What Types of Plaintiff’s Cases Are Eligible for Pre-Settlement Funding?

What Types of Plaintiff’s Cases Are Eligible for Pre-Settlement Funding?

What Types of Plaintiff's Cases Are Eligible for Pre-Settlement Funding?

When you’re in the midst of a legal battle, the last thing you want to worry about is how you’ll make ends meet while waiting for your settlement.

Pre-settlement funding can provide a much-needed lifeline during this challenging time, allowing you to focus on your recovery and your case. But what types of cases are eligible for this type of funding?

In this article, we’ll explore the various types of plaintiff’s cases that may qualify for pre-settlement funding, including personal injury, medical malpractice, product liability, and employment law cases.

Types of Cases Eligible for Pre-Settlement Funding

Not every case meets the criteria for pre-settlement funding. Let’s take a look at the types of cases that qualify:

Personal Injury Cases

Personal injury cases are among the most common types of cases eligible for pre-settlement funding. These cases arise when someone is injured due to another party’s negligence or intentional actions. Some examples of personal injury cases that may qualify for funding include:

  • Auto accidents (car, truck, motorcycle)
  • Pedestrian accidents
  • Bicycle accidents
  • Slip and fall accidents
  • Premises liability cases
  • Dog bites and animal attacks

In our experience, auto accidents are the most frequent type of personal injury case we fund. According to an early estimate by the National Highway Traffic Safety Administration, there were 40,990 motor vehicle-related fatalities in 2023.

The severity of injuries and the complexity of these cases can vary greatly. However, pre-settlement funding can provide crucial financial support for accident victims as they navigate the legal process.

Medical Malpractice Cases

Medical malpractice cases involve injuries or harm caused by healthcare providers who fail to meet the standard of care. These cases can be complex and time-consuming, often requiring extensive expert testimony and evidence. Some examples of medical malpractice cases that may be eligible for pre-settlement funding include:

  • Surgical errors
  • Misdiagnosis or delayed diagnosis
  • Birth injuries
  • Medication errors
  • Nursing home abuse and neglect

We’ve commonly seen cases where a misdiagnosis or delayed diagnosis has led to significant harm for the patient, requiring ongoing medical treatment and leading to substantial damages.

A very recent example is the Maya Kowalski case, involving charges of medical malpractice, wrongful death and battery by the hospital, which led to Maya’s forced confinement and her mother’s suicide.

Product Liability Cases

Product liability cases arise when a defective or dangerous product causes injury or harm to a consumer. These cases can involve a wide range of products, from medical devices to consumer goods. Some examples of product liability cases that may qualify for pre-settlement funding include:

  • Defective medical devices (e.g., hip implants, transvaginal mesh)
  • Dangerous or recalled pharmaceuticals
  • Defective consumer products (e.g., appliances, toys, electronics)
  • Faulty vehicle components (e.g., airbags, brakes, tires)

In a case we funded, a defective hip implant caused severe pain and required multiple revision surgeries for the plaintiff. Our pre-settlement funding helped the plaintiff cover their medical expenses and living costs while their attorney fought for a fair settlement.

Employment Law Cases

Employment law cases involve disputes between employees and their employers, such as discrimination, harassment, or wrongful termination. These cases can be emotionally and financially draining for the employee, who may have lost their primary source of income. Some examples of employment law cases that may be eligible for pre-settlement funding include:

  • Wrongful termination
  • Discrimination (age, gender, race, disability)
  • Sexual harassment
  • Retaliation
  • Unpaid wages or overtime

In the 1986 case of Meritor Savings Bank v. Vinson, the U.S. Supreme Court ruled that sexual harassment creating a hostile work environment violates Title VII of the Civil Rights Act of 1964. The case involved Mechelle Vinson, who alleged severe sexual harassment and assault by her supervisor, Sidney Taylor, during her employment at the bank.

Despite any biases, we recommend that employees facing these types of legal battles consider pre-settlement funding to help them stay afloat financially while their case is pending. It can be a powerful tool to level the playing field against employers with deep pockets.

Other Types of Cases

In addition to the categories mentioned above, there are several other types of cases that may be eligible for pre-settlement funding, such as:

  • Class action lawsuits
  • Qui tam (whistleblower) cases
  • Civil rights violations
  • Environmental lawsuits (e.g., toxic exposure, contamination)

A question we come across frequently is whether class action lawsuits are eligible for pre-settlement funding. The answer is yes! In fact, we’ve provided funding for several high-profile class action cases, including those involving defective medical devices and dangerous pharmaceuticals.

