Whether you suffered burns from a car catching fire due to a vehicle collision or chemical, thermal, or electrical burns due to a defective product, the resulting injuries can be severe and painful. Surface burn injuries can also penetrate the skin and lead to extensive fat, muscle, tissue, and bone damage.
No matter how your injury occurred, you need a way to maintain the costs of living after a burn injury left you with medical bills, lost income, and property damage. While you await compensation, burn injury lawsuit legal funding can provide you with the cash you need today.
In This Article
- What Burn Degrees Qualify for Pre-Settlement Funding?
- What Is Burn Injury Legal Funding?
- How Can Pre-Settlement Funding Help Burn Injury Victims?
- Is It a Good Idea to Take Out Another Loan?
- Legal Funding for Burn Injuries: Do You Qualify?
- Compensation for Burn Injury Victims
- How You Can Obtain Burn Injury Legal Funding
What Burn Degrees Qualify for Pre-Settlement Funding?
Various levels of burns can occur depending on their depth and the types of tissue that are affected. First- and second-degree burns are superficial, while third- and fourth-degree burns are deeper and more damaging. Third-degree burns can destroy nerves and tissues beneath the skin’s surface, while fourth-degree burns can penetrate into the bones.
In addition to symptoms like swelling, blisters, pain, scars, and loss of skin, severe burns may require corrective medical action such as surgery, skin grafts, and further painful procedures. These can be very expensive but necessary for the survival of the victim.
According to statistics of prevalence by the American Burn Association, male victims are affected at higher rates than females. Also, most accidents occur in the home rather than in the workplace.
Legal funding for a burn injury lawsuit is an attractive way to pay for treatment and cover lost wages during your recovery. So long as there is a party who can be held responsible, most burn injuries can qualify for pre-settlement funding.
What Is Burn Injury Legal Funding?
After suffering a catastrophic burn injury, your life may be completely turned upside down. Thankfully, if another party is responsible for causing your injuries, you can recover compensation for their negligent actions.
Sadly, the insurance and civil claims process often take far longer than many burn injury victims realize. When you are dealing with excruciatingly painful injuries, waiting for your settlement to come in can feel disheartening. Not only are you struggling financially, but your emotional pain and physical injuries may make it difficult for you to live your life normally.
Burn injury legal funding may be the answer you have been looking for. When you are expected to recover compensation through an insurance settlement or civil claim, you may be able to access legal funding in advance. You can think of burn injury legal funds as a way to obtain a portion of your settlement ahead of time.
How Can Pre-Settlement Funding Help Burn Injury Victims?
Burn injuries can lead to high medical bills, a loss of income, and a lengthy settlement process. This can motivate accident victims to take a lower reward instead of pressing for the maximum value of their claim. Instead of taking a lesser settlement in the face of immense financial pressure, you can obtain pre-settlement funding to cover your current expenses.
This funding is based on the estimated value of your future settlement. It isn’t considered a loan and doesn’t have to be repaid unless you win. With legal funding for your burn injury lawsuit, you can have peace of mind as your case progresses.
Is It a Good Idea to Take Out Another Loan?
If you are having trouble covering your bills, putting food on the table, or otherwise making ends meet while you wait for your burn injury settlement to come in, you may be wondering whether it is in your family’s best interest for you to obtain another loan. Fortunately, lawsuit loans are not like the traditional loans most people think of when they hear the term “loan.” With a traditional loan, you will need to approach a credit union, bank, or other financial institution.
You will need to provide them with proof of your income, credit references, employment history, and other personal information to get approved for a loan. This loan will carry compound interest that can vary depending on how good your credit is. Typically, only individuals with high credit scores will be approved for loans.
What if I Have Poor Credit?
Those who have poor credit will either face application to Niles or be forced to accept exorbitantly high interest rates. Burn injury loans are different. After suffering a burn injury, you can apply for legal funding without needing to have good credit or be employed.
In fact, after having suffered a devastating burn injury, it is very likely you will, at least temporarily, be out of work and unable to earn a living. Lawsuit loans are non-recourse, so you will not be expected to pay them back with your own income or if your attorney does not win your case. Legal funding for burn injury victims never incurs compound interest, unlike traditional loans that typically put victims in further financial straits.
The great thing about legal funding for burn injury victims is the minimal risk. Since you will not be expected to pay back these funds if your lawyer does not win your case, there is little to no risk in applying for the legal assistance you need when you need it most.
Legal Funding for Burn Injuries: Do You Qualify?
You may have concerns that you will not qualify for pre-settlement funding. However, as previously mentioned, you do not need to have a good credit score to get approved for a lawsuit loan. In fact, High Rise Financial loan specialists will never run your credit to determine whether you should be approved for legal funding.
However, that does not mean we approve every lawsuit loan application that comes in. Instead, there are specific criteria that need to be met. This includes being a minimum of 18 years of age and having a burn injury attorney pursuing your civil case. If you are not represented by a lawyer, we will not be able to approve your loan application.
Having a personal injury attorney on your side means the attorney is confident in their ability to win your case. After all, if they are working with you on a contingency agreement, they are absorbing all of the costs of pursuing your insurance and civil claims. Your attorney‘s dedication to your case gives High Rise Financial the confidence we need to grant your request for burn injury legal funding.
Compensation for Burn Injury Victims
At this point, you may be wondering how much you could access in burn injury illegal funds. The truth is, every person’s case is different. Some parties are waiting for insurance settlements to come in that cover specific types of damages, while others are required to pursue both insurance and civil lawsuits to get the most out of their claim.
Our loan specialists will need to review your expected payout to determine how much we should authorize in burn injury pre-settlement funds. To do this, we will discuss your case at length with your attorney. Your personal injury lawyer will be seeking compensation for every single way your life has been affected by your burn injuries.
Some of the more common types of economic damages and non-economic damages awarded in burn injury lawsuits and insurance claims include:
- The excruciating pain burn injury victims experience
- The emotional trauma and mental anguish associated with injuries of this nature
- The embarrassment and emotional distress associated with disfigurement and skin scarring
- The burn injury victims inability to participate in activities and events they once found joy or pleasure in
- Diminished earning potential and lost income
- The costs of diagnostic imaging, burn injury treatment, medical equipment and devices, and other burn injuries associated medical expenses both now and in the future
After discussing your expected burn injury compensation with your attorney, High Rise Financial will have a better idea of how much we can approve your application for. Depending on the circumstances of your case, you could be awarded anywhere from $500-$1 million in burn injury legal funds. Find out more about your potential burn injury lawsuit loan when you contact our team to apply today.
How You Can Obtain Burn Injury Legal Funding
If you or a loved one was injured in an accident that caused burns due to third-party negligence, you may qualify for legal funding. If you have a pending legal claim or have filed a lawsuit with an attorney, contact High Rise Financial today to obtain legal funding for your burn injury lawsuit.
As opposed to a lawsuit loan or cash advance, High Rise Financial carries 100% of the risk and burden when determining whether to give an applicant cash funding. The money is given on a non-recourse basis, which means you only need to pay it back if you win your case or lawsuit.