lawsuit settlement funding

August 16, 2018 by PMCESQ

On occasion, we are asked what benefits a lawsuit settlement funding company can offer personal injury attorneys whose clients need of lawsuit settlement funding. That is, clients who have an immediate need for cash but who have already exhausted or otherwise do not have other avenues of cash currently available to them.

Even the best lawsuit loan companies sometimes meet resistance from law firms when their clients apply for a cash advance. The reasons usually revolve around a negative stigma attached to the litigation finance industry with regard to price AND the idea that counseling clients with regard to financial transactions is usually outside the scope of their representation.

Below I address the top 5 things attorneys should know about the lawsuit settlement funding business in an effort to address some of these concerns.

Not All Lawsuit Settlement Funding Terms are Oppressive.

The lawsuit settlement funding industry has evolved since its inception approximately 15 years ago. Not only have origination and processing systems become more efficient, but there is also much more competition in the marketplace. Thus, lawsuit advance outfits are forced to take a more competitive approach to pricing. In fact, case loans are routinely offered at lower pricing structures than at any other time previously. All of this has occurred in an unstable economic climate.

lawsuit settlement funding

Today, it is not uncommon for lawsuit advances to be offered for up to 12% of the case’s value. And for less than it costs for an advance on a credit card. Of course, there are some lawsuit settlement funding companies who have different portfolio objectives and must charge more expensive “rates” and fees to meet their objectives.

Rate is of Paramount Importance when Settling the Case.

Lawsuit settlement funding operations are well aware of the need to settle cases. Attorneys who work on a contingency fee basis, such as personal injury lawyers, understand the best interests of all parties are served if the case settles before trial. Most plaintiff attorneys would agree even if a favorable verdict is reached, they still have to spend considerable time and money pursuing justice in the appellate courts. Lawsuit funding professionals, many who are attorneys themselves, are intimately aware of this fact.

Therefore, lawsuit settlement funding liens rarely inhibit settlement. In fact, many steps are taken to ensure this unfortunate circumstance remains the exception rather than the rule. One such example is the limiting of the “lawsuit loan” to 10% of the estimated value of the case. With today’s rates and fees, an advance would normally fail to reach a level where the plaintiff and his attorney would be unable to settle the matter because of the lien.

Further, funding companies are usually flexible for purposes of settlement. If an unforeseen issue arises which would negatively impact the ability to recover damages, funding outfits – like most investors who want to ensure the safety of their risk capital first – would be likely to compromise the requirements of their contract in an effort close the file and move on.

Lawsuit Funding Applicants Need Attorney Cooperation.

The whole process of offering money against the future proceeds of a legal proceeding depends on the participation and cooperation of plaintiff’s counsel. From the moment an applicant requests funds, the attorney’s participation is required. First, his office must forward the relevant documents supporting the claim. Next, a conversation between the funding company and the attorney must occur prior to approval. Once approved, attorneys must then acknowledge the lawsuit settlement funding agreement and recognize it as a valid lien on the file. The transaction is finalized and matter concluded when the attorney forwards a check from his trust account directly to the funding company.

I am unaware of any funding operation which will advance money against a lawsuit without the attorney participating in the transaction, at least on a limited basis. Without attorney participation, the funding process simply cannot happen.

Clients Need Speed.

The majority of lawsuit funding clients need money immediately. It is doubtful any attorney who practices personal injury law has not had a client request an advance on his case. Of course, many state ethical rules prohibit this type of assistance. Yet that hardly helps plaintiffs who are behind on their bills or otherwise have financial difficulty.

What attorneys should realize is the process can and will move smoothly if the documents requested are forwarded in a timely manner. Most lawsuit loans are approved with less than 30 pages of documentation being analyzed. These papers can be faxed or emailed with minimal amount of time spent on the part of the lawyer or his support staff. This makes the approval process move quickly so the pre-settlement funding company can do its job and the client can get much needed relief as soon as possible.

Similarly, approvals for many lawsuit settlement funding applications, especially the larger deals, depend heavily on a successful conversation with the attorney about the merits of the case and other relevant issues. Realizing an attorney’s time is limited and valuable, lawsuit settlement funding underwriters do whatever is necessary to keep the conversation focused on only the most material considerations.

