Benefits of Legal Funding for Medical Malpractice Cases

Jacky Gale | July 25th, 2015

patient receiving dialysisIn 2013, the National Practitioner Data Bank reported that victims of medical malpractice obtained payouts of $3.6 billion during that year alone. In fact, there was one medical malpractice payout every 43 minutes in 2013. Given these statistics, it’s easy to assume that victims of medical malpractice are well taken care of. However, these statistics do not reflect the months or years that plaintiffs must wait for their case to be resolved. In the meantime, plaintiffs still have to pay often exorbitant medical bills on top of their everyday living expenses. This financial strain is why many medical malpractice plaintiffs turn to lawsuit funding.

Peace of mind

With lawsuit funding from LawStreet Capital, medical malpractice plaintiffs can enjoy peace of mind knowing that they can provide for their families. Victims of medical malpractice may sometimes require lengthy hospitalizations, multiple surgeries, expensive diagnostic tests, an ongoing medication regimen, and similar expenses. And while they’re recovering from their injury or illness, they often can’t work. In fact, some victims of medical malpractice become permanently disabled.

Zero-risk cash advance

Medical malpractice lawsuit funding can help these individuals by providing a cash advance against an anticipated settlement or jury award.

Lawsuit funding is non-recourse, which means there is never any risk for the plaintiff. Unlike a traditional bank or credit union loan, a settlement loan does not need to be repaid in the event that the plaintiff loses the case. Additionally, there are no restrictions regarding what the plaintiff can spend the money on.

The cash advance can be used for rent, mortgage payments, utility bills, groceries, and court or lawyer fees.

Leveling the playing field

It is not uncommon for a plaintiff to agree to a settlement prematurely. Even if the defendant does not offer just compensation for the plaintiff’s damages, the plaintiff might feel pressured to accept the settlement just to get money in the bank as soon as possible. In fact, in 2013, 93 percent of medical malpractice payouts were attributed to settlements, rather than jury awards, according to the National Practitioner Data Bank.

With lawsuit funding, medical malpractice victims can avoid settling for less than what they deserve. The legal funding company never interferes with the legal proceedings or pressures plaintiffs to settle.

Leading medical malpractice settlement loan provider

LawStreet Capital is widely recognized as a leader in the industry, with some of the most competitive rates available. If you’re still unsure about whether lawsuit funding might be right for your needs, call us toll-free at 888-575-0362 to speak with a knowledgeable representative.

Remember that there is never any risk to you and no obligation to determine your eligibility for a cash advance!

You could be approved for medical malpractice lawsuit funding in as few as 24 hours. To make the process even easier, we’ve included a simple contact form on our website. Fill out our fast online application and include a brief description of your injuries, and we’ll be in touch with you soon to explain your options.