Tragically losing a spouse or a close family member rips your whole world apart. In addition to your personal loss, you may face staggering hospital bills, burial costs, and regular expenses like mortgage and car payments. Your situation could be even worse if you depended on your loved one financially.
You’ll probably hire a lawyer to fight for compensation. However, wrongful death lawsuits can take a long time. Pre-settlement funding could help you hold out until your case settles. You could also apply for litigation funding if you’re an attorney representing bereaved family members.
What Is a Lawsuit Loan for Wrongful Death Cases?
A pre-settlement loan can provide financial relief for family members in the process of seeking compensation for the wrongful death of their loved one. It’s non-recourse funding that the applicant would only have to repay if and when they receive their settlement.
Wrongful death pre-settlement funding could be available in a variety of fatal accident cases, such as:
- Car accidents
- Accidents on someone else’s premises
- Medical malpractice
- Nursing home negligence
The family member or their lawyer would need to show that they have a good chance of collecting compensation. Then they can access pre-settlement funding immediately, without waiting for their case to settle.
Are You Eligible for Legal Funding After Losing a Loved One?
To qualify for pre-settlement funding, you’d need to have the right to file a wrongful death suit in your state. Rules differ by state, but typically, a surviving spouse, child, or parent can start a wrongful death case. In some states, the deceased victim’s personal representative must file the lawsuit.
Since a legal loan is an advance against a future settlement, your prospective payout will influence the pre-settlement loan amount. Your case’s worth will depend on various factors, like the cost of medical care your loved one needed before their death, the estimate of their lifelong lost income, and pain and suffering.
Why Consider a Wrongful Death Lawsuit Loan
The emotional and financial impact of losing a loved one can be overwhelming. If your deceased family member was the main breadwinner, you could struggle with suddenly needing to support yourself while you’re dealing with grief. You may need to cover housing costs, food, utilities, and possibly the medical bills from before your family member’s death.
If someone else’s actions led to your loved one’s tragic death, you could file a wrongful death lawsuit and seek compensation. However, with a lot of money on the table, a wrongful death case could drag out for years. The at-fault party will typically spare no effort to avoid responsibility.
Besides the hurdle of proving fault, the liable insurance company will likely dispute the worth of your case. You could face an exhausting legal and financial struggle before you collect your settlement.
Insurance companies may cynically exploit your difficult situation and try to offer a quick payout that’s much less than what your case is truly worth. You may decide to accept any offer because you need funds right away. Pre-settlement funding can relieve your financial strain and give you more time to hold out for a fair offer.
How Litigation Funding Helps Attorneys Representing Wrongful Death Cases
If you’re a lawyer handling wrongful death cases, you probably work on a contingency fee basis. Months and sometimes years may pass before a case settles and you collect your payout. In the meantime, you still need to live, run an office, and pay your staff.
Your clients, too, feel the financial strain of a dragged-out case. A client may back out of litigation and accept a low settlement because they don’t have the resources to keep waiting for a better offer.
Pre-settlement funding can act like a financial oxygen boost for your law firm and clients. It can help you keep fighting for an optimal outcome on your client’s behalf.
How To Apply for a Personal Injury Settlement Loan
At Rockpoint Legal Funding, we make the loan application process as easy as possible. All you need to do is:
- Complete a short application form. You’ll have to provide basic personal details and specify whether you’re applying for yourself or for a client.
- Wait while we consider your application. We’ll likely ask for supporting documentation so we can estimate the worth of your case correctly. We may also speak to the lawyer representing you.
- Consider our funding offer. After approving you for funding, we’ll give a detailed offer complete with the pre-settlement loan amount and associated fees.
Once you accept the lawsuit loan offer, you can access funds quickly, usually within 24 hours. You can use the money for living costs and any ongoing needs until your case settles.
What’s the Difference Between Rockpoint Legal Funding and a Traditional Loan Broker?
If you apply for a traditional loan, your acceptance typically depends on your credit score. You may also need to provide proof of employment and supply collateral. Finally, you need to repay the loan within the stated term, or you may face penalties.
Pre-settlement funding isn’t a loan in the traditional sense. It’s more like early access to settlement funds that you expect to receive later. The strength of your case will determine your approval for a pre-settlement loan, and you’d only need to repay the funds when you collect your settlement.
What Happens If Your Case Falls Through?
Even if your case seems solid, there’s always a small chance you may lose the suit. If this happens, you don’t need to repay your pre-settlement funds. You risk nothing by applying for a pre-settlement loan with Rockpoint Legal Funding.
Contact Rockpoint Legal Funding Today To Apply for a Wrongful Death Pre-Settlement Loan
Are you struggling with major expenses after losing a loved one? Are you a lawyer negotiating a complex wrongful death case on your client’s behalf? Contact us at Rockpoint Legal Funding. A fast, secure, non-recourse pre-settlement loan can provide the financial support you need to keep fighting for justice.
Call (855) 725-1187 or contact us online to apply for pre-settlement funding today.
