Advantages of Medical Malpractice Lawsuit Funding

Katarina Siegfeld | November 24th, 2014

Lawsuit Funding OnlineA recent study has both good and bad news for those who have filed lawsuits concerning malpractice-related injuries.  The study has shown that “caps” on non-economic damages designed to reign in “frivolous” lawsuits have the effect of reducing such damages compared to having no such caps at all.  However, the same study also demonstrated that when the caps are increased to $500K or more, this effect is no longer operative.

Although there has been considerable debate recently about “frivolous” lawsuits, the majority of medical malpractice payments administered in the past year involved serious cases related to death or severe injury.  Even less dramatic cases, involving, for instance, injuries other than brain damage or paralysis, can still result in considerable expense and suffering for the victim and his or her family.

In these instances, the prospect of a long and drawn-out court case in order to recover economic damages, or the possibility of delays in receiving settlements or jury awards, can compound the difficulties of an already stressful situation.  If you find yourself considering a malpractice lawsuit or are currently embroiled in a protracted legal struggle arising from hospital errors, you may want to consider the possible advantages of medical malpractice lawsuit funding.

What is medical malpractice lawsuit funding?

Medical malpractice lawsuit funding generally takes the form of various kinds of settlement “loans.”  Those who are prudently considering possible options might find the term “loan” intimidating at first, but will be reassured to know that a settlement loan is really more like a kind of cash advance which does not have to be repaid if your case does not yield a successful result.

Lawsuit funding is available both for those who are in earlier stages of litigation, when a settlement has not been reached, and for those who have negotiated a settlement but are still waiting for the funds to be administered.  (These types of loans are called “pre-settlement” and “post-settlement” loans, respectively.)

Medical malpractice settlement loan benefits

Most plaintiffs who file a medical malpractice lawsuit have incurred significant medical expenses and other economic losses related to their injuries.  Moreover, many are struggling with real emotional trauma as a result of their negative experiences, distress for which they deserve compensation.  While the length of a trial or the wait for resolution of a settlement can potentially add to such distress, a medical malpractice settlement loan can help to alleviate pressures at a time when healing or grieving may require considerable time and energy.

A settlement loan can help to keep your finances afloat or pay medical bills while you wait for the resolution of your case.  And since it does not have to be repaid if the case is not successful, the decision to avail oneself of a settlement loan can be a wise decision that shouldn’t keep you up at night when you have more than enough stressful factors to contend with.

Contact LawStreet Capital at anytime at 1-888-566-1189 to learn more about our legal funding options.

A customer representative can answer any questions that you may have at that time.  The application is free and the funds will be in your account within 24 hours once you are approved.