Lawsuit Loans: Making the System Work For You
People get all kinds of insurance today. Insurance companies sell insurance against fire, theft, accidents, businesses and premise liability to name a few. The idea is that a person can rest easier knowing that if he/she suffers a loss they are covered for it. But there is no such thing as “Lawsuit Insurance,” or is there?
Lawsuit loans are presettlement investments into a plaintiff’s case that is not paid back by the plaintiff unless there is a successful settlement or jury verdict. Although sometimes referred to as lawsuit loans, actually at Lance Lawsuit Funding, it is a “non-recourse” loan. This means that the lawsuit finance company, like Lance Lawsuit Funding, will invest into a plaintiff’s case based solely on the case. There is no credit or employment history check, no monthly bills and no personal guarantee by the plaintiff. Lance Lawsuit Funding simply evaluates the case and advances settlement money to the plaintiff. If there is no settlement then the funding company takes the loss. In this sense, Lance Lawsuit Funding is a true risk taker and invests into the case with the understanding that if there is no settlement, then the investment, like any other investment is loss.
Lawsuit Insurance To Protect Your Family
When you take a lawsuit non-recourse loan from Lance Lawsuit Funding you are locking in your money now. Not all cases go as expected in court and leaving your financial future in the hands of the uncertainties of the juries is not what is best for you and your family. You may have been injured through the negligence of a defendant and have suffered a permanent disability for which you need compensation. However, as any experienced trial lawyer will tell you there is no guarantee that you win your case, or win the amount you expect from a settlement.
So when you lock in a piece of your anticipated future settlement by taking a non-recourse loan now you have guaranteed that you will have that money– especially since you do not repay the investment if there is no settlement. In this sense you have used the non-recourse loan or investment money as insurance that you will get money rather than risking everything. Lawsuit Loan is Settlement Insurance?
Lawsuit Settlement Insurance
Taking a non-recourse loan or pre-settlement advance from Lance Lawsuit Funding is like taking insurance against a loss in your case. You are effectively spreading the risk with the lawsuit funding company who agrees to provide you with part of your anticipated settlement or jury verdict now. It is money in your hands today based on the expectation of a successful jury verdict. But what if you lose your case and you get nothing? Then at least you have the lawsuit advance money from the funding company.
According to the recent study reported in the Journal of Patient Safety the numbers of hospital deaths related to medical error is much higher than previous thought — between 210,000 and 440,000 patients each year who go to the hospital for care suffer some type of preventable harm that contributes to their death. This makes medical errors the third-leading cause of death in America, behind heart disease, which is first, and cancer, which is second. In our recent blog on Medical Malpractice we predicted physician error to be on the raise in the United States.
Even though medical malpractice is on the raise, plaintiffs’ success rate in medical malpractice cases have declined. In fact, if you are a patient who filies a medical malpractice case in the United States, the odds are you will lose your case. Here is a table of plaintiff success rates in tort cases in the United States.
In Medical Malpractice Litigation in State Courts, National Center For State Courts, Vol. 18, No.1, April 2011, the project reported that there has actually been a reduction in filed medical malpractice cases in state courts. Medical Malpractice cases continue to drop as compared to other types of cases filed in state courts. The chart below is from the National Center For State Courts 2005,
Medical Malpractice and Other Personal Injury Trials in State Courts
It is easy to see that plaintiffs win far fewer medical malpractice cases than other types of personal injury cases in state courts. It is also evident that medical malpractice injuries are far more severe than other types of personal injuries. So what accounts for the huge disparity between the alarming rise in preventable medical and hospital errors and the drop in filed medical malpractice lawsuits? There are numerous reasons that range from tort reform to the difficulty in getting a medical expert in the same field as the defendant to testify in court.
As you can see, plaintiffs win in medical malpractice cases just 23% of the time, and other negligence cases about 59% of the time. This is why taking a lawsuit non-recourse loan or investment from a lawsuit loan funding company makes sense- it protects you from the realistic chance of losing your case.
Let Lance Buy The Risk
When Lance Lawsuit Funding invests into your case, we are purchasing the risk associated with your case. We are true risk takers and win only if you when. As the national court statistics show, and as your lawyer has probably explained, there is no guarantee of a successful outcome in your case. When Lance Lawsuit Funding invests into your case through a non-recourse loan we take on some of that risk and pay you money. You will taken some of that risk off your shoulders and placed it on ours.
For more information about getting a presettlement loan, (201) 425-0743 us or visit out website, www.lancelawsuitfunding.com