Injury Plaintiffs Not Aware That Money Is Available Before Their Case Even Goes To Trial
The cost of the appellate process can create a financial hardship for attorneys and their clients. Pre-settlement funding is an emerging trend that has benefits for both, but the problem lies in educating them that these programs even exist.
Fairfax, VA (PRWEB) February 1, 2005 -- Several funding sources are
responding to the cash flow needs of injury plaintiffs with pending settlements.
Typically, plaintiffs and their attorneys are challenged with situations that
prolong the settlement of their case and they often lack the financial support
needed to overcome this unfortunate aspect of the legal system. Pre-settlement
funding gives plaintiffs the financial capacity to withstand some of these
challenges and in some cases, simply pay their bills. The funding sources are
typically private investment companies that allow plaintiffs to sell their
pending lawsuit settlements for immediate cash.
Costly litigation can
force personal injury plaintiffs to accept lower settlements or even drop their
cases altogether because they are balancing the high cost of medical bills and
lost wages with the funding needed to pursue the necessary courses of action
against their defendants. Additionally, they can be faced against defendants
that recognize the advantage that a long, drawn-out appeal process can provide.
However, this selling option gives plaintiffs the means to address the financial
hardships incurred as a result of their injury and removes the financial urgency
to accept an unfair settlement offer.
In many cases, plaintiffs can
receive cash advances anywhere from $1,000 to $1,000,000 based solely on the
merits of their case. Fees can range from as little as 20% to as much as 50% of
the amount advanced, depending on the assessed “risk value” of the case. “Of
course this option is not ideal for everyone”, says Karen Akins, Funding
Programs Manager for Streamline Funding, “but, in certain cases it can be their
only option — and so, for those particular situations, it can prove a very
beneficial alternative to getting a loan; or, having to borrow from family”. The
unique aspect about these funding programs is that if the case doesn’t go to
trial or the verdict is unsuccessful, then the investor takes the loss and the
plaintiff is free of any obligation to repay. Unfortunately, however, the
majority of attorneys and their injured clients aren’t even aware that these
programs are available.
About Streamline Funding
Streamline Funding
is an organization representing hundreds of investors that offer a variety of
funding resources and cash flow solutions to individuals and small businesses.
For more information, please visit www.streamline-funding.com.
Contact
Information:
Karen Akins, CCFC
Funding Programs Manager
Streamline
Funding
703-385-4164 phone
703-713-0869 fax
Media
Contact:
Melanee Bryant
703-385-4164 phone
# # #
Source : http://www.prweb.com/releases/2005/2/prweb202299.htm