While employers generally take steps necessary to keep employees safe, workplace accidents, injuries, and illnesses do occur – and when they do, it is your right as an employee to seek out workers' compensation benefits. For severe injuries or injuries that leave workers with permanent disabilities or impairments, workers can seek lump-sum monetary compensation. Dealing with the claims process is a tedious process and one that requires an average of nearly two years from start to finish, especially with complicated back or spinal injuries. In the interim, employment injury settlement funding can help you stay afloat financially until you receive your award.
Your Injury and Employment Injury Pre-Settlement Funding
If you are among the more than 4.1 million workers who are injured each year in the United States you may qualify for employment injury pre-settlement funding. This type of funding provides you with a cash advance against the proceeds of your pending settlement. You receive the money right away and can use it for any purpose such as catching up on your mortgage, making your car payment, or buying groceries. Once your settlement is awarded, your repayment comes from the proceeds. If you lose your case the advance does not have to be repaid.
Needed Cash with Employment Injury Pre-Settlement Funding
The length of time it takes for your workplace injury claim to wind its way through the settlement process varies widely. For claims that do not involve a permanent disability the average wait time for settlement is 13.5 months whereas claims involving a permanent disability average 18.2 months. The overall average duration for resolution of a workers' compensation claim is 15.7 months or longer. Cases initially denied and then appealed may take a significantly greater amount of time from start to finish. Disputes about a worker's disability percentage rating tend to take the longest amount of time, since the rating is directly tied to the amount of compensation the worker receives. While waiting on a settlement, employment injury pre-settlement funding provides a lifeline to replace your lost wages and help you pay your living expenses.
How to Apply for Employment Injury Pre-Settlement Funding
Applying for employment injury litigation funding is a simple process. You simply provide an underwriter with details about your case and your attorney's contact information. The underwriter reviews the case information provided by your attorney and determines whether your particular situation qualifies you for funding. Your money is sent to you immediately upon approval.
Employment injuries can leave you unable to work and without the needed income to pay bills. Because insurance companies are slow to fork over settlement money in workers' compensation and insurance claims, employment injury lawsuit funding is a viable solution for tapping into needed cash. Learn more about Lawsuit Funder’s non-recourse funding options now.