How Does Pre-Settlement Funding Help Plaintiffs?

Posted on May 15, 2015 by Dan Christensen

In the case of unbalanced lawsuits between wealthy defendants and injured, cash-strapped plaintiffs, delaying a settlement can put economic pressure on the plaintiff. In the case of Scribner v AIU Insurance Company, the defendant forced a partially disabled plaintiff to wait five years for a resolution, and the judge awarded $450,000 in punitive damages to the plaintiff because of the defendant’s delays. Many can’t wait till the end of the trial for such reliefs. If the plaintiff is hurt and unable to earn a living, anxiety over dwindling funds can make an unfairly low settlement offer much more appealing. A pattern of plaintiffs being forced into lower settlement agreements sends defendants the message that injured victims, and the negligence that caused their injuries, are not priorities.

 

How Can Plaintiffs Obtain Pre-Settlement Funding?

Beacon Legal Funding levels the playing field by giving plaintiffs the cash they need now to realize a more just settlement later. When an injury victim doesn’t have the pressure of mounting bills and unmet needs, he or she can wait for a fair amount that truly compensates for damages. For example, a settlement advance of $20,000 allowed NYPD brutality victim Abner Louima to continue his lawsuit against the police department and the city of New York. Louima’s perseverance through almost four years of trial ultimately won him $8.7 million in the largest police brutality settlement in the history of New York City.

 

Settlement advances can enable plaintiffs to rest easier knowing that they have a risk-free source of money during this challenging time, since no repayment is due until and unless a settlement is reached.

Additionally, because Beacon Legal Funding understands that attorneys can also be impacted by cash shortages from prolonged litigation, we provide advances for attorneys as well. Prospective borrowers can call toll-free at (855) 679-3333 or fill out a short application for plaintiffs, or for attorneys. For other examples of how Beacon Legal Funding helps attorneys and plaintiffs, please read other entries in our blog.

Beacon Legal Funding – Providing Funding Solutions



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