Ensure A Proper Payout: How To Approximate Your Future Settlement When Applying For A Lawsuit Loan
Applying for a Lawsuit Loan is actually a very simple and pain-free process for any plaintiff looking to get a hold of some extra cash to get them through difficult times. However, it is smart to get an approximate idea of what your settlement might be before you apply.
Even though many different types of cases are accepted by the best lawsuit loan companies, such as Rapid Lawsuit Funding, it doesn’t mean that each loan is going to arrive at the same dollar amount.
As a plaintiff, you will want to know what your approximate expected settlement is going to be before applying for a lawsuit loan because the higher the expected settlement, the higher the loan you will receive. By looking at various factors such as the type of case you are involved in, the state in which the case is being tried, and the expertise and experience of your legal representation, you should be able to achieve a fairly accurate prediction of what your settlement amount will be once the case is closed.
Try To Find The Average Payout For Your Case
We understand that although lawsuit loans are quickly becoming one of the most useful financial tools for plaintiffs experiencing a degree of financial strain, they’re not suited for all situations. To ensure you’re getting the best service possible from both your lawyer and your loan provider, there are some quick and easy questions you can ask yourself to see if you happen to be involved in a case that qualifies for a lawsuit loan.
One of the easiest ways to decide if a lawsuit loan makes sense for you is to find out the average payout for a claim similar to yours.
Average Payouts For Personal Injury
If you happen to be involved in a case that has led you to file a personal injury claim, you can potentially receive a significant payout after the case has closed. The average payout of a personal injury lawsuit is based entirely on the nature of the injury itself, and you could probably expect to receive a dollar amount between $3000 and $75,000.
With expected payouts like that, we are certain you’ll have no problem getting a settlement loan with Rapid Lawsuit Funding.
Average Payouts For Vehicle Accidents
Vehicular accidents are one of the most common types of cases that qualify for pre-settlement funding (within the best lawsuit loan companies). However, since no two accidents are the same, it’s impossible to determine the average payout for vehicle accidents. There are many factors that go into consideration when determining the amount such as the severity of the accident, the location of the trial, etc.
Average Payouts For Workplace Injury
Workplace injury lawsuits tend to be one of the most common situations in which a plaintiff can receive a lawsuit loan. Not only because workplace injury lawsuits can take months or years to be resolved, but also because most plaintiffs who have suffered workplace injuries can no longer find employment. However, the good news is that most plaintiffs will see a significant payout coming after all of their waiting.
Again, determining the average payout in cases like this is not simple as each case is different. We may conclude that if an injury isn’t too serious and it is established that per injured worker will recuperate soon, a settlement of several thousand dollars can be expected.
However, in more serious cases, this number can be much higher.
Average Payouts For Medical Malpractice
If you happen to be a plaintiff involved in a medical malpractice lawsuit, it can be an emotionally devastating situation. Thankfully, cases such as these tend to have significantly larger payouts than other types of lawsuits due to the severity of the damage. If you are considering applying for a lawsuit loan to help manage your expenses, take comfort in knowing that in 2018, over $4 billion was paid to plaintiffs in medical malpractice lawsuits..
That means that the average medical malpractice lawsuit payment was about $348,065.
Claim Payouts Vary Depending on Region
Due to the large degree of variance between state laws, you may find your lawsuit providing you with a payout higher or lower than a similar case in a neighboring state. Before you get your pre-settlement loan, we suggest you look at the specific average payouts within your state to ensure your making the right choice.
Consult Your Lawyer For A Settlement Estimate
If you find yourself reading this blog because you’re involved in a lawsuit and are inquiring about your potential payout, chances are you already have one of the best resources to find that answer at your fingertips – your lawyer. Most lawyers have years of experience dealing with similar cases, and they are well aware of the types of payouts that are awarded for those lawsuits. If you’re at all curious about what your payout could be (in the interest of securing a lawsuit loan for yourself), don’t give a second thought to asking your lawyer.
Each Lawyer Is Different
One thing you should always keep in mind when applying for a pre-settlement loan is that every lawyer is different. For example, your lawyer may have never been able to secure at least the average payment to their previous clients in similar lawsuits.
We suggest that you research the aptitude of your legal representation regarding your specific case as well as the number of financial reparations they were able to secure for their clients in the past. Once you have confirmed that your legal team is capable and will do their best to represent you in court, you shouldn’t have any worries when applying for a lawsuit loan.
Get A Better Lawsuit Loan With A Higher Expected Settlement
Now that you know what is factored in the amount of money you get as a settlement in your lawsuit, you have a better understanding of the kind of lawsuit loan you can find to aid you through the process.
Not only will the type of case be a factor in your settlement payout (especially when comparing a personal injury case to a medical malpractice lawsuit), but so will the state in which your case is being tried, as well as the quality and experience of your legal representation.
Once you have figured out the approximate range of your expected settlement, feel free to make your way over to RapidLawsuitFunding.com – When you take a few minutes out of your day to fill out our quick and simple application form, you can expect your pre-settlement loan in as little as 24 hours! With Rapid Lawsuit Funding, you can take away the financial pressure of your legal battle.