A victim of an accident at East Durham, New York at the Zoom Flume Water Park will focus on his recovery after he sustained severe injuries recently requiring multiple surgeries.
A local pastor was injured while riding a water slide. He was part of a local youth group visiting the attraction. The Department of Labor for New York State has not yet resolved the cause of the accident. It is believed the victim traveled at full speed down a water slide and into a pool that was not adequately filled with water.
The victim, when he eventually recovers, will undoubtedly consider filing a lawsuit against the water park company in order to gain some financial compensation for the cost of his injuries, lost time from work, medical costs and other damages.
Personal injury lawsuits can take time however, and the victim may soon find himself in financial trouble. When plaintiffs are unable to work, monthly and other expenses quickly exhaust a person’s financial reserves.
Unfortunately, defendants and insurance companies understand the financial strain that can result from a severe personal injury. In some cases, they will use this stress to their advantage by offering less than fair value as a final settlement. The hope is the victim will have no choice but to take the money or risk such hardships as losing a home or car. In many instances the tactic is successful.
Lawsuit funding seeks to level the financial playing field between personal injury plaintiffs and defendants (insurance companies). Lawsuit funding, also known as settlement funding, is when a company advances a portion of the settlement proceeds of a lawsuit before it settles. This way, plaintiffs are not forced to accept low ball settlement offers.
In return, plaintiffs pledge a portion of the settlement when the lawsuit is finally resolved. These “lawsuit loans” are non-recourse which means if the case is not successfully resolved, there is no repayment of the advance. As such, lawsuit funding is a risk free proposition for plaintiffs who are in need of immediate cash to suit their needs.
There are no credit checks with lawsuit funding, nor are there any upfront costs or fees. The money can be used at the client’s discretion without any restrictions whatsoever.