Slip-and-fall accidents can be devastating for victims. More than 44,600 people died from falls in 2021, and over 800,000 people are hospitalized every year from fall injuries. About 5% of people who fall suffer bone fractures, causing them to miss weeks or months of work while they heal.
If you’re worried about money after a slip-and-fall accident, consider personal injury legal funding. Below, we explain everything you need to know about pre-settlement funding in New York.
What Is Slip-and-Fall Pre-Settlement Funding?
Pre-settlement funding is a cash advance on your compensation package. Legal funding comes with many perks over other financing options, such as:
- You needn’t wait for your settlement check to arrive to gain access to funding.
- You can use the funding for anything you want or need.
- You can have funding in as little as 24 to 48 hours after applying.
- Applying for legal funding doesn’t hurt your credit score. Additionally, you don’t need a good credit score to qualify.
- Your personal finances are never at risk because the funding company will take repayment from your settlement.
- You don’t have to worry about monthly payments.
- You don’t need to pay anything for legal funding if you lose your case.
That last benefit, in particular, is a great reason to apply for pre-settlement funding. You gain access to much-needed money quickly, and there’s absolutely no risk to you. The legal funding company takes on all the risk, so you can simply sit back and relax.
What Can You Use a Lawsuit Cash Advance For?
As mentioned earlier, you can use a lawsuit cash advance for anything you want or need. Here are some examples of accident victims who would benefit from legal funding:
- Ellen’s rent is due next week, but she can’t pay it because she’s too injured to work.
- David needs to stock up on groceries to feed his kids. He can’t work, and his settlement check probably won’t arrive for another month or two.
- Sandra is so injured that she can’t handle any chores at home. She’s even having trouble climbing out of bed and would like to hire a home care aide, but it’s not within her budget.
- Cassidy finally made it into her dream college. The only problem is that she’s just had an accident, and tuition is due soon. If she doesn’t pay, she’ll lose her chance of attending that Ivy League university.
- Harold’s credit card bills are mounting after his slip-and-fall accident. He can’t even pay the minimum amount, and he’s worried that another missed payment will destroy his credit score.
Legal funding can solve all of these problems and more. In short, it’s a fantastic option if you need money right away and simply can’t wait for that settlement check to arrive.
Slip-and-Fall Cases That Qualify for Legal Financing
Virtually all types of slip-and-fall accident cases can qualify for personal injury legal funding. Examples include:
- Falling on a wet or icy sidewalk
- Slipping on the floor at the grocery store, bank, or post office
- Tripping over loose floor tiles or damaged carpeting
- Falling down the stairs from poor staircase maintenance
- Tumbling down a poorly maintained ladder
How Much Is Non-Recourse Funding Worth?
How much non-recourse funding pays depends on your specific case and expected settlement. Legal funding companies typically give you 15% to 20% of the expected settlement amount. So, if you expect a settlement of $100,000, a legal funding company might give you an advance of $15,000 or more.
If you’re wondering how much personal injury legal funding might pay for your case, reach out to Apex Legal Funding.
How To Qualify for Settlement Advances
Legal funding may sound like the answer to your prayers, but not everyone qualifies. To qualify, you must be at least 18 years old and a resident of the United States.
You’ll also need to have an eligible case type. If you’ve had a slip-and-fall accident, you’re good to go. Legal funding companies also provide financing for car accidents, dog bites, premises liability accidents, and medical malpractice cases.
Additionally, you will need to have a pending lawsuit to qualify. You must also have retained a lawyer for your case. Legal funding companies will only provide financing if you have a lawyer because, with one, you have a better chance of winning a settlement.
Learn More About Plaintiff Investment Funding in New York
Still wondering, “Who is eligible for pre-settlement lawsuit funding?” If you’d like to know whether your case qualifies for a lawsuit cash advance, reach out to Apex Legal Funding at 1-800-377-4934. You may also apply now and have access to pre-settlement funding in as little as 24 hours.
Frequently Asked Questions
What Types of Cases Qualify for Legal Funding?
Many types of personal injury cases qualify for legal funding, including slip-and-fall accidents, nursing home abuse, medical malpractice, dog bites, and car accidents.
Do You Need a Good Credit Score for Legal Funding?
Unlike other types of financing, your credit score doesn’t matter when it comes to legal funding. Even if your credit score is very low, you can qualify. You can also qualify if you’ve filed for bankruptcy before.
Do You Have To Pay Back a Lawsuit Cash Advance?
You do have to pay back a lawsuit cash advance, but not until after you win your case. That means there’s no need to make monthly payments as you’d have to do with other types of financing. Additionally, repayment doesn’t hurt your personal funds. That’s because the legal funding company will take its repayment out of your settlement amount.
Is It Worth Applying for Legal Funding?
Applying for legal funding can be worth it if you can’t wait for that settlement check to arrive. Lawsuit cash advances give you much-needed breathing room because you won’t have to worry about paying bills while you recover. Additionally, you don’t need to repay personal injury legal funding unless you win your case, so you truly have nothing to lose.
