attorney conference occurs, clients should expect an answer the same day or the next morning.
How to Apply for Ohio Lawsuit Loans?
Fair Rate Funding Legal Funding extends OH lawsuit loans, legal loans and settlement funding throughout the US and Ohio including the cities of:
- and other municipalities.
Your Choice for Ohio Lawsuit Loans
We know you have a choice of lawsuit settlement funding companies and are happy to assist you. Once you apply, we will contact you immediately and begin the process. You can then relax and allow Fair Rate Funding to work for you.
In additional to Ohio lawsuit loans, Fair Rate Funding provides lawsuit funding services in the following states:
Alabama, Alaska, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Maine, Massachusetts, Michigan, Mississippi, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Utah, Vermont, Virginia, Washington, Wyoming and the District of Columbia.
Thank you for choosing Fair Rate Funding for Ohio lawsuit loans.
* Consult with your personal injury attorney for counsel of your rights and obligations under the law as Ohio laws can and do change frequently.