Medical devices should enhance your quality of life, but defective equipment can exacerbate an existing problem. Plus, once you file a medical device lawsuit, the case could take months or years to deliver financial compensation through a settlement. In the meantime, you’ll have mounting bills and expenses.
But with pre-settlement legal funding, you don’t have to wait to receive your money. For example, a lawsuit loan for a defective medical device can help you cover your bills while awaiting compensation. Legal funding from High Rise Financial is non-recourse and comes with simple interest rates, saving you money on your final settlement.
What Makes a Medical Device Defective?
The U.S. Food and Drug Administration (FDA) monitors medical devices closely. Yet, despite careful oversight, defective and potentially dangerous products can still make it to the market.
A product liability claim could arise from mistakes the manufacturer made at any stage in production. For example, you or a loved one may have been injured because of errors in:
- Design: Before making the device, the manufacturer goes through a rigorous design process, tweaking and testing it to see if it works. If a flaw makes it through this stage, it will affect every unit subsequently produced.
- Manufacturing: Problems like human error or low-quality materials can lead to production-related flaws. These defects usually affect a limited number of units rather than the whole line.
- Marketing: When a manufacturer markets their devices, they must provide instructions on proper usage and warn about potential dangers. If they neglect this step or provide incorrect information, the device may not work properly.
If a defective medical device harmed you and you have legal representation, you may qualify for pre-settlement funding. The money you receive now can keep you financially solvent while your attorney negotiates and fights your legal battle for you.
Types of Defective Medical Device Lawsuits We Fund
We will fund personal injury accidents and incidents involving faulty medical devices. This includes the following medical equipment which may have caused injury or bodily harm to you or your loved one:
- Transvaginal mesh devices, which are net-like fabrics used to support a woman’s pelvic organs to correct prolapse
- Hip implants, the artificial joints that replace an injured or arthritic hip’s natural ball and socket
- Hernia mesh devices used by doctors to reinforce the damaged tissue around a hernia while it heals. Learn more: how much is hernia mesh claim worth?
- Essure, which are birth control devices implanted in a woman’s fallopian tubes that can cause damage if they migrate or create puncture wounds. Learn more: essure lawsuit compensation.
- IVC filter, a small wire device placed in the inferior vena cava to catch blood clots before they can reach the lungs
- Mirena IUD, a device placed in a woman’s uterus that releases the progestin hormone to prevent pregnancy
Consequences of a Faulty Medical Device
If you were injured by a faulty medical device, you likely underwent significant medical treatment to correct or repair the damage. Unfortunately, medical treatments and surgeries to repair or remove a defective device implant can be expensive.
Because of this hardship, you or your loved one may have a valuable claim against the manufacturer or distributor of that device. Additionally, any applicable insurance companies providing coverage may also owe you compensation.
If you qualify for legal funding for your defective medical device lawsuit, you can access up to 20% of your case’s value right away. The more you expect to receive in compensation for your losses, the more money you can access from litigation financing.
Qualifying for a Defective Medical Device Loan
Individuals can apply for legal funding at nearly any stage of their claim or case. For example, you can apply if your claim is in court and is in the litigation phase or if your attorney and a claims adjuster are still negotiating it.
If you lost income because of your injuries, paying your bills while waging your legal battles can be particularly challenging. When you apply for legal funding with us, we can get you the cash you need to pay for any expense, including:
- Medical bills
- Rehabilitation costs
- Rent or mortgage payments
- Tuition or childcare expenses
After applying for defective medical device lawsuit funding, an underwriter will review your case facts. They’ll remain in touch with your attorney when evaluating whether you qualify for cash funding for your legal claim.
Apply for Pre-Settlement Funding for Your Defective Medical Device Lawsuit Today
At High Rise Financial, we offer pre-settlement funding to clients awaiting defective medical device settlements. In addition, we offer fast and easy lawsuit funding approval. As a result, our clients can often get up to $100,000 in their bank accounts within 24 hours.
We serve clients throughout the United States and can answer any questions you might have about the process ahead. Contact us or apply online today, and we’ll discuss your needs to find out how we can best help you.