A serious personal injury wreaks havoc with your life. Besides the need for ongoing medical treatment and recuperation, accident victims are often devastated financially. If your injury resulted from another party’s negligence or recklessness and you have an ongoing personal injury lawsuit, pre-settlement funding in California can help you weather this difficult time and pay your bills.
Even in the best of circumstances, it can take months for a plaintiff to receive money from a settlement. It is not unusual for a settlement to take years, and the same holds true if your case is heard in court.
Although pre-settlement funding is sometimes referred to as a lawsuit loan, that is a misnomer. It is not a loan, but a cash advance against your settlement or verdict. The money is repaid by your lawyer when you receive your settlement or verdict.
How Pre-Settlement Funding Works in California
To qualify for pre-settlement funding in Los Angeles, San Diego, San Francisco, or elsewhere in California, your attorney must agree to work with us. We discuss your lawsuit with your lawyer and make a funding decision based on the strength of your case.
In California and other states where pre-settlement funding is legal, you can receive money before your case settles. The money is non-recourse, which means you don’t have to repay it if you lose. Instead, the company that provided you with the funds assumes the risk. As a result, there is no risk to you as the plaintiff.
Keep in mind that the statute of limitations for filing a personal injury lawsuit in California is generally two years from the accident date. Failure to file a lawsuit by that deadline means your case cannot go forward.
When it comes to personal injury cases, California operates under the pure comparative negligence standard. That means the amount of compensation you may receive in a personal injury lawsuit is affected by the percentage of fault a judge or jury attributes to you.
For instance, if you are found to be 20 percent at fault for the accident, your damages are reduced by 20 percent. These factors influence pre-settlement funding decisions.
California Pre-Settlement Funding Laws
In California, you must have an attorney representing you to qualify for litigation funding. That lawyer must be working on a contingency fee basis.
Other state laws regarding pre-settlement funding include:
- The accident must have occurred in California.
- Your insurance must be current.
- Your injuries must prove significant.
In the case of a motor vehicle accident, your auto insurance must have been up to date at the time of the collision. A lack of insurance may disqualify you from receiving compensation. That is true even if you were not at fault.
Personal Injury Pre-Settlement Funding in California
Although the majority of personal injury pre-settlement funding in California deals with motor vehicle accidents, you may also qualify for pre-settlement funding for other types of serious personal injury. These include:
- Premises liability (slip and fall)
- Medical malpractice
- Dog bites
Learn More About Pre-Settlement Funding in California
If you would like to know more about how pre-settlement financing can help you in San Jose, Fresno, Sacramento, or elsewhere in California, contact Mustang Funding today. Our application is simple and straightforward. In most cases, you can receive your funding within 24 hours.
