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Tag: lawsuit loan

Lawsuit Loans for Car Accidents in El Paso, Texas

Posted on by karan k

Getting involved in a car accident in El Paso, TX can be a traumatic experience. The resultant pain and suffering, medical expenses, and loss of income can worsen the situation. You might need pre-settlement financial help to cover the mounting medical costs and general household expenses when you are injured and away from work. El Paso car accidents can inflict serious physical and emotional damage, and you may need a cash advance on your car accident case in this time of crisis.

What is a lawsuit loan for car accidents in El Paso, Texas?

A personal injury lawsuit loan in El Paso, TX is available to those involved in an auto collision occurring due to another party’s negligence. A pre-settlement litigation loan isn’t really a loan in the technical sense, but a cash advance that will be based on your estimated future settlement value.

Car collisions can be seriously damaging and expensive. The settlement can take years. The longer the prospect of receiving a settlement, the more you might be tempted to accept a lower settlement offer from the at-fault party. In this situation, a car accident lawsuit loan in El Paso, TX gives you the financial support you need to cover your costs while you pursue your maximum rightful settlement.

Statistics related to car accidents in El Paso

In 2020, there were 12,483 car crashes in El Paso alone. As many as 135 people sustained serious injuries, while 55 people were killed in these car accidents. A large number of El Paso crashes were triggered by speeding drivers, or drivers not attentive to the road while driving. Drunk driving also played a role in several of these accidents.

Dangerous intersections located in El Paso

Traffic in El Paso is always too busy, and there is a significant risk of accidents. The far eastern part of El Paso has the highest number of car wrecks. The area around Joe Battle is especially dangerous. The three most dangerous intersections in El Paso, TX area:

  • Montwood and Joe Battle
  • N. Zaragoza and Joe Battle
  • Edgemere and Joe Battle

The Montwood and Joe Battle intersection was cited as the most dangerous intersection across all of Texas. This was based on a study conducted by a law firm in Houston after analyzing four years of car collision data obtained from TxDOT.

Leading medical centers and hospitals in El Paso, Texas

  • Medical center at Las Palmas
  • Cobalt Rehabilitation Hospital, El Paso
  • The LTAC Hospital, El Paso
  • Foundation Surgical Hospital, El Paso
  • Highlands Rehabilitation Hospital
  • Providence East Campus & Tenet Healthcare Hospitals

Key reasons for car accidents in El Paso, Texas

Distracted driving

The number one reason for car accidents in El Paso is distracted driving. Distracted drivers do not have their full attention present on the road. They could be focused on their cell phone, a co-passenger, or even a message on a billboard. Remember, if you are driving, your main job is to ensure that you reach your destination safely. Distracted drivers have usually been driving long distances and believe they can multitask. Never allow yourself to believe this mindset.

Speeding

Many drivers rush past us on highways, even at higher speeds than us. People often drive 15, 10, or even 20 miles over the posted speed limit. The faster the speed, the lesser will be the time to react. If you happen to be driving 20 miles over the speed limit, preventing a car accident would be quite difficult.

Drunk driving

Persons who drink and drive represent a danger not just to themselves but also to others around them. Cognitive functions and senses are dulled when you drink. Reaction times get slower, and your decision-making abilities get compromised. Make sure to find someone sober to take you home if you are drunk.

Reckless driving

Examples of reckless driving include cutting other drivers off, tailgating, and weaving in and out of traffic. All of these can cause severe car accidents. If you see someone driving this way, keep a distance and be careful when you drive. You cannot make a reckless driver drive safely. So, it is best to protect and keep yourself safe. Based on this, you should report the driver.

Bad weather

Bad weather such as snowstorms or heavy rain can create dangerous situations for driving. Water can create slippery roadways, and your car could slide without any warning. If you are in a rainstorm, be sure to drive more carefully. You can have a misconception that your car tires are adhering properly to the ground, but on a slippery road, there is no telling. Be sure to drive more slowly. With cold weather and snow, the road could form ice on it, and this could cause the car to slide if you need to apply the brakes suddenly.

Running intersections

Running through stop signs and red lights can be a major reason for car accidents. Red lights indicate the driver has to stop. Yellow light means you need to slow down, and not immediately speed up waiting for the light to turn green. Many people get tempted to run stop signs in the vicinity of their homes, but you don’t have to do this. You can wait 10 seconds more if it means saving your life.

Improper turns

Make sure to be in the proper car lane, according to your destination of travel. If you are in the straight lane and want to take a turn, be sure to keep driving straight. You can turn around the block later, in a parking lot or someone else’s driveway. That is much safer compared to cutting lanes.