Keeping it “short and sweet” helps funders, attorneys, and clients alike by keeping the process moving along. The sooner the case can be underwritten, the sooner the client can get the help he needs. The attorney gains the reward of a grateful client and another task deleted from his list.

Lawsuit Settlement Funding is a Business.

Attorneys who have clients wishing to obtain money from litigation finance professionals should keep in mind the business of offering legal loans is exactly that – a business. Like any other business, there are origination costs in the form of advertising or other marketing efforts, cost of inventory (money), and administrative expenses just to name a few. Further, it is the goal of any service based business to provide the service and turn a profit.

I mention this because many attorneys feel the need to negotiate the terms of a lawsuit funding transaction AFTER the case settles. Understandably, plaintiff’s counsel will try to negotiate all liens if it increases the chance to settle a case. However, some attorneys want to negotiate the payment terms after a settlement is in place simply because they feel they can.

The appropriate time to negotiate is before an agreement is executed, not after. Further, offering the lawsuit settlement funding company its money back, for example, is not operating in good faith. It is simply good business to allow a business to turn a profit. As we all know, a win – win scenario is the goal. If any business is not allowed to make money, it will soon be out of business. Lawsuit settlement funding is no different.

Fortunately, the pre settlement finance business is becoming more efficient every day and offers clients the ability to weather the financial storm while the case is being litigated. In other words, lawsuit settlement funding is part of the personal injury game. A game that keeps reinventing itself from year to year. Though many changes arise, the main goal remains the same – to help clients achieve justice.

Thank you for your interest in the lawsuit settlement funding business.

June 16, 2015 by PMCESQ

A Lawsuit Loan Offers Immediate Financial Relief to Plaintiffs Who Need Cash Now!

The lawsuit loan, also known as lawsuit funding or pre-settlement funding, is quite a unique investment. The structure of the lawsuit loan allows investors to assist plaintiffs in ongoing litigation with immediate cash to help pay their expenses while the lawsuit is litigated. Wherever there is a need, you will find entrepreneurs trying to fill that need. In any business, there are costs associated with providing the service or product. The lawsuit loan business is no different.

Occasionally, critics target the lawsuit loan industry as too expensive or predatory to those who are desperate for financial resources. Despite these claims against the cost of the lawsuit loan, the cost of the transaction simply represents the cost of providing the service for profit. Lawsuit loan “rates” are certainly larger than mortgage rates or car loans. But major differences separate these types of monetary transactions. In truth, a lawsuit loan is far different than a car loan or a mortgage – regardless of the use of the word “loan”.

Lawsuit Loan is a Misnomer

The term “loan” implies repayment at some point in the future. Car loans, home loans, and others are “secured” by collateral. That is, the car or home can be “repossessed” and sold by the lender to satisfy some or all of the loan principal and costs.

To be sure, other loans are not collateralized, and as such are deemed “unsecured loans”. Simply because a loan is unsecured however, does not necessarily mean that the lender has no recourse. In fact, unsecured debt is collected in a myriad of ways after a borrower defaults on his obligation. It is not uncommon for judgements to be entered and wages garnished in collection of unsecured debt.

Contrast this with the non-recourse nature of a lawsuit loan. In a lawsuit loan transaction, no collateral is offered. The client assigns a portion of the proceeds of the lawsuit to the funding company in exchange for a present sum of money. Because the transaction is structured in this manner, the only transfer of value for purposes of collection, occurs if the lawsuit is successful. Therefore, lawsuit loan deals are deemed “non recourse” which means the lawsuit loan company cannot collect directly from the client in the event the lawsuit is lost.

The failure of clients to be personally liable for the repayment of a lawsuit loan makes it a more risky proposition for investors. That risk must be represented in the pricing and is a major reason why a lawsuit loan costs what it costs.

Lawsuit Loan Risk Assessment Reduces Cost

15 years ago, when the lawsuit loan business was at its infancy, lawsuit loan companies charged high rates and fees for lawsuit cash advances. The cost of a lawsuit loan has decreased since that time since more historical data became available. With this data, investors were better able to assess the risk of loss and expected return. Until only a few short years ago, investors were ‘flying blind’ in an investment arena without a suitable data set of historic returns.

