Personal Injury Lawsuit Funding
The pursuit of justice through a personal injury lawsuit can be complicated and heartbreaking. The medical bills pile up, lost wages affect the family budget, and the emotions of recovery from physical or emotional trauma can be unbearable. In these cases, a personal injury lawsuit may be the only way to compensate an individual for the losses inflicted by negligence or wrongful actions on the part of another. But for those going through the tortuous and long process of a prolonged lawsuit, finding the funds to continue may seem impossible.
Fortunately, personal injury lawsuit funding exists to bridge the gap between the filing of the claim and the expected resolution of a case. Also known as pre-settlement funding, personal injury lawsuit financing can provide much needed financial relief and aid in obtaining due compensation for the damages wrought.
What is Personal Injury Lawsuit Funding?
Personal injury lawsuit funding is a type of lawsuit advance or non-recourse loan given to an individual while they are still awaiting the successful resolution of their case. Often the exact type of disbursement and the amount available vary depending on the guidelines of each provider. The most popular form of lawsuit funding for personal injury cases is a non-recourse loan. This means that the individual does not have to repay the loan if their case does not resolve favorably.
Who is Eligible for Personal Injury Lawsuit Funding?
The criteria for eligibility for personal injury lawsuit funding is normally not as stringent as for traditional loans and credit lines. Typical eligibility requirements include having a personal injury case that is currently in process, having a qualified settlement agreement, and having an attorney for representation.
What Kind of Injuries and Treatments is Covered?
Personal injury lawsuit financing can encompass a wide variety of incident-related events and treatments. These can range from vehicular wrecks, workers compensation injuries, to falls and trips sustained on unsafe premises. Regardless if the injuries are mild or severe, such as bodily fractures, deep lacerations, or even traumatic brain injuries, legal funding is available to those individuals suffering due to the negligence of another party.
The treatments that may be covered by the lawsuit can include covering intensive on-going medical care such as multiple surgeries, prescriptions, and therapies. In some cases, even the prosthetics needed to regain full mobility are included in the lawsuit funding, making this a great avenue to secure back the progress that was lost due to a medical condition or injury.
What is the Long Term Impact on Life?
The long-term impacts of a severe personal injury can be far ranging. Depending on the extent of the injury, individuals involved in a lawsuit may have to live with some physical limitations or perhaps even a reduced life expectancy. The trauma of the whole experience sometimes can even induce symptoms of post-traumatic stress disorder, which can lead to depression or other mood disorders.
Emotionally, the impact can be quite heavy, from becoming overwhelmed by the hard road to recovery to having to relive the events of the incident, as they testify in court. The worry of financial hardship due to lost wages, mounting medical bills, and the state of limbo while awaiting the resolution of a case, can be relentless under such conditions.
Conclusion
The pursuit of justice is often a very trying and difficult task. But fortunately, personal injury lawsuit funding may provide some short term respite for individuals navigating these tough waters. With the availability of this cash advance to help pay for medical expenses, lost wages, and necessary treatments, those going through a lawsuit may find the answers to their financial and legal questions. For serious personal injuries, the long-term impact on life can be permanent, but getting the right resources and assistance may help to alleviate any financial burdens held in the present, while looking ahead to the future.
