Funding can help eliminate some of the stress associated with the financial aspects of a lawsuit. If you have been the victim of an accident, workplace injury, medical malpractice or assault and battery, you may be able to seek compensation for your trouble. Lawsuits, however, can be very costly, and these expenses can sometimes prevent victims from seeking the legal help that they need to get the money that they deserve.
Attorneys may charge fees for looking up and reviewing records, time spent obtaining depositions, costs associated with investigating your case and even time spent talking to you, whether in person or by telephone.
If you have not budgeted for such expenses, or if you do not possess a large income, finding the money to pay for these costs up front can be challenging. Worse, it can often be hard to deal with living expenses and legal fees at the same time.
It can be especially difficult for victims of medical malpractice and workplace accidents to make ends meet because they often have to pay medical expenses on top of bills and legal fees. For instance, a recent John Hopkins publication showed that a patient who loses a limb due to medical malpractice, for instance, might face upward of $80,000 for reconstruction and upward of $90,000 for an amputation. Facing legal fees on top of such hefty medical bills is impossible for many.
Furthermore, some victims find that even after financing their own lawsuits, they end up losing in court. Often, this means that they pay a substantial amount of money and receive very little in return.
Lawsuit funding can help alleviate some of the worry and strain that accompany legal proceedings. It provides victims with a cash advance, so that they can continue to pay for their living expenses, while still pursuing their right to justice. One of the biggest advantages of this funding is that if a plaintiff loses the case, he or she owes nothing and is able to keep the money that was advanced, meaning that the person won’t lose everything and then have to pay off a new loan in addition.
Lawsuit funding makes it possible for people to be properly compensated for the wrongs that were done to them. With money to help them afford their normal expenses, as well as any legal fees, plaintiffs can avoid crippling debt and allow their legal proceedings to run their natural course.