Get your lawsuit cash advance from Direct Legal Funding until your El Paso, TX car accident settlement comes through

Car accidents can be a harrowing experience. Settlement durations can vary from months to even years. You don’t have to keep waiting without money until you receive your rightful settlement. At Direct Legal Funding, we try to provide you with El Paso, car accident settlement loans in as little as 24 hours, with no credit checks needed. No need to wait. Just fill out our online application form or call us at 866-941-5588 for pre-settlement funding assistance.

How Long Does It Take to Get a Lawsuit Loan in the Bronx, New York?

Posted on by karan k

Compared to an auto loan or a mortgage loan, obtaining a lawsuit loan in the Bronx involves a much easier and quicker process. Lawsuit loans are not loans in the technical sense. So, in general, obtaining them is much simpler. People sometimes also call these “settlement loans,” “cash advances,” or “pre-settlement funding.”

Direct Legal Funding offers quick turnarounds

Direct Legal Funding is recognized for its short turnaround time for lawsuit loans backed by prompt and reliable customer service. With Direct Legal Funding, the process of getting a lawsuit loan is much simpler than you might think. Many of the cases are funded within just one business day, and most applicants can expect to be approved and receive cash in as little as 24 hours.

The time period from application to receiving funds

A lawsuit loan or pre-settlement funding is essentially a non-recourse type of loan. This means if you don’t win the case (i.e., you don’t receive a settlement), you don’t need to pay back this loan. For this reason, there is generally no need for a credit check during the application. Direct Legal Funding does not require any credit history and does not perform any credit checks.

The value of the lawsuit loan is decided based on the approximate value of your case and your own cash requirements. Once you make the application for funding, the company reviews the case documents received from your law firm. They will probably conduct a short telephone interview with you as well. Once approved, you get your money in 24 to 48 hours in most cases.

Options for money delivery

Once you get approved, you should ask the funding company about the different methods they use to send the money. The timeline and cost will depend on the delivery method. So, you can check with the company first before selecting your preferred method.

Wire transfer

This is the quickest way to receive the money. The wire transfer method works by taking the money from the account of the funding company, and then sending it to your account or a relative’s bank account, via electronic transfer. Wire transfers are safe, and you get the money in just a few hours.

Overnight check

Overnight checks are usually sent to a particular address. This can be a residential or a business address. Overnight checks tend to be more expensive compared to wire transfers, but they are a good solution for individuals who don’t have a bank account. Once you get the check in your mail, just cash it at your local store that cashes checks.

US Mail check

This is the slowest method for money delivery, but also the cheapest. It depends on how far you are located from the company’s office. In relation to this, delivery times usually take between 1 to 5 business days. If you are in an emergency financial situation, the snail mail option may not be the best solution.

Note: Direct Legal Funding can even transfer money via Western Union to make the delivery process simpler.

Helpful tips to keep in mind

  • Try to contact your funding company as early as possible during the day. That way, you may be able to get your money on the same day in some cases.
  • Ask your funding company about the best method for receiving money. Factor in the delivery time and price when making a choice – this is the judicious thing to do.
  • Tell your law firm that you want to take a pre-settlement advance. This way, they can arrange necessary documents for the funding company’s review.
  • The sooner the application is made, the sooner you receive the money.
  • The attorney at your law firm should be able to speak to the funding company whenever needed.
  • Keep the case file and necessary information required by the underwriting team.

Documents the lender may ask for:

  • Medical records showing injury
  • MRI or x-ray reports
  • Name of the insurance carrier and policy limits of the defendant
  • Post-op report from surgery
  • Ambulance report
  • Police or incident report
  • Copy of the lawsuit filed, or legal complaint
  • Videos or photos of the incident
  • In case of medical malpractice, an expert report
  • Payoff letter from the previous lender (in case you have received funding previously.)

What factors can delay the lawsuit loan?

In certain cases, lawsuit loans may take up to 2 weeks for processing. It depends on the following factors:

  • Complexity of your case
  • Prior lawsuit loans obtained from other lending companies
  • The amount of funding requested by you
  • Recent bankruptcies, child support liens, or tax liens
  • The amount of time taken by your attorney to send your case file and relevant information

Type of case – how it impacts receiving lawsuit loans

Car accidents are among the easiest cases eligible for approval when it comes to a lawsuit advance. This is because car accidents are well documented compared to other types of cases.

Proving liability

It’s vital that the plaintiff have some evidence showing the other party is responsible for the damages incurred. In relation to this, both liability and extent of damages need to be shown in this evidence.

