Wrongful Death Lawsuit Loans

Who qualifies for wrongful death lawsuit funding?

If you believe that the money from lawsuit funding could help ease financial distress as you wait for settlement of a wrongful death claim, you need to decide whether you meet the basic requirements to apply. You must be represented by a lawyer, and there has to be a wrongful death lawsuit filed in a court on your behalf.

Whether or not you qualify for funding of a wrongful death claim may depend on the law in your state about the person authorized to file a wrongful death lawsuit. Some states, such as California , allow it to be brought in the name of specific members of the family of the deceased, such as spouse and children. 

Other states, such as Illinois, only permit a personal representative of the deceased to be named as the plaintiff in wrongful death cases even though money recovered through settlement or verdict in the lawsuit ultimately goes to the next of kin of the deceased.

LawsuitLoans.io evaluates the wrongful death claim to determine that you have a strong case and evidence to prove liability and damages against the person responsible for causing the death of your loved one. This is a critical element of the qualification process because repayment of the money advanced to you depends on the lawsuit ending with a settlement or verdict in your favor.

It is also essential that the value of the wrongful death claim be an amount sufficient to pay the legal fees owed to your wrongful death attorney and litigation costs with enough money remaining to repay the cash advance and interest on it. Keep in mind that the amount of legal funding available in a case is a percentage of the projected value of a future settlement or verdict.

What qualifies as wrongful death?

A wrongful death claim arises when the negligence or intentional conduct of another party causes the death of a member of your family. The following situations may be the basis for a wrongful death claim:

• Motor vehicle accidents
• Defective product accidents
• Premises liability accidents
• Slip-and-fall accidents
• Medical malpractice
• Police brutality
• Criminal acts and other forms of intentional conduct

As a general rule, any type of personal injury claim that causes a person to die can be the basis for a wrongful death lawsuit. If you are not sure whether your lawsuit qualifies for pre-settlement funding, a funding specialist at LawsuitLoans.io can help you.

How does legal funding work for wrongful death claims?

If you are named as the plaintiff in a wrongful death lawsuit that has been filed in court, LawsuitLoans.oi works with the attorney representing you in the lawsuit. The details about the case, pleadings and other documents provided by your lawyer are used to evaluate the strength of the claim against the defendants, the likelihood of it producing a verdict or settlement in your favor, and its value after payment of legal fees and litigation expenses owed to your attorney.

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If the lawsuit is approved for funding, your attorney will be notified and provided with information about how much was approved as a cash advance, the interest rate and other terms related to the transaction. Once you and your attorney accept the terms of the funding, money can be available to you in as little as 24 hours.

Unlike traditional loans that require monthly payments to repay the debt, repayment of the money you receive through pre-settlement funding and interest on it are repaid from the settlement or judgment. If you lose the lawsuit, you owe nothing because it is a non-recourse loan, which means that you have no personal obligation to repay the debt.

How much pre-settlement funding can you get on a wrongful death claim?

The amount of money you can receive through pre-settlement funding depends on the facts of the case, the value of the potential settlement or verdict, and the terms of funding offered by the company that approved your application. Factors affecting the amount of funding offered to an applicant include:

• Terms of the funding: LawsuitLoans.io funds up to 25% of the net portion of the expected net settlement in wrongful death lawsuits. Legal fees and litigation expenses owed to your attorney are paid from the settlement to arrive at the net settlement proceeds from which the money advanced and the interest on it are paid.
• Expected settlement value: A number of factors determine the potential settlement value of a wrongful death case. For instance, the advanced age of the deceased is a key factor in wrongful death claims because it reduces the number of years that family members would have benefited from support had the person survived the accident. Another factor affecting value is the income and earning power of the accident victim. The death of a high-earning individual may result in a higher settlement.

• Pain and suffering of the deceased: If the victim of an accident was alive for any length of time after the accident, the value of a wrongful death settlement may increase because of pain and suffering damages.
• Availability of liability insurance: The coverage limits of liability insurance to pay the wrongful death claim affects the settlement value. Low coverage limits may decrease the value of a claim while higher policy limits may increase it.

Benefits of pre-settlement funding for wrongful death lawsuits

The availability of immediate access to money at a time when you probably need it the most is a key benefit of pre-settlement funding. The average family may already be struggling to make ends meet when the death of a loved one leaves them with funeral and burial expenses and medical bills to pay. Lawsuit funding provides the money to take care of the additional financial obligations along with the funds to pay everyday household expenses.

Some of the other benefits that pre-settlement funding may provide to you and your family include the following:

• Giving your attorney time to get you the settlement you deserve: Insurance companies know that the longer they delay a lawsuit, the more frustrated plaintiffs become. This is especially true when plaintiffs are under financial pressure with added expenses and the loss of a source of income. Pre-settlement funding removes financial pressures and lets you ignore delaying tactics.
• No credit check or employment verification required: Repayment of the money owed to the funding company is paid from the settlement or judgment awarded to you. The company cannot look to you for repayment even if you lose the case. Therefore, funding decisions do not rely on your income, assets, or employment.
• Pre-settlement funding does not affect your credit: Because it is a non-recourse loan, which means the company cannot look to you for repayment, the funds you receive do not add to your debt or affect your credit score.

Learn more about the benefits of pre-settlement funding by calling LawsuitLoans.io at (800) 340-4973 or apply online.