Personal injury accidents can wreak devastation in your life, but personal injury claims take a notoriously long time to settle. Insurance companies often toy with litigants in an attempt to pay them the least amount possible, leaving them in financial straits when an injury keeps them from earning a living. With personal injury pre-settlement funding, litigants can access the cash they need to pay bills while waiting for a reasonable settlement with the insurance company for a fair decision in court. This non-recourse funding option is repaid contingent on successful litigation or settlement of your personal injury claim.
Pre-Settlement Funding for Personal Injury Claims
Personal injury claims include dog bite injuries, construction-site accidents, medical malpractice injuries, and injuries sustained due to defective products. Regardless of the type of injury, waiting for a settlement to make your life whole again can take some time. If you qualify for pre-settlement funding, you can receive a cash advance against your anticipated personal injury award, which can be a necessary resource to catch up on outstanding bills due to your injury.
Personal Injury Pre-Settlement Funding
Since approximately four percent of personal injury claims are taken to court, insurance companies drag their feet when it comes to paying claims. The longer they make you wait, the greater the chance they can give you a lowball offer to make you "go away." With pre-settlement funding, you can have access to a lump sum of cash while you wait for the insurance company to settle your claim, making the waiting game a little less stressful and the settlement amount greater.
Pre-Settlement Funding Amounts for Personal Injury Cases
To qualify for personal injury pre-settlement funding, you must submit the details of your personal injury claim along with your lawyer's contact information for consideration by an underwriter. The underwriter analyzes the case specifics and makes a decision on an approval or denial. If you are approved, you can receive a percentage of your claim right away. Once you receive a settlement on your personal injury claim, you repay the pre-settlement advance with the proceeds of the settlement. Should your case be thrown out or if it is not settled successfully, you are not responsible for repayment of the advance which leaves zero risk and no payments while your claim is pending.
Some personal injury lawsuits settle quickly, but that is the exception, not the rule. Others can drag out for years while the insurance company squabbles over payment amounts. Find out how Lawsuit Funder can help you bridge the gap between you and the insurance company while you await your personal injury settlement.