Personal Injury

The Impact of Lawsuit Funding on Your Personal Injury Case

Posted on by Fast Funds
The Impact of Lawsuit Funding on Your Personal Injury Case
19
Jul

Understanding the intricate journey of a personal injury case is crucial for anyone involved in such legal matters. Personal injury cases often come with financial burdens that can strain individuals and families. This is where lawsuit funding comes into play, offering a lifeline to plaintiffs awaiting the resolution of their cases. The impact of lawsuit funding on your personal injury case is profound, potentially altering the course of your financial and legal journey. Exploring this aspect in detail reveals how lawsuit funding can be a game-changer for plaintiffs.

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Financial Relief During Litigation

Personal injury cases can take months or even years to reach a conclusion. During this period, plaintiffs often face mounting medical bills, daily living expenses, and potential loss of income due to their injuries. The financial strain can be overwhelming, leading many to consider early settlement offers from defendants or insurance companies that are significantly lower than what they might ultimately deserve. Lawsuit funding provides the financial relief needed to cover these expenses without the pressure to settle prematurely. By securing this funding, plaintiffs can focus on their recovery and their case, rather than their immediate financial needs.

Leveling the Playing Field

Insurance companies and large corporations often have substantial resources to delay proceedings and pressure plaintiffs into accepting lower settlements. They bank on the fact that the financial strain will force plaintiffs to settle quickly. Lawsuit funding helps level the playing field by giving plaintiffs the financial stability to withstand prolonged legal battles. With this support, plaintiffs and their attorneys can negotiate from a position of strength, pursuing fair compensation rather than succumbing to the pressure of immediate financial needs.

Enhancing Case Value

When plaintiffs are not forced to settle quickly due to financial constraints, they have the opportunity to pursue a more thorough and comprehensive legal strategy. Lawsuit funding allows plaintiffs to afford necessary medical treatments and gather essential evidence, such as expert witness testimonies and detailed medical reports. These elements can significantly enhance the value of the case. By having the financial backing to gather all pertinent information and present a strong case, plaintiffs are more likely to secure a higher settlement or verdict.

- WHAT CLIENTS ARE SAYING -

In June, my wife and I asked our attorney about giving us a loan against any settlement proceeds from our case. He told us that the state bar does not
permit lawyers to participate in the financing of clients. The offer of settlement was very low so the case needed to be filed in court. I called Fast Funds. Within 24 hours, I had entered into an agreement with them, selling a very small portion of the anticipated proceeds to them in exchange for immediate financing. Now my suit is in court and I don't have to worry about money until it's outcome. Thank god for Fast Funds
B.G.
As a result of the advances you have made to our client, we were able to refuse an extremely low settlement offer and take the case to court. We settled the day of the trial for a very generous sum. Had there been no advances by Fast Funds, our client would have had no choice but to accept the inadequate offer since he was in severe debt due to his inability to work. Thank you for your helpful assistance in providing our client with the ability to persevere.
C.F.
I was involved in an accident which took my left leg. I was forced to live homeless for eleven months. Thanks to the Fast Funds people advancing money. I now live in an apartment,I am walking on a prosthetic and otherwise getting my life back together, even though my attorney has not yet settled my lawsuit. I don't know what I would have done for money because the insurance company has offered nothing so far.
A.R.S.
I was involved in an auto accident which caused me to suffer a herniated disc. Because of this injury, I was forced to miss many months of work. I had no income and no place or person to turn to for money. My attorney told me he was unable to help with any financing and the insurance company was refusing to settle the case. I turned to a company called Fast funds. They immediately reviewed my file and took the financial pressure off by providing me with interim financing. I am now able to wait for as long as it takes for my lawyer to achieve a successful result in my case. Without the financial involvement of Fast Funds, I don't know what I would have done.
K.P.
I wanted to thank you for your sensitivity in helping me cope through a very difficult time in my life. Without your help, I would have been unable to pay my rent , forcing my wife and children to be put on the street. I have not been able to return to work and I was tempted to accept the insurance company's very low offer to settle, even though I knew it was not fair or reasonable. You have given me the ability to withstand the financial pressures. Thanks for your help. I will never forget it
C.S.
I have in the past referred clients to Fast Funds Inc., a non-recourse company. The experience of my clients
and my firm were totally positive. Fast Funds was responsive to the clients financial and emotional needs, provided the necessary emergency money and did not interfere in any manner with my handling of the cases. The clients, without my input, negotiated the advance directly with the company. In each case, they were completely satisfied with the final result of the case, including the amount of profit earned by Fast Funds. Non-recourse funding is clearly a valuable tool to the plaintiff's attorney.
M.J.L.
"I am writing to recommend the valuable assistance of the Fast Funds Inc., a company that provided interim funding to financially needy clients. They help to insure that a case will be brought to a successful resolution. A good case in point is when I was offered $75,000.00 for a seriously injured client. Had she not been able to take advantage of the advance financing offered by Fast Funds, I would have been forced to take the money. As it turned out, because my client now had the financial ability to withstand the pressures of time, I tried the case to a jury and received a verdict of $315,000.00.
M.S.D.
It is my belief that non-recourse companies, such as Fast Funds, the company to whom I refer my needy clients, perform an invaluable service to both the client and the attorney. Simply put, it is common knowledge that one of the tools negotiation utilized by insurance companies is time. Offering
considerably less money than the actual case value to a client in desperate need of funds while the case is pending, gives the insurance companies a tremendous advantage. This advantage is minimized and the playing field is leveled when the client has the ability to obtain funds for a minimal portion of the anticipated proceeds. Many times, with no prospects of income, an injured party will settle the case for whatever offer is made.
R.J.F.

