Workers Comp Lawsuit Funding
-What You Should Know
Mar 22, 2010
We all like to believe that, should something happen to us when we are on the job, our employer will take care of any medical bills or any regular bills that are accrued during the time when we are unable to work to earn a living. This is what is known as workers compensation. workers compensation, also known as workers comp, is a state-mandated insurance program that is designed to provide compensation for employees who are on the job and who suffer from job-related injuries. This program was created so that workers who are unable to work do not have to worry about medical bills or other bills that they aren’t able to pay during the time that they are laid up.
Reality
Unfortunately workers compensation doesn’t always work the way that it was intended to work. Many times workers become injured and then take their employer to court in order to get the funds that they need to survive only to discover that the process for getting funds from a company can take a very long time. This can be very disheartening to people who need the money in order to survive.
Other Options
One way that you can get the money that you need to have when you’re dealing with a workman’s compensation lawsuit is to get workers compensation funding, or lawsuit funding. This is funding that is given to you before any settlements have been reached and that can be advanced to you while you are still in the process of resolving your lawsuit. What happens is that a company that specializes in lawsuit funding reads over your workers compensation claim in order to ensure that it is a valid claim and that you are going to have a good chance of winning it. Once they have determined that you are likely to win your case, they advance you an amount of money. Then, when your case is won, the company receives back the amount of money that you received plus fees in advance before you are paid. This allows you to get the money that you need when you need it.
The thing that most workers don’t realize about workers compensation lawsuits is that they can take a very long time in order for them to be finalized. In many cases workers compensation lawsuits take years before a settlement is reached, and it can be months more before the settlement amount is deposited in the plaintiff’s bank account. Getting workers compensation funding allows you to be able to get the money that you need right now to pay off the bills that you have and any medical expenses that you may accrue.
For more information about workers compensation funding, feel free to visit Lawsuit Hotline. They have extensive experience in workers compensation funding and may be able to help you to get the money that you need while your case is in progress.