Factors That Determine Eligibility for Pre-Settlement Funding

While a wide range of cases may be eligible for pre-settlement funding, not every case will qualify. Several factors come into play when determining whether a case is a good candidate for funding, such as:

  • Strength of the case and likelihood of success
  • Extent of injuries and damages suffered
  • Expected settlement amount or jury award
  • Duration of the legal process
  • Representation by a qualified attorney

Let’s consider a hypothetical example to illustrate these factors. Imagine a construction worker who suffers a severe spinal cord injury after falling from a scaffolding that was improperly secured. The worker is unable to return to work and faces mounting medical bills and living expenses.

In this scenario, the strength of the case would depend on factors such as whether the employer violated any safety regulations, whether there were witnesses to the accident and the extent of the worker’s injuries. If the case appears to have a high likelihood of success and the expected settlement or award is substantial, the worker may be a good candidate for pre-settlement funding.

The duration of the legal process is also a key consideration. If the case is expected to take several years to resolve, the worker may have a more pressing need for financial assistance in the short term. Representation by a qualified attorney is also crucial, as it can impact the strength of the case and the likelihood of a favorable outcome.

Benefits of Pre-Settlement Funding

For plaintiffs who are eligible, pre-settlement funding can provide numerous benefits, such as:

  • Access to funds to cover living expenses, medical bills, and other costs
  • Ability to pursue a case without financial pressure to settle prematurely
  • No credit checks or employment verification required
  • No monthly payments or upfront costs
  • Funding is non-recourse, meaning you only repay if you win your case

One of the most significant advantages of pre-settlement funding is that it can level the playing field between plaintiffs and defendants. In many cases, defendants (particularly large corporations) have vast financial resources at their disposal, allowing them to drag out legal proceedings and pressure plaintiffs into accepting lowball settlement offers.

With pre-settlement funding, plaintiffs can afford to pursue their case for as long as necessary to achieve a fair outcome. They don’t have to worry about how they’ll pay their bills or put food on the table while their case is pending. This can be a game-changer, empowering plaintiffs who might otherwise feel pressure to accept an unfair settlement offer.

Another key benefit of pre-settlement funding is its non-recourse nature. This means that if you don’t win your case, you don’t have to repay the funding. The funding company assumes the risk, providing a sense of security for plaintiffs who are already facing a stressful and uncertain legal battle.

Takeaways and Next Steps

Pre-settlement funding can be a valuable tool for plaintiffs in a wide range of cases, from personal injury to employment law. If you’re considering applying for funding, here are some key takeaways and next steps:

  • Consult with your attorney to determine whether pre-settlement funding is right for your case
  • Research reputable funding providers, such as Tribeca Lawsuit Loans, to find the best fit for your needs
  • Gather necessary documentation, such as police reports, medical records, and legal filings, to support your application
  • Work with your attorney and funding provider to determine an appropriate funding amount based on your expected settlement or award

Remember, pre-settlement funding is not suitable for every case, but for many plaintiffs, it can provide a vital lifeline during a challenging time. If you have questions or need assistance, the loan representatives at Tribeca Lawsuit Loans are here to help. Call us today at 866-388-2288 to learn more!

Frequently Asked Questions (FAQs)

How long does it take to receive pre-settlement funding?

In most cases, you can receive funding within 24-48 hours of approval. The application process is quick and straightforward, and we work hard to get you the funds you need as soon as possible.

Will applying for pre-settlement funding impact my credit score?

No, applying for pre-settlement funding will not impact your credit score. We don’t perform credit checks as part of the application process, and the funding is not reported to credit agencies.

Do I have to pay anything upfront to receive pre-settlement funding?

No, there are no upfront costs or fees associated with pre-settlement funding. You only repay the funding if you win your case, and the repayment comes out of your settlement or award.

Can I apply for pre-settlement funding if I’m receiving workers’ compensation benefits?

Yes, you may still be eligible for pre-settlement funding even if you’re receiving workers’ compensation benefits. However, the specific circumstances of your case will impact your eligibility, so it’s best to consult with your attorney and a funding provider to determine your options.

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