GM Pledges to Take ‘As Long as We Need’ to Settle with Victims

Stephanie Reid | May 12th, 2014

GM Recall Settlement Cash AdvanceAny plaintiff having endured the years-long wait to receive a personal injury settlement can likely commiserate with the dozens of families awaiting compensation from car maker General Motors. The company, despite having filed for bankruptcy protection in 2009, maintains several outstanding debts to families and victims of faulty ignition switches and has vowed to “do the right thing” by offering compensation even if a particular claim would be erased as a result of the bankruptcy filing.

An attorney for 53 such families recently met with GM’s ‘compensation expert’ to discuss the direction the company plans to take with regard to its current liability exposure. Despite a likely shield of liability for any claims occurring before 2009, GM has vowed to “[take] responsibility for its actions and will continue to do so….we will take as long as we need to get it right.”

Consider settlement funding with Law Street Capital 

While the seemingly benevolent approach taken by GM – choosing to uphold its responsibility to compensate victims despite a clear bankruptcy loophole alleviating the obligation – some victims have been forced to wait close to a decade to see financial relief. In the meantime, their medical bills mount, they can’t return to work and their quality of life has been downgraded almost as quickly as GM’s recent market performance.

However, for any plaintiff awaiting settlement following an injury involving a General Motors product, GM recall settlement funding is a viable and affordable option to help relieve the stress of mounting bills and provide families with a bit of financial peace amidst an otherwise turbulent experience. A GM settlement cash advance is unlike a loan in that the payee is not actually accruing a debt but is actually borrowing against his own forthcoming settlement amount. 

Qualifying for GM recall settlement funding 

If you are considering lawsuit funding to help bridge the gap between your injury and eventual payout, you may be curious as to the applicable eligibility criteria and whether your case qualifies you for a GM recall settlement cash advance. If you are a victim or surviving family member of a faulty GM vehicle, you must meet the following to qualify:

  • You have already hired legal representation and you have arranged for payment of the attorney on a contingency fee basis;
  • You have suffered a personal injury (or are filing a wrongful death action on behalf of a loved one);
  • The defendant, usually through its insurance company, can pay the award to you;
  • Your attorney agrees to the terms of your settlement cash advance.

With GM currently under investigation by the Justice Department, the National Highway Traffic Safety Administration and the Securities and Exchange Commission, the fallout from its faulty ignition switch liability could potentially extend several more years – making it even less likely that victims will see their final settlement any time in the near future.

Apply for a recall settlement cash advance

At Law Street Capital, we understand the sensitive nature of your post-injury financial situation. If your bills are mounting and you are unsure where to turn, settlement funding may be the best option for you and your family, particularly if you are unable to return to work. Why wait for the executives of General Motors to work out the particulars with their “compensation expert” when you can receive cash in hand right away?

To speak with a customer service representative today, call us at 1-866-FUND-662.