Medical Lawsuit Pre-Settlement And Pre-Payment Loans Are An Easy Solution
Medical lawsuits often happen during vulnerable times when you’re in a financial struggle and need money quickly. This makes medical lawsuit loans extremely helpful while you’re receiving medical care and still waiting for a settlement. It can take a long time until the payment comes through. With lawsuit loans, the money is in your account very quickly. This form of help is perfect for cases when the plaintiff is guaranteed to win the case and win a large settlement but the payment hasn’t arrived yet. The waiting period can be difficult to manage due to mounting bills, medical and others. A loan can help plaintiffs overcome this period and pay their bills as they wait for their settlement to arrive.
What Is A Medical Lawsuit Loan?
Medical lawsuit loans are loans done based on the expected settlement amount from a lawsuit stemming from a medical issue. These loans are based on the fact that many people who go to court with a medical case are facing huge legal bills as well as medical costs. There is the lawyer’s fee, medical care costs, and other types of bills that simply can’t wait until the trial is over and the plaintiff receives the settlement money.
Medical lawsuit loans are often risk-free which means the recipient won’t have to pay the money back since the lender will be paid from the settlement money. This implies that the lender is confident that the plaintiff will win the case.
Getting a medical lawsuit pre-settlement loan can can alleviate stress of not knowing when your next paycheck is coming and can be used to cover the lawyer fees, medical bills, and living costs. Depending on the case, these loans can be small or huge. If the case brought to court has enough precedence (meaning it has a high priority), obtaining a loan on such a case and its pending settlement should be a lot easier. The more information is available, the higher the chances of scoring a large loan.
What Type Of Medical Lawsuits Can Lead To A Large Settlement?
There are many types of medical lawsuits than can lead to large settlements and thus good-sized pre-settlement loans. These are fairly easy to recognize as follows:
When a doctor or any other health care professional makes a mistake due to negligence or lack of skills that lead to a serious health issue, a malpractice lawsuit can be brought on. Medical errors are more common than most people think, but they don’t always lead to life-threatening health issues. It can be something as small as applying the wrong brace color. However, more serious cases of medical malpractice could lead to major complications, loss of a limb or even death. These last few cases are typically the ones that can lead to very large settlements in court. For such cases, pre-settlement loans are easily granted.
If the professional in question has a history of errors on his record, the monetary value of the settlement can go up with each instance.
Malfunction Of A Medical Device
From blood glucose measuring technology to oxygen machines and everything in between, there are a lot of different medical devices that are meant to make lives easier, but occasionally, they can malfunction. Most of these devices are completely safe and will never encounter any issues, but when one of these devices fails to do what they were designed to do, it can lead to serious health issues or death. In such situations, the injured person or their grieving family may decide to bring a lawsuit to court. It is important to consult with a lawyer prior to deciding to help determine whether you should go to court and perhaps apply for a pre-settlement loan.
Prescription Medicine Side Effects And Problems
When it comes to lawsuits involving prescription medicine side-effects, they are very frequent and are even advertised to get more people to join various class-action lawsuits. These lawsuits are related to prescription medication that caused side-effects that were not properly explained or were unknown. The manufacturers of the drug failed to warn people of the potential risks or the company wasn’t aware of these risks.
Joining a class-action lawsuit can be a smart decision, but each person should carefully consider their options as they may be able to get a larger settlement if they file a lawsuit individually and not as part of a group. A pre-settlement loan can be granted in these situations but you should discuss things with your attorney to decide the best course of action. This type of lawsuits differ from those previously mentioned because the side-effects are usually not as serious and complex as those caused by medical malpractice and device malfunction.
Why Get A Medical Lawsuit Loan?
Just like any other lawsuit, medical lawsuits can also take time to settle. Because of the nature of these lawsuits, the plaintiff’s health may be jeopardized and they may require extensive medical care in the meantime. This incurs a lot of costs, costs that could be covered with a medical pre-settlement loan.
Other reasons to apply for a loan include the loss of wages as the plaintiff is most likely unable to work due to the health issue caused by medical malpractice or prescription drugs. Needless to say, these are various other unplanned expenditures and bills that may emerge including living expenses. Anyway, plaintiffs often find themselves lacking funds to cover all these expenses, and a lawsuit loan provides some financial relief.
Medical lawsuit loans are some of the most frequent lawsuits with highest-paying awards out there. That is why lawsuit loans are less risky for this type of cases. That further means that if you apply for a lawsuit loan, you are more likely to be approved for one.
Where To Apply For A Medical Lawsuit Loan
There are many companies that offer these types of loans and a great place to start is right here at Rapid Lawsuit Funding!