Have you recently suffered an injury (slip, fall or another accident) due to the unsafe conditions on someone else’s property? It can be overwhelming, as accidents related to premises liability can drain you both physically and financially. The aftermath of such accidents can leave you with lost wages, medical bills and emotional distress. Even though you can file a premises liability claim to get legally compensated, it may take months and even years to conclude. Instead of exhausting your savings while waiting for legal compensation, you can use third-party litigation funding for individuals.
Want more information about third-party litigation financing for premises liability lawsuits? Let’s discuss this more in the following blog post.
What is third-party legal financing?
Legal funding is a financial tool for plaintiffs, allowing them to secure funds to cover their medical bills, living expenses and legal fees during the litigation process.
A premises liability lawsuit happens when accidents occur due to unsafe conditions on someone else’s property. Third-party legal financing can provide you with vital support while you await the outcome of your premises liability lawsuit.
Upon applying for litigation financing, third-party funders will evaluate your lawsuit. If they notice that there is a strong chance of successful outcomes, they’ll offer you the funding amount based on your case. If you accept the amount, they’ll transfer the funds to your account.
How does third-party legal funding work on premises liability lawsuits?
Third-party legal funding can be especially helpful for individuals who are facing financial issues due to ongoing medical treatment or are unable to work because of their injuries.
Litigation finance works as a cash advance based on the potential outcome of your lawsuit.
It’s crucial to understand that third-party legal financing is nothing like a traditional loan.
It’s rather a ‘non-recourse payment,’ where you don’t have to pay anything back if your case fails. Only if you win the case do you need to repay the funders from the proceeds of your settlement.
It can be a huge relief for claimants who are worried of paying daily living expenses, when fighting for their rights.
With third-party financing, you can remove the financial stress from your shoulders and focus on getting better legal assistance to build the strongest case possible for you.
Why should you consider third-party litigation financing for premises liability cases?
Third-party funding allows you to fund your premises liability lawsuit through third-party funders and access better legal assistance.
However, litigation funding is more than that.
Besides hiring a better lawyer, third-party funding can assist you with the following:
1. You can cover your medical bills and surgery costs with the funding amount.
2. You can pay for transportation to and from the doctor’s office for future follow-up.
3. You can cover the school and tuition fees of your children with the legal funding amount.
4. You can pay your house rent, utility bills and credit card bills with third-party legal finance.
5. You can buy groceries and other essential commodities for your family with the amount.
6. You can pay car loans, home loans or house mortgages (if any) with the funding amount.
7. You can take care of any disabled relatives or kids dependent on you with the amount.
8. You can hire a full-time homecare professional to help you with your household chores.
Take away
Are you or any loved one dealing with injuries due to someone else’s premises liability? Instead of waiting for months or even years for legal compensations, seek third-party litigation funding for individuals. Legal financing allows you to fund your premises liability lawsuit through a third-party funder and access better legal assistance. However, you must understand a few facts before proceeding. We hope this blog post with the facts mentioned above can help you with that.
Author Bio: The Author is a professional legal financier in Australia. For years, he’s helped many people to finance their lawsuits through legal financing. Along with that, he’s also written many articles and blogs on various related topics like the benefits of third-party litigation funding for individuals, etc. and others for his readers.
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