Personal Injury

Understanding Personal Injury Lawsuit Funding in Pennsylvania

Posted on by Fast Funds
Understanding Personal Injury Lawsuit Funding in Pennsylvania
27
Jun

In Pennsylvania, navigating the financial landscape following a personal injury can be overwhelming. The legal process of pursuing a personal injury claim often involves extended periods without income, coupled with mounting medical bills and living expenses. During this critical period, personal injury lawsuit funding becomes a vital resource, offering plaintiffs a financial lifeline as they await the resolution of their cases.

Personal injury lawsuit funding, often referred to as pre-settlement funding, is designed to provide plaintiffs with immediate financial relief. This type of funding allows individuals to access a portion of their anticipated settlement or court award before their case is resolved. It is not a loan but rather a cash advance against the potential future settlement. Unlike traditional loans, personal injury lawsuit funding is non-recourse, meaning that if the plaintiff loses their case, they are not obligated to repay the advance.

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The Process of Securing Personal Injury Lawsuit Funding

Securing personal injury lawsuit funding in Pennsylvania involves several steps, starting with finding a reputable funding firm. Once a plaintiff decides to pursue this type of funding, the process generally begins with an application. The application requires basic information about the plaintiff and their case, including details of the injury, the defendant, and the law firm representing the plaintiff.

After submitting the application, the funding firm conducts a thorough evaluation of the case. This evaluation focuses on the merits of the case, the likelihood of a favorable outcome, and the estimated settlement amount. The funding firm collaborates closely with the plaintiff’s attorney to gather necessary documentation and to understand the specifics of the case. The attorney’s involvement is crucial, as they provide insights into the strength of the case and the expected timeline for resolution.

Once the evaluation is complete and the funding firm determines that the case has a strong likelihood of success, they will offer a cash advance to the plaintiff. The amount of the advance is typically a percentage of the estimated settlement or court award. The plaintiff receives the funds, which can be used to cover medical bills, living expenses, and other financial obligations. This financial support helps plaintiffs maintain stability and focus on their recovery while their legal battle continues.

- 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.

Legal and Ethical Considerations in Personal Injury Lawsuit Funding

Personal injury lawsuit funding in Pennsylvania is subject to various legal and ethical considerations. Funding firms must operate in compliance with state regulations and adhere to ethical standards to ensure fair treatment of plaintiffs. It is essential for plaintiffs to understand the terms and conditions of the funding agreement before accepting the advance.

One critical aspect to consider is the cost of the funding. Personal injury lawsuit funding comes with fees and interest, which can vary depending on the funding firm and the specifics of the case. Plaintiffs should carefully review the agreement to understand the total repayment amount if they win their case. Transparency is key, and reputable funding firms provide clear and detailed information about the costs involved.

Another important consideration is the impact of the funding on the attorney-client relationship. Attorneys must prioritize their clients’ best interests and ensure that the funding arrangement does not influence their legal strategy. The attorney’s role is to advocate for the plaintiff and secure the best possible outcome, regardless of the funding arrangement.

The Benefits of Personal Injury Lawsuit Funding

Personal injury lawsuit funding offers numerous benefits to plaintiffs facing financial hardships during their legal proceedings. One of the primary advantages is the ability to level the playing field. Defendants, particularly large corporations and insurance companies, often have significant financial resources and can prolong the legal process to pressure plaintiffs into accepting lower settlements. Personal injury lawsuit funding provides plaintiffs with the financial resilience to withstand these tactics and pursue fair compensation.

Moreover, personal injury lawsuit funding allows plaintiffs to prioritize their recovery and well-being. Financial stress can hinder the healing process, and having access to funds for medical treatments, therapy, and daily expenses alleviates this burden. Plaintiffs can focus on their health and rehabilitation without the constant worry of financial instability.

Additionally, personal injury lawsuit funding can prevent plaintiffs from settling their cases prematurely. Without financial pressure, plaintiffs are more likely to wait for a fair settlement rather than accepting a lower offer due to immediate financial needs. This approach often results in more favorable outcomes, as plaintiffs have the time and resources to build a strong case and negotiate effectively.

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Applying For Lawsuit Funding

Types of Cases We Fund

Choosing the Right Funding Firm in Pennsylvania

Selecting the right funding firm is crucial for plaintiffs considering personal injury lawsuit funding. It is essential to choose a firm with a solid reputation and a track record of ethical practices. Researching funding firms, reading reviews, and seeking recommendations from attorneys and other plaintiffs can provide valuable insights into the firm’s reliability and customer service.

Plaintiffs should also consider the terms and conditions of the funding agreement. Comparing fees, interest rates, and repayment terms across different firms can help plaintiffs make an informed decision. Transparency and communication are key factors; reputable firms provide clear explanations of the funding process and are available to address any questions or concerns.

The relationship between the funding firm and the plaintiff’s attorney is another important factor. Effective communication and collaboration between the funding firm and the attorney ensure a smooth process and a better understanding of the case dynamics. Plaintiffs should discuss the funding option with their attorneys and ensure that both parties are comfortable with the arrangement.

Real-Life Impact of Personal Injury Lawsuit Funding

The impact of personal injury lawsuit funding can be profound, providing plaintiffs with the means to navigate their legal battles without sacrificing their financial stability. Consider the case of a Pennsylvania resident who sustained severe injuries in a car accident caused by a negligent driver. The injuries required extensive medical treatment and left the plaintiff unable to work. As the medical bills piled up and household expenses mounted, the plaintiff faced mounting stress and uncertainty.

By securing personal injury lawsuit funding, the plaintiff received a cash advance that covered immediate expenses and allowed for continued medical treatment. This financial support not only alleviated the financial burden but also provided peace of mind, enabling the plaintiff to focus on recovery. The funding allowed the plaintiff to pursue a fair settlement without the pressure to accept a low offer due to financial desperation. Ultimately, the plaintiff’s case was successfully resolved, resulting in a substantial settlement that provided long-term financial security.

The Role of Personal Injury Lawsuit Funding Firms

Funding firms play a pivotal role in the personal injury legal landscape in Pennsylvania. They provide a vital service to plaintiffs, offering financial stability during a challenging time. These firms bridge the gap between injury and settlement, ensuring that plaintiffs have the resources they need to pursue justice and obtain fair compensation.

Reputable funding firms prioritize transparency, ethical practices, and customer service. They work closely with plaintiffs and their attorneys to understand the specifics of each case and provide tailored funding solutions. By offering non-recourse funding, these firms align their interests with the plaintiffs, as repayment is contingent on the success of the case. This alignment ensures that funding firms are invested in the plaintiffs’ success and work diligently to provide the necessary support.

Your Financial Lifeline 

Personal injury lawsuit funding is a crucial resource for plaintiffs in Pennsylvania, offering financial relief and stability during the often lengthy and complex legal process. By understanding the process, benefits, and considerations involved in securing this type of funding, plaintiffs can make informed decisions that support their recovery and pursuit of justice.

If you or a loved one is facing financial challenges while pursuing a personal injury claim in Pennsylvania, consider exploring the option of personal injury lawsuit funding. Fast Funds is dedicated to providing the support and resources you need to navigate this difficult time. Our team is committed to transparency, ethical practices, and exceptional customer service. Contact Fast Funds today to learn more about how we can assist you in securing the financial stability you deserve while pursuing your personal injury claim.