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.
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Lawsuit Funding Helps Plaintiffs Pursue The Full Value Of Their LawsuitThis blog provides helpful information and perspective for people with a personal injury, medical, or workplace lawsuit in progress that need cash today. You don't need to settle your case prematurely, for less than it's worth, just to get cash to cover expenses. 2006 Air Crash Results In $48M Award todd bower - Wednesday, May 04, 2011
Is a Lawsuit Loan Really A Loan? todd bower - Tuesday, January 25, 2011
When a plaintiff in a lawsuit receives pre-settlement funding to help cover medical and living expenses, it is often referred to as a lawsuit loan, or legal loan. However, this lawsuit funding is really not a loan. There are no regular payments made on the funding. There is no credit check performed or creditworthiness associated with receiving the pre-settlement funding.
This type of lawsuit funding is non-recourse. This means it is only paid back if, and when, the plaintiff's case is successfully settled. The plaintiff is really receiving a portion of the final settlement up-front, when the cash is needed. The lawsuit funding company works with the plaintiff's attorney to build a case profile. If the case qualifies for a "lawsuit loan" then the lawsuit funding company will provide the requested funds. When the case settles the lawsuit funding is paid back out of the proceeds of the settlement, including a fair return on the funding for the risk taken. The greatest benefit of lawsuit funding is that it gives the plaintiff and their attorney "staying power." It removes the short-term need for cash, which means there is no need to settle the case prematurely due to financial pressure. This very often results in a significantly larger final settlement for the plaintiff. P&T Financial is a leading lawsuit funding company with an easy application process and competitive rates. How Lawsuit Funding Can Help Injured Construction Workers todd bower - Tuesday, January 04, 2011
In the largest verdict in Marin County history, a construction worker injured in 2007 was awarded $11.7 million. The worker hit his head in unsafe work conditions and sustained injuries that will last a lifetime.
Lawsuit funding helps construction workers on cases like this due to the excessive medical bills the worker must pay to try to restore his health. In this case, spine surgery and extensive rehabilitation after near paralysis. The lawsuit loan provides the plaintiff cash up-front to help pay medical bills and replace lost income. The loan is actually a pre-settlement payment on the final award and is paid back only when the case is settled. A case like this, which required over three years to reach a settlement, puts substantial financial pressure on the plaintiff to settle the case in order to get needed cash. The lawsuit funding removes that financial pressure and enables the plaintiff to continue to pursue a full and fair settlement. P & T Financial provides pre-settlement litigation financing for construction injuries, along with many other types of personal injury cases. Lawsuit Funding Example In DUI Case Settlement todd bower - Wednesday, December 15, 2010
An intoxicated truck driver killed 4 people in 2005 and finally, 5 years later, the family of one victim has received a $15 million award on the case. This is a classic example of a case where lawsuit funding can make a big difference for the plaintiff. As the primary breadwinner for the family, the loss of the deceased's income put financial pressure on his spouse and family. This type of pressure in cases like these very often forces the plaintiff to settle the case early in order to get needed cash to pay living expenses. But pre-settlement lawsuit funding provides a portion of the settlement today, when it's needed, and allows the plaintiff and their attorney to continue to fight for a full and fair settlement. It is not unusual for final settlements to be 3-5 times larger than early settlement offers. For this family, they had to wait 5 years for their case to settle and a pre-settlement legal advance very often plays a vital role for the plaintiff in these types of cases. P & T Financial provides litigation financing forvictims in all types of accident cases, including DUI cases. Oakland Victim of Police Action Wins $1.2 Million Settlement todd bower - Tuesday, November 16, 2010
It took almost two years. but a seriously burned plaintiff in Oakland, CA finally won a $1.2 million settlement against the city. The victim was burned when Oakland police fired a flash-bang grenade into the home where she was sleeping.
