pre-settlement funding in Oregon 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
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Pre-settlement funding in Oregon
If you have been injured in an accident in Oregon and are considering filing a lawsuit to recover compensation for your injuries, you may want to consider pre-settlement funding. Pre-settlement funding, also referred to as lawsuit loans or settlement loans, can provide much-needed financial assistance while you wait for your case to make its way through the courts. It is important to understand the basics of pre-settlement funding to decide if it is the right choice for you.
What Is Pre-Settlement Funding?
Pre-settlement funding works by providing a loan to an individual (or plaintiff) who has suffered an injury and will likely win a settlement from a pending lawsuit. The loan is paid back once the case is settled or a court verdict is rendered. Pre-settlement funding helps those who may have limited financial resources and are unable to afford the legal expenses associated with the lawsuit. It provides them with a means to cover the costs of being a plaintiff and remain financially stable while pursuing their case through the court system.
Benefits of Pre-Settlement Funding
One of the major benefits of pre-settlement funding is that it can provide much-needed financial relief while waiting for a lawsuit to be settled. Pre-settlement funding can help individuals pay medical expenses, rent or mortgage payments, legal fees, and other living expenses that they may not be able to cover themselves. Additionally, pre-settlement funding can be used to pay the retainer fee for a personal injury attorney. This is important as the success of a personal injury lawsuit often depends on the experience of the lawyer representing the plaintiff.
Comparative Negligence
It is important to understand the concept of comparative negligence when considering pre-settlement funding in Oregon. Oregon follows a “modified comparative negligence” rule when assessing personal injury damage claims. This means that the court may assign fault in a personal injury case to each of the parties involved, based on the level of responsibility they each had in the incident. In a 50 percent apportionment of negligence, for example, the plaintiff would be liable for only 50 percent of the injury. In comparison, under a pure comparative fault doctrine, the plaintiff could be responsible for any percentage of the injury, even if more than half. This means that if a plaintiff receives a settlement amount that is based on a proportionate degree of responsibility, pre-settlement funding can be used to cover the loss.
Insurance Limits for Personal Injury and Auto Accidents
It is important to understand the limitations of personal injury and auto accident insurance policies, which can be a factor when it comes to pre-settlement funding in Oregon. Many insurance policies, for example, may have limits on the amount that can be paid out for a particular type of injury or accident. If the amount of your settlement will be less than the limit of the policy, pre-settlement funding may be needed to make up the difference.
Top Attorneys in Oregon
When considering pre-settlement funding in Oregon, it is important to be aware of some of the top attorneys who practice in the state. John Zemke and Lidia Vianda of Zemke & Vianda are two of the most experienced personal injury attorneys in Oregon. Joe Mclaren of Mclaren & Mclaren is also highly respected in the field of personal injury law and is an expert in representing victims of auto accidents in Portland, Oregon.
Conclusion
Pre-settlement funding in Oregon can provide much-needed financial support for those who have been injured in an accident and are pursuing a lawsuit for compensation. This type of funding can help pay for medical expenses, legal fees, rent or mortgage payments, and other expenses that may not be covered by insurance. It is important to understand the basics of pre-settlement funding as well as the laws in Oregon related to comparative negligence, insurance limits, and top attorneys in the state before deciding if this is the right option for you.
