It is often difficult to deal with the financial challenges accompanying a personal injury caused by another party’s negligence. Although you have a lawsuit in progress and a strong case, receiving a settlement can take a long time. That is where Idaho pre-settlement funding can help. This funding allows you to pay bills, such as your mortgage, or make purchases. If eligible, you could receive your funds within 24 hours.
While pre-settlement funding in Idaho is often called a lawsuit loan, that term is misleading. While pre-settlement funding is not a loan, it is similar to a cash advance. There is no credit check or employment verification, as is true of loans. Think of pre-settlement funding as a disbursement of money in anticipation of a future settlement. The funds are paid back out of your settlement or award monies.
How Pre-Settlement Funding in Idaho Works
Those eligible for pre-settlement funding in Idaho must have a pending personal injury case and representation by an attorney. Your lawyer must be willing to provide information to the lender regarding the strength of your case. After you complete the pre-settlement application, the lender reviews your medical reports and other critical documents and determines whether you qualify for pre-settlement funding.
Besides providing ready cash, pre-settlement funding in Idaho buys your attorney time to build the most robust case possible. Many plaintiffs agree to a lower settlement because they need money. Pre-settlement funding can help you avoid that trap. Further, there are no limitations on how you can use the money.
Idaho Pre-Settlement Funding Laws
There are no specific statutes regarding pre-settlement funding in Idaho. Further, it is non-recourse. The lender takes all of the risks. If you do not receive a settlement or the trial verdict does not go your way, you do not have to repay the money. Idaho does not permit workers’ compensation claims to qualify for pre-settlement funding.
Personal Injury Pre-Settlement Funding in Idaho
In Idaho, the statute of limitations for filing a personal injury lawsuit is generally two years from the date of the accident. Miss that deadline, and your personal injury case cannot go forward.
Idaho follows a modified comparative negligence standard when it comes to liability. An injured person who is more than 50 percent responsible for the accident cannot receive compensation. However, if they are 50 percent or less responsible, they may still receive compensation, but the amount will be reduced by the percentage of their fault.
For example, if you were severely injured in a car accident but a judge or jury determined you were 20 percent at fault, a $100,000 award is reduced by 20 percent to $80,000.
Contact Us for More Information
For more information about pre-settlement funding in Idaho and whether you are eligible, contact us at Mustang Funding today. We serve Boise, Idaho Falls, Twin Falls, Lewiston Eagle, and other areas of the state. Since 2018, we have provided more than $150 million in funds to plaintiffs and attorneys.
