There is no average class-action settlement per person. Every person suffers damage differently. What may be significant to you may be insignificant to another. And vice versa. Although there is no average class-action settlement amount per person, that does not mean you cannot be awarded compensation for your damages.
Although you may be anxious to find out how much your claim could be worth, the best way to find out is by contacting an attorney who can go over your damages in detail, quantify your losses, and ensure you are being compensated fairly. While your attorney works on recovering your class-action settlement funds, High Rise Financial can provide you with an advance on your settlement so you can cover your expenses and begin to put this difficult experience behind you.
In This Article
How Are Class-Action Settlements Determined?
Class-action settlements may be a group effort, but the way they are paid out is on an individual basis. Your payout will not be based upon the total amount awarded to your class but rather on a case-by-case basis. Every individual party’s claim has its own value.
For this reason, your attorney will need to go over every single way your life has been affected by your injuries, illness, damages, and the event that caused them to ensure you are being compensated fairly for your damages. However, since there is only a certain amount of money awarded to the entire class, it will be up to you to work with your attorney to show you are entitled to an amount that sufficiently meets your needs.
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Types of Recoverable Damages
When going over the ways your life has been affected by your injuries, your attorney will categorize your losses as being economic or non-economic. Economic damages account for the financial and out-of-pocket expenses, while non-economic damages will encompass how your life has been impacted.
Fortunately, in a class action lawsuit, you have the right to be repaid for every single loss. Some examples of types of damages that could be awarded in class action lawsuits include:
- The physical and chronic pain and suffering you may experience due to your injuries
- The emotional trauma, distress, mental anguish, and mental health issues resulting from your injuries
- Lost wages, loss of contributions to your retirement savings plans, loss of potential bonuses and salary increases, and reduced earning potential in the future
- Total recovery of your medical expenses, including transportation fees, prescription medication costs, co-pays, ambulance bills, hospital stays, and any future medical care
- Compensation for your property damages, including auto repairs, repairs to your home, out-of-pocket expenses, and damage to personal property such as smartphones or other electronics
- Loss of consortium, including a relationship with your spouse and children, loss of guidance and support, loss of protection and advice, loss of comfort and society, and loss of love and companionship
These are just a few of the different types of losses you could be awarded as part of your class action lawsuit. Working with your attorney, you will go over each and every way you have been affected by your injuries to ensure you are seeking maximum compensation for your suffering and damages.
When Are Class-Action Settlements Paid Out?
It is difficult to say how long it could be before your class-action settlement has been paid out. There are many factors that will be taken into consideration including:
- Whether you are dealing with an insurance company
- If your case is being heard and binding arbitration
- Whether a verdict has already been reached
- How long the courts gave the defendant to pay up
- Whether the defendant is appealing the class action decision
Do not be surprised if it takes months, years, or longer before you receive your class-action settlement payout.
What Are Your Options?
Unfortunately, your options may be limited when you are waiting for your class-action settlement to be paid out. After a decision has been made in your case, your attorney will then need to work to secure your portion of the settlement.
This could take a considerable amount of time. Thankfully, when you contact High Rise Financial for help, you may be able to find financial relief at last.
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Do You Qualify for Pre-Settlement Funding?
Pre-settlement legal finding may be a good option for those waiting for class-action settlement payouts to come in. If you are working with an attorney to recover compensation after you have suffered injuries or damages caused by someone else’s negligence, we may be able to provide you with a portion of your settlement ahead of time. If you have been struggling to make ends meet, getting further into debt, and are unable to stay afloat, accessing a lawsuit loan could be in your best interests.
The best news? If your attorney does not win your case, you will not be expected to pay back your pre-settlement funding. With class action lawsuits, this can come as a relief if you are already having trouble financially.
Your source of income and credit score are irrelevant when applying for pre-settlement funding with High Rise Financial. Instead, we are going to be looking at the likelihood that you will be compensated through your class action lawsuit to determine how much we can authorize in pre-settlement funding for your class action.
Call Today for Access to Your Class-Action Settlement Funds
Class-action settlement funding can come in a wide array of amounts. To find out how much your case is worth, your attorney will go over all of the ways your life has been affected by your injuries, illnesses, damages, and experiences to ensure you are seeking maximum financial recovery.
When your attorney is working on your pending case, our team of all specialists at High Rise Financial is here to give you hope. Fill out our application today to access your pre-settlement funds in advance. You can contact our team by phone or through our quick contact form if you have questions or concerns about your class action pre-settlement funding.