Police report

In case of a car accident, there is usually a police report. The report will clearly mention which of the parties was the cause of the accident or collision. The police report often contains critical information that is required in the case of a lawsuit advance. Aspects such as the extent of damages, and if it was a minor or major incident, all are recorded in the police report.

Lawsuit loans are fast and easy with Direct Legal Funding

Depending on the nature of the lawsuit, receiving funding can be very easy. You can obtain the funding through Direct Legal Funding. Lawsuit loans help you sail through difficult times, such as during litigation, and also provide you with financial backup until the settlement. It can be very beneficial to get a lawsuit loan to tie you over until your case is concluded.

Direct Legal Funding: A trusted choice for lawsuit loans

At Direct Legal Funding, receiving a lawsuit advance is an easy process. We provide reliable customer service and offer the most competitive interest rates. We don’t require a credit check from you, and there is no obligation to repay the amount until you win the settlement. Apply with us and get your money within just a couple of days in most cases – no hassles!

Apply now using our online application form or call us at 866-941-5588. Our dedicated specialists will revert to you quickly to discuss your funding requirements.

The Cost of a Lawsuit Loan in The Bronx

Posted on by karan k

You can get much-needed cash for living expenses and debts with the help of a lawsuit loan in the Bronx, New York. Your attorney can negotiate to get you the maximum available settlement as per law, and the amount of the loan is based on the expected settlement amount.

If you are approved, you do not need to repay the cash advance until you win the case. In other words, if you lose the case, you don’t need to make a repayment. But it’s crucial to be aware of the costs associated with a lawsuit loan if you win a settlement.

How are the fees for Bronx lawsuit loans calculated?

Individual terms and conditions

Only about 20% of the states in the US have passed legislation that imposes disclosure requirements and interest rate caps from companies providing services for lawsuit loans in their jurisdictions. Therefore, companies in most jurisdictions can create their own terms and conditions, which also includes fees and costs on lawsuit loans.

Explanation of fees

Companies that provide litigation loans usually charge you an upfront fee. These include things such as application fees or origination fees similar to fees associated with a conventional loan from a lending institution. Make sure to ask the lender to explain all the fees and amounts when you make your application. Check if they will charge you interest on these fees. Review all the information sourced from your attorney.

Things to know

To determine the costs associated with a lawsuit loan, make sure to note the following aspects:

  • Advance amount required
  • Is it a simple or compound interest?
  • Rate of interest
  • Time needed to settle the case
  • All fees that are included: processing fees, application fees, review and underwriting fees, delivery fees, and origination fees

An example to understand the fees

We attempt to do the math here, briefly. The cost will increase the greater the amount received in a lawsuit loan, and the longer the time that is taken to repay. This is because of the rate of interest that is charged by the lending company.

You can calculate the simple interest estimate by multiplying the cash advance amount by the annual interest rate. Then, multiply this number by the time duration from the advance taken to repayment. For instance, consider that the total amount of money needed for medical bills, rent, groceries, and living expenses is $30,000. The legal funding organization will offer it at a simple interest rate of 4%.

If it takes 18 months to finish the case settlement, you owe the legal funding organization $51,600 from all the settlement proceeds. The calculation is made as follows: $31,000 x 18 x 0.04 = $21,600. The deducted amount from the settlement would be a $30,000 advance amount plus a $21,600 interest amount, which totals $51,600.

Types of fees from lawsuit funding companies

You may find that your lawsuit loan includes a partial or full list of the below-mentioned fees:

  • Broker fee or processing fee
  • Underwriting fee
  • Origination fee
  • Fee for document preparation
  • Case management fees
  • Monthly payment deferring fees
  • Hidden fees
  • Delivery fees
  • Upfront application fee

Many of these fees are similar to convenience fees, which represent illegal surcharges from merchants to offset debit card transaction processing costs.

How to ask the legal funding company regarding fees?

Most lawsuit loan organizations do not show transparency in their fee structure. Legal expenses and extra costs often manifest as hidden expenses, eventually. To fully understand the fee structure of a lawsuit funding organization, ask them the following questions:

  • What is the full list of fees charged in lawsuit loans?
  • What is the cost of each fee?
  • What is the frequency of applying each fee?
  • How will the lawsuit funding costs and fees be applied?
  • Will the fees be percentage-based or have a flat fee structure?
  • Will further interest rates be applied to the fee charges?

Asking these questions can save you from spending more money than is necessary on lawsuit settlement charges.

Can lawyers lend money to their clients in the Bronx, NY?

When a lawyer is representing a client, they cannot grant any financial aid to their plaintiff. However, a lawyer can certainly help by securing a larger settlement or verdict award on behalf of their client.

