How Legal Funding Helps Level the Playing Field

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How Legal Funding Helps Level the Playing Field

by | May 4, 2021 | Legal Funding | 0 comments

Ensuring More Injury Victims Receive the Compensation They Deserve

Accident and injury cases can take weeks, months, or even years to resolve. Few plaintiffs can afford to wait for the compensation that they deserve. Knowing this, insurers will often entice injury victims with early but low settlement offers or threaten extended litigation. Legal funding helps alleviate the financial hardship that injury victims face while they wait for compensation.

At Triumph Legal Funding, we believe that by providing accident and injury victims with the money they need, we can tip the scales in litigation, making it more equitable. All funding is provided risk-free with no upfront costs or fees. We are committed to making legal funding easy. Contact our office today at (973) 362-3500 to get started.

Legal Funding Acts as an Important Equalizer

Insurers and defendants generally have an incentive to prolong litigation. Knowing that plaintiffs cannot afford the long game, insurers will use deceitful tactics to delay paying claims. Pre-settlement legal funding bridges the gap between the accident and ultimate settlement by easing the financial distress caused by a serious injury or wrongful death. 

Legal funding can:

  • Balance the level of legal representation and improve access to justice.
  • Help more injury victims afford litigation and receive the compensation they deserve.
  • Absorb some of the risk associated with plaintiff litigation.
  • Lessen the chances that a plaintiff will accept an unfair settlement offer.

Pre-settlement Funding Helps Increase Access to Justice (and Representation)

There is a great inequity in our nation when it comes to access to justice and legal representation. In 2020 alone, large companies in the United States spent 22.8 billion in litigation costs. The cost to litigate a case is only expected to rise. 

Many small to midsize law firms are quickly deterred from taking on the risks or costs associated with plaintiff litigation. Few injury victims are willing to wait for the settlement that they deserve, not because of the merits of their case but because they need to pay their bills and support their families. 

With only a handful of law firms willing to take on these cases, justice becomes increasingly limited to lower-income individuals. Pre-settlement lawsuit funding provides a solution, enabling more law firms to enter the game.

Legal Funding Helps Individuals and Law Firms Afford Litigation

The upsetting truth about plaintiff litigation is that insurance companies and defendants have deep pockets. They can afford to prolong litigation as long as necessary in order to avoid paying a large settlement or receiving an unfavorable verdict. 

Litigation is expensive, complex, and risky. For a personal injury attorney and their client, it becomes a David vs. Goliath scenario. The financial burden on both law firms and injury victims often proves too much, meaning that valid claims never see their day in court. Injury victims and their families end up settling their case for far less than it is worth or, worse yet, receiving nothing.

Legal funding helps to ensure that injury victims and the law firms that represent them have the capital and resources that they need to withstand lengthy litigation, ultimately limiting the obstructive behaviors employed by insurers.

Lawsuit Funding Helps Absorb the Risk

With legal funding, we take all the risk. We receive our payment through an agreed-upon portion of your total recovery amount. If the case is not successful, you pay us nothing. Unlike a loan, attorneys and their clients will never face unexpected fees or hidden costs. Funding is provided risk-free to injury victims. 

By partnering with attorneys to alleviate the financial stress created by an accident or injury, we allow them to focus on the case. Injury victims no longer have to consider how they will be able to pay rent if they have to wait another month for their case to resolve. Attorneys and their clients are given access to capital, leveling the playing field with the insurance giants that they are usually up against. 

Lawsuit Funding Eases the Pressure to Accept an Unfair Settlement

Being seriously injured in an accident makes it difficult to pay your bills. Despite being unable to work, injury victims may feel the heavy burden of mounting medical bills and unaffordable living expenses. The pressure to settle a case can become insurmountable as their rent or mortgage becomes due.

Legal funding provides money immediately to an injury victim, allowing them to pay for treatment, make car payments, and afford housing. By relieving that pressure, fewer plaintiffs end up agreeing to a quick settlement allowing their attorneys to fight for the compensation they deserve.

Contact Triumph to Get the Financial Assistance You Need

We are committed to ensuring that all injury victims, regardless of income, are able to afford litigation and are given equal access to quality legal representation. Call our office to speak with a funding specialist today. We proudly serve attorneys and their clients throughout New Jersey and nationwide.

If you need financial assistance for your case, contact Triumph Legal Funding today at (973) 362-3500 or apply online.