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Car Accident Lawsuit Loans in The Bronx, NY

Posted on by karan k

Car accidents are a leading cause of injuries and fatalities in the Bronx, NY. If you or a loved one has suffered personal injury as a result of a motor vehicle accident, it can be a time-consuming process to receive the settlement from the litigation. In this situation, you can apply for a lawsuit loan for your car accident case, which will help you with medical and household expenses till you receive the settlement amount.

Steps to get money before settlement in the Bronx, NY

Lawsuit loans in the Bronx can be easily obtained when you reach out to a dedicated lawsuit funding company. A simple 3-step process to apply for an advance on lawsuit settlement is as follows:

  • Apply for the pre-settlement loan with no credit checks
  • Discuss your motor vehicle accident claim with your lawyer
  • Receive lawsuit cash advance directly in your account upon approval

Your pre-settlement funding company will send a DocuSign contract to you and your lawyer. Once you sign and execute the contract, the lawsuit loan provider can wire transfer the funds to your bank account directly. They may also send you an overnight check or even pay via Western Union, depending on your preference.

State law regarding lawsuit loans in the Bronx, NY

According to the New York State Bar Association, attorneys are not allowed to provide legal funding directly to the plaintiff. However, they can assist their clients to obtain a lawsuit cash advance from third parties.

Previous motor vehicle accident cases in the Bronx, NY

In a prominent motor vehicle accident case, the individual was traveling in a bus, where the driver had to apply the brakes all of a sudden. As a result, the person fell to the floor and suffered a herniated disc on the neck that required surgery. Although the bus company tried to make it appear as if the person was drunk at the time, the jury finally awarded the plaintiff a settlement of $1,525,000.

In another case, a 74-year-old woman was crossing the street at Fordham road in the Bronx, NY when a car struck her. The car operator testified that the plaintiff had the right of way as she was not on the crosswalk, and as a result of jaywalking. The woman suffered a fractured fibula and humerus, which required surgery. The jury awarded the woman a $700,000 verdict.

Statistics on motor vehicle accident cases in New York City

On average, 292 fatalities related to motor vehicle accidents occur in New York City each year. There are 6,207 hospitalizations in NYC owing to motor vehicle accidents every year, and emergency department visits are 106,612 every year in NYC.  

Average time to get a lawsuit loan in the Bronx, NY

The average time to get money before settlement (legal funding) in the Bronx, New York is between 24 and 48 hours. In some cases, the approval process can take more or less time depending on certain factors.

Factors delaying getting the lawsuit loan

  • If the case is more complex the lawsuit loan approval process may take more time. Motor vehicle accident lawsuit loans generally get processed quickly. With that said, if there is an additional factor, such as product liability, it can complicate the process.
  • Not providing information to the attorney as quickly as possible can also delay the loan approval process.

Factors expediting loan approval

  • Providing clear evidence of the defendant being responsible or at fault for the plaintiff’s injuries.
  • These can include police reports, medical reports, and incident reports.

Dangerous roads and intersections in the Bronx, NY

If you live in the Bronx, NY, there are certain intersections and areas that are known to have the highest cases of motor vehicle accidents. It’s vital to be cautious and aware of these intersections so that you can avoid accidents of any magnitude. Some of the most dangerous intersections in the Bronx, NY include:

  • Bronx River Parkway and East 177th Street
  • Cross Bronx Expressway and Jerome Avenue
  • Jerome Avenue and Clifford Place
  • University Avenue

Major causes of motor vehicle accidents in NY

There are a few major causes that contribute to the rising cases of motor vehicle accidents in New York. These include driver inattention or distracted driving, excessive speeding, following another vehicle too closely, driving while impaired or intoxicated, inability to yield to pedestrians, failure to stop at signals and red lights, and improper passing or lane changes. In certain instances, if a driver backs up unsafely, that can also cause an accident.

Hospitals and medical centers in the Bronx, NY

If you or a loved one has suffered a motor vehicle accident in the Bronx, NY, either as the driver or the passenger, it’s crucial to receive timely medical help. You can receive treatment at some of the major hospitals in the Bronx, NY such as:

  • Bronx-Lebanon Hospital Center
  • Calvary Hospital
  • Albert Einstein Jack D Weiler Hospital
  • Eathar Saad
  • St. Helena Hospitals

The cost of healthcare in New York

The average cost for health insurance in New York is $700 a month. On a yearly basis, this translates to around $8,000 for an individual. The state insurance marketplace provides affordable health insurance in New York.

Based on this, if your income is below the federal poverty level, you can apply for Medicaid. With that said, healthcare costs in New York remain one of the highest compared to other states in the US. In fact, healthcare costs in the state are $1,910 per person above the national average.

Choose competitive lawsuit funding from Direct Legal Funding

New York has one of the highest healthcare costs compared to other states in the US. If you are pursuing litigation towards your motor vehicle accident settlement, it could take several months or even years. During this time, your medical bills, household expenses, and other costs can add up exponentially. Timely financial support can provide much-needed relief in such a situation.

At Direct Legal Funding, we provide loans on pending lawsuit settlements in a hassle-free manner. Our loan application process is swift, and we may be able to deliver the money to you within as little as 24 hours after approval. You can complete our online application form or call us at 866-941-5588 to get started today!

