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A slip and fall accident can give rise to a premises liability lawsuit. It holds a property owner liable for financial damages a person may incur after getting injured on their property. However, obtaining a settlement can take months or even years. Your lawyer says the case is strong, but medical and credit card bills are piling up, while mortgage, car insurance, and tuition payments are overdue. That is when slip and fall pre-settlement funding can help.
At Mustang Funding, our slip and fall lawsuit funding allows you to receive money when you need it most. While incorrectly referred to as a lawsuit loan, slip and fall pre-settlement funding is a disbursement of money in anticipation of a settlement down the road. There is no need for a credit check or income or employment verification. It is similar to a cash advance. The money is repaid when you receive your settlement or jury award. To learn more, contact us today.
How Does Slip and Fall Pre-settlement Funding Work?
To qualify for slip and fall pre-settlement funding, you must have a pending premises liability lawsuit and representation by an attorney. Your lawyer must agree to share details about the strength of your case with us. At that point, you can fill out an online application and provide information about your case.
We review your claim thoroughly, evaluating whether a substantial settlement or jury award is likely. The defendant must hold most of the liability. In slip and fall cases, defendants often argue that the accident victim was at least partly at fault. For example, they may argue that inappropriate footwear worn by the victim contributed to the slip and fall.
What Could Affect Compensation in a Premises Liability Lawsuit?
If the accident occurred in a modified comparative negligence jurisdiction like Florida or Colorado, the plaintiff could still receive a significant settlement if they were less than 50 percent responsible. For example, if a jury determines the plaintiff was 20 percent at fault, any award is reduced by that percentage.
However, in the few states with a contributory negligence standard, such as North Carolina, the accident victim cannot recover damages if they are even one percent at fault.
When Will the Funds be Disbursed?
If we determine you are a good candidate for pre-settlement funding, you will usually receive the funds within 24 hours.
What Qualifies as Premises Liability?
Property owners and managers have a duty of care or a legal obligation to keep their premises safe. If they fail to remedy or warn about known hazardous conditions within a reasonable amount of time, and someone is seriously injured, they may face a premises liability lawsuit.
Common locations for slip and fall accidents:
- Supermarkets
- Restaurants and bars
- Parking lots
- Retail stores
- Shopping malls
- Sports or recreation venues
- Offices
- Airports
Common causes of slip and fall accidents:
- Broken or missing floor tiles
- Broken stairs or missing stair rails
- Ice and snow
- Wet floors
- Debris in walkways
- Inadequate lighting
- Torn carpeting
- Trips hazards such as electric cords and computer cables
- Poor security
With non-recourse funds, you’ll have the freedom and financial stability to level the economic playing field between you and your legal adversary, cover unforeseen expenses, and reduce settlement friction in a premises liability case.
Is Your Credit Score a Factor in Pre-settlement Funding?
As noted, pre-settlement funding is not a loan. Your credit score does not typically play a role in determining whether you qualify because repayment comes out of your settlement, not your income or assets. We also do not require income or employment verification. What matters is the strength of your slip and fall claim.
Benefits of Slip and Fall Pre-settlement Funding
The biggest benefit of slip and fall pre-settlement funding is receiving the money and paying overdue bills. Even though your case is strong, insurers know that accident victims are unable to work, face financial instability, and are more likely to accept a low settlement amount. Pre-settlement funding provides you and your attorney with time so you can achieve an optimal settlement.
In addition, slip and fall pre-settlement funding is non-recourse. That means we take on all the risk. If you do not receive a settlement or a trial does not end in your favor, you do not have to pay it back. Moreover, there are 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. You can make the spending decisions that are best for you and your family.
Schedule a Free Consultation
Mustang Litigation Funding provides best-in-class capital solutions for law firms, plaintiffs, litigation vendors, and other legal assets. With personnel having 100+ years of combined investment experience and 50+ years in litigation finance, we’ve empowered 5,000+ civil litigants and 800 law firms.
To learn more about personal injury pre-settlement funding in a slip and fall case, schedule a free consultation with us today. Since 2018, we have provided more than $150 million in funds to plaintiffs and attorneys.
