Take Care of Expenses and Medical Needs
Depending on the type of lawsuit , it could take months or even years to settle . Cases that last a long time can be financially draining on any personal injury victim — especially if they ’ re drowning in medical debt and unable to work in order to properly recover . With lawsuit funding , your clients have access to fast funds to cover bills and living expenses until they are able recover the compensation they deserve from the person that caused the injuries in the first place .
In addition to standard expenses , having a cash advance gives the client the opportunity to pay for medical treatment and surgery costs . As you well know , accident victims often require extensive medical treatment . For some , diagnostic testing , surgical intervention , physical therapy , and rehabilitation are not included . It ’ s not uncommon for a single injured patient to rack up hundreds of thousands of dollars in medical debt .
If you have a client that is lacking sufficient medical insurance and are worried about medical bills , they may avoid getting the medical treatment they need to heal and get their life back in order . With pre-settlement funding , they can access the quality treatment they need — when they need it .
Take the Time You Need to Settle
It ’ s not uncommon for insurance companies or defending attorneys to try to offer a settlement early on in order to avoid heading to trial — especially with a case that could take years to finalize . They understand the financial strain your clients are under and will try to take advantage of that for their own benefit . Often times , the settlement offer will be much less than the client deserves , and it won ’ t cover all of the accident-related losses .
When you work with Preferred Capital Funding , you ’ ll have more time to consider settlement offers or proceed to trial if it comes to that . You won ’ t have to worry about having to settle quickly . While we know you don ’ t want to prolong your case , pre-settlement funding allows you to maximize your results while having peace of mind that the client has the funds they currently need for basic life expenses .
It is important to note that non-recourse funding is not available in every state . To learn if you reside in a state where that is an option , reach out to us and we will be able to describe the case funding situation for your geographical area . We ’ ll be able to inform you of your options and help you make the best decision for your client ’ s financial future .
Helpful Hints and Things to Look for in a Funding Company
As an attorney there are certain things you can do to protect yourself and your client . First , add a provision to your attorney client agreement that advises against the use of client funding but also say you would assist the client in the process if they decide to proceed with funding anyways . If your client decides to proceed with funding , always make sure they are working with a licensed lender / funder depending on the state where they reside . Many states have regulated funding and only licensed and bonded companies can provide funding in those states . You can advise your clients to compare rates and fees that companies charge . Lastly , look for companies that support at a high level to the trial lawyers association in your state . In the end , always let the client decide but provide them with the name of a company that does business the right way if they are trying to use some company they find on the internet or see on TV .
Contact Preferred Capital Funding
If your client has been injured because of someone else ’ s negligence and have decided to pursue a personal injury claim against them , your client may be facing financial troubles . If that ’ s the case , and the client has discussed their financial situation with you , a pre-settlement funding will both assist their financial troubles while also allowing you the adequate time to focus on the case . If you have a client in need , PCF is more than happy to explain the terms and conditions of the agreement before anything ’ s signed , so you and your client know what to expect once your case is finalized . To learn more about the funding process or to get started a funding started , give us a call today . Call PCF at 866-227-4123 or clients can apply online at www . PCFCash . com .
The Benefits of Non-Recourse Funding
Some lawsuit funding have the ability to be non-recourse . This means that your client only pays back your lending company in the event you win your case . Because we only take on cases with a high probability of winning , we ’ re assuming you will achieve a successful outcome . So , we absorb the risk for your client . In the event you lose your case , your client won ’ t owe us any of the money back .
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