Types of Lawsuits
Pre-settlement funding is a way to get the money you need to cover your expenses until your case settles. However, every lawsuit is different, and many companies will only offer funding to specific types of claims. At Peachtree Financial, most of the pre-settlement funding companies we work with specialize in personal injury claims.
Personal injury lawsuits are claims for damages for pain and suffering, medical costs, lost wages, or long-term care due to your injury.
The Law Dictionary
reviewed trial information from the Bureau of Labor Statistics and found that as many as ninety-five percent of cases settle out of court. Victims want to put their injuries behind them, and it’s in the best interest of most defendants to avoid the publicity and cost going to trial might cost them. Another reason these cases often settle out of court is that trials take a long time.
If a court date is set, the first phase of a personal injury claim is known as the “discovery” period. During this time, attorneys for both parties assemble paperwork and conduct interviews to match the stories. This period can take up to six months -- even longer if one party asks for an extension. The rest of the trial usually starts once the discovery period is over.
Getting pre-settlement funding for your personal injury claim can help you cover your expenses while you wait for your case to settle.
An auto accident lawsuit covers any injury or property damage where the defendant was in a vehicle. This can include everything from a fender bender on the highway to a vehicle striking a pedestrian or bystander. Auto accidents can also result in serious injuries.
Auto accident pre-settlement funding can help you pay for what you need while you wait for your lawyer to settle the claim.
Public Transit Accidents
Bus drivers and other public transit operators are trained professionals, but accidents can still happen. Like car wrecks, a bus crash could be a small fender-bender or a massive crash that results in serious injury or death.
Unfortunately, municipal organizations like public transit can be slow-moving. In some cases, achieving a settlement from the municipality could take much longer than it would from a private business or individual, especially if there are multiple people filing claims.
Getting pre-settlement funding while you wait for a public transit case to settle can help you pay bills and cover other costs while you wait for your case to proceed.
Premises accidents can occur on public or private land and concern several different injury types, including: slip-and-falls, dog bites, inadequate maintenance, swimming pool accidents, and elevator and escalator accidents.
If an injury occurs on property owned by another, your lawyer must establish that the owner or business is responsible for what happened. This is known as liability. Like other personal injury claims, reaching a settlement could take a long time.
While you’re waiting for your premises liability case to settle, you can use pre-settlement funding to help pay for medical bills or other expenses.
When a company creates or sells unsafe products that cause harm, it may be responsible for any injuries that occur. For example, if a company makes a car with faulty brakes that cause an accident, they may be responsible if a customer is injured before the faulty brakes are recalled. The company did not intend to cause harm, but they’re still responsible for it.
Before being found liable, the court must determine what company is responsible for the malfunction. This can include:
- The store that sold the product
- The company that created the design
- The warehouse or factory that assembled it
- The company that made the specific part that failed
Most of these cases cover negligence or breach of warranty and can be issued against multiple parties. All of this takes time, and your bills won’t stop coming while you wait for a settlement. Contact us, and we could connect you to a company that offers pre-settlement funding for your product liability lawsuit .
If you get injured on the job, you may be eligible for workers’ compensation. When you are employed by someone else, your employer is responsible for providing you with a safe working environment. If they don’t and you get injured, you may be eligible for workers’ compensation.
In general, it’s in the best interest of employees and employers to settle workers’ compensation claims as quickly as possible. Serious injuries, such as a back injury or broken bones, could require physical therapy to help you recover your full strength. Entering therapy soon after your injury can be an effective way to speed up your recovery, but the visits can be pricey for workers to pay for on their own. Waiting for your workers' compensation claim to settle before continuing treatment can have long lasting consequences.
One study found that employees who were out of work for more than 12 months due to a work-related injury only had a 25 percent chance of returning to work. If they’re out for two years or more, there is almost no chance they’ll go back to work. If your injury permanently removes you from the workforce, your former employer could have to make workers’ compensation payments for the rest of your life.
Because of this, many companies try to settle claims as quickly as possible as this will help their employees continue their recovery process and get back to work more quickly. However, this process could still take months . If you have a pending workers’ compensation claim , we could connect you to a company who may be able to offer you cash in exchange for a portion of your future settlement proceeds.
Pre-Settlement funding is only available for workers' compensation claims in certain areas. Please speak with a Peachtree Financial representative to determine if you qualify.
If you’re interested in learning more about your pre-settlement options, give us a call. We’ll ask you a few questions about your lawsuit and then let you know if we can find you funding so that you don’t have to worry about going into debt while you wait for your case to settle.
Peachtree Financial does not offer legal, tax, or financial advice. Please contact independent professionals for those services.