Since you were injured, it has likely been a challenge to keep your head above water financially. If your injury is due to another party’s negligence and a personal injury lawsuit is pending, you could benefit from pre-settlement funding in Hawaii. If you qualify, you can get money quickly in advance of your settlement to pay bills or purchase something you need.
Although pre-settlement funding is sometimes called a “lawsuit loan,” that is an inaccurate description. Pre-settlement funding is not a loan. Instead, it is a disbursement of money in anticipation of an eventual settlement, similar to a cash advance. The amount is repaid when you receive your settlement or verdict award.
Lawsuits can take a long time to settle. Pre-settlement funding in Hawaii helps you get the cash you need now.
How Pre-Settlement Funding in Hawaii Works
To qualify for pre-settlement funding in Hawaii, you must have a current personal injury lawsuit pending and be represented by an attorney. Your lawyer must agree to provide the lender with information regarding the strength of your case.
Pre-settlement funding in Hawaii is non-recourse. That means you don’t have to pay the money back if you don’t receive a settlement or a favorable verdict. Unlike a loan, a pre-settlement funding lender assumes all of the risk. Further, there are no restrictions on what you can do with these funds.
Hawaii Pre-Settlement Funding Laws
There are few restrictions on pre-settlement funding in Hawaii. For example, if you already have a pre-settlement funding loan from another lender, you cannot receive additional funding until the original lien is paid off.
Personal Injury Pre-Settlement Funding in Hawaii
In Hawaii, the statute of limitations for filing a personal injury lawsuit is generally two years from the date of the accident. If you do not file by that deadline, your case cannot proceed.
Hawaii follows a modified comparative negligence standard. You can still receive compensation if you were less than 51 percent responsible for your injury. That compensation, or damages, is reduced by your percentage of fault as determined by a jury.
For instance, if you were injured in a motor vehicle accident and you were deemed to be 20 percent at fault, your compensation is reduced by that percentage. A $100,000 award is reduced to $80,000, or 20 percent less.
Personal Injury & Worker’s Compensation Pre-Settlement Funding in Hawaii
Pre-settlement funding in Hawaii is available for all types of personal injury cases, as well as workers’ compensation–if a third party is liable for your injuries. Common types of personal injury cases that may prove eligible for pre-settlement funding in Hawaii include:
- Car accidents
- Truck accidents
- Motorcycle accidents
- Pedestrian accidents
- Bicycling accidents
- Premises liability (slip and fall)
Generally, these accidents involve negligence on the part of the defendant, although in some cases, the defendant may have acted deliberately.
Contact Us
For more information about pre-settlement funding in Hawaii and whether you are eligible, contact Mustang Funding today. We serve Honolulu, Hilo, Pearl City, Kailua, and other areas of the Aloha State. Since 2018, we have provided more than $150 million in funds to plaintiffs and attorneys.