While cost is lower than in years past, the average lawsuit settlement loan still commands a higher cost than a car or home loan. But this is true because the two are entirely different transactions as discussed above. For example, a car loan is secured debt which means that if payments are not made, the creditor can repossess the vehicle in partial payment of the loan. Further, the lender can collect on the loan by attaching a claim on any other asset the client might own.

Conversely, a lawsuit loan is called “non-recourse” in that if there is no recovery, the advance does not have to be repaid. The lawsuit funding company purchases a portion of the proceeds of the case. So the transaction is really a asset purchase instead of a loan. If the lawsuit is unsuccessful however, the investor has NO claim against the plaintiff.

As the lawsuit funding business evolves, it becomes more efficient. Because of competition, this efficiency is reflected in pricing. And the savings are ultimately passed on to the client. Perhaps this is the most important reason why the quality of cases ultimately approved for a lawsuit loan is increasing and the price points for these “preferred cases” is decreasing.

Thank you for your interest in the lawsuit loan business.

May 29, 2015 by PMCESQ

Lawsuit settlement funding companies field hundreds of questions each day. One frequent question asked by plaintiffs is “Why do lawsuits take so long to finally a settlement?”

Of course, there may be many reasons. One major reason relates to the complexity of litigating a personal injury lawsuit. Indeed, both plaintiffs and defendants must jump through many “hoops” in order to prove or defend a lawsuit.

Lawyers attempt to represent the best interests of their clients and navigate the applicable laws and rules in order to protect them. They know what the procedures are and follow the rules to move things along as quickly as possible. Without attorneys, plaintiffs would be lost in a sea of rules and regulations, much of which they could not possibly understand without proper training.

Typically, lawyers meet with their clients, then communicate with the other side’s attorney. After investigation, the lawyer and client will decide what course of action to take – one of which is whether to file a formal complaint or to try to settle without going through the court system.

If the plaintiff decides to file a complaint, the fun has just begun. In most civil actions, such as personal injury cases, court rules call for the parties to exchange pertinent information about the case. This is the part of the lawsuit known as “discovery” and could take years to complete depending on the type of case, length of treatment, etc.

In some personal injury cases, a judge sets forth a schedule of deadlines. Each one represents an important step that must be followed. Most of the time, these dates are anywhere from 30 to 60 to 90 days apart. During the process, both parties answer written questions asked by the other side called interrogatories. They must be answered truthfully and by a deadline. After that, lawyers are allowed to talk to witnesses for the other side, but only with the other attorney present. These sessions are called depositions and they are often delayed due to the scheduling conflicts of attorneys, clients, and/or expert witnesses.

Sometimes lawyers disagree about different procedures they must follow. This can result in another delay because matter must be presented to a judge for a decision. In some jurisdictions, it could delay the proceedings several months just to present the specific issue to the court.

Once discovery is complete and as the trial date approaches, the parties attend a special meeting called a pre-trial conference. The purpose of this meeting is to map out a how things will proceed. Many final issues as to the admissibility of evidence for example, are decided at this time.

Afterwards, the trial ensues and will most likely take a least a week to decide. Then post trial motions are heard and depending on the circumstances, an appeal may be heard, since both parties have the right to appeal.

Even when all of these steps are concluded, there is a certain amount of time that must pass before plaintiffs receive their money. Sometimes the recovery is paid in a lump sum. Other times, it is structure to be paid in installments.

Lawsuit Settlement Funding Bridges the Gap

With all of the intricacies of litigating lawsuits, it is no wonder why settlements take more time than one would expect. One question naturally arises from this process: What are litigants to do if they encounter financial difficulties while the case progresses?

Plaintiffs often find other means of financial support. One such solution is lawsuit settlement funding.

Lawsuit settlement funding is a financial transaction where a plaintiff sells a portion of the future proceeds of his/her lawsuit in exchange for cash now. When the case is settled or otherwise successfully resolved, the lawsuit settlement funding is repaid to the funding company.

Lawsuit settlement funding should not be confused with a loan, although sometimes lawsuit settlement funding is referred to as “lawsuit loans” or “settlement loans”. The term “loan” implies that the money must be repaid at some point in the future.

