Injured Due to Negligence? Litigation Funding Helps Pay the Bills

Litigation Funding Helps Pay the Bills

If you have been injured due to negligence, and you already have a lawsuit filed and a lawyer representing you, you can opt for litigation funding, also known as a settlement loan, to finance your litigation or to pay your household bills. However, it is important that you approach a reputable company for litigation funding. For instance, Settlement Lenders is one of the most experienced and prominent settlement lending companies in Canada.

With 30 years of experience in the field, the company knows how to work effectively with the lawyers, the insurance companies, and the medical experts to get your loan approved quickly through the system, and get it in your account or in your hands as soon as possible. The company’s loan officers are very knowledgeable and courteous, and they will assist you with every step in the whole process. You can even apply for the loan via the company’s website, just visit Settlement Lenders

Injury due to negligence

Injury due to negligence falls under the subcategory of the Canadian Tort Law, Unintentional Tort. It occurs when the below concepts are not met.

  • Duty of care – When an individual could reasonably foresee that another person will be harmed because of his action
  • Standard of care – What a reasonable individual would have done in a circumstance similar to that
  • Causation – The person/defendant caused the injury in reality
  • Remoteness – The damage or the injury that a person could suffer be foreseen reasonably at the incident time

Litigation funding, settlement loans and cash advances

Litigation funding companies provide cash advances to litigants in exchange for a percentage share of the lawsuit settlement or the judgment. A plaintiff can apply for a settlement funding as long as he/she is represented by a lawyer. The lawyer will send the case records to the settlement lending company. The company will study the case, and if the plaintiff has a real chance of winning the case or if there is a high probability of the case being settled out of the court for a substantial amount of money, then they will approve the loan. The plaintiff has to repay the loan only after the case is closed by judgment or through settlement. The lawyer will then send the cheque with the principal amount plus the fees/interest rates to the lending company. The plaintiff will then get the rest of the settlement amount.

Benefits of litigation funding for the plaintiff

Even if you have a bad credit score or a bad credit history, you can still get a settlement loan. The only thing that matters with a settlement funding is the merit of your lawsuit. A settlement loan is very helpful in personal injury cases. You will be able to pay for your unexpected medical bills. Also, if you are unable to work as a result of your injury, you will be able to resort to the settlement loan to tide you over until the case is settled or until you find a source of income. The insurance companies will always try to drag the personal injury cases as long as possible in the hope that the plaintiffs will have to buckle under financial pressure and opt for lesser settlements. If you are financially stressed, then definitely you will have to take what the defendant will offer you, even if that amount is not fair. However, with a settlement loan, you will not have to do that. If the defendant does not offer you a fair deal, then you do not have to settle, and if a settlement does not happen, you can let the lawsuit go to trial.

You may use the litigation funding to avoid bankruptcy, foreclosure, eviction, to prevent any hit to your credit record, pay household bills, buy groceries or even to pay the tuition fees of your children.

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About Mohammad Mustafa Ahmedzai

Mohammad is the Founder and Editor of RIW blog. He is a Professional Blogger, SEO Consultant & Web Developer. He blogs here occasionally but blogs at MyBloggerTricks full time.
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