Sunnyvale Legal Funding
Sunnyvale has adopted a “safety first” approach with Vision Zero. The primary aim is to reduce fatalities related to on-road injuries. The initiative has seen a positive impact with a significant decrease in the number of collisions by 37% between 2012 and 2017. While that’s a good thing, there are still incidences of fatal accidents and injuries, which leave trailing medical expenses. In case you have a legal dispute regarding an accident and also battling a personal injury, presettlement funding can help tackle the expenses.
To get a traditional loan, one has to go through multiple stages and your credit score is a factor in consideration. Your assets are also verified. In case you lose the case, you will have to pay back with interest. But for settlement loans, the requirements are very less and it is a non-recourse loan, which does not have to be repaid in case you lose the legal battle. While the court proceedings can take years to process, a settlement loan can be availed in 24 to 48 hours.
Who can apply for lawsuit funding in Sunnyvale?
- An individual with a pending personal injury lawsuit in California
- You have a hired attorney for the case
- Your medical expenses cannot be easily met
Laws and Regulations for Pre Settlement Loans in California
There are a few laws regulating the pre settlement funding in California as under:
- The statute of limitations is 2 years for intentional torts and 1 year for slander
- The minimum policy limits are $15,000 for body injury per person, $30,000 per accident, and $5000 per accident.
- Fault laws in California allow accident victims who have been injured to be compensated no matter whether they are faulty or not. But the total compensation is reduced.
How to apply for legal funding in Sunnyvale?
The application procedure is mostly the same in all states. Once you find a reliable lawsuit loan company, you will have to fill out an online form with all details of the accident, amount, and submit the number of your attorney. The company appoints a trained attorney to analyze your case and the chances of winning the settlement. Once approved, you will likely receive the money in your account in the next 24 hours. Your attorney has to agree to receive third-party settlement funding.
How can you spend your lawsuit loans?
Once you get the pre settlement loan amount, you can spend the money as you wish. But you should use it mostly for paying bills, rents, and clear debts. You can also pay your healthcare and medical expenses through this cash since those expenses are higher.