Alternatively, the lawsuit cash advance (lawsuit settlement funding) is non-recourse, which means that if for ANY reason the lawsuit is not successful, the lawsuit settlement funding is not repaid.

Clearly, lawsuits can take time. When plaintiffs need lawsuit settlement funding to meet financial obligations, Fair Rate Funding is there to help. When you qualify for a settlement loan, we provide you with money. After the trial is over, or if the case settles during the litigation process, the money is repaid. There are absolutely no up front costs to pay and no restrictions on the money’s use.

Thank you for your interest in the lawsuit settlement funding business.

November 6, 2014 by PMCESQ

A FedEx truck driver has filed suit against the city of Memphis and its former Police Chief after an auto accident on June 23^rd.

The civil action lawsuit, filed in Macomb County Circuit Court, stems from a two-car accident which left both vehicles totaled and left the FedEx truck driver, Sean Wood, seriously injured.

Former Police Chief, Beels Koveck, was driving a city police vehicle at the time of the accident. According to police reports, Koveck ran a stop sign on a gravel road and slammed into the side of Wood’s FedEx truck, sending the struck vehicle careening into a nearby ditch. Despite being found at fault, Koveck did not receive a citation from Michigan State Police who responded to the accident.

Woods suffered significant injury in the crash, requiring extensive corrective surgery to his ALS. Woods has been unable to return to work following the accident owing to his injury. Woods is seeking damages for pain and suffering, medical expenses, legal fees, and for lost wages.

“She admitted she ran the stop sign and witnesses state it was at a high rate of speed with no attempt to stop” said Christian P. Collis, Woods’ attorney, “So I don’t think it will be hard to show… gross negligence.”

Auto Accident Settlement Funding Helps Plaintiffs With Cash Now

That being said, Woods still has a long and difficult court battle ahead of him. Filing a lawsuit against a public official can result in a protracted and messy proceeding. As the case drags on, Woods’ medical cost fees will begin to mount, putting increasing pressure on him to accept an early ‘low ball’ offer as final settlement.

Settlement funding from Fair Rate Funding could help someone in Wood’s position endure the financial hardships of an extended legal battle. Auto accident settlement funding is a non-recourse cash advance available to plaintiffs in a variety of civil suit proceedings, including automobile accident suits. Settlement funding provides money in anticipation of a successful settlement of judgment; money that can be used to pay medical expenses, to compensate for lost wages, or for any expenditure the applicant decides. And if the borrower fails to win their case, the funds do not have to be paid back.

Unlike traditional loans, Auto accident settlement funding is awarded based on the strength of your suit, not your credit or employment history. The funds can be made available as little as 24 hours and there are no upfront fees associated with securing settlement funding. You don’t pay until you win your case. And if you don’t win, you are not required to repay anything.

If you or someone you know is going through the long and costly process of fighting for a fair settlement in an automobile accident lawsuit, consider obtaining Auto accident settlement funding. It can give you the financial flexibility to keep up your fight without feeling the pressure to settle for less than you deserve.

https://www.voicenews.com/articles/2014/10/28/news/doc544abba1dbda3657486895.txt

November 3, 2014 by PMCESQ

A staffer at a Chelsea homeless shelter has filed suit against the city of New York and the shelter itself after being repeatedly harassed and finally groped by clients of the shelter.

Irene Spear, age 42, filed suit against NYC and BRC Shelter on West 25^th after she claims to have been assaulted by clients while working for the shelter. Spear had been working for the shelter since 2011. Her job responsibilities included keeping track of about 50 male residents, escorting them to receive medication or to the cafeteria for meals. Spear claims that much of the time she was made to supervise the residents by herself, or else with the assistance of a single other female employee. Spear claims she was always concerned about the security of the shelter, and voiced her concerns to supervisors.

Spear’s suit comes after an incident in April of 2013, when 26 year old Jeorge Smith, a resident of the shelter, groped her butt and leg while she was putting away a chair in the shelter’s T.V. lounge. According the lawsuit, there were no security guards on the floor at the time, and Spear had to escort herself to the office to call the police while Smith followed, laughing the whole time.

