Waiting on a legal settlement but need money now?
Maybe you are in the middle of a civil trial, but it's taking too long?
Court cases can be delayed, attorneys for both defendant and the plaintiff can string along the trial for what seems like an endless period, going from deposition to deposition -- meanwhile you NEED a fast financial recovery.
If you were injured, your health care costs could be piling up, bills continue to come in, and you may have lost your job, your ability to work, and the legal system just isn't moving fast enough.
It's an all too common experience.
The solution is legal financing (if your case qualifies), allowing you to borrow against your likely settlement or awarded recovery.
In our latest data snapshot, we outline the length of time most civil trials take to reach resolution. How long it takes on average for a filed complaint to reach trial. -- Here's a hint: It can take quite a bit longer than most people expect.
Then we deep dive into what you NEED to know about legal loans and how they work.
Pre-settlement financing may not be in your best interest, or it might be just what you need to advance the funds you have coming.
Knowing what to expect will ensure you know your options, know what risks there are, the costs etc. So you can make the right choice for YOU.
2. Depends on 2 aspects:
First: Determine What Your
Case Is Worth
DamagesLiability
3. • a percentage of responsibility is
assigned to the defendants for the
injury
• depends upon the specifics of the
case
Liability:
Determining Liability
4. • are financial losses a person sustains as
a result of an injury, accident
or negligent action
• total damages will depend upon the
severity of injury and effects on a
plaintiff’s life
• can commonly include:
- medical expenses
- lost wages
- emotional distress, mental anguish
- pain & suffering
Determining Legal Damages
Damages:
5. According to the Bureau of Justice
Statistics (2005):
• median length of 22 months to from
complaint to civil trial
• trials can resolve quickly or take years
depending on complexity and backlog of
the courts and the type of case
• settlement funding can be delayed by a
number of factors, and getting your
check can take a long time
Source: http://www.bjs.gov/content/pub/pdf/pdasc05.pdf
How Long Does A Legal Case
Usually Take To Resolve?
6. Can I Win If I Go To Trial?
According to the Bureau of Justice
Statistics (2005):
• plaintiffs won in 56% of all general civil
trials concluded in state courts
• among all plaintiffs winners the median
final award was $28,000
7. According to Bureau of Justice
Statistics (2005):
• 4% of all plaintiff winners win $1M or
more
• contract cases have higher median award
($35,000)
• awards in medical malpractice jury trial
($400,000) 17 times greater than median
award in tort jury trials
Source: bjs.gov
Civil Trial Financial Recovery
Data
8. According to the Bureau of Justice
Statistics (2005):
• 30%: plaintiffs received punitive
damages in civil trials
• $64,000: median punitive damage
• $1M or more Damages in 13%: cases
with punitive awards
• 22 months: average complaint to trial
length
Source: http://www.bjs.gov/content/pub/pdf/pdasc05.pdf
Legal Suit Resolutions By
The Numbers
9. How Often Are Big Compensatory
Damages Awarded?
Amount of
Compensatory
Damages Awarded
Number of Civil Trials Punitive Damages
Sought
None 9,733 11%
$1 - $50,000 9,462 12%
$50,001 - $100,000 2,012 12%
$100,001 - $250,000 1,527 15%
$250,001 - $1M 1,347 15%
Over $1M 638 25%
[Data] Percentage of civil trials in state courts with litigations
seeking punitive damages:
Source: “Punitive Damages Awards in State Courts, 2005”
10. Punitive Damages: By Case
Type
[Data] Plaintiff winners awarded punitive damages in civil trials in
state courts (by case type), 2005:
0%
5%
10%
15%
20%
25%
Fraud Employment Unknown
contract
Buyer plaintiff Rental/lease Seller plaintiff
Case Types: contract
11. Seeking Punitive Damages?
[Data] Plaintiff winners awarded punitive damages in civil trials in
state courts (by case types), 2005:
0%
5%
10%
15%
20%
25%
30%
35%
Medical malpractice Automobile Intentional tort Other tort Product Liability
Case Types: tort
12. How Often Do Plaintiffs Win?
According to the U.S. Department of Justice report:
0%
10%
20%
30%
40%
50%
60%
70%
Motor vehicle related
incidents
Intentional tort trials Premises liability
trials
Product liabilities Medical malpractice
The Success Rate For Plaintiffs
13. Who Do Individual People
Most Commonly Sue?
According to the report (2005):
Who Individual People
Sue
Number of Lawsuits What’s Their Average
Award
Individuals vs.
Individuals
11,224 $20,000
Individuals vs.
Businesses
7,472 $80,000
Individuals vs.
Government
1,546 $80,000
Individuals vs.
Hospitals
1,383 $600,000
14. How Long Do Personal Injury
Cases Take In Court?
According to the U.S. Department of Justice report:
Personal Injury Cases
(that would go to trial)
The Average Court Process Time
Tort lawsuits 23 months
Motor vehicle accidents 20 months
Medical malpractice 31 months
Premises liability 24 months
Intentional tort cases 25 months
15. What Is Pre-Settlement
Litigation Funding?
Pre-Settlement Litigation Funding:
• non-recourse cash advances,
secured against a legal settlement
or award, given to the plaintiff
repaid after the lawsuit is won and
the settlement funded
16. What Does Settlement Financing
Require of the Borrower?
Pre-Settlement Litigation Funding:
• is not a loan, in the traditional sense
• doesn’t require payments until a
settlement funds
• doesn’t require repayment if you don’t
receive compensation / win your case
17. Legal Financing Process:
As Easy As 1-2-3
With client’s permission,
the lender will discuss
the case details with the
client’s attorney
Case qualifies?
Then funding is approved
The contracts signed.
Money is funded!
1
2
3
18. Eligibility Requirements
• borrowers must be involved in a lawsuit
and are represented by an attorney
• borrowers that have a lawsuit settlement
and are awaiting payment
19. Does My Case Qualify For
Settlement Loan?
• applications are evaluated individually
• cases which typically qualify for
settlements:
- auto accidents
- personal injury cases
- medical malpractice
- pedestrian injury
- pharmaceutical & drug injury lawsuits
- product liability
- premises liability
- wrongful death
- labor & employment disputes
20. The Reasons People Choose Pre-
Settlement Funding?
• allows to receive cash quickly (can
help if falling behind on bills waiting
on a lengthy legal process)
• there’s no risk involved
• qualification is based upon the details
of your case - it’s likelihood of success
• only a few eligibility requirements for
lenders (state of residence restrictions
for some lenders)
21. • funds aren’t limitless
(in general, you will not receive more than
10% of the anticipated settlement amount)
• upon winning your case the agreed
amount will be deducted from your
awarded settlement
(in general, the rates are higher than bank
loan rates)
What Drawbacks Should Be
Considered?
23. Have your rights been violated?
For more information about your pre-settlement
finance options and to find out if you qualify for legal
funding, visit here:
www.lawsuitlegal.com
Connecting people with legitimate legal claims to
attorneys nationwide who can help, Lawsuit Legal
makes it simple and easy to acquire award-winning
legal assistance when it's needed most.
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