todd bower - Wednesday, May 04, 2011
A
jury awarded $20M to five families that lost loved ones in a 2006 plane crash near St. Louis, MO, along with $48M in punitive damages to an airplane parts manufacturer. Six people died in the crash right after takeoff when an engine failed due to a defective turbine blade that reportedly has caused 8 other engine failures.
The plaintiffs involved had to wait five years for the case to come to a conclusion after a court case. It is these lengthy time frames that make litigation financing a valuable resource for plaintiffs. Litigation financing companies like P & T Financial provide funds to plaintiffs up-front when they need it. The legal loans are not paid back until funds are received when the case is settled.
In many personal injury lawsuits, plaintiffs are in financial distress due to the loss of a loved one and wage earner or due to high medical bills following injuries. Litigation financing enables the plaintiff to pay bills and continue to work for a full and fair settlement to their case. Without such financial aid, plaintiffs often settle for early, sub-standard offers just to get some needed cash. With the staying power provided by legal loans, the final settlement amount can be 3-5 times higher than early settlement offers, which is a great benefit to plaintiffs and their attorneys.
P & T Financial is one of America's leading pre-settlement litigation financing companies. We partner with many attorneys and work with many plaintiffs to provide needed legal loans while personal injury lawsuits are pending. Please contact us at any time with any questions or to receive a quote.
