Disclaimer: Consumer legal fundings and advances are not loans under applicable financing laws. Rockpoint’s products are non-recourse, meaning if you don’t win your case, you don’t have to pay us back. Receiving financial support in connection with a legal case is typically (and oftentimes incorrectly) referred to as a “lawsuit loan” or “loan.” Therefore, for the ease of search references, these terms may be used in this context to refer to our funding products, but we maintain our separateness from consumer loan products in all legal aspects.
Enduring an accident that leads to amputation can be devastating, especially when you know another party was negligent. While a personal injury lawsuit should allow you to secure compensation, the process can take some time. How do you afford your expenses in the meantime?
Many plaintiffs turn to amputation lawsuit funding, a form of pre-settlement funding that provides an advance on a portion of your eventual settlement. Funding companies review several factors to determine your eligibility for funding and the amount to offer you. Understanding these factors can help you go into the personal injury lawsuit funding process with confidence.
What Is Amputation Lawsuit Funding?
Amputation lawsuit funding is the term for pre-settlement funding for amputation lawsuits. It’s a form of cash advance that plaintiffs in personal injury lawsuits can apply for to ease their financial burdens while they await their settlements.
Many companies, such as Rockpoint Legal Funding, offer such advances. Unlike conventional loans, amputation lawsuit funding is non-recourse. In other words, should you happen to lose your lawsuit, you won’t need to pay back a penny of your funding amount.
Your lending company will review your legal case and several other factors to determine your eligibility for this type of funding. If you qualify, they will offer you a percentage of your expected settlement in advance. If you win a settlement down the line, you will repay the amount of the advance, plus fees. These fees will be made known to you up front, as amputation lawsuit funding doesn’t require monthly payments or come with interest.
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Factors Affecting Your Amputation Lawsuit Funding
When you apply for amputation lawsuit funding, your funding company will likely consider all of the following criteria to determine your eligibility for and amount of funding.
Your Evidence Against the Defendant
Funding companies want to ensure that you have a strong legal case. Because amputation lawsuit funding is non-recourse, your funding company assumes the risk for your case when they offer you an advance. By verifying that your case is strong, they can feel more confident lending you money on the assumption that you will win your lawsuit.
As a result, your lending company will ask about the evidence you have against the defendant in your lawsuit. They may request copies of the evidence or your lawsuit paperwork. At the very least, they will want to hear a summary of the events that led to your amputation.
The more evidence you can provide to the funding company, the greater your chances of securing a settlement advance.
The Severity of Your Injuries
While talking about your injuries may feel challenging, you will need to provide the details to your lending company if you want to secure funding. Your lender isn’t trying to pry, but they need to know the impact the accident had on you as part of your settlement calculation. This can help them determine how much your case may be worth and, therefore, how much funding to offer you.
You may need to provide copies of your medical bills and records as part of your amputation lawsuit funding application. When calculating your funding amount, the funding company will consider your injuries and evaluate how they have impacted your life.
Your Economic and Non-Economic Damages
You’re likely pursuing both economic and non-economic damages in your amputation lawsuit. Inform your pre-settlement funding company of all the damages you intend to seek during your case, such as:
- Medical expenses
- Property damage
- Lost income
- Pain and suffering
- Loss of enjoyment of life
Providing a list of your damages and a calculation for each can help the funding company assess the value of your lawsuit.
Your State’s Contributory vs. Comparative Negligence Policy
How your state handles negligence can impact the value of your case and your potential for funding. If your state follows a comparative negligence policy, your compensation amount may be reduced by your percentage of involvement in the accident. If it follows a contributory negligence statute, you may not be able to recover any compensation if you were even 1% at fault.
Your Attorney’s Involvement in Your Case
Pre-settlement funding companies typically require plaintiffs to work with attorneys to consider them for funding. Your lender will want to speak with your attorney and ensure that they are representing your case. Pursuing an amputation lawsuit without an attorney significantly diminishes your chances of securing compensation.
Your attorney should be able to provide much of the above information during their conversation with the lending company.
Your Lawsuit Stage and Timeline
Finally, the lending company will assess the stage of your lawsuit and the expected timeline for its continuation. The lender may not want to provide an advance if your legal case is nearing its end. Lawsuits with a long road ahead are typically better candidates for pre-settlement funding.
Seek Fast Amputation Lawsuit Funding From Rockpoint Legal Funding
Seeking pre-settlement funding can help you afford the expenses involved in your catastrophic injury while you await your settlement. At Rockpoint Legal Funding, we make the process of seeking a pre-settlement advance simple.
Fill out our online application or call us for a free case evaluation. We’ll walk you through the steps to apply for our same-day pre-settlement loans. Many applicants for amputation lawsuit funding receive their funding within one business day of approval.
Contact us today at (855) 626-3214 or fill out our online form to submit your case for review. We’re available 24/7, 365 days a year, to speak with you.
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