Recognizing the financial difficulties that the plaintiffs may face during the trial phase of a wrongful death lawsuit, are now offering wrongful death lawsuit funding to mitigate the financial problems at least in part if not wholly. Often times, it can take several years before a settlement is reached and the payout can potentially be after several months.
What constitutes wrongful death?
There can be several causes to qualify as a wrongful death. To prosecute a wrongful death lawsuit, negligence or unjust action of other description by the defendant must be established. The victim’s survivors must also establish that they are entitled fiscal damages as a consequence of the recklessness, negligence, inaction, malpractice or improper conduct of the defendant.
*Wrongful deaths – common causes *
There can be numerous causes for wrongful death. Among these, medical malpractice tops the list with over 98,000 Americans losing their precious lives on account of medical errors that could have been prevented. Motor accidents account for another 50,000 deaths annually while more lives are lost on account of slip and fall incidents, animal attacks, work place accidents and defective products.
Wrongful death – Financial implications
Apart from mental agony, sudden and wrongful death brings along a volley of financial problems for the surviving family members. Wrongful death also causes significant emotional losses from the absence of companionship and love of the deceased. Unmindful of the heart wrenching event, the bills never stop coming and inability to pay up on the due date can potentially inflict another blow in terms of credit scores making it difficult for the family to find fresh credit to survive the crucial phase.
Wrongful death Settlement Funding
Wrongful death lawsuit loan has been specially designed by the financial industry to address the financial problems faced by the plaintiffs. The major advantage with this lawsuit funding is that lenders do not run a credit check or income verification and the borrower/plaintiff is free from the bother of monthly payments. In most situations these are ‘no recourse loans’ which means that your repayment is due only against the settlement of your lawsuit. The documentation for the lawsuit funding too is simple with your attorney’s assessment constituting the all important part. In most situations, subject to your attorney’s assessment of the suit, you can expect to receive several thousand dollars through wrongful death settlement funding considering that these are often high value suits.
Other benefits from wrongful death lawsuit cash advance
Most wrongful death lawsuits will be defended by a high power attorney or a battery of attorneys because the defendants are either rich corporates or wealthy individuals. The insurance carriers and assessors will be relentlessly working to offer the plaintiff, the least possible sum of money for a settlement advancing apparently convincing arguments. With a wrongful death settlement funding, the plaintiff can successfully ward off these advances and wait till the suit is decided by the courts and the settlement paid out. Remember that in the most unfortunate event of the defendant winning the suit, you are not obliged to repay the settlement funding to the legal funding company.
Pegasus Legal Funding can help in times of financial difficulties
In the unfortunate occurrence where a family member or loved meets their demise as result of negligence of others, you not only have to deal with grief for the loss, but face some serious financial challenges. These challenges can be exasperated and emotional stresses heightened when your lawsuit has the appearance of a David vs. Goliath. But Pegasus Legal Funding can help, we level the playing field for suck occurrences. We allow you breathing room so to pay bills and provide the ability to settle for a larger award. And most important, this is not a lawsuit loan. Lawsuit loans must be repaid regardless of the outcome of your case. In a lawsuit funding, also known as a non recourse legal cash advance, you owe repay when you are awarded your settlement.
About the author
James Sheridan is the Contracts Manager at Pegasus Legal Funding LLC and is responsible for the final stage of the funding approval process. James focus and priority is delivering to PLF’s clients the funds they need as quickly as possible