pre-settlement funding in Maryland 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
Pre-Settlement Funding in Maryland
Pre-settlement funding is a valuable financial aid option for personal injury cases in Maryland. It allows plaintiffs to cover medical expenses and other debt while their cases are pending, instead of waiting for a settlement to come through. By leveraging their future settlement money, plaintiffs can ensure they have the resources they need to cover the costs of medical care and other necessities. Pre-settlement funding also eliminates much of the financial burden of a civil lawsuit, allowing plaintiffs to focus on their recovery.
Plaintiffs in Maryland who are considering pre-settlement funding should understand the nuances of comparative negligence, insurance limits, and the top attorneys in the state. This article outlines these topics and explains what pre-settlement funding can do for personal injury cases in Maryland.
Benefits of Pre-Settlement Funding
Pre-settlement funding is a key resource for plaintiffs in Maryland because it gives them access to money immediately. Money is normally only awarded to plaintiffs when their cases are finalized, and the waiting period can be extensive. Pre-settlement funding allows plaintiffs to pay for expenses and avoid debt collectors during the process, giving them peace of mind until their case is resolved. Some of the most common uses for pre-settlement funding include medical expenses, mortgage payments, car payments, and other necessary bills.
Funding is also beneficial because it is non-recourse. That means the lender can never come after a plaintiff unless they receive a settlement. If plaintiffs do not receive a settlement, they do not have to pay back the loan. This makes pre-settlement funding an appealing alternative to traditional loans, which are often difficult to obtain when a plaintiff is injured.
Comparative Negligence
Maryland is a modified comparative negligence state, meaning plaintiffs to assign fault to both themselves and others in an accident. If a plaintiff is found to be more than 50% at fault for an accident, they are barred from seeking compensation. However, plaintiffs who are found to be less than 50% at fault can still seek damages. In cases where the plaintiff is partially responsible, the amount of damages awarded will decrease proportionally.
For example, if a plaintiff is found to be 25% at fault, they will receive 75% of any damages they receive. It is important to note that comparative fault can also be assigned to non-parties, such as a third party that made a product that failed and caused an accident. Plaintiffs should make sure to point out any non-party negligence in their case, as any fault attributed to them will reduce their award.
Insurance Limits for Personal Injury and Auto Cases
The amount of money an insurance company will pay for a personal injury or auto accident case depends largely on the policy limits. The policy limit is the maximum amount of money the insurance company will pay out for a given case. In Maryland, the policy limit for most personal injury and auto accidents is $30,000. This is the maximum for all claims related to a single accident, and it cannot be exceeded no matter the circumstances.
It is important to note that the $30,000 policy limit applies only to third-party claims. That means it applies to cases involving other people who were injured in the accident, such as a pedestrian or another driver, but not to cases involving the policyholder’s own injuries. The policyholder’s own injuries must be covered by their own medical insurance.
Top Attorneys in Maryland
The personal injury attorneys in Maryland are some of the best in the nation. They specialize in a wide variety of topics like personal injury, medical malpractice, automobile accidents, wrongful death cases, and more. Some of the top attorneys in the state are:
• Christopher W. Scott: Mr. Scott is a renowned personal injury and wrongful death attorney who has extensive experience in trial law and negotiation. He has successfully recovered millions of dollars for his clients and is considered one of the top personal injury attorneys in Maryland.
• David M. Weisman: Mr. Weisman is a highly experienced trial attorney who handles a range of personal injury, wrongful death, and automobile accident cases. He has won numerous multi-million dollar settlements for his clients and has been named a Super Lawyer by Maryland Super Lawyers.
• Howard G. Smith: Mr. Smith is a personal injury and medical malpractice attorney who has handled some of the state’s top cases. He has won millions of dollars in settlements for his clients and is considered a leader in the legal community.
• Michael D. Mullen: Mr. Mullen is a renowned trial attorney who has over 30 years of experience in a variety of civil litigation matters. He has won numerous multi-million dollar settlements for his clients and is considered one of the top personal injury attorneys in Maryland.
Conclusion
Pre-settlement funding is a valuable financial aid option for personal injury cases in Maryland. Plaintiffs in the state should understand the benefits of pre-settlement funding, be aware of the nuances of comparative negligence, know the insurance limits for personal and auto cases, and be familiar with some of the top attorneys in the state. By being informed on these topics, plaintiffs can make better decisions about pre-settlement funding and how it can help them during their case.
