Each year a large number of construction workers suffer from a personal injury in Brooklyn, New York. The construction industry provides direct or indirect employment to millions of people. Based on this, working on a construction site remains one of the most dangerous jobs in the US, with more than 150,000 construction accidents taking place each year.
It may makes sense to take a lawsuit cash advance on your construction injury, as it may take time to legally obtain a settlement. During the intervening period, your bills are going to pile up, so why not use the money you have coming to you?
How to receive construction accident lawsuit funding in Brooklyn, NY?
Getting access to a lawsuit cash advance in Brooklyn, NY can be a hassle-free process as long as you work with a highly rated legal funding provider. You just need to complete an online application form at the pre-settlement funding provider’s website. Their team will quickly review your application. Once you are approved you and your attorney will be sent an agreement to sign, after the contract has been signed by both you and your attorney your money will be released. This process generally takes less than 24hours.
New York laws regarding lawsuit loans
In New York, lawsuit loans are often called pre-settlement funding. They are completely legal and are considered a non-recourse type of loan. That means the future settlement is used as collateral on the loan. In case you do not win the settlement, you do not have to pay anything to the lawsuit loan company.
New York not only allows settlement loans but also has laws that protect construction workers from risk. New York labor laws require construction companies to inspect every site and implement safety measures. The New York State Bar Association stipulates that attorneys are not allowed to provide funding to the plaintiff directly. However, they may assist their clients to obtain a lawsuit cash advance from third parties.
Past cases in New York related to construction injury
A recent case involved a construction worker in the Bronx, NY who suffered wrist injuries on account of a defective saw that did not have a safety guard. The accident left the victim with several lacerated tendons on the left hand, which resulted in CRPS or Complex Regional Pain Syndrome. The client received a settlement of $11,500,000.
In another case, a construction worker fell off a slippery dump truck ladder and was left impaled on an uncapped vertical bar. The victim received a $3,975,000 settlement.
Statistics on accidents and injuries in New York
The fatality rate from construction accidents is higher in New York compared to the national average. In 2020 alone, construction-related deaths accounted for 22% of all worker deaths in NYC and 24% of all worker deaths in New York State. The national average is 21%. These statistics are as per a report from the New York Committee for Occupational Safety and Health.
According to the New York City Health Department Bureau of Vital Statistics, fall accidents comprised 58% of all fatal construction worker injuries between 2007 and 2014. Falls from scaffolding contributed to 25% of the deaths, while ladder falls contributed 16%, and falls from roofs contributed to 11% of deaths.
The average time it takes to get a lawsuit loan in Brooklyn, NY
A lawsuit cash advance is much easier to get compared to a car loan or a home mortgage. Since this is not a traditional type of loan, the process is quicker. There is no need for a credit check or any financial assets. Once you make an application to the lawsuit loan company, the team reviews your application. If approved, you can get the money in 24 to 48 hours on average.
Factors that could cause lawsuit funding approval to take longer than usual
Usually, lawsuit funding may take anywhere from one to two days. Furthermore, in some cases, it can take longer. These include factors such as:
- Complexity: Some cases such as motor accidents or slips and falls are processed quite routinely and quickly. But other cases may be more complex in nature, such as ones that include product liability. The risk factor needs to be evaluated in such cases to make a proper assessment.
- Lack of information: Getting information about a case quickly and efficiently plays a big role in how quickly you can receive the lawsuit loan. If sufficient information about the case is not provided, it can cause delays.
Factors that can expedite the lawsuit loan approval process in Brooklyn, NY
- Providing all the necessary documentation related to the case is critical to quick approval.
- Providing documents such as incident reports, medical reports, and insurance information, are critical.
Names of hospitals/medical centers in NY
If you have suffered a construction accident, then timely medical aid is essential. You can receive proper medical treatment from any of the major hospitals located in NY. Some of the prominent hospitals and medical centers in NY include North Shore University Hospital, Montefiore Medical Center, Long Island Jewish Medical Center, and University Hospital at Stony Brook.
The cost of healthcare in Brooklyn, NY
The per capita healthcare spending in New York ranks among the highest in the US. Private healthcare spending has grown faster compared to public healthcare spending. The state’s healthcare expenditure runs into hundreds of billions of dollars every year.
In recent decades, healthcare costs have exponentially increased in New York. Health spending is projected to be the second largest segment in the state budget, after education. In the last decade alone, the cost of employer-sponsored family health insurance in the state increased by 92%.
Reach out to Direct Legal Funding for quick, easy, and affordable pre-settlement loans in Brooklyn, NY
Construction accidents are a major cause of deaths and injuries in Brooklyn, NY. If you or someone you love has sustained a construction-related injury, getting the rightful settlement can be a painful and tedious process. In the meantime, you would have to deal with medical bills, and house-related expenses, not to mention the painful process of recovery.
Receiving the settlement amount can sometimes take months or even years. Instead of waiting interminably for that amount to come through, you can choose a lawsuit loan to meet your expenses.
At Direct Legal Funding, we offer low-interest pre-settlement funding in as little as 24 hours, and we do not require any credit checks. If you do not win the settlement case, you do not need to pay us anything. The process of application is easy. So, get started today by applying for a loan online, or give us a call at 866-941-5588.