Reducing Stress and Improving Recovery

The stress associated with financial instability can impede physical and emotional recovery. Worrying about bills, rent, and other expenses while dealing with injuries can take a toll on a plaintiff’s well-being. Lawsuit funding alleviates this stress by providing the financial support needed to maintain a stable living environment. With fewer financial worries, plaintiffs can focus on their recovery, attending necessary medical appointments and following prescribed treatments without the constant burden of financial pressure. This not only improves their quality of life but can also positively impact their overall recovery process.

Non-Recourse Nature of Lawsuit Funding

One of the most appealing aspects of lawsuit funding is its non-recourse nature. Unlike traditional loans, lawsuit funding does not require repayment if the plaintiff loses the case. The funding company assumes the risk, only being repaid if the plaintiff wins or settles the case. This arrangement provides a significant advantage to plaintiffs, allowing them to secure financial support without the fear of additional debt in the event of an unfavorable outcome. Knowing that they are not adding to their financial burden can give plaintiffs peace of mind as they navigate their legal journey.

Application and Approval Process

The process of obtaining lawsuit funding is designed to be straightforward and accessible. Plaintiffs typically start by submitting an application, which includes details about their case. The funding company then evaluates the merits of the case, often consulting with the plaintiff’s attorney to understand the likelihood of success and potential settlement value. Once approved, funds can be disbursed quickly, providing immediate financial relief. This swift process ensures that plaintiffs do not have to endure prolonged financial hardship while awaiting support.

Related Videos

Applying For Lawsuit Funding

Types of Cases We Fund

Impact on Settlement Negotiations

Lawsuit funding can also influence settlement negotiations. Defendants and insurance companies are aware when plaintiffs have access to financial resources through lawsuit funding. This knowledge can change their approach to negotiations, as they recognize that plaintiffs are less likely to accept lowball offers out of financial desperation. With the backing of lawsuit funding, plaintiffs can negotiate more confidently and assertively, aiming for a settlement that accurately reflects the extent of their injuries and losses. This dynamic can lead to more equitable and satisfactory settlement outcomes.

Empowering Attorneys to Pursue Justice

Attorneys working on personal injury cases often operate on a contingency fee basis, meaning they only get paid if the case is successful. While this arrangement aligns the interests of attorneys and plaintiffs, it also means that attorneys invest significant time and resources without guaranteed compensation. Lawsuit funding can empower attorneys to pursue justice more effectively by providing the necessary resources to build a strong case. With financial support for essential case elements like expert witnesses, medical reports, and investigative work, attorneys can present a compelling case that maximizes the chances of a favorable outcome.

Addressing Ethical Considerations

While lawsuit funding offers numerous benefits, it is important to address potential ethical considerations. Transparency and communication between plaintiffs, attorneys, and funding companies are essential to ensure that all parties understand the terms and implications of the funding agreement. Attorneys have an ethical duty to act in the best interests of their clients, and this includes providing guidance on whether lawsuit funding is a suitable option. By maintaining open and honest communication, potential conflicts of interest can be minimized, and the integrity of the legal process can be upheld.

Long-Term Financial Planning

Lawsuit funding provides immediate financial relief, but plaintiffs should also consider the long-term implications of their financial decisions. Consulting with financial advisors or legal professionals about the impact of lawsuit funding on their overall financial planning can be beneficial. Understanding how the funding amount, fees, and potential repayment obligations fit into their broader financial picture can help plaintiffs make informed decisions that align with their long-term goals. This proactive approach ensures that plaintiffs are not only addressing their immediate needs but also securing their financial future.

The Role of Trust and Reputation

Choosing a reputable lawsuit funding company is crucial to ensuring a positive experience. Plaintiffs should conduct thorough research and seek recommendations from their attorneys or trusted sources. A reputable funding company will offer transparent terms, fair fees, and clear communication throughout the process. Building a relationship based on trust and integrity ensures that plaintiffs receive the support they need without unnecessary complications or hidden costs. Trustworthy funding companies understand the sensitive nature of personal injury cases and prioritize the well-being of their clients.

The Path Forward

The impact of lawsuit funding on personal injury cases is multifaceted, offering financial relief, enhancing case value, and empowering plaintiffs to pursue justice without undue pressure. By alleviating financial burdens and enabling a more comprehensive legal strategy, lawsuit funding can significantly influence the outcome of a case. Plaintiffs who consider this option should do so with a clear understanding of the terms and implications, working closely with their attorneys to make informed decisions.

If you are navigating the complexities of a personal injury case and facing financial challenges, consider the benefits of lawsuit funding. At Fast Funds, we are committed to supporting plaintiffs through their legal journeys with transparent and fair funding solutions. Our team is here to help you maintain financial stability and pursue the justice you deserve. Contact Fast Funds today to learn more about how we can assist you in securing the financial support you need during this critical time. Your recovery and your case are our priorities.