Data from the Bureau of Labor Statistics (BLS) indicates that 2.7 million nonfatal injuries occurred in the workplace in 2020. Many of these injuries required missed workdays and hospitalization. If you were injured on the job, you might be able to seek financial compensation for these losses through a personal injury lawsuit.
While legal representatives can resolve some lawsuits quickly, most take months or years to settle. As a result, many workplace injury victims amass debt while waiting for their settlement. High Rise Financial can help you get the money you need with a workplace injury lawsuit loan today.
Workplace Injuries That Are Eligible for Legal Funding
Regardless of your employment circumstances, you can seek reimbursement if someone else’s negligence causes your on-the-job injury. This is accomplished by either filing a workers’ compensation claim through your employer or bringing a personal injury lawsuit against the at-fault party.
Pre-settlement funding can provide fast access to cash from your future workers’ comp or lawsuit settlement. This money will allow you to focus on your recovery from workplace injuries caused by:
- Slip and fall accidents: If someone failed to place warning signs around slippery areas or left debris in a walkway, you could easily fall because of their carelessness. Slip and fall accidents can result in a back injury, broken bones, or a concussion.
- Malfunctioning equipment: Many jobs involve machinery that could be faulty or worn down. Manufacturers and maintenance personnel are obligated to ensure that the work equipment you use will not cause injuries like accidental amputation or burns.
- Inadequate training: Your employer is responsible for training you on all the processes necessary to do your job safely. If you are injured because this training was not provided or was inadequate, they may be liable for your losses.
- Exposure to harmful substances: Contact with dangerous chemicals, excessive radiation levels, or scalding liquid can lead to severe burns or even long-term illnesses such as cancer. Your employer, supervisor, and co-workers must all follow proper safety procedures to ensure you are not injured at work by these substances.
- Excessive noise: A consistently loud environment like a factory or construction site can impact your short-term and long-term hearing. Employers must provide workers with training and proper protective equipment to guard against hearing damage that could affect your quality of life.
Is Legal Funding for Workplace Injury Lawsuits Worth It?
You should consider legal funding for your workplace injury lawsuit if:
- Your bills and expenses require immediate payment
- You’re worried about the debt you’re racking up while fighting your case
- You don’t have liquid reserves to keep your bills paid while seeking compensation
- You’re currently unable to work due to your injuries
- You have a strong case with a high likelihood of success
Legal funding also helps you defend yourself against the stall tactics used by insurance companies. Insurance companies like to drag out negotiations because they know you’re likely to be in a tight financial situation after your accident. A delayed settlement makes it harder for you to make ends meet.
The pressure can become too much, making you open to a lower settlement offer. Unfortunately, insurance companies want you to become so desperate for a settlement that they can get away with paying you next to nothing for your damages. You can prevent this from happening and protect yourself from their games by getting pre-settlement funding.
Be Cautious With an Early Settlement Offer
Trying to make you wait is not the only tactic that insurance companies will use to minimize the amount they have to pay. In fact, another one of their most common tactics is to try to pay you as quickly as possible. With this trick, the insurance company attempts to play the part of the helpful hero rushing in to rescue you.
In the immediate aftermath of an injury, you are likely looking at significant medical bills, and it is unclear when you will be able to get back to work. You may still be in shock and feeling the panic set in. The insurer will take this opportunity to show up and offer you a deal.
While it may be tempting at the time, you need to be aware that what they are offering is likely only a tiny fraction of the true value of your claim. Hiring a lawyer to deal with the insurance company and applying for legal funding can help reduce your stress levels and allow you to focus on healing knowing that your financial future is in good hands.
How Can I Use Pre-Settlement Funding?
We don’t restrict you on how you choose to use the legal funding we provide. You’re free to allocate your funds to whatever financial obligations you wish in most states. Most workplace injury victims use legal financing to cover their most essential and immediate expenses.
Did you know that something as simple as a broken bone can cost you thousands of dollars? Surgery is also expensive and can quickly leave you under a crushing load of debt while waiting for your compensation. Thankfully, you can use legal funding to pay your medical bills.
If you can’t afford the treatment you need on your own, our legal funding may protect you from a financial crisis.
Rent or Mortgage Payments
You need to keep up with your rent or mortgage payments while recovering and fighting your lawsuit. Unfortunately, if your injuries don’t allow you to work while you heal, it can be tough to make payments, putting yourself at risk of being evicted or having your home foreclosed. Legal funding can avert that headache by helping you cover these bills.
School or Tuition Fees
Textbooks, tuition, and housing are necessary expenses associated with pursuing an education. However, if your lawsuit drags on, at some point, you may need to choose between tuition or paying your utilities. Legal funding from High Rise Financial can help you avoid these circumstances by allowing you to cover your school-related costs as your case is resolved.
How Can I Improve My Chances of Getting Approved for Legal Funding?
The best way to increase the chances that a lender will approve your legal funding application for a workplace injury lawsuit is to hire an experienced workplace injury attorney. Unlike applying for a standard loan, approval for legal funding is not based on your credit history. Instead, the lending company will look at your odds of winning your lawsuit.
The reason why the strength of your lawsuit is so important for legal funding is because you don’t repay the money you borrow directly. Instead, the lender recovers the money they gave you from the party liable for your injuries once your case has concluded. The money that you received was really an advance from this compensation.
Through this system, the lender assumes all the risk because if you don’t get paid, they don’t recover the funding they gave you. Because of this, your application for legal financing after a workplace injury will likely only be approved if there is a high likelihood that you will get a payout from the liable party.
Acquiring Legal Funding Is Fast and Easy
All you need to do is fill out our free online application form or give us a call to help you get started. You only need to provide basic information about yourself, your case, and how much money you need. Then, our team reviews your application and can give you notification of approval within 24 hours.v
After that, you’ll likely receive your pre-settlement check by the next business day. Keep in mind that applying for workplace injury legal funding isn’t like applying for a traditional lawsuit loan. You aren’t required to provide financial documents or go through a credit check.
You don’t Pay Us Back If You Lose Your Lawsuit
Although commonly referred to as a “lawsuit loan,” legal funding is not a loan. You are not borrowing money from us. Instead, you are gaining early access to the compensation you expect to receive for your injuries.
Also, unlike traditional bank loans or lines of credit, our legal funding is non-recourse, which removes your risk and limits our ability to seek repayment. If you lose your lawsuit and fail to receive compensation from the defendant, you don’t have to pay us back.
Pre-Settlement Funding With Transparent Terms and Fees
Other legal funding companies sometimes trick their clients into paying high hidden fees or upfront costs. We never do this. We don’t charge unreasonably high interest rates, and we are always transparent in our transactions with you.
We’ll clearly outline the contract terms once we present our offer. That way, you’ll know how much the funds will cost, and you’ll never have to worry about surprise charges.
Our A+ rating on the Better Business Bureau (BBB) exemplifies our commitment to you and our drive to put your needs first.
Get Legal Funding Today for Your Workplace Injury Lawsuit
If someone else caused your workplace injuries, you deserve compensation for your recovery costs, lost wages, and pain and suffering. Don’t settle for less than what your lawsuit or workers’ compensation claim is worth.
High Rise Financial has helped hundreds of clients quickly get the money they need to keep fighting for their damages. You can submit an application for a workplace injury lawsuit loan or contact us online for free with no obligation. Alternatively, give us a call for more information.