Product Defects Settlement Funding Company Helping Plaintiffs Needing Financial Relief
Lawsuits against the manufacturers of defective products can often be lengthy and laborious. Also referred to as product liability lawsuits, this type of claim seeks to reimburse users of a product that presented a catastrophic failure and ended up causing injury or illness. Plaintiffs are usually going up against large corporations and a long fight may ensue. It may be hard to wait for a settlement check when you are hurt and unable to work, but with settlement funding, you do not need to wait for your case to resolve before accessing a portion of your money.
How Can Settlement Funding Help Me Get Cash for My Product Defect Lawsuit?
Let’s say you initiated a lawsuit after your new dishwasher caused a fire in your kitchen despite being properly installed and operated according to the user manual. You have the entire burden of proof to demonstrate that the dishwasher was defective and that the defect caused the fire that destroyed your kitchen.
This type of case can drag on for months, even years, depending on how hard the manufacturer of the product fights back. If your finances have been affected and you need some cash to get ahead, you may apply for a product defect lawsuit funding agreement and receive a portion of your money even before your case settles. It’s a safe and risk-free way to get a cash advance on your settlement award.
Is Settlement Funding Bad for My Credit?
Many people worry about getting settlement funding because they think it may impact their credit score. The truth is that settlement funding is an alternative to a traditional loan that does not require a credit check.
Whether you are worried about lowering your credit score or think that you may not qualify for a settlement funding agreement, you may rest assured that your credit history and score are not affected — neither are they used for making a decision. What hurts your credit is getting behind on bills or having an excessively high credit card balance for using credit to cover daily living expenses while you wait for your lawsuit to settle. With a lawsuit cash advance, you can catch up on bills and take care of your needs without worrying about monthly payments.
How Much Money Will I Be Able to Receive?
Typical product defect lawsuits will usually go after compensation for both economic and non-economic losses, i.e., actual bills and expenses related to the product defect as well as pain, suffering, and emotional distress. The value of your case depends on whether you were injured (and how seriously), the scope and size of any material losses caused by the defect (loss of wages, property damage, etc.), and how much the incident affected you on an emotional level.
Universal Funds will work with your attorney to figure out an approximate value for your case, and from there we can put together a cash advance offer. Our offer is usually a percentage of the total expected settlement amount, but the exact amount of your cash advance can only be determined on a case-by-case basis.
Can My Attorney Keep Me From Getting Settlement Funding for My Product Liability Case?
Many plaintiffs worry about telling their attorney about their plans of getting settlement funding during their product defect case. Your attorney is in charge of your case and should be working in your best interests. He or she may advise you against getting settlement funding, but it is ultimately your decision.
Not only is it a bad idea to withhold this information from your attorney, but it will also make it harder for your settlement funding provider to compile an accurate offer, as we often rely on case information provided by your lawyer. If you are considering getting a lawsuit cash advance to help you stay afloat, talk to your attorney and then reach out to the team at Universal Funds at (484) 341-7106. We are to address all your questions and concerns and help you get back on track.