No one plans to have a personal injury. However, life often brings the unexpected. You’re living your life, as usual, one moment, but it all changes in an instant with an accident or injury. Proper medical care and recovery time are vital, but both of these require time off work.
Personal injury plaintiffs can face a common dilemma. They want to collect compensation from the party at fault, yet they also need money right now to take care of living expenses. Fortunately, NY Legal Funding may be able to help.
Our plaintiff legal funding services can afford you the freedom to prioritize your health and pursue your personal injury claim as you see fit, without having to wait for a favorable cash settlement award.
Personal injury cases like yours may take some time to resolve. Black’s Law Dictionary reveals that it can take two years or more to reach a settlement or trial. Part of the reason is the need for law firms to investigate all aspects of your case. This typically happens during the discovery phase, which often involves interviews and depositions taken under oath.
In addition to eyewitness testimony, the discovery process could produce a significant amount of evidence. Attorneys on both sides take place in this fact-finding effort. They track down police reports, insurance claim information, and photos, plus medical, employment, and financial records.
Depending on your case, they may also decide to include expert witness testimony. Their end goals are to gather facts that support their arguments. This can easily take six months or more to complete.
Besides the discovery phase, other complications may exist in your personal injury case. There’s also a maximum medical improvement, or MMI, to consider. A plaintiff can reach this point in one of two ways: Either the person has completely recovered from injuries, or the individual’s medical condition has stabilized with little likelihood of future improvements.
Reaching MMI happens at different points for each plaintiff. After all, healing and recovery require time. Early on in your claim, it may be difficult to get a clear picture of the full medical impacts of your injury. Since MMI is important for determining how much your personal injury claim is worth, it also impacts how quickly your case progresses.
While you’re pursuing your personal injury case, you may not be able to work — and that quickly translates into lost wages. You could be facing a mountain of debt thanks to your growing medical expenses. To top it all off, you’ve got other bills that are likely piling up. Past-due mortgage or rent, utilities, auto loan installments, and your wireless bill all demand regular payments.
With money in short supply, the mere act of buying groceries may become a major challenge. It all adds up: Keeping the lights on, a roof over your head, and food in your refrigerator can feel like a Herculean struggle. In situations like these, plaintiff legal funding may be a viable solution.
When you’re dealing with a personal injury case, returning to work is often not an option. Yet regardless of what’s going on with your case at any given point, your bills and basic needs cannot wait. Plaintiff legal funding, also known as plaintiff investment funding, civil justice funding, or personal injury lawsuit funding, may enable you to cover these critical expenses until the resolution of your case.
This financing comes with a few useful advantages:
Another way to describe civil justice funding is as a type of non-recourse funding. It is risk-free, with repayment only required if the case is successful either through a verdict or settlement. Even if the plaintiff loses, they owe nothing.
Since your anticipated settlement backs your advance amount, you do not place your future finances in jeopardy. Nor do you have to make monthly payments on the Thanks to the money you may receive, it’s easier to take care of what matters most.
Unlike traditional personal loans, plaintiff investment funding does not rely on income, employment, or creditworthiness as qualifying factors. When you submit a funding request, lenders such as the team at NY Legal Funding evaluate your personal injury case. Based on its merits and potential future case award, a lender ascertains the probability of a positive outcome.
This type of financing acts more like a cash advance than a personal loan. If your case should qualify, the lender extends funding based on an estimated award or settlement amount.
NY Legal Funding offers legal financing to plaintiffs involved in many different kinds of personal injury cases:
NY Legal Funding does not provide input on or interfere with your personal injury case. We simply provide funding that may help you take care of financial burdens while you’re pursuing compensation in your personal injury case. However, you may find some peace of mind along with the funds you receive.
If your case is eligible for lawsuit funding, you can allocate the funds as you see fit. Since every plaintiff’s needs are different, it’s up to you to decide what expenses you pay while you’re seeking compensation for your claim.
Clients of NY Legal Funding typically use their money for a wide range of critical needs:
Our legal funding may provide plaintiff investment funding and help you effectively pursue your personal injury claim. You’re also free to focus on what’s most important: your health and your financial security.
With NY Legal Funding, you could receive your funds in as little as 24 hours. We’re available to answer your questions and explain the process to you so you can make an educated decision. Reach out to our team today by completing our convenient online contact form.