This was not Spear’s first encounter with sexual assault while working for the shelter, either. Back in 2012, a male resident forcibly kissed her on her cheek while in an elevator. Spears reported the assault to her supervisor who, for unknown reasons, chose not to report the incident to the police.

Since the latest attack, Spear is unable to work and is undergoing therapy to cope with panic attacks. She claims to have fallen on financial hardship as a result of the lawsuit and is now homeless herself.

Sad as Spear’s story is, it exemplifies the extent to which a civil proceeding can affect a person’s finances. In cases like this, where the sheer financial burden of a court proceeding begins to negatively affect a plaintiff’s well-being, securing third party lawsuit funding could provide a plaintiff with the financial support they desperately need.

Third Party Lawsuit Funding Offers Financial Assistance to Plaintiffs

Third party lawsuit funding from Fair Rate Funding can be made available to plaintiffs in a variety of civil lawsuits. Settlement funding provides a cash advance; money that can be used to pay medical bills, legal fees, or any other expense. These funds do not have to be paid back unless the plaintiff wins their case.

Third party lawsuit funding, unlike a traditional loan, is awarded based on the strength of your suit, not your credit or employment history. The funds can be made available and accessed in as little as 24 hours and there no upfront fees required to secure settlement funding, which means that even cash strapped plaintiffs can turn to Fair Rate Funding for assistance.

For those involved in long and costly lawsuits, third party lawsuit funding could be the support you need to keep up your fight for a fair judgment or a better settlement. Don’t fold under pressure, let Fair Rate Funding help!

https://www.dnainfo.com/new-york/20141028/chelsea/worker-at-controversial-chelsea-mens-shelter-groped-harassed-suit

October 30, 2014 by PMCESQ

An 87 year old California man recently filed a product liability lawsuit against Janseen Research and Development and Bayer Healthcare after suffering serious side-effects from the use of their drug, Xarelto.

The unnamed plaintiff filed the lawsuit on October 9, 2014, in the United States District Court, Northern District of California. The plaintiff seeks compensation for severe and lasting personal injury, physical and mental pain and suffering, medical bills, and legal fees. In total, the lawsuit claims $10 million in damages.

The plaintiff was ordered by his doctor to take Xarelto, a powerful anticoagulant, in 2012. After beginning treatment with the drug, the plaintiff suffered a gastrointestinal bleed. His lawsuit claims the injuries were directly caused by his use of Xarelto.

Xarelto is one of the highest selling anti-coagulants on the multi-billion dollar market. Links between Xarelto and related medical issues are well documented. This lawsuit is far from the first to be levied against the drug manufacturers. Many plaintiffs in these cases experienced a long fight while only a slim percentage have seen any monetary relief.

Product liability lawsuit can be extremely lengthy and difficult, often taking several years to reach a conclusion and costing plaintiffs significant sums in legal fees over the course of their duration. The parent companies of the products in question are heavily invested in the defense of their assets, and will expend every possible effort to prolong the eventual payout or absolve themselves from responsibility.

But while companies like Bayer and Janseen have their own legal departments and resources to empower their legal battles, plaintiffs are far from powerless. Several legal resources exist to help plaintiffs ‘stay the course’ and realize better settlements, one of which is product liability settlement funding.

Product Liability Settlement Funding Gives Cash Now to Plaintiffs

Settlement funding, or lawsuit funding, provides plaintiffs in lawsuits with a cash advance to help them weather the financial burden of a protracted court proceeding. And as product liability settlement funding is not a traditional loan, current employment and credit history are not factors in the underwriting. Unlike a traditional loan, the only concern for a settlement funding lender is the likelihood of a successful outcome.

Securing product liability settlement funding requires no upfront fees or incremental payments. A cash advance can be made available in as little as 24-hours, once the determination has been made to provide a plaintiff with settlement funding.

And unlike traditional loans with monthly payments, the “borrower” of settlement funding is not required to pay anything until settlement is reached or judgment rendered. Should the plaintiff receive monetary compensation; the “lawsuit loan” payment is taken right out of the settlement.
Should the plaintiff lose the case, they are not required to pay anything, including the original advance amount.

