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Injury Plaintiffs Not Aware That Money Is Available Before Their Case Even Goes To Trial
PRWEB
The cost of the appellate process can create a financial hardship for attorneys and their clients. Pre-settlement funding is an emerging trend that has benefits for both, but the problem lies in educating them that these programs even exist.
Fairfax, VA (PRWEB) February 1, 2005 -- Several funding sources are responding to the cash flow needs of injury plaintiffs with pending settlements. Typically, plaintiffs and their attorneys are challenged with situations that prolong the settlement of their case and they often lack the financial support needed to overcome this unfortunate aspect of the legal system. Pre-settlement funding gives plaintiffs the financial capacity to withstand some of these challenges and in some cases, simply pay their bills. The funding sources are typically private investment companies that allow plaintiffs to sell their pending lawsuit settlements for immediate cash.
Costly litigation can force personal injury plaintiffs to accept lower settlements or even drop their cases altogether because they are balancing the high cost of medical bills and lost wages with the funding needed to pursue the necessary courses of action against their defendants. Additionally, they can be faced against defendants that recognize the advantage that a long, drawn-out appeal process can provide. However, this selling option gives plaintiffs the means to address the financial hardships incurred as a result of their injury and removes the financial urgency to accept an unfair settlement offer.
In many cases, plaintiffs can receive cash advances anywhere from $1,000 to $1,000,000 based solely on the merits of their case. Fees can range from as little as 20% to as much as 50% of the amount advanced, depending on the assessed risk value of the case. Of course this option is not ideal for everyone, says Karen Akins, Funding Programs Manager for Streamline Funding, but, in certain cases it can be their only option and so, for those particular situations, it can prove a very beneficial alternative to getting a loan; or, having to borrow from family. The unique aspect about these funding programs is that if the case doesnt go to trial or the verdict is unsuccessful, then the investor takes the loss and the plaintiff is free of any obligation to repay. Unfortunately, however, the majority of attorneys and their injured clients arent even aware that these programs are available.
About Streamline Funding
Streamline Funding is an organization representing hundreds of investors that offer a variety of funding resources and cash flow solutions to individuals and small businesses. For more information, please visit www.streamline-funding.com.
Contact Information:
Karen Akins, CCFC
Funding Programs Manager
Streamline Funding
703-385-4164 phone
703-713-0869 fax
Media Contact:
Melanee Bryant
703-385-4164 phone
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