When you’re hurt because of the recklessness of another person, whether they cause a car accident or create a dangerous situation where you slip or fall, the law is supposed to help. Unfortunately, that isn’t always what happens. In many cases, if the defendant has more money than you (like if you’re trying to bring a lawsuit against a business), they can afford to wait it out until you run out of capital.
Then, they can walk away without losing a lawsuit while you’re stuck paying legal and medical bills for the rest of your life. After an accident that requires you to seek medical care, the last thing you should be forced to experience is a miscarriage of justice. That’s why you should read on to learn the ways litigation funding providers can help with medical assistance.
What Is Litigation Funding?
The best way to describe litigation funding is a cash advance for a plaintiff’s lawsuit. Most of the time, a plaintiff comes to a litigation funder before or during their trial for financial assistance, but you can also receive post-settlement lawsuit funding if you’re waiting for your settlement money.
It’s a win-win situation for the plaintiff—they get the money they need up-front, and the funders get paid back out of the settlement money. Litigation always comes with a financial burden, but litigation funders are waiting to take the weight off your shoulders.
All you need to do is apply to receive your advance. You’ll need to provide a little information about your case and the money you need, but if you’re approved, you can have your cash in 24 hours.
Large defendant companies have teams of lawyers and buckets of money to throw at a lawsuit to ensure the average American can’t stand up to them. Lawsuit funding is your best bet at securing the justice you deserve. Instead of receiving peanuts for your pain and suffering, consider litigation funding and face off against large corporations on a level playing field.
Misconceptions About Litigation Funding
Litigation funding has grown exponentially in the last two decades, but there are still many misconceptions floating around that make plaintiffs wary of seeking help. In truth, these misunderstandings are preventing people from taking their cases into their own hands and are allowing guilty parties to get away without paying a dime to their victims.
Obligation To Repay
The first misconception is understandable yet completely false. Most people view litigation funding like any other loan, but that couldn’t be further from the truth. When you take out a loan, most of the time you have an absolute obligation to repay it. If you borrow money and gamble it away, you still need to pay back the money—even if you don’t have it.
This is not true for litigation funding. When your funder gives you money for your case, they expect you to repay them out of your settlement money. Should your case fail to secure a settlement, you are not obligated to repay your funder. Repayment is entirely contingent upon the outcome of your case.
In other words, the only situation in which you need to repay the funding is the one where you win. That means you don’t need to worry about going into debt to pay back the funder—you can simply take their cut out of your settlement money.
Some plaintiffs are wary of accepting litigation funding because they think a massive corporate entity will step into their case and take over. That’s not true—you and your lawyer are still in charge of your lawsuit. Most, if not all, litigation funders are no more than passive partners in your legal case for both practical and ethical reasons.
Your funder will likely remain in contact with your attorney to stay apprised of updates to the lawsuit, but litigation strategy still falls on your attorney. The ABA House of Delegates’ Resolution 111A specifically states that you retain control of your lawsuit regardless of litigation funding.
Newly Discoverable Court Documents
Lawyers may also get nervous when they consider lawsuit funding, because they think it may introduce new documents to the court. In most cases, however, litigation funding documents are not discoverable. That means any documents created during your funding application process can’t be used against you in court.
Waived Attorney-Client Privilege
Litigation funders do need to review some elements of your case to determine whether or not they want to provide you with your capital. However, that does not mean that they need to look over privileged information. That being said, if you, the plaintiff, gives informed consent, your attorney can share confidential information with your funder if you believe it will help you secure funding.
What Can You Pay for With Litigation Funding?
Some people think that there are strict limitations on what you can do with your litigation funding money once you have it. This isn’t the case.
When you’re involved in a car accident, there are often scores of medical bills that add up quickly. Litigation funding is a great way to pay off these bills before they start to stack up. Remember, you don’t need to worry about repaying your funder unless your case wins—get the help you need as soon as possible.
Injuries associated with car accidents can cause fatal consequences if left untreated. Choose the right medical options for you and pay with litigation funding.
Court Costs and Attorney’s Fees
The best settlement agreement comes at a cost—court costs and attorney’s fees. Your litigation funding can also be used to pay for these essential services.
There’s no reason not to use litigation funding to pay for basic living expenses, either. No one will stop you from paying your rent or buying groceries with plaintiff litigation funding—the money is yours to do with as you please.
Get Money Fast
You can get your money in as little as 24 hours. We understand that your time is precious, so we won’t waste it. We’ll review your case as quickly as possible so you can get your life back on track.
Now that you know the ways litigation funding providers can help with medical assistance, reach out to Apogee Capital Partners and apply for litigation funding today.