For those involved in a product liability lawsuit, securing settlement funding could help to hold-out and receive a better judgment or settlement. A product liability lawsuit can be a very long and trying process; keep up the fight with product liability settlement funding.

https://injurylawyer-news.com/2014/10/california-man-sues-xarelto-bleeding-injuries/

October 20, 2014 by PMCESQ

The father of a young Chicago woman seriously injured in an automobile accident has filed lawsuit against the driver of the vehicle.

Kelsey Ibach, a 25-year-old journalism student at the University of Michigan, and several of her friends were out for a night on the town, visiting several River North nightclubs. In the early hours of the morning, Kelsey’s group decided to call it a night. They were offered a ride home by 28-year-old Robert Cho. According to police, Cho was heavily intoxicated at the time and was not fit to operate a motor vehicle. Cho was apparently driving well over the speed limit when he crashed into a pole and through a fence before finally coming to rest, upside down in a ditch nearly 20 feet from the road.

Cho was uninjured in the crash and allegedly fled the scene on foot immediately after; not even stopping to call emergency services. His passengers, and Ibach in particular, were not so lucky. Ibach suffered a crushed spine and pelvis, broken ribs, a punctured lungs, and a blood clot in her brain. Ibach has been confined to a wheelchair since the accident and must undergo rehab several hours a day.

The Ibach family has filed lawsuit against Cho, as well as two of the clubs he had allegedly visited on the night of the incident, The Mid and Hubbard House. The lawsuit also names the entertainment company whom Cho works for.

Cho has already faced criminal charges stemming from the accident for several traffic related counts as well as for failure to report an accident. It would seem, in the light of such damning evidence, Ibach’s case should be a open and shut affair. Unfortunately, the realities of an auto accident lawsuit are not always cut and dry.

The Ibachs will face a long and costly court battle in order to realize fair compensation for their daughter. Over the course of that battle, expenses will grow and Kelsey’s medical expenses will mount. With the added financial pressure, the Ibachs may be pressured into accepting a settlement offer for far less than they are seeking. Securing Illinois settlement funding could provide the Ibachs with the financial support to keep up their fight and realize a fair recovery.

Illinois Settlement Funding Helps Plaintiffs in their Time of Need

Fair Rate Funding, a national settlement funding company with some of the lowest rates in the industry offers settlement funding to plaintiffs in auto accident lawsuits. Illinois settlement funding provides plaintiffs in civil lawsuits with a cash advance to help them weather the financial hardships associated with court proceedings.

Settlement funding differs from traditional loans in several ways. Where a traditional loan would require incremental payments, settlement funding stipulates that no payments need to be made until a judgment is rendered. And if said judgment goes against the favor of the borrower, they are not required to pay back anything.

Additionally, settlement funding in Illinois and other states, is structured in such a way that factors such as employment history and financial standing, which may keep a plaintiff from securing a personal loan, are not taken into consideration. Rather, the validity of the lawsuit and the likelihood of its success is the only concern.

Settlement funding provides plaintiffs with the financial backing and flexibility to see their case to completion and realize a fair reward. If you are involved in an auto accident lawsuit, consider acquiring Illinois settlement funding from Fair Rate Funding. Court can be a battlefield, and lawsuit funding can provide you with the financial ammunition to fight for your rights.

https://abc7chicago.com/news/family-of-woman-paralyzed-in-crash-files-lawlawsuit-against-driver/345630/

October 2, 2014 by PMCESQ

Yvone and Ronald Rouse filed a wrongful death suit against several local and state agencies after the death of their son, Ronald.

Ronald Rouse, an 18-year-old senior and football player at Hartsville High School, was playing in a home game against Crestwood High on Oct. 5, 2012 when he called a time-out and suddenly collapsed. Rouse was revived by the school’s athletic trainer and began to walk off field when he collapsed a second time, this time for good. Rouse was pronounced dead at Carolina Pines Regional Medical Center.

Rouse’s parents are claiming in their lawsuit that the South Carolina and Darlington County Board of Education, Hartsville High School, South Carolina High School League, Lake Robinson Rescue Squad, Darlington County Emergency Prepardness and Darlington County exhibited negligence in their policies and action throughout the series of events that lead to Rouse’s death. The family demanded a jury trial for the case.