In the two years since the event, the victim piled up more than $400,000 in medical bills. In these types of cases, the plaintiff is most often under extreme duress to settle their case quickly to get funds needed to pay these bills. Lawsuit funding, also known as pre-settlement financing, can make an important difference for plaintiffs on these types of cases. Lawsuit funding provides cash to plaintiffs today, when it's needed to pay bills, but is only paid back if and when the case is successfully settled. If the plaintiff does not win the case, the legal loan does not have to be repaid. Pre-settlement legal funding enables plaintiffs and their attorneys to pursue their case for a full and fair settlement instead of settling prematurely for a fraction of the case's true value. P & T Financial is one of California's leading lawsuit funding companies and provides a no-cost, no obligation case review and quote. Medical Malpractice Award of $3.9M For Paralyzed Woman Bob Asselstine - Monday, November 08, 2010
Pre-settlement legal loans are very often valuable for plaintiffs in medical malpractice cases. The injured plaintiff often incurs extremely high medical bills coupled with an inability to work. While well-funded defense lawyers can hold out indefinitely while the case works its way through the court system, the victim needs cash now in order to pay bills. Without the lawsuit funding, plaintiffs often settle the case early for a fraction of what the case is worth. Sex Harrassment Suit Shows Need For Pre-Settlement Funding todd bower - Tuesday, October 19, 2010
A recent sexual harrassment case settled in Los Angeles is a good case to demonstrate how pre-settlement lawsuit funding can level the playing field for plaintiffs.
The case, filed back in 2007, claimed that 21 female janitors for ABM Industries, Inc. were sexually harrassed or assaulted by 14 male supervisors as far back as 2001. One of the plaintiffs was fired after being harassed by her supervisor and reporting it. Plaintiffs in these types of cases are competing against deep-pocketed corporate lawyers who work to exploit the financial hardship experienced by the plaintiffs due to loss of work. Their goal is to force a significantly sub-standard settlement of the case early in the process because plaintiffs need the cash to pay living expenses. Pre-settlement litigation funding, also known as a legal advance, provides needed cash to plaintiffs today that enables them to continue to pursue a full and fair settlement of their case. This cash advance is only paid back out of the final settlement of the case--if the plaintiff fails to win the case, the money does not need to be repaid. In this case, it took over 3 years for the case to come to a settlemnet of $5.8 million. Lawsuit funding often plays an important role for plaintiffs in these type of extended sexual harassment lawsuits. Two Settle In Buffalo Air Crash Negligence Suit todd bower - Friday, October 01, 2010
Two of the families that lost loved ones in the Colgan Air crash outside of Buffalo, NY in February 2009 have settled their case out of court.
The remainder of the plaintiffs plan to go to court because the pre-settlement offers have been too low. The NTSB has found that pilot error was the cause of the crash. Final settlements in all of the cases will likely take years in order to get a full and fair settlement for the victims' families. In the meantime, the victims' families must continue to cover living costs even after the loss of the primary breadwinner. Pre-settlement legal advances for the plaintiffs can provide needed cash today to help them pursue the case to completion. With this type of litigation funding, which is "non-recourse" funding, the lawsuit funding is paid back only when the case is settled. If the plaintiff does not win the case, then the funding does not have to be repaid. Air crashes are very often quite complicated with many plaintiffs and many defendants. As a result the length of the settlement period can be quite long and can create hardship on the survivors. These are the precise circumstances for which lawsuit funding has been created, P & T settlement provides pre-settlement funding to plaintiffs forairplane crashes and negligence lawsuits. $11M Libel Judgment Against Gossip Website todd bower - Monday, September 20, 2010
In a story reported by cincinnati.com, anybody in the public eye, or anybody who has been falsely accused online, will welcome the recent $11M judgment against www.TheDirty.com.
A Kentucky teacher who sidelines as a Cincinnati Bengals cheerleader was awarded $1M in compensatory damages plus $10M in punitive damages by a U.S. District Court Judge. The website posted pictures of the plaintiff along with allegations she had sex with Bengal football players and had two venereal diseases. The plaintiff only filed suit after the site refused repeated requests to take down the information from the website. The defendant failed to respond to the lawsuit. Libel and defamation cases are one of the many types of cases for which lawsuit funding can be helpful. Pre-settlement litigation funding for plaintiffs provides cash today, when it is needed to pay living expenses. The funding is only paid back out of the final settlement of the case. If the plaintiff does not win the case, the legal advance does not have to be repaid. Lawsuit Funding For Medical Malpractice Case Example todd bower - Tuesday, September 14, 2010
It was December of 2006 when a woman was taken to the hospital with a sudden headache and numbness on her right side. She died days later.
It's taken nearly four years for the victim's husband to finally earn a settlement on his medical malpractice lawsuit, earning a $5.3 million settlement against the radiologist, lead doctor and hospital. This case demonstrates the value that litigation financing can provide the plaintiff. During the 4 years it took to get a settlement, lawsuit funding can provide the cash needed to continue to pursue a full and fair settlement. Insurance companies have well-funded staffs of attorneys and they routinely force plaintiffs to settle cases prematurely for a fraction of their value because the plaintiff needs the cash. This legal loan advance levels the playing field for the plaintiff. Recent Posts
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