pre-settlement funding in Iowa include topics of the benefits of pre-settlement funding, comparative negligence, insurance limits for personal injury and auto accidents and who the some of the top attorneys in the state
are.
Pre-Settlement Funding in Iowa
Pre-settlement funding, also known as lawsuit funding and legal financing, helps people who have experienced personal injury or had a property damage claim as a result of an auto accident. In Iowa, pre-settlement funding can help individuals cover the costs of living and medical expenses as they wait to receive their settlement or judgment award.
What is Pre-Settlement Funding?
Pre-settlement funding is a type of financing that provides plaintiffs who have filed a personal injury lawsuit with a cash advance on their settlement. Funds are typically provided in as little as 24 hours and are usually issued when a case is in its pre-trial phase or within a few months of filing the claim. The funding recipient agrees to repay the loan with a portion of their settlement or judgment once the case is completed, but if the case is lost, the recipient does not need to repay the loan.
BENEFITS OF PRE-SETTLEMENT FUNDING
There are many benefits to pre-settlement funding that make it a desirable option for individuals in Iowa who are waiting for a settlement. Perhaps the most significant benefit is that the recipient does not have to repay the loan if he or she does not win their case. This means that the recipient is not taking on additional risk by accepting a loan. Other benefits include:
•Able to access funds fast: Pre-settlement funding can be issued in as little as 24 hours and those who receive the funds do not have to provide collateral or have good credit.
•No credit checks: Because the loan is based on the projected value of the settlement, applicants do not need to worry about credit checks or providing collateral in order to be approved.
•Covers living and medical expenses: Pre-settlement funds can be used to pay for living expenses, medical bills and other related costs.
•Reduces financial strain: By providing a reliable source of income during the settlement period, pre-settlement funding can relieve some of the financial strain on the recipient.
Comparative Negligence
In Iowa, comparative negligence is the legal principle that is used to determine fault and compensation in a personal injury case. Under this principle, a plaintiff can still recover damages even if he or she is partially at fault for the accident. However, the amount of damages awarded will be reduced in proportion to the plaintiff’s degree of fault.
Insurance Limits for Personal Injury and Auto Accidents
In Iowa, drivers are not required to carry auto insurance, but many people choose to do so in order to protect themselves in the event of an accident. If a person is injured in an auto accident and the other driver is at fault, the person’s insurance policy may be used to pay for medical expenses, lost wages, and other related damages. The insurance company may also be responsible for paying legal expenses if the injured party decides to file a personal injury lawsuit.
The amount of coverage a driver is required to carry depends on the type of policy. For instance, liability auto insurance typically has minimum limits of $20,000 for bodily injury for one person, $40,000 for bodily injury for two or more people injured in the same accident, and $15,000 for property damage resulting from the accident. Drivers are encouraged to purchase higher limits of coverage to ensure that their financial liabilities in the event of an accident are covered.
Top Attorneys in Iowa
Iowa has many excellent attorneys who specialize in personal injury law and can help individuals who have been injured in an accident. Some of the top personal injury attorneys in the state include:
•McPherson Law in Dubuque: McPherson Law has won numerous awards in personal injury and workers’ compensation cases. They have extensive experience in all areas of personal injury, including auto accidents, medical malpractice, and premises liability.
•Keating, O’Gara, Nedved & Peter in Sioux City: Keating, O’Gara, Nedved & Peter is one of Iowa’s leading personal injury firms. They have extensive experience in a variety of personal injury cases, including medical malpractice, product liability, wrongful death, and birth injuries.
•Richard L. Bolton & Associates in Des Moines: Richard L. Bolton & Associates specializes in helping individuals who have been injured in auto accidents, workers’ compensation cases, and medical malpractice cases. They have successfully represented hundreds of clients throughout the state.
Conclusion
Pre-settlement funding can provide much-needed financial assistance to individuals in Iowa who have experienced personal injury or had a property damage claim as a result of an auto accident. Funds are typically provided within 24 hours and are not required to be repaid if the case is lost. Iowa’s comparative negligence law is used to determine fault and compensation in a personal injury case and drivers are encouraged to purchase higher limits of liability auto insurance in order to be properly covered in the event of an accident. Finally, there are many excellent attorneys in the state who specialize in personal injury law and can help individuals who have been injured in an accident.
