pre-settlement funding in New Mexico 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 New Mexico
Pre-settlement funding, also known as lawsuit funding or legal financing, helps people in New Mexico get access to money for medical bills, rent payments, and other living expenses when their case is in litigation and they are waiting for a settlement. Pre-settlement funding can be a lifesaver for people in dire financial straits. It allows them to hold out for a better settlement, avoiding a low-ball offer from insurance companies.
In New Mexico, pre-settlement funding is a non-recourse loan to plaintiffs in personal injury and auto accident cases. A non-recourse loan means that if a plaintiff loses the case, they do not have to pay back the loan – the lender incurs the full cost of the loan. Pre-settlement funding companies incur the risk and have no legal recourse if the case is lost.
New Mexico follows the “comparative negligence” rule for personal injury cases, which means that both parties in an accident can be found partially at fault. The amount of compensation a plaintiff receives is calculated based on their percentage of fault. If a plaintiff is found to bear 50 percent of the responsibility for an accident, they will only receive 50 percent of what they would have received had they not been at fault. However, pre-settlement funding companies generally do not take such fault into consideration, so those waiting for a settlement to resolve their case can still get pre-settlement funding even if they were partially at fault.
The maximum amount of liability insurance for personal injury cases in New Mexico is $25,000. If a plaintiff requires more compensation to cover their losses, they can opt to pursue a claim against an individual or company, though this is more difficult and time consuming than getting a settlement from an insurance company. State law also provides for punitive damages in certain cases, which are damages that a plaintiff may pursue in addition to their medical bills and other expenses.
When people in New Mexico are considering pre-settlement funding, they may want to search for a trusted and experienced attorney. Top attorneys in the state include:
-Mariela Yasmin Rivera of Mariela Rivera Law Firm in Albuquerque. She specializes in personal injury law, including medical malpractice, premises liability, workers compensation, and car accidents.
-Mike Brener of The Brener Law Firm, PC in Albuquerque. He specializes in car accident cases and has more than 25 years of trial experience.
-Katherine Joseph of Joseph & Joseph in Albuquerque. She works onpersonal injury, wrongful death, and civil rights cases. She has won numerous awards and accolades and is one of New Mexico’s top trial attorneys.
Pre-settlement funding is a valuable resource for people in New Mexico waiting for a settlement to resolve personal injury and auto accident cases. It allows plaintiffs to pursue a settlement without the pressure of having to reach a low-ball offer from an insurance company, and it also helps them cover their medical bills and living expenses until the case is resolved. With an experienced attorney and pre-settlement funding, plaintiffs can receive the compensation they deserve.
