Product Liability Lawsuits, Lawsuit Loans, And Information
Product liability lawsuits can pay high settlements, but they can also take a long time in court, so getting a lawsuit loan can be really helpful. Product liability can be a big deal for companies so they usually take this very seriously to avoid major lawsuits. Of course, some companies do not care as much and their products lead them to large lawsuits that have big settlements attached. If a product fails and causes damage, suing the manufacturers can be a good way to recoup losses. Since this kind of lawsuits can result in big settlements, getting a lawsuit loan against the potential settlement is usually possible.
What Is Product Liability?
What is product liability and how does it work? Who does it apply to? Who is responsible for it? There are a lot of questions when product liability is on the line.
Product liability is a set of rules and conditions that indicate who is responsible for a product’s proper function or malfunction. This is something that protects the consumers as they buy and use products. It protects them from possible defects, problems, and other issues that can cause harm or damage to the buyer or users.
What Are Some Examples Of Product Liability Lawsuits That Have Been Won?
When it comes to product liability lawsuits, many cases are brought forth and plenty of these see settlements from the companies held responsible for them. Examples of these are:
- Tobacco products health effects liability cases
- Automobile parts defect liability cases
- Silicon breast implant health liability cases
- Asbestos health issues liability cases
- Medical product liability cases
- Equipment liability cases
Why Choose Rapid Lawsuit Funding?
Relatively Low Risk
If you don’t win a successful judgment in court, you don’t need to pay us back – it’s as simple as that. No initial fees, recurring costs, or invasive credit checks. At Rapid Lawsuit Funding, you only pay us back if you win.
Simple & Quick Response
You can get the financing you need in as little as 24 to 48 hours if your case is approved. After you fill out our simple application form and hit “submit”, our team and your lawyer do the rest of the work to see if your lawsuit qualifies!
Competitive Interest Rates
Rapid Lawsuit Funding is one of the best lawsuit loan companies in the country providing low-interest rates, no initial costs, hidden fees within the fine print. If we approve your loan, you can have your lawsuit loan in less than a day.
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What Rapid Lawsuit Funding Customers Are Saying
Trust the company that has brought over $20 million dollars in financing to thousands of injury plaintiffs all across America!
How You Can Receive Your Lawsuit Loan
- You Complete An Application
- Fill out our online application or call our toll-free number to speak with a client care technician.
- We Evaluate Your Application
- Rapid Lawsuit Funding and your personal Legal Team assess your lawsuit.
- You Receive Funding!
- If your lawsuit qualifies for funding, we’ll transfer you your money in as soon as 24 hours! Get anywhere between $500 to $100,000 in lawsuit financing within 24 hours
Who Is Held Responsible For Product Liability
When it comes to responsibility in regards to product liability, it usually comes down to the company in charge of the product, the one selling it in the first place. This can come down on the manufacturer, the distributor, and/or anyone else that the court sees fit to hold responsible. This means that any product made available to the public is the responsibility of someone and when it malfunctions or causes damages, this person or company can be held responsible and ordered to pay for costs and damages to the victim(s).
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What Does A Product Liability Lawsuit Do?
A product liability lawsuit helps get things clearer as to who is responsible for the faulty product and how. Of course, that is not all. This type of lawsuit is usually done to get medical bills, other costs, and punitive damages corrected. Part of all this is the following:
Helps Set Responsibility For Faulty Product
When it comes to a product causing harm, it needs to be established who is responsible for that harm, who is at fault. The first part of a product liability lawsuit is to prove that the faulty product is the fault of the manufacturer or distributor or the person who created it. This is something that can take quite some time to study the case and gather evidence on both sides of the lawsuit. After that, each side must check the findings of the other side. When things are entered in evidence, they can be used to prove whether the person or entity being sued is at fault or not.
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Helps Set A Precedent
A very good reason for a product liability lawsuit is to set a precedent. This marks the responsibility of the guilty party into court records and makes it something a future lawsuit can reach back to as proof of what they are claiming. A first lawsuit against a certain product may take a lot longer than the following one as for the latter, a history of the issue will have been set in court records and can be pulled when needed. This can also establish a pattern of issues with a company and their products which can be used for future lawsuits and settlements in or out of court.
