Settlement Funding for Pedestrian Cases
Fair Rate Funding helps clients obtain pedestrian accident loans on their personal injury lawsuits. Pedestrian accident lawsuit settlement loans are advances prior to settlement.
Tens of millions of pedestrians walk the streets every day. Traffic signs, signals and local rules help to keep most pedestrians safe. Yet accidents do happen.
According to the Center for Disease Control and Prevention (CDC), over 100,000 pedestrians visited American emergency rooms for non-fatal crash related injuries in 2020. This is in addition to the over 7,000 pedestrians killed in accidents involving motor vehicles.
Pedestrian Injury Lawsuits and Negligence
Pedestrian accidents often involve very severe injuries. Accidents of this nature sometimes result in lawsuits designed to compensate victims for their damages. Pedestrian injury lawsuits sometimes involve catastrophic injuries leaving the victim disabled or otherwise severely damaged.
Like car accident cases, pedestrian accidents often involve significant injuries. The degree to which the victim is injured will impact the settlement value of the case. In order to be successful in a personal injury case, the plaintiff must still have:
- Ability to pay (insurance coverage)
For a case to be successful, liability, damages and insurance coverage must be present. That is, the injured pedestrian must prove the defendant breached a duty of care and that breach resulted in personal injury. And while many defendants have significant assets from which to pay damages, for purposes of lawsuit settlement funding, adequate insurance coverage is required for a successful outcome.
The Need for Pedestrian Accident Lawsuit Loans
Pedestrians have little protection when struck by an automobile. In all lawsuits involving severe injuries, including pedestrian cases, medical treatment is extensive. As a result, the time needed to obtain Maximum Medical Improvement (MMI) could last years.
This time delay is an aspect of the civil litigation process. The effect on plaintiffs is significant because while the lawsuit progresses, plaintiffs sometimes endure severe emotional and financial stress. Some extra money usually can ease these burdens. Pedestrian lawsuit loans can help!
What are Pedestrian Accident Loans?
Pedestrian accident lawsuit loans are financial transactions where plaintiffs get a portion of their settlement prior to the case’s resolution. In other words, plaintiffs get cash now and promise to pay a lawsuit settlement funding company a portion of settlement value when the case is won.
What is the Purpose of Pedestrian Accident Funding?
The purpose of lawsuit funding is to allow plaintiffs to endure the long, drawn out litigation process. Plaintiffs use the funding to pay for:
- medical treatment
- living expenses
- rent or housing
- car payments
- past debts
- and more
Without the need to settle the case quickly, plaintiffs can refuse low-ball settlement offers by financially strong insurance companies who use injured victims money situation to pressure quick and unfair settlements.
How Does Lawsuit Funding Work for Pedestrian Injury Lawsuits?
If you have a lawsuit based on an auto accident or a motor vehicle case and have a lawyer representing you on a contingency fee basis, which means the attorney is only paid if you win the lawsuit, you will probably be eligible for lawsuit settlement funding from Fair Rate Funding. The process goes like this:
- You apply with us and give us some details about your case
- We contact your attorney and compile some necessary paperwork. As you might guess, the documents requested show liability, damages and ability to pay.
- The documents are reviewed and a lawsuit funding underwriter calls your attorney to speak about the case.
- When the case is approved, a contract is drafted and forwarded for your signature.
- Once the contract is returned, you are funded via overnight courier or direct deposit into your bank account.
If you need cash now while waiting for your case to finish, Fair Rate Funding provides the best settlement funding deals based upon your case’s value and your likelihood of success. Given the severe nature of these cases, most injured pedestrians are approved for an advance.
What Happens If I Lose the Case?
Lawsuit loans for pedestrian and other accident cases are non-recourse transactions. Although referred to as “lawsuit loans”, these transactions are not actually loans in the traditional sense. The difference between loans and lawsuit loans are significant. The most important difference is that a lawsuit loan is NOT repaid if the case is not successful. In other words, if you don’t win, you don’t own us anything.
If you recover less than expected and cannot repay the advance in full, you will never owe us any more than your settlement amount. We cannot pursue you for payment beyond your settlement. This is what we mean by “non-recourse” transactions.
How Can I Begin the Process?
To obtain settlement funding in the quickest and easiest manner, please fill out the quick application. We will contact you immediately and begin the process. You can then relax and allow us to work for you. We routinely provide settlement funding for Pedestrian lawsuits within 24 hours of receiving the paperwork from your attorney.
We provide settlement funding services for Pedestrian cases for the following states: Alabama, Alaska, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, 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, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, Wyoming and the District of Columbia.
Thank you for choosing Fair Rate Funding for lawsuit funding of your pedestrian case.