SETTLEMENT ADVANCE
A settlement advance can help plaintiffs get everything they’re entitled to
In this economy, the country has seen an increase in the number of lawsuits filed because of the negligence of another person or corporation. With every dollar being fought for, these cases drag on much longer and become much more contentious than they used to be. The US justice system is already slow, but large and well-financed corporations and their attorneys can drag cases on as long as possible to try to put financial pressure on the average person who is dealing with these types of cases. Their goal, if the corporation knows they will lose, is to force the plaintiff to have their case delayed long enough to make them accept a substandard settlement.
People who have significant negligence cases are often dealing with huge medical bills as well as having missed work. This means that people are often desperate for money to deal with the result of the negligence. The insurance companies and high priced attorneys seek to exploit this financial pressure. AM Legal Funding is trying to change this awful trend. They will provide a settlement advance to people who are facing a negligence case. A settlement advance represents a percentage of the expected award for a lawsuit. A lot of times the facts of the case are clear and the result isn't in doubt, but the amount of time needed to resolve the case is longer than the plaintiff can handle.
Defendants are having to be more fair to the average person because of the availability of the settlement advance option
A settlement advance can often be the difference between the amount of money a person deserves and a lower amount (that doesn't cover everything) that the insurance company gives out to make the case disappear. Settlement advances are a relatively new trend in handling negligence cases. They are hated by insurance companies that now have to provide fairer offers, rather than being able to squeeze the average person under financial pressure. As we hear every night on the news, fewer families than ever have good health insurance. In a complex negligence case, this can mean that medical bills are often accruing rapidly. A settlement advance can be used to take care of these expenses. There are more and more two income families in this country, but there are still a good number of households where only one person is working. If that sole breadwinner happens to be injured, the family's finances may suffer quickly. In fact, there may not be any money coming into the household at all for a certain period of time. Combining that with the fact that savings is at an all time low in this country, it can mean that a disruption of income is devastating.
A settlement advance can be used for any purpose. It can be used to pay rent, pay for food, and pay for whatever other expenses arise. In fact, AM Legal Funding does all of the work. They discuss the facts of your case with the plaintiff and their attorney and then make the offer of a settlement advance if appropriate. Many people think this is like a traditional loan, but it isn't, because there is no potential downside for the client. AM Legal Funding takes on all of the risk of the case. If there is no award, meaning if the case loses for any reason, AM Legal Funding does not ask that the injury settlement advance be paid back. Assuming the case is successful, the settlement advance is paid back with interest as agreed between AM Legal Funding and the plaintiff.
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