According to the family, a physical taken by Rouse on May 15, 2012 at the Hartsville High School showed the teen had high blood pressure. The physician even went as far as to circle the teens 157/74 blood pressure reading. However, Rouse was approved or ‘cleared’ to participate in all sports,” the lawsuit states.

The suit goes on to state Rouse was never made aware of having high blood pressure, and that Rouse complained of feeling faint during periods of physical stress at the time.

Given the sheer number of defendants named in the lawsuit, Rouse’s parents are in for a long, hard-fought court battle. As the battle drags on, financial pressures may mount and they may begin to feel the pressure to settle for a lower amount.

Should that happen, securing settlement funding may help them to ‘stay the course’.

Wrongful Death Settlement Funding in South Carolina Accident Cases Help Plaintiffs with Cash Now for Their Lawsuit

Settlement funding provides lawsuit cash advances for plaintiffs undergoing wrongful death cases in order to help them hold out for a better settlement offer. The money provided by wrongful death settlement funding is ‘non-recourse’, meaning that it does not have to be repaid in the event of a lost case. The money can also be spent in anyway the recipient deems appropriate.

For plaintiffs in wrongful death lawsuits, settlement funding helps them hold out for just compensation. With bills paid and the pressure to settle quickly removed, plaintiffs have the monetary flexibility to reject ‘low ball’ settlement offers simply because they are out of cash.

Because settlement funding is not a traditional loan, employment history and financial standing are not taken into consideration. Rather, the only concern is the validity of the lawsuit and the likelihood of its success.

Once the determination has been made to provide settlement funding, funds can be made available in as little as 24-hours. There are no upfront fees or incremental payments involved in securing settlement funding. And unlike traditional loans with monthly payments, the borrower is not required to make any payments until the case is settled.

If the case is successful, the lawsuit loan payment is made through the settlement. If the plaintiff loses the case, no repayment is required.

If you are going through a wrongful death lawsuit in South Carolina and are feeling the pressure to settle, acquiring settlement funding can go a long way toward helping you realize a just compensation.

https://www.thestate.com/2014/09/26/3707506/hartsville-players-family-files.html

September 19, 2014 by Sales

Many plaintiffs who apply for lawsuit funding feel like they have a strong case and a lawsuit cash advance funding approval is a foregone conclusion. However, many applications fall short of the requisite criteria for a lawsuit cash advance funding to be approved.

More goes into underwriting a lawsuit loan or cash advance than most people realize. Analyzing each fact patterns, the applicable laws from each state, insurance coverage, damages assessments and a myriad of other factors is the job of the lawsuit cash advance funding underwriter. The professionals who occupy these roles normally come from a few typical occupations. Below we discuss some of the most common.

Legal Professionals for Lawsuit Cash Advance Funding

Most lawsuit cash advance funding underwriters have a background in the legal field. Legal professionals are in an ideal position to best analyze a potential case, identify potential problems, and assess each cases’ likelihood of success. Legal professionals such as attorneys or paralegals bring their education and experience into the lawsuit funding underwriting process. Their experiences also assist with client interaction and also allow them to speak intelligently with plaintiffs and their counsel.

Insurance Adjusters for Lawsuit Cash Advance Funding

Individuals who previously worked in the insurance industry also possess valuable experience and knowledge which is beneficial to the lawsuit cash advance funding underwriting operations. Insurance professionals, especially those who were adjusting potential claims (claims adjusters), are able to assess the cases likelihood of success and also have valuable experience in understanding how insurance companies value these claims/lawsuits.

Evaluating cases for lawsuit cash advance funding is subjective. What one underwriter sees, another may not see because his/her experience is different. Nevertheless, similar factors are calculated for every applicant. Pain and suffering, loss wages and/or earning capacity, loss of consortium are simply a few examples of these typical considerations. Insurance adjusters make optimal lawsuit cash advance funding underwriters because they have seen thousands of fact patterns with similar damages through their work in the claims management field.

Factors such as the particular insurance carrier, relationships with certain adjusters, jurisdiction, venue and a host of others factors, lead to an accurate estimation of a lawsuit’s settlement value. This estimate is very valuable to those lawsuit settlement funding companies who advance cash now for pre-settlement loans.

