The Truth About Legal Funding
With personal injury claims on the rise, year over year, the state of Florida has seen a drastic increase in the number of civil cases that move through its courtrooms every year. And with drunk driving figures increasing, accidents in general rising, and more negligent actions occurring across the state every single year, personal injury attorneys certainly have got their hands full dealing with the heavy caseload. One of the biggest issues that has acted as a catalyst in the world of personal injury law, specifically over the past year, 2020, has got to be the COVID-19 pandemic. The pandemic has been crippling to pretty much every country, and its economy, and while there has certainly been somewhat of a bounce back in recent months, joblessness numbers are still some of the highest they have ever been, people are still getting sick, the country recently recorded its 400,000th death as a result of the virus. In fact, as news outlets have reported about an even stronger strain of the virus going around in certain areas, with infections everywhere from California and Colorado to parts of the East Coast, and vaccine distribution meandering at quite a slow pace – things are still quite scary for many individuals on the ground. This is especially the case for individuals in the state of Florida, where many individuals still refuse to wear masks, and are still gathering in huge numbers – leading to some of the highest outbreak numbers in the country. These outbreaks lead to financial issues, and prevent many from being able to fund their cases. Due to such issues, many seek to acquire plaintiff funding Tampa experts at Express Funding of America, can provide individuals the cash they need to not only fund their lawsuits, but to cover bills, medical costs and much more during their time of need.
While legal funding can be explained a number of different ways, it can be quite confusing to an everyday individual. When it comes to obtaining pre-settlement funding Tampa plaintiffs should do their diligence, and get help from their lawyers to make sure they understand every detail of their funding agreement – before agreeing to it. To better understand the process involved in plaintiff funding Tampa experts at Express Funding are here to help lay out the process in the simplest of terms, in a few simple, and easy to understand steps.
1. Applying for Legal Funding
When it comes to pre-settlement funding Tampa plaintiffs are advised to do their homework, and find a company that works best for their needs. Known to provide the best plaintiff funding Tampa has to offer, Express Funding is a common choice. The plaintiff and their attorney must first apply for funding, by contacting the team and laying out each and every detail of their personal injury claim. Having the help of an attorney is advised as they will know more about the case and its value than the client. Once you give them the details of your case, they will deliberate on whether or not they feel you have a strong enough case to warrant legal funding, and what the dollar amount should be.
2. Getting Paid
Once Express Funding decides that your legal funding application has been accepted, you can get access to your funds in as little as 24 hours! Generally, for yours and their protection, when it comes to pre-settlement funding Tampa experts at Express will provide you with approximately 10-20% of what they believe to be your likely payout or settlement number.
3. Your Case & Using the Funds
At this point, you now have your funds, and can use them in a number of different ways. They may be used to fund your trial, and cover legal costs, cover medical bills, or the cost of surgery, pay your bills while you are injured and out of work, and more. As your case moves forward, in certain cases, you may be able to attain more funds, but this is dependent upon the specific situation.
4. Paying Back the Funds
This method of funding is known as non-recourse funding, meaning you must only pay Express back in the event that you win your case, or agree to a financial settlement with the defense. When paying back your legal funding, there may be some associated fees that must be paid back to the company as well, again, only if you get paid, do they get paid! Whatever associated fees or additional charges are to be agreed upon before the funding is granted, and you will be made fully aware of this – no surprise fees or unwanted charges! Whatever is leftover from your settlement, after paying your attorney, and handling any possible court fees, or medical liens from your insurance company, are 100% yours to keep.
For more information on the legal funding process, be sure to contact Express Funding today.