Personal Injury Lawsuits that Deserve Funding
If you have recently filed a personal injury lawsuit or in the middle of the litigation process, perhaps you still have some unanswered questions. What exactly makes a good personal injury lawsuit? The three most important factors when determining a good personal injury lawsuit include: liability (who is at fault), damages (items for compensation), and the ability for the defense to pay. When one of these three items is missing the ability to get fairly compensated decreases.
When an attorney takes on a personal injury lawsuit the first item they will consider is liability. If liability exists chances are the attorney will take the case. The same is true when applying for lawsuit funding. If the underwriter feels comfortable that there is clear liability chances are they will provide a lawsuit cash advance against the case.
The second item is damages. If you were involved in an accident due to the negligence of another chances are you have paid out of pocket for expenses. These expenses may include thousands of dollars in medical expenses, transportation costs, physical therapy and other costs directly related to the accident. Along with out of pocket expenses you may be severely injured and as a result you have significant physical pain and suffering; your attorney will attempt to get you fairly compensated for all damages related to the accident. Damages will determine the worth of your claim and will ultimately determine whether to settle your case or proceed to trial. When applying for lawsuit funding you will be asked by a company how much money you are requesting. A lawsuit funding company will typically advance you between 5%-20%+ of the projected damages.
The third and final item is the ability for the defense to pay for damages. Most personal injury claims are fought between an attorney and the insurance company. Whether negotiating a fair settlement or collecting on a judgment if the defense does not have the money to pay the judgment or settlement the plaintiff will not be able to collect. There are cases in which the defense has a certain amount of insurance coverage however not enough to pay the full amount of the damages sustained. When evaluating a lawsuit the underwriter will also be interested in finding out whether the defense has the financial capability to pay on the lawsuit in the event of a favorable verdict. If the result is that the defense indeed has the financial capability to pay the plaintiff chances are your chances of obtaining an advance will significantly increase.
Liability, damages and the ability to collect will play an important factor in both your lawsuit and lawsuit funding. If you are currently evaluating a pre settlement funding or post settlement funding against a personal injury lawsuit, begin by contacting LawLeaf today.
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