Risk Management Specialists for Lawsuit Cash Advance Funding

Risk management is also a large part of the lawsuit cash advance funding business. Lawsuit funding outfits therefore use portfolio managers to add safety to the portfolio through diversification.

For example, a manager’s analysis of and existing lawsuit cash advance funding portfolio could reveal a larger than appropriate amount of TV Mesh lawsuit funding deals as compared to other types of funding such as car accident lawsuit funding. In response, the manger might then recommend a slow down in the acceptance of these cases for funding or even a temporary shut down until the ratio returns to an acceptable range.

Moreover, portfolio managers ensure that exposure to any one lawsuit cash advance funding deal would not be catastrophic to the entire portfolio if the case should happen to lose. For example, if there is a $20 million portfolio, the risk manager may suggest that no more than $200,000 be advanced on any one case. Because any lawsuit funding loss is a total loss, losing a $4 million dollar funding for example, would be a 10% loss of total capital and could be catastrophic to the fund’s profit projections since the return on the remaining capital cannot possibly make up the difference even in the most optimistic of scenarios.

We have provided a few of the most common professional backgrounds often employed by litigation loan companies in an effort to help our readers gain a better understanding of the lawsuit cash advance funding industry. We trust these writings are successful in reaching this goal.

Thank you for your interest in the lawsuit cash advance funding business.

August 12, 2014 by PMCESQ

A woman recently suffered injuries in a parking lot when a car hit her minivan. The crash inflicted hip and back injuries. These types of injuries can be life changing and the woman may never fully recover.

At the time of the accident the woman drove inside a Home Depot parking lot with her mother. They had lunch at Applebee’s and were on their way to Walgreens to obtain a prescription. The woman drove westbound in the parking lot, which was perpendicular to cars parked in rows. The driver of the other car drove south along one of the lanes holding parked cars.

Suddenly, and with no prior warning, her minivan was hit on one side by this other vehicle, which was being driven from a lane containing parked cars on her right. The accident happened so quickly she was unable to brace herself before impact. She struck her head on the steering wheel and the side door.

Police were quickly at the scene and witnesses’ statements were recorded. The police accident report identified the cause of the crash to be the high speed of the other driver and failure to yield to the minivan.

The injured female driver was taken to the St Catherine of Siena Medical Center Emergency Room straight after the collision. The immediate diagnosis was concussion and whiplash. She was diagnosed later with hip bursitis and cervical and lumbar radiculitis. The result was eight months of treatment administered by neurologists, orthopedists and physical therapists.

She was quick to realize the severity of her injuries and hired an experienced and successful auto accident lawyer to file a personal injury lawsuit on her behalf.

It is necessary for the appointed personal injury attorney to assess medical records so that a satisfactory amount can be claimed both for short and long term costs. Some of the early medical costs may be paid by the victim’s insurer. The longer term costs are normally paid by the insurer of the driver that caused the accident.

Other damages of a personal injury lawsuit include loss of earnings. The amount will depend on how long the victim has to take off work to recover.

Lawsuit Funding Bridges the Financial Gap

While all the negotiating is going on, the victim may be eligible for lawsuit funding. Lawsuit Settlement Funding is provided by companies who provide immediate cash now in exchange for a portion of the future settlement of the case. Any lawsuit can be considered for lawsuit funding, also known as settlement loans.

A great thing about this type of settlement funding is that the client’s credit score is irrelevant. This is true because lawsuit funding transactions are not loans but a purchase of future proceeds. As such they are normally structured as a transfer of property rights, not as a loan in which repayment is implied at some point in the future.

This arrangement is similar to personal injury attorneys who work on a contingency fee basis. The victim pays no upfront legal fees because the attorney gets paid if, and only if, the lawsuit reaches settlement or other successful resolution.

Likewise, lawsuit funding companies are only repaid when the case is successful. As such, lawsuit funding transactions are a no risk financial solution for litigants in a cash crunch.

Best of all, there are absolutely no restrictions on the use of the advance. The money can be used however the client sees fit.

Source: https://newyork.cbslocal.com/2014/07/12/police-bicyclist-critically-injured-in-melville-crash/

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