Pre-settlement Funding for Wrongful Death Cases
Families may be left with a huge financial burden if a loved one passes away unexpectedly due to another person’s appalling negligence. In such a situation, you are entitled to settlement funding. However, It might take months or even years before you receive the money from your settlement lawsuit, even if you have a strong wrongful death case. The time spent anxiously anticipating your settlement can be frustrating. This is why there is a great need for a pre-settlement loan.
Table of Contents
- What is Legal Funding?
- What is the Process of Getting a Pre Settlement Loan?
- Wrongful Death Cases- Basic Things You Need to Know
- Benefits of Pre-settlement Loans for Wrongful Death Lawsuits
What is Legal Funding?
Legal funding or lawsuit loans is a procedure used to give a plaintiff with a personal injury case financial relief while their case is still pending. Instead of a traditional loan, this funding source is based on a forthcoming settlement or successful outcome. Companies that offer lawsuit loans are becoming increasingly popular among plaintiffs and the attorneys who represent them.
What is the Process of Getting a Pre Settlement Loan?
Getting a pre-settlement loan or pre-settlement cash advance is very simple. The first thing you should do if you’re a plaintiff needing money is get in touch with a legal funding company and submit an application. If you meet the requirements, the company will contact your personal injury lawyer to get more details about your case.
An underwriter will then examine your application after that. If accepted, you, your lawyer, and the legal funding business can sign a formal contract. Finally, the funds will be transferred to your account, where you can use them to pay for ongoing expenses or other bills, such as those for medical care.
Wrongful Death Cases- Basic Things You Need to Know
A wrongful death claim is filed by the victim’s family or personal representative against those responsible for the fatality. They can file a lawsuit or agree to a settlement to obtain compensation for the deceased’s medical bills and pain and suffering before death. Furthermore, they may also be compensated for funeral and burial expenses. It may even compensate for losing the deceased’s future income and companionship.
Causes/Types of Wrongful Death Cases
Wrongful death lawsuits can occur when a person’s death is caused by the carelessness or intentional actions of another party. Here are some common examples.
- Negligence: A defendant may face wrongful death claims if they cause harm due to their negligence. To pursue a negligence claim, the plaintiff must show that the defendant acted with a lower level of care than what a reasonable person would have demonstrated in the same situation. Some examples include failure to warn, animal attacks, car accidents, etc.
- Intentionally: When a death was caused by a deliberate attack, such as a murder or an assault or battery, a wrongful death claim may be made.
- Malpractice: This is sometimes mistaken for negligence. While it may appear the same, this is strictly for medical care cases. In a wrongful death lawsuit, the plaintiffs may claim that the death occurred due to a medical professional’s failure to meet the standard of care required by their profession. The plaintiffs must prove that the death was directly caused by this failure.
If your situation fits into one of the above categories, you should consider filing a wrongful death claim to recover damages.
Can I Pursue a Lawsuit for Wrongful Death?
Obviously, a victim of a wrongful death cannot file a lawsuit on their behalf. So, who is qualified to receive a wrongful death lawsuit? Those who can typically make this type of claim include:
- Survivors’ spouses
- Children or parents
- Other members of the immediate family
- A personal representative of the estate of a deceased person
Please keep in mind that the specifics of who can file a claim are conditioned by the wrongful death law in the state where the fatal incident occurred.
As good and simple as filing a lawsuit may seem, one major challenge people often encounter is the ‘time challenge. ‘ It is almost impossible to get your compensation instantly. In a situation like this, as you are pressing for your compensation, make sure you apply for legal funding, also called a pre-settlement cash advance or pre-settlement loan.
Benefits of Pre-settlement Loans for Wrongful Death Lawsuits
Legal funding has several important advantages for the plaintiff during a wrongful death lawsuit. When bills begin to pile up while you are grieving for a loved one, pre-settlement funding provides these advantages;
1. Defence Against defendant’s Insurance Company
Insurance companies are notorious for delaying settlements or trials. While this may appear unfavorable to them, the truth is that it allows them to gain a foothold. This is because they are attempting to take advantage of you after you have suffered the wrongful death of a loved one.
The longer they put off your settlement, the more difficult it is to be patient. When combined with rising debt, you will be more willing to accept the insurance company’s terms, which means accepting cheaper. Legal funding can provide you with the funds you need to counteract their delay tactics and continue to fight for the settlement you demand.
2. Settling Pressing Bills or Needs
You may be in financial difficulty while facing your wrongful death lawsuit. Dealing with a wrongful death can be financially and mentally draining, and you may require assistance quickly to make payments.
Once you apply for wrongful death legal funding from a reputable pre-Settlement funding company, you should receive an approval notification within 24 hours. Following that, you will receive your funds.
However, there are some factors beyond a legal funding company’s control, such as your bank’s processing times and the speed of mail delivery.
3. No Credit Check or Financial Documents Required
This is one of the mind-blowing benefits of legal financing companies. They do not require your credit check nor financial report, or documents. They don’t need to know anything about your past or present financial situation, so they don’t ask for it. Since they don’t charge interest, they won’t contact you about any interest you may owe years from now. All they may require from you and your lawyer is proof and assurance of a solid case.
A loved one cannot be replaced by money. However, it will cost money to pay tribute to the one you lost. Money is also required when bills, such as hospital bills, must be paid! You will not want to pay for the mistakes or negligence of others. This is why you must file a wrongful death lawsuit. However, just like anything else, filing a wrongful death case can be tasking, usually when the defendant isn’t dancing to your beat. However, with pre-settlement funding, you are financially prepared and afforded more time to get your deserved settlement.
Do you want to know about the difference between a lawyer and an attorney? You can read this article.