Personal Injury Lawsuit Financing Might Not Be Necessary
Personal injury lawsuit financing offers are rarely necessary. Here is why. Personal injury attorneys work on a contingency basis: this means that they only get paid when you get your settlement money. There is usually just one insurance settlement check made co-payable to the attorney and the injured party.
Very few personal injury lawsuit financing websites advise an injured person to speak with their attorney before applying for lawsuit financing. That is probably because your attorney, if you have one, may tell you that it is not necessary. Again, the attorney gets paid when you do. Any medical providers expecting payment for their bills have been put on notice by your attorney that they will be paid upon settlement of the claim. The more pushy medical providers will file liens against your settlement; they are also waiting for you to get your settlement money.
If the cases goes into litigation (into a lawsuit), then your attorney is still working on a contingency basis and the medical providers are still waiting. The cost of actually filing a lawsuit is usually under a couple hundred dollars (much less for District Court) and the attorney will front that money. There is usually no Discovery allowed in District Court, so there will not be any deposition or expert testimony costs.
If you do need to file Suit in Circuit Court, then costs will not begin mounting until the trial date gets closer and you need to depose expert witnesses. Again, those expert witness bills are usually covered by your attorney who is then reimbursed when you get your money. These personal injury lawsuit financing outfits make their money off interest on unnecessary loans. Talk to your attorney before considering one.This article is written for informational purposes and is not intended to take the place of competent local legal counsel.