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Here at High Rise Legal Funding, we know that dealing with the financial stress of a truck accident can take a toll on the victim. If you need funding to help manage your expenses, read on to learn more about the timeline for truck accident settlements. We also give you an overview of legal funding and discuss how legal funding for 18-wheeler truck accident lawsuits can benefit you.
Settling a Truck Accident Lawsuit
When you file a claim after a truck accident, it typically won’t resolve quickly. Even before a claim is filed, a great deal of time can be needed to gather all the pertinent documents. Individuals filing lawsuits should prepare for their case by taking the following steps:
- Ensuring there is a strong case for a lawsuit
- Collecting evidence pertaining to the accident to help support arguments during the negotiation phase
- Undergoing medical treatment for injuries
- Calculating all damages accurately
Negotiating with the Insurance Company
Once a claim has been filed, many victims find that dealing with the insurance company can be a complex process. Unfortunately, insurance companies tend to stall during the negotiation phase, hoping that the victim will settle for less. This is because the longer it takes to resolve a lawsuit, the more a victim is willing to settle.
How Long does Settlement Take?
The time that it takes for a truck accident case to settle varies. However, it’s important to know that these types of cases take time. With that said, truck accident lawsuits typically take several months—and even longer if the case goes to trial.
What Is Legal Funding?
While waiting on a settlement can certainly be frustrating, there are options available for victims who need to cover the cost of their expenses in the interim. Legal funding is a type of cash advance that is specifically designed for injured plaintiffs in the litigation process.
Is Pre-Settlement Funding the Same as Having a Loan?
Legal funding is not the same as obtaining a loan. Unlike a loan, the plaintiff doesn’t have to worry about going into debt. This is because the monetary lien is placed on their case and not on the plaintiff themselves.
Essentially, the legal funding company provides money to the plaintiff in exchange for a piece of the legal claim’s settlement or trial reward. This allows the client to access cash when they need it, while the legal funding company expects to see a return on their investment when the case comes to an end.
How a Lawsuit Loan Can Benefit You
Obtaining legal funding offers a variety of benefits to plaintiffs who need to bridge financial gaps while they wait for their settlement. The various benefits of legal funding are outlined in the sections below.
It Is Risk-Free Funding
For plaintiffs, investing in pre-settlement funding is risk-free. For individuals dealing with serious injuries and even permanent damage from a truck accident, getting into debt is the last thing they need.
Thankfully, with legal funding, plaintiffs don’t have to worry about repaying the settlement funds if they lose the settlement. This is because legal funding companies take on the full investment risk to finance a lawsuit.
Great Flexibility
As opposed to a conventional loan, legal funding does not include the same strict terms that are often unfavorable to those who have obtained the loan.
With legal funding, plaintiffs don’t need to worry about interest rate variations and timely payment deadlines. In fact, legal funding programs are a lot more relaxed and favorable to plaintiffs, offering a safer and stress-free way of accessing the needed funds.
Helps with Medical Treatment
Truck accidents often result in some form of injury, whether mild or severe. Obtaining medical treatment for any type of injury is important, but it can also be a financial burden. Legal funding can help you cover the costs of any medical treatments you undergo while waiting for your settlement.
Funding Is Fast and Easy
Truck accidents are unexpected and being hit with expenses after the fact can easily become overwhelming. The good news is that you can obtain funding as soon as the next day. In addition, you don’t need to worry about undergoing a credit check or having a job in order to get the funds you need.
Qualifying for Funding with High Rise Legal Funding
If you’re interested in obtaining a lawsuit loan while you wait for your settlement, there are a few requirements that are important to meet. They include:
Live in a State that Allows Legal Funding
Not all states favor legal funding due to liability laws. Be sure to know the requirements for your state before moving forward.
You Have a Viable Personal Injury Lawsuit
Without a valid personal injury lawsuit in progress, you will not be able to obtain legal funding. This means that your lawsuit must be filed in court. You don’t need to be mid-trial, but you must be pursuing a lawsuit to secure funding.
Have an Attorney
You will need to have an attorney, as we work directly with lawyers when scheduling a repayment agreement.
Have an Eligible Case
Not every claim qualifies for pre-settlement legal funding. Be sure to review the cases we fund to determine whether your case qualifies.
Obtain Legal Funding Today
Here at High Rise Legal Funding, we know how stressful managing your expenses while you wait for your settlement can be. If you have a valid personal injury case for a truck accident, contact us today to learn more about our pre-settlement legal funding for 18-wheeler truck accident lawsuits.