If you have a pending personal injury lawsuit in Nebraska, you are likely facing financial instability while awaiting the resolution of your case. Your injuries may prevent you from working. Medical bills, credit cards, and mortgage payments are overwhelming. Pre-settlement funding could be the solution.
At Mustang Funding, we are a litigation finance company focused on high-quality, transparent capital solutions for law firms and their clients. Pre-settlement funding is sometimes called a lawsuit loan, but that term is inaccurate. It is a disbursement of money in anticipation of a settlement. The money is repaid when you receive your settlement or jury award. To learn more, contact us today.
How Pre-Settlement Funding in Nebraska Works
Unlike traditional loans, pre-settlement funding does not impact your credit score. It is accessible to plaintiffs regardless of their credit history or financial standing. Instead, it is based on the merits of the case.
To qualify for a lawsuit funding, a plaintiff must have a current personal injury lawsuit with an attorney representing them. The lawyer must agree to discuss case specifics with us. If approved, you will receive the funds typically within 24 hours. In addition, it is a non-recourse loan, meaning you only repay if you win your case. There are also no restrictions on how you can use the funds. While most people utilize it to pay bills, you can also spend it on a car, tuition, or other items.
Pre-settlement funding helps you financially and also strengthens your case. It can relieve the pressure to accept a lower settlement offer from insurance companies. By providing you with the means to cover your basic expenses, you are better positioned to hold out for the amount you need to recover your losses and damages.
Nebraska Pre-Settlement Funding Laws
In Nebraska, specific laws regulate the activities of third-party litigation funders, which are outlined in Chapter 25 of the Nebraska Revised Statutes, including:
- Nebraska Revised Statute 25-3304: Prohibits offering commissions or referral fees to attorneys, law firm employees, or medical providers for referring plaintiffs and bars acceptance of compensation from legal or medical professionals.
- Nebraska Revised Statute 25-3305: Limits fees charged by civil litigation funding companies to three years from the initial agreement date, among other provisions.
- Nebraska Revised Statute 25-3306: No communication between the attorney and the civil litigation funding company shall limit, waive, or rescind the scope or nature of any statutory or common-law privilege, including the work-product doctrine and the attorney-client privilege.
Personal Injury and Other Pre-Settlement Funding in Nebraska
In Nebraska, the statute of limitations for initiating a personal injury lawsuit is generally four years from the accident date. Failing to file within this period may lead to the court dismissing your case.
Nebraska is a modified comparative negligence jurisdiction. According to this legal doctrine, the compensation awarded to the plaintiff is reduced in proportion to their degree of fault. For instance, suppose you are involved in a car accident, and it is determined that you were 20% responsible. If your total damages award is $100,000, your compensation would be reduced by 20%, leaving you with $80,000.
If the plaintiff is found to be 50% or more responsible for the accident, they are barred from recovering any compensation.
Contact Mustang Litigation Funding
Mustang Litigation Funding provides best-in-class capital solutions for law firms, plaintiffs, litigation vendors, and other legal assets. For more information about Nebraska pre-settlement funding and whether you qualify, contact us today. Our team members are always within reach and ready to talk whenever your funding needs arise.
We serve Omaha, Lincoln, Bellevue, Grand Island, Kearney, and other regions across the state. With over $150 million provided in funds, we offer reliable support to plaintiffs and attorneys statewide.
