Posted on Wednesday, March 28th, 2018 at 1:05 pm
Pre-Settlement Funding for Slip and Fall Claims
Slip-and-fall accidents, which fall under premises negligence and liability, can occur anywhere. An accident can happen on a public sidewalk, a friend’s home, a place of business, or at work. These types of accidents could leave the victim with severe injuries.
Whether an accident took place outside on a sidewalk or inside a public building, you may be eligible for compensation if the slip and fall resulted from negligence, poor maintenance or dangerous conditions. Property owners, organizations, and businesses may be held liable for injuries that occurred on their premises.
If you suffer a slip and fall injury, it can be physically and emotionally devastating. Slip and fall accidents could lead to emotional and financial stress. Sometimes, slip and falls can result in the victim sustaining critical and/or permanent injuries from the accident.
What is a Slip and Fall Accident?
For the property owner to be considered liable or at fault, an unsafe condition must cause the fall. It is not enough to simply slip on someone else’s property.
Unsafe conditions could be one of the following:
- An accumulation of snow and ice
- Wet and slippery floors
- A badly damaged sidewalk
- Potholes or debris
The land or business owner must have also caused the unsafe condition, allowed the conditions to continue and neglected to post a warning about safety hazards on the property.
Property owners do not have to make their property perfectly safe. They are only required to make their property reasonably safe. If they fail to do that, they are negligent.
If you or a loved one has been seriously hurt in a slip and fall, you might not have the proper health insurance or financial resources to pay for your medical bills and expenses while you recover from your injuries. You may be unable to return to work – which can lead to huge medical bills and/or a devastating loss of income. You may be unable get a loan from a bank for monetary assistance. When this type of financial situation occurs, you will need to consider pre-settlement funding.
Pre-settlement funding was created for accident victims who need financial assistance after their slip and fall. If you are injured and you are not at fault, you are entitled to a fair settlement and compensation in a court of law.
Your slip and fall claim could take months before you see any type of compensation. If you are out of work, you most likely will not have a steady income. It will be difficult for you to keep up with your bills, such as mortgage/rent, utilities, student loans, or credit cards.
Pre-settlement funding can help you from going into more debt by providing an advance on the funds that you expect to receive in a settlement. Pre-settlement means that you are selling part of the future proceeds of your settlement to have the money right now. Pre-settlement funding can offer immediate relief from bills and expenses.
Slip-and-Fall Pre-Settlement Frequently Asked Questions
Any person who was involved in a slip and fall accident where the other party is deemed to be negligent may be eligible to pursue legal action. These accidents can happen on sidewalks, another person’s property, work, or other places of business, such as a shopping mall or restaurant.
Can I get pre-settlement funding if I don’t have a lawyer?
No. The companies providing the pre-settlement funding need to speak with an attorney about your case before purchasing a portion of your expected settlement.
What information does my attorney need from me?
Your attorney will need a completed pre-settlement funding application, a copy of the medical records or other documentation related to your slip and fall accident.
What if I need more money later?
In some cases, you may be able to get more than one advance on your settlement. If your initial pre-settlement advance was insufficient, you may be able to receive another advance if your case qualifies.
Other Advantages of Pre-Settlement Funding
Pre-settlement funding is not like a loan from the bank. The company will only receive money if the attorney wins a settlement. Also, pre-settlement funding companies do not perform credit checks, verify income or employment status, charge fees, or require monthly payments.
A pre-settlement company provides money for slip and fall victims based upon the assessment of a case. When you borrow money from a bank or credit union, you are required to repay the funds borrowed no matter what financial situation you are in. However, when you receive money from a funding company, they borrow against the settlement. If you lose the personal injury case and do not get a settlement, you are not obligated to pay the funds back. It’s only an advance on the future settlement proceeds that you expect to receive.
Are you currently in the middle of litigation for a slip-and-fall injury? Do you need some cash to help keep you afloat? Contact the pre-settlement funding experts at Case Capital Trust for the financial assistance you need. We are available at (877) 336-5123, so don’t hesitate to contact us for help.