Working on an oil rig is dangerous and requires people to take on risks every time they go to work. These inherent risks should not mean you will suffer an injury. If you do, compensation must be available.
An oil rig lawsuit will take time, and you are suffering financial hardship while you await the outcome. One option to circumvent these struggles is through oil rig accident lawsuit loans.
It is a win-win for everyone except the opposing counsel. You get cash relief, and your lawyer can continue to fight for you. High Rise Financial offers oil rig and personal injury victims financial recourse so they can rest easy.
In This Article
The Jones Act
The Jones Act applies to maritime commerce but also governs other naval vessels. Essentially goods transported between U.S. ports must be done on ships owned, built, and operated by permanent residents or U.S. citizens.
The Jones Act outlines safety measures for sea workers who take risks every day they go to work. When workers sustain injuries, they are eligible for cash settlements.
Injured oil rig workers should consult with a lawyer to determine how to navigate the legal process. There are different options available, and once you make a claim, you can lose your ability to amend it for a Jones Act claim. A lawyer is also crucial for obtaining an oil rig accident lawsuit loan.
Qualifying for Oil Rig Accident Lawsuit Loans
Oil rig lawsuit loans are not dependent on your credit score or current employment status. It is risk-free and helps injury victims stay out of debt. High Rise Financial will consider whether you have an attorney, the severity of your injuries, and case merit when deciding your eligibility.
Since we are taking on all the risk, it is vital that we know the possible outcomes of the case and how much you might receive. When our representatives have an idea of your case, they’ll do some calculations and offer legal funding for a percentage of your settlement.
The advance will range from a few hundred to a few thousand dollars. These funds can help you pay bills while awaiting your payment. Many oil rig victims cannot work or earn supplemental income while in a personal injury lawsuit, and lawsuit loans can help them fight longer.
The Application Process Is Easy
When you need money after an oil rig accident, you can apply for a lawsuit loan from High Rise Financial. It’s as easy as one, two, three.
You can speak to our representatives, who will gather pertinent information from you, such as your name, injuries, and attorney contact information. They will contact your lawyer to gather further information about the case and review your application. After reviewing your case, we will send you a proposed oil rig accident lawsuit loan agreement for your review.
If you accept the terms, we will send you the funds.
How Lawsuit Loans Work
Lawsuit loans allow plaintiffs in civil matters to get cash upfront for a pending legal case. It doesn’t take away from your ability to get financial compensation but can benefit the lawsuit.
The claims process takes time, and it is extended when you have to file a lawsuit. Your case can take months or years to resolve, and you have no income or financial sources during that time. The insurance company relies on your lack of income to delay the case.
Pre-settlement funding allows you to get money for your settlement now instead of in a few years when your claim settles. It is non-recourse debt, so borrowers do not pay it back from personal funds.
Repayment comes at the end of your oil rig accident claim. When you settle the claim, the attorney will pay the medical providers, themselves (legal fees), and your legal funding company. You keep the rest and refrain from worrying about repaying anyone.
Lawsuit Loans vs Traditional Loans
An oil rig accident lawsuit loan is different from a traditional bank loan. When applying for conventional loans, the bank or other lender requires proof of income, a stellar credit score, and credit references. You will also have a payment plan set up immediately, and if you fail to make a payment, the lender can garnish your wages and taxes and take other legal actions to get repayment.
These loans are more well-known and have a higher risk for injury victims. Your injury can prevent you from working, which means you cannot repay a traditional loan. Lawsuit loans only look at your injury claim, and your lack of employment will make no difference in eligibility.
There are no payment plans, and you owe nothing if you lose your case. You walk away without taking any risks and keep the cash advance. Interest rates differ for both loans, with lawsuit loans having lower rates and timelines.
Benefits of Legal Funding
Two key benefits come from oil rig lawsuit funding. The first is you get money to cover your losses while you wait for your settlement. The second is you can get a larger settlement.
Insurance companies intentionally delay legitimate claims because they want the injury victim to become desperate. They will use your desperation to offer an appallingly low payment, and you will take it because you need the money. Unfortunately, once you accept a settlement, you cannot seek more.
However, you can get more if you are patient and the insurance company doesn’t wear you down. So, getting pre-settlement funding for your oil rig accident can thwart the insurance company’s plans to lower your payment. With more money now, you can get more money later.
Get the Money You Need Today!
Whether you are waiting for a maritime, workers’ compensationm or Jones Act settlement, the process is long, and you need financial assistance. Lawsuit loans can help cover living expenses until you receive a cash settlement. High Rise Financial offers pre-settlement funding for injury victims nationwide, and we can help you too.
Call and speak to our representatives and get the cash you need now.