You can bring a case against the other side under the U.S. justice system, whether you have been involved in an accident or are suffering through physical, mental or financial effects. If you are a personal injury victim, you have the right to file a lawsuit against the party involved. Though filing and fighting the lawsuit can take up a lot of financial expenses. When you are running out of money and you are in the midst of a case, you will apply for support for the lawsuit in that scenario.
Benefits of lawsuit funding
We all know what an injured person goes through as sometimes the fighting the lawsuits is a long and tiresome process and consume a lot of your finances. To ease this law provides you help with finances. You can take findings against your lawsuit. There are other perks, along with financial assistance, as well as the financing of the Florida lawsuit. Before the procedure of funding is finished, parties will gather information that would be useful in winning the case. As the pressure of finances is gone the victim can focus more on the case and its preparation. Other than that, sometimes court cases can take up months or even years and negotiations of settlements can take a lot of time and sometimes clients cannot afford to wait till the settlement is cleared especially in the case of accidents as some injury may need immediate medical attention. Lawsuit funding is useful in these cases where a party is obligated to pay for medical expenses. Generally, the lawsuit funding process is quick and doesn’t take much time.
Why Should You Consider Lawsuit Funding
The victim will have to seek medical treatments in the event of personal injuries, whether physical or psychiatric, and often these procedures will cost a lot. Due to these medical treatments victim will have to miss the work and face a loss. If we talk about settlements it can take a lot of time as court cases may be stretched for months or years. Some victims get so tied of this long process that often they settle for less. Litigation assistance will allow you to continue healing and not risk your settlements. With the aid of litigation financing, without any concession, you will get the required compensation and care.
Lawsuit Funding Process
Under US laws it is easy for plaintiffs to take up the funds for lawsuits. Here is the process for lawsuit funding in Florida.
- Apply For Funds: Applying for the lawsuit funding is fairly easy in Florida. You can apply online or over the phone without much of obligations. Party will have to provide some basic information regarding your case and your attorney.
- Wait For Decision: The lawsuit funding company will verify your case with your attorney and company will decide if your case is genuine and should be funded or not. Within 24 hours clients can get the proposition.
- Get Your Funds: After getting the approval you can get the concerned amount and for that, you and your attorney will have to go through the contract and sign it. You will receive the funds within four hours.
Who Is Eligible For Lawsuit Funding
The biggest issue that emerges in the party’s head is whether or not I am entitled to support for the lawsuit. No lengthy list of qualifications for funding is required. If with the aid of a lawyer, you are prosecuting ongoing personal injury litigation, so you are eligible for funding for the action. US lawmakers recognize that maintaining their medical care and prosecuting the lawsuit can be hard for the victims as they can cost a lot and not everyone can handle it. That is why the eligibility for funding for litigation is fairly clear. Clients can apply for lawsuit funding under various areas like Road Accidents, Work Accidents, Wrongful Deaths, Defective Products, etc. Before applying for the funds it is advisable that plaintiffs go through each and every term and condition of the company before signing the contract. To apply for the lawsuit all you need is
- Personal details like your name, contact number
- case type
- Contact information of your attorney
You’ll have to wait for a decision after providing this detail. In order to learn more about your situation, the company will call your solicitor directly and will return you accordingly. Your funds will be given to you after acceptance.
Statute of limitations
There is a deadline for filing a case as per the rule, other claimants will not be able to get the recovery costs. For the victims, this may be harmful. The statute of limitations is considered this deadline. Below is the timetable for the Restriction Statute:
- Road Disaster – 4 Years
- Wrongful Death – 2 Years
- Medical Malpractices – 2 Years (After the discovery)
Florida is a no-fault state, so your medical costs will be paid no matter who is on the fault. All residents shall bear the following regulatory cap:
- Defense from Personal Injuries (PIP) – $ 10,000
- Liability for Property Loss (PDL) – $ 10,000
- PIP (Taxi Licensed Cars) – $50,000
- Liability for bodily injury (BIL) – $125,000 per person and $250,000 per case.
Legal Funding Company
Most of the time, plaintiffs don’t have options, but because of the lack of finance and long-running litigation, claimants usually are tiered and settle for lesser claims to settle their charges at even less value. Some lawyers take advantage of the condition and wait for it and make the lowest argument. To support genuine claimants so that they can get a just payout, Settlement Financing Firms were formed. Both claimants are encouraged to get support from the settling funding firms so that you can get financial aid with all the treatment costs and you can wait for your personal loss to collect the fair compensation price. It is very easy to get the lawsuit fund and you will get the funds within 24 hours.