A woman recently suffered injuries in a parking lot when a car hit her minivan. The crash inflicted hip and back injuries. These types of injuries can be life changing and the woman may never fully recover.
At the time of the accident the woman drove inside a Home Depot parking lot with her mother. They had lunch at Applebee’s and were on their way to Walgreens to obtain a prescription. The woman drove westbound in the parking lot, which was perpendicular to cars parked in rows. The driver of the other car drove south along one of the lanes holding parked cars.
Suddenly, and with no prior warning, her minivan was hit on one side by this other vehicle, which was being driven from a lane containing parked cars on her right. The accident happened so quickly she was unable to brace herself before impact. She struck her head on the steering wheel and the side door.
Police were quickly at the scene and witnesses’ statements were recorded. The police accident report identified the cause of the crash to be the high speed of the other driver and failure to yield to the minivan.
The injured female driver was taken to the St Catherine of Siena Medical Center Emergency Room straight after the collision. The immediate diagnosis was concussion and whiplash. She was diagnosed later with hip bursitis and cervical and lumbar radiculitis. The result was eight months of treatment administered by neurologists, orthopedists and physical therapists.
She was quick to realize the severity of her injuries and hired an experienced and successful auto accident lawyer to file a personal injury lawsuit on her behalf.
It is necessary for the appointed personal injury attorney to assess medical records so that a satisfactory amount can be claimed both for short and long term costs. Some of the early medical costs may be paid by the victim’s insurer. The longer term costs are normally paid by the insurer of the driver that caused the accident.
Other damages of a personal injury lawsuit include loss of earnings. The amount will depend on how long the victim has to take off work to recover.
Lawsuit Funding Bridges the Financial Gap
While all the negotiating is going on, the victim may be eligible for lawsuit funding. Lawsuit Settlement Funding is provided by companies who provide immediate cash now in exchange for a portion of the future settlement of the case. Any lawsuit can be considered for lawsuit funding, also known as settlement loans.
A great thing about this type of settlement funding is that the client’s credit score is irrelevant. This is true because lawsuit funding transactions are not loans but a purchase of future proceeds. As such they are normally structured as a transfer of property rights, not as a loan in which repayment is implied at some point in the future.
This arrangement is similar to personal injury attorneys who work on a contingency fee basis. The victim pays no upfront legal fees because the attorney gets paid if, and only if, the lawsuit reaches settlement or other successful resolution.
Likewise, lawsuit funding companies are only repaid when the case is successful. As such, lawsuit funding transactions are a no risk financial solution for litigants in a cash crunch.
Best of all, there are absolutely no restrictions on the use of the advance. The money can be used however the client sees fit.