Can lawyers assist clients in receiving the Bronx, NY lawsuit loans?

According to the Formal Opinion 2011-2:

“As per Third Party Litigation Financing, there are several ethical issues that can arise for the attorney if the client seeks lawsuit loans from a third-party provider.” In such cases, lawsuit loans can be a valuable source for plaintiffs, and attorneys need to proceed in such matters with caution.

Highest “Pain and Suffering” award in the history of New York

It was during a personal injury lawsuit in November of 2021 that a new precedent was established in the pain and suffering award category in New York. The NY Appellate Division awarded $29 million to a former student at a state high school. The student was disfigured due to a failed chemistry experiment. The plaintiff was 16 years old when the accident occurred and was disfigured so badly that he suffered 3rd-degree burns on both the face and the neck.

The plaintiff spent 2 months inside the burn unit at Cornell, and 3 months in The Children’s Hospital. He underwent multiple skin staples and grafts just to keep the new flesh intact. He had to stay immobilized in a difficult crucifix position for several days. The award is the largest to be ever affirmed for pain and suffering in New York.

Lawsuits filed for the Bronx apartment fire

On January 9th, 2022, a fire engulfed an apartment complex in the Bronx, NY. The apartment complex called Twin Parks Northwest cost 19 people their lives, 9 of which were children. For the remaining 63 injured victims who survived, as well as the loved ones of those who lost their lives, this was the beginning of a journey to recover from the financial, physical, and emotional losses.

If another party is found responsible for this fire, they may be liable to pay the victim both economic damages (such as income loss and medical bills) as well as non-economic damages (such as loss of consortium and pain and suffering). Compensation in this type of case varies depending on the specific circumstances, but it can add up to hundreds of thousands and in some cases millions of dollars in damages that plaintiffs can recover.

Hassle-free experience in lawsuit loans from Direct Legal Funding

Getting a lawsuit loan from Direct Legal Funding is a seamless and smooth process. We require zero repayments until the case is won, and you can be well on your way to receiving funds in just 24 hours. Our team is knowledgeable and friendly and will guide you through all the steps. Contact us today via our online application form or call us at 866-941-5588 to know more.

How to Receive a Lawsuit Loan in El Paso, Texas

Posted on by karan k

It’s easy to get a lawsuit loan in El Paso, TX if you reach out to a dedicated and accomplished service provider such as Direct Legal Funding. All you have to do is complete the online application form or call them on the listed number. The specialists from the company will contact you quickly and provide you with the necessary guidance.

The entire process right from application to submission of documents may only take about five minutes. Upon receipt of the documents from your lawyer, Direct Legal Funding could process your lawsuit loan approval in 24 hours.

Here are the simple steps to apply for a lawsuit loan in El Paso, TX:

Step 1: Choose a lawsuit funding company (preferably a reputable one) and fill out their online application form (you can usually find this on their website). You can also apply by calling them via phone.

Step 2: After you submit your application or after the company representatives speak with you over the phone, they will contact your lawyer to go over the details of your claim. You will receive a response within 48 hours as to whether your application was accepted or denied.

Step 3: Once approved, you and your lawyer will receive an agreement outlining the terms and conditions of the funding. You can likely sign this document electronically (via DocuSign, for example).

Step 4: After the company receives the agreement signed by you and your lawyer, they will release the funds within 24 hours. This is usually done via wire transfer, overnight check, or Western Union, depending on your preference.

Direct Legal Funding will send you as well as your lawyer a DocuSign contract of agreement for execution. After that, they will wire transfer the funds, send you an overnight check, or even pay via Western Union – depending on your preference.

How to qualify for lawsuit loans in El Paso, TX

Lawsuit loans have different qualification criteria depending on the kind of case you have and the policies and procedures of the lender. Most of the leading and trusted lenders in El Paso, TX will follow certain universal criteria for selecting the cases that meet the necessary requirements.

Common factors for the assessment of qualifications include:

  • The plaintiff has to have a lawyer.
  • The kind of lawsuit needs to match the lawsuits acceptable by the lawsuit loan company. Some organizations only focus on personal injury lawsuits, while other organizations also accept other kinds of cases.
  • The plaintiff needs to have a reasonably strong case. Lawsuit loan companies tend to approve applications where more evidence supports the plaintiff’s case for compensation.

Upon your meeting qualification criteria, the lawsuit loan company decides on the loan amount. The amount of the lawsuit loan in El Paso, TX will depend on your personal needs as well as how much settlement might be expected. Make sure to talk to a committed lawsuit loan provider such as Direct Legal Funding in El Paso, TX in order to know which qualifications are needed in your case.

