Have you recently received a spinal cord injury and are looking for legal advice? Do you want to pursue compensation for your injury, but unsure of how you can afford it? If so, then you need to learn all that you can about lawsuit funding for your case.
Doing so can give you a distinct advantage while you search for a settlement. The amount you need might be significantly higher than most other personal injury cases, so it could take a while before the opposition gives way to your demands.
Were you recently a victim of a spinal cord injury? If you’re wondering how to fund your case, here’s a quick guide to lawsuit funding to help you out.See below for an in-depth guide highlighting what a spinal cord injury lawsuit is and tips for how to fund it properly.
What Is a Spinal Cord Injury Lawsuit?
Most types of personal injury cases focus more on the situation of the accident or the cause of the injury you sustained, such as an auto accident case, medical malpractice, slip and falls, workplace injuries, and so forth.
A spinal cord injury lawsuit is different in that it focuses on the actual injury that you suffered because of the accident. Why? Because spinal cord injuries are one of the most severe and life-altering accidents that could ever occur.
These can occur in vehicle accidents, slips/trips, sports games, and so much more. When they happen, they can severely threaten the quality of life moving forward.
If you’ve sustained a spinal injury due to someone else’s negligence, there are two things you should prioritize: 1) getting medical treatment for your spinal injury and 2) receive compensation to cover the medical expenses, in that order.
The steps that you take next all play a pivotal role in your case. Be sure to seek out medical attention immediately, otherwise, it can worsen your injury and put a damper on your case. The opposition will claim that if the injury were as bad as you claim, you would’ve sought out a treatment sooner.
Tips for Spinal Cord Injury Lawsuit Funding
As previously mentioned, a spinal cord injury is one of the most detrimental injuries that a human can experience. As such, you’ll need to receive compensation for not only the short-term medical expenses but your well-being down the line.
Lingering effects of spinal cord injury can affect your ability to work. In which case, you’ll need more money to protect the financial well-being of your family. See below for several tips you can use to fund your spinal injury lawsuit.
1. Hire an Attorney
At first glance, you might not think that hiring an attorney has any correlation to your lawsuit funding. However, there are actually two ways that it can affect the funding you’ll need.
First and foremost, you’ll want to account for the cost of the attorney. This includes their hourly rates as well as any lawyer fees that they’ll place at the end of the process.
While it can be a pain to pay for lawyer fees, they’re worth every penny. You need their experience and know-how to see your case through. To get proper compensation from the opposition, you’ll need an attorney to build your case.
Secondly, they can help you figure out how much compensation you should be actively pursuing. This sets a standard that you can use throughout the process. You won’t be satisfied until you get the compensation you deserve.
2. Seek Proper Compensation
The compensation that you search for has a direct impact on how you should plan to fund your lawsuit. The higher the amount that you’re seeking, the longer you should expect to wait it out before settling on that amount.
Typically, lawsuits involving spinal cord injuries can result in you and your attorney settling for a compensation of $1 million or more. That amount can easily skyrocket depending on your conditions.
As previously mentioned, your lawyer will help you determine how much compensation that you actually need. That way, you’ll have more confidence that you are seeking out the proper amount.
3. Apply for Pre-Settlement Funding
You might be reading this article and wondering “How in the world am I going to pay for all of this in the short-term?”. That $1 million compensation sounds great, but it could be two years before you get to that point.
How will you be able to cover the medical expenses, lawyer fees, and everything else that occurs in the short-term? With pre-settlement funding.
This allows you the chance to cover all expenses that you’ll accrue throughout the duration of your case. That way, you can focus on getting the medical attention you need without placing financial stress on you and your family.
Better yet, if you don’t win your case, you don’t owe anything. You’re only required to pay back the pre-settlement loan if you win your case.
4. Seek Out Spinal Cord Injury Grants
There are many resources available to you and your family when you suffer a spinal cord injury. Many places offer grants to give your family financial relief during these trying times.
Do some research to learn about the different grants you might be eligible for. They can help you accomplish things like investing in a wheelchair, pursue a degree, receive education on your injury, and so much more.
Even if the spinal cord injury has altered your life path, there’s still so much opportunity out there for you!
Receive Your Lawsuit Funding With Pre-Settlement Loans
Now that you have seen an extensive list of ways to receive the lawsuit funding you need for your spinal cord injury, be sure to use this to your advantage as you start the process.
Be sure to read this article for more information on the common tactics insurance companies use to try and devalue your personal injury claim.
For more inquiries, please be sure to reach out via our contact us page and we will be happy to assist you further.