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| Personal Injury Settlements |
| A personal injury settlement is an agreement reached between two parties in a civil law suit. In a settlement, one party attempts to keep the case from going to trial by offering an amount of money or a set of terms that they hope the other party will agree to, thus ?settling? the case and eliminating the need for a juried trail. Most often it is the defendant that will ask for the settlement, in hopes that they can offer an attractive settlement package that will keep them from having to pay out even more as the result of a trial. |
| The amount of personal injury settlement depends on many factors, and there is no fixed value for any compensation package. The amount settled on depends on factors like age of the claimant, severity of injury, net financial loss, medical expenses incurred, medical prognosis, extent of liability, etc. There is no minimum or maximum compensation amount limit set by law, since amounts vary greatly from case to case. The following examples give you an idea of the compensation due in cases of personal injury. |
| A Wipersonalinjurylawyers company, for example, paid a compensation of $2,000,000, when held liable for the death of a young man caused by unsafe construction. A retail store paid out $1,000,000, when a claimant suffered serious neck injuries when a display fell on her. A nursing home paid $1,000,000 for medical negligence when an Alzheimer’s patient was injured due to the absence of a nurse on duty. Injury due to an automobile accident aggravated a victim’s previous neck injury, and the he was paid $5,000,000 in compensation. The highest compensation values are given to those plaintiffs who are young and healthy. This is because the jury takes into consideration the financial loss and mental anguish caused to those victims who would, in all probability, have been highly productive had they not been injured or handicapped. |
How Pre-Settlement Lawsuit Funding Works
| An injured person contacts a company that offers pre-settlement lawsuit funding, sometimes at the suggestion of an attorney. The finance company contacts the lawyer who is handling the case, and obtains information about the case. Based upon that information provided, the loan company estimates the value of the likely eventual settlement or verdict, and offers a cash advance to the injured person based upon that estimate. The fee may be a flat fee, or a monthly fee that accrues each month the loan is outstanding. When the case settles, or the defendant pays after losing in court, the loan and associated fees are paid to the finance company. |
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