If you or a loved one was injured due to a defect in the design or manufacture of a product or because the manufacturer failed to warn you of a danger in using the product, you may be awaiting a settlement in a product liability suit. Getting from the initial filing of your liability claim to settlement of the claim can be a long, time-consumptive process, but you may be left with injuries from the manufacturer's negligence that leave you unable to earn a living in the same capacity that you did prior to using the defective product. For that long wait between injury and settlement, product liability pre-settlement funding can help.
Your Product Liability Case and Pre-Settlement Funding
Product liability claims often result in large monetary awards, although your particular award is based on the extent of your injury and the level of liability that can be assigned to the defendant in your case. In 2014, the Insurance Information Institute noted that the median product liability claim resulting in a settlement of $3.12 million, with the average claim yielding a gross settlement of $6.39 million. Many settlements against tobacco companies ran into the tens of millions of dollars; the same is true of lawsuits against big auto manufacturers that produced vehicles with safety flaws that ended up causing horrific accidents and fatalities. Because of the sheer size of these awards, insurance companies have lawyers working hard on their side to keep awards to a minimum, even if that means taking years to settle with the injured party.
Cash Advance for Product Liability Litigation Funding
While you wait for your case to proceed through the courts, product liability litigation funding is nonrecourse funding that provides you with a percentage of your product liability claim's worth as a cash advance. This money is given to your right away following approval of your funding application, so you can access it quickly and help smooth the financial chaos that injury often yields. The money is yours to do with as you please, and you only repay the advance when your case settles. If your case is decided unfavorably, you do not pay.
Product Liability Settlement Funding – Getting Started
Negligent companies are slow to pay up when they cause harm to consumers, but the wait is lessened with product liability settlement funding. Find out how Lawsuit Funder can help you through the financial stress of dealing with a product liability claim with needed funding you can access right away.