Virginia lawsuit loans help plaintiffs prior to settlement with money prior to settlement.
Lawsuits take time to settle. Many take years to resolve. While the case is going through the legal process, expenses still need to be met. Virginia lawsuit loans can help.
Fair Rate Funding specializes in Virginia lawsuit loans for plaintiffs who need cash immediately. We provide lawsuit funding for Virginia plaintiffs so they can wait out the process.
What is a Virginia Lawsuit Loan?
A lawsuit loan is a financial transaction in which a lawsuit funding company (Fair Rate Funding) provides immediate financial support to a plaintiff in a lawsuit. In return, the plaintiff pledges a portion of the future proceeds of the case.
These are specialty finance transactions and differ from traditional loans in the following important respects:
First, the lawsuit settlement is the only source of repayment under a Virginia lawsuit loan agreement. That means a lawsuit “lender” cannot pursue the plaintiff personally for repayment.
Second, lawsuit loans are only repaid if the case is successful. This means that if the case is lost, the Virginia lawsuit loan need not be repaid. Lawsuit loans are non-recourse funding and are outside the loan regulations of the State of Virginia.
Why Lawsuit Funding?
Virginia lawsuit funding allows plaintiffs to endure the long, drawn out litigation process especially in the more densely populated areas of Richmond, Norfolk, Hampton, Chesapeake, Alexandria, Charlottesville, and the greater Washington, D.C. area.
Cases take time to settle, often many years. The bills keep coming however leaving many plaintiffs struggling financially – especially those who were injured in an accident. Virginia lawsuit loans allow plaintiffs to meet their expenses while their attorneys pursue justice.
What Laws Affect Lawsuit Funding in Virginia?
The vast majority of lawsuit funding in Virginia involves personal injury cases. Accidents such as car wrecks, slip and falls, trip and falls, Jones Act, FELA, and premises injuries make up the majority of the lawsuit loans processed in VA.
Contributory Negligence in Virginia
Virginia negligence laws differ in a material way from the rest of the United States because cases use the contributory negligence standard. This means the damages must be entirely caused by someone other than the plaintiff.
Most states adopted the comparative negligence standard which allowed recovery of damages even if the plaintiff was partially at fault for the accident, as long as that portion of fault was less than 51% as determined by a judge or jury.
Statute of Limitations in Virginia Personal Injury
Virginia plaintiffs have two (2) years from the date of accident to file for personal injury damages in the Virginia civil courts. The statute of limitations limits the ability of injured victims to seek compensation. Most states have limitation on actions statutes.
§ 8.01-26. Assignment of causes of action
Section 8.01-26 of the Code of Virginia allows for injured parties to assign a portion of the future proceeds of their case in Virginia.
If You Have Any Questions, Call 888-964-2224
Do I Need a Lawyer to Receive Lawsuit Loans in Virginia?
Although Virginia lawyers are prohibited from advancing their clients money prior to settlement, their participation is necessary when trying to secure a Virginia lawsuit loan.
Technically, you do NOT need approval from your attorney to take an advance. Your lawyer does need to sign off on the contract and agree to abide by the terms of the agreement.
Although you do NOT need approval from your attorney to take a Virginia lawsuit advance, they do need to participate in the process in a limited way. At the very least, your attorney must acknowledge a lawsuit advance has been made and agree to repay the advance if there is a settlement.
How Do I Get Started with VA Lawsuit Funding?
We know you have a choice of lawsuit settlement funding companies and are happy to assist you. To obtain Virginia lawsuit settlement funding in the quickest and easiest manner, please file out the quick application or call us at 888-964-2224.
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 Virginia personal injury lawsuits within 24 hours of receiving the paperwork from your attorney.
We provide 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 Virginia Lawsuit Funding.