Lawsuit funding regulations, ethics opinions, and laws in Texas

There are no direct laws related to lawsuit loans within Texas. The common law in Texas allows the disbursement of lawsuit loans. Stemming from this, the state does not categorize these as loans. Any communication with a lawsuit loan company is protected under lawyer work-product.

Texas remains one of the few states where an attorney can provide a client with a financial advance to sustain their living expenses. Direct Legal Funding is a leading lawsuit loan provider offering settlement funding to the residents of El Paso and communities throughout Texas.

Case laws for legal funding in Texas

In the case titled Haskell vs. Anglo-Dutch Petroleum Intern, it was found that equity sales and purchases in a legal case are different from the loans based on contingent repayment (lawsuit loans). Most modern lending agreements in lawsuit loans are non-recourse and they are not technically classified as loans in El Paso, TX.

Can an attorney give money to a client in El Paso, TX?

According to the rules of the Texas Bar Association, an attorney can sufficiently cover medical and living expenses for the client. In addition, they may advance or cover litigation expenses.

Statistics of car accidents in El Paso

Crash report data reveals the following to be some of the most common causes of auto accidents:

  • Lack of speed control: 2,701 auto accidents
  • Inattention of driver: 1,516 auto accidents
  • Not yielding right of way when turning left: 655 auto accidents
  • Changing lanes when it was unsafe: 647 auto accidents
  • Failure to yield right during a stop sign: 379 auto accidents
  • Backup without any safety: 352 auto accidents
  • Failure in yielding right of way during a private drive: 294 auto accidents
  • Not paying attention to stop light or sign: 253 auto accidents
  • Drunk driving: 251 auto accidents

Types of cases eligible for lawsuit loans in El Paso, Texas

Car accidents

Car accidents represent the most common kind of personal injury cases in El Paso, TX. To receive a judgment against the defendant and win the case, there should be certain proofs as follows:

  • Another person caused the injuries and the car accident
  • This person did so through reckless behavior
  • The injuries were from the car accident in question

Premise liability or slip and fall accidents

Premises Liability is another common kind of personal injury case in El Paso. Landlords are legally bound to keep the premises free of any hazardous materials so that persons on the property do not receive any injury.

Medical negligence injuries

Medical negligence is also categorized under a personal injury claim. This happens when a healthcare professional or doctor does not provide the correct medical care, and injury or harm falls on the patient.

Construction accidents

Construction accidents have a larger sum of funding compared to other kinds of cases. This is because of how often such serious injuries occur, and that defendants often already have large liability insurance coverage.

Factors that can Delay the El Paso, TX Lawsuit Loan Approval Process

  • Complexity of the case: Some personal injury cases can be more complicated than others, especially if they involve multiple third parties. Since the loan company needs to evaluate all the information to approve or reject an application, it can take longer compared to more cut-and-dried cases.
  • Unprepared attorney or insufficient documentation: To make the approval process go through smoothly, it is imperative that your attorney provides every bit of available information and documentation to the loan company. Failure to do so can lead to unnecessary delays.

Factors that can Expedite the El Paso, TX Lawsuit Loan Approval Process

  • Keep your attorney informed: Before you fill out the loan application, talk to your attorney about it. This will give them the opportunity to get all the documents in order and ready for submission.
  • Be available for the interview: As part of the loan application evaluation process, the company will need to talk to you as well as your attorney. It’s a brief phone interview where they ask you the general details regarding your lawsuit. Make sure you are available to take this call.

Choose Direct Legal Funding for lawsuit loans in El Paso, TX

When you make a lawsuit loan application with Direct Legal Funding, you are dealing with a team of specialists who are committed to getting your work done efficiently. Our processes are streamlined and simple. Whether you call us or contact us through our online form, our representatives will assist you in the best possible manner.

Choose us because of:

  • Our professional representatives who understand your requirements
  • Our dedicated team of experienced underwriters
  • Our efficient, attentive, and knowledgeable staff
  • Our highly competitive low-interest rates
  • Years of expertise and knowledge
  • Large network comprising funders
  • Our guidance about all the paperwork
  • Expertise in handling attorney and client relationships

If you are seeking a personal injury lawsuit loan in El Paso, Texas, contact us today. Once you apply, we take care of all the legwork after that. Our underwriting team encompasses the most qualified lawyers who have thorough legal knowledge and experience in various states in the US.

We provide funding for many different kinds of cases. Our team also works with you to customize your lawsuit loan according to your unique requirements. Apply now through our online form or call us at 866-941-5588.