Helps The Victims/Plaintiffs Get Their Costs Recovered
The ultimate reason for a product liability lawsuit is usually for the victim or plaintiff to get their costs paid for in a manner that may include punitive damages. If it is found that the entity responsible for the faulty product knew about the issue and released the product anyways, the plaintiff may receive a large sum in punitive damages. This means that they can get more than just their costs and medical bills (if applicable), they can also get a settlement that covers more than that. This is the kind of thing some people count on when a product turns out to be faulty, but it should not be expected. Paying for medical bills and other bills related to the product going bad is usually all that one should expect.
A lawsuit loan should be something taken early one to help pay for the proceedings and cover bills while waiting for the settlement.
You can apply for a settlement loan with us.
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How Long Does It Take And How Much Can Be Expected?
Length of trial and settlement amount vary depending on the case and the product.
How Long Does A Product Liability Lawsuit Take?
A product liability lawsuit can take from a few months to a few years depending on the product, the liability, the extent of the damage, whether it’s a clear-cut case, and a lot of other factors.
The number of victims can help speed things up. This means that a case that has precedent may take a lot less time than one where everything has to be investigated. In the case with a precedent, it can go almost directly to settlement, especially if the defendant is looking to keep things a bit more quiet and without too much fanfare. They may be ready to settle fast to make it all go away from the public eye and avoid scandal. Sometimes, getting a case moved to litigation or move through the system fast is better for their public relations.
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How Much Can One Expect In A Product Liability Lawsuit Settlement?
Product liability lawsuit settlements can vary a lot depending on the product and the type of damage that it caused. In general, the amount paid in liability lawsuits can be high and it has been getting higher on average each year. The amount paid out can easily reach $100,000 and in some cases over $1,000,000. The factors that come into play here are the precedent as mentioned above, the amount of damage, the medical bills, the pain and suffering, and the punitive damages. When an entity is found guilty in this kind of case, the punitive damages can constitute the largest part of the settlement to help pay for problems caused by the product and to prevent it from happening again.
With a long court case and a large settlement looming, a lawsuit loan or a pre-settlement loan can be obtained based on expected sum to be awarded. This means that a loan can be taken against the expected settlement. A good way to see money early and when it’s needed is to apply for a loan with a company that is reputable and trustworthy.
Rapid Lawsuit Funding can help fund your product liability lawsuit.
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Can A Class-Action Lawsuit Be Brought For Product Liability?
Product liability lawsuits are more and more open to class-action lawsuit as there are more products being produced and distributed on a very large scale. If one of these products is faulty, chances are that many of them will be as well. The challenge here is to find the other victims of the product issue and get them all on board for a class-action lawsuit.
Once many plaintiffs join up for this, the settlement can get substantially larger because once it’s proven that the product was faulty, proving the fact that it’s a general issue is much easier when plenty of plaintiffs come together. This larger settlement is something that will need to be split between all the plaintiffs, but in general, they can each take home much more money than with a single plaintiff lawsuit.
This kind of settlement can take a lot of time and sometimes one has to borrow money to be able to take the class-action lawsuit to completion. This is something that each plaintiff can decide for themselves and do with a lawyer on their own. Not all members of the class-action lawsuit need to request a loan, but all of them are entitled to do so.
Apply here for your ideal lawsuit loan.
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Product Liability Lawsuit Have Large Settlements In General
Getting a large settlement is almost guaranteed in the case of a product liability lawsuit once the product has been proven to be faulty. The entity or company found to be responsible can usually manage to pay for the settlement and if they cannot, a payment plan can be put in place. A very large settlement may come in multiple payments. However, one can borrow the total amount (the complete settlement amount) at once. Getting this kind of a loan is not difficult and is open to all who need it and are involved in such a lawsuit.
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Lawsuit Loan Against Product Liability Settlement Can Be Large
As the settlements can be quite large, getting a large loan can be done easily. The percentage stays about the same, but the higher the expected settlement amount, the higher the loan that can be obtained.
If you need a loan, reach out to Rapid Lawsuit Funding.We are always ready to help, give us a call (800) 581-7202