Nursing Home Abuse Lawsuit Loans in The Bronx, NY

Posted on by karan k

Nursing home abuse in the Bronx, NY typically occurs due to negligence of the staff or management in a long-term care facility. If you or a loved one has gone through such an experience, it can be a painful process to deal with the fallout. The litigation for nursing home negligence lawsuits itself can be complex and lengthy.

Meanwhile, how do you sustain ongoing medical bills and expenses related to the home? You can easily support existing bills and expenses by choosing lawsuit settlement loans in The Bronx. These loans allow you to get money before settlement, and do not require credit checks.

Common types of nursing home abuse

The most common type of nursing home abuse is through general neglect. It occurs when elderly patients in nursing homes do not get the kind of attention and care from nursing home staff. Typical instances of general neglect include denial of basic necessities such as food, water, exercise, medical attention, and supervision. There can also be repercussions to severe neglect, such as bedsores, bone fractures, skin irritations, dehydration, malnutrition, and sometimes death.

How to know if you are eligible for a nursing home abuse lawsuit loan?

There are some common injuries that can occur due to nursing home abuse. If you suffer from any of the following, you may be eligible for a lawsuit loan:

  • Medical malpractice
  • Sexual abuse
  • Mental abuse
  • Dehydration and malnutrition
  • Wrongful death
  • Failure to diagnose proper medication
  • Restraint injuries
  • Falls and fractures
  • Wandering and, as a result, leaving the facility
  • Bedsores

How to receive legal funding in the Bronx, New York for a nursing home abuse case?

Lawsuit funding is not like a home mortgage or a car loan. Legal cash advances are secured by the future settlement you will obtain once you win the case. As such, if you do not win the settlement, you do not need to repay the settlement loan company anything.

The process of getting a lawsuit loan is simple when you apply with a leading pre-settlement loan company. You just need to complete the online application form on the lawsuit lending company website or call them for assistance. The loan provider’s team will review your application. Once your application is approved, you could receive the money in as little as 24 hours. There are several modes of money transfer available for your convenience.

State laws related to nursing home abuse in New York

New York has created a governing document titled “Your Rights as a Nursing Home Resident in New York State and Nursing Home Responsibilities.” This document is available to all residents of New York and provides crucial information about your rights at a nursing home. The complete document is available at www.health.ny.gov.

If you believe any of your rights have been violated, the NY state law provides various options to report a complaint. You can fill out the online complaint form at the State of New York, Department of Health. You can also contact the dedicated hotline for nursing home complaints at 1-888-201-4563 between 8:30 am to 4:45 pm Monday through Friday. Finally, you can also submit the incident reporting form via the Health Commerce System.

State laws regarding lawsuit loans in the Bronx, NY

As per the New York State Bar Association, attorneys are not permitted to provide legal funding to the plaintiff directly. Taking this into account, they are free to assist their clients to obtain a lawsuit cash advance from third parties.

Previous cases of nursing home abuse in NY

One of the most well-known cases involving nursing home abuse occurred in Nassau County, NY. The victim was in his late eighties and was suffering from various ailments, such as dementia. He was labeled as a patient with a high risk of falling. Despite knowing this, the facility did not create a plan to prevent him from falling, nor did they monitor him on a continual basis.

As a result, the victim fell several times and broke his hip, which required him to undergo surgery. He died during the procedure. The court awarded the plaintiff a total of $400,000 in damages, out of which $300,000 was towards compensatory recovery and $100,000 was towards lost services.

Another nursing home abuse incident occurred in Kings County, NY. The plaintiff was an 83-year-old woman who suffered from various ailments such as vascular disease, heart failure, pneumonia, and urinary infections. She experienced dehydration on several occasions within the nursing home, which complicated existing medical conditions, and resulted in her death. The plaintiff received a settlement of $150,000.

Statistics on nursing home abuse in New York

Nursing home abuse cases are varied in New York, with 35% of people being hit or slapped, 17% sexually assaulted, 21% having personal belongings destroyed, and 14% being physically restrained on average. About 60% of nursing home victims are women, and a majority of these incidents happen at the median age of 81 years.

Average time to get a lawsuit loan in the Bronx, NY

Borrowing money from your lawsuit related to nursing home abuse is fairly easy. With a good lawsuit cash advance company, you can borrow money from your lawsuit in as little as 24 hours on average. Certain factors can expedite or delay the process.

Factors delaying lawsuit loan approval

  • Inability to provide evidence concerning nursing home abuse
  • Not providing documentation needed by your attorney

Factors expediting approval

  • Providing all the necessary documentation relevant to the nursing home abuse
  • Communicating with your attorney regularly to understand any new documents that may be required

Get timely assistance in prominent hospitals in the Bronx, NY

If you or a loved one has undergone nursing home abuse, the experience can be devastating. Some cases of nursing home abuse can be fatal too. Timely intervention and appropriate medical treatment are critical. You can receive the due care needed at some of the best hospitals in the Bronx, NY. Leading hospitals in the Bronx, NY include Bronx Lebanon Hospital Center, St. Barnabas Hospital, Montefiore Medical Center, and Calvary Hospital.

The cost of nursing home healthcare in New York

Nursing home costs can vary depending on which area of NY you reside in. For example, in upstate New York, the per day nursing home costs can start from $264, while in the Rochester area it can be $308 per day. In comparison, the Long Island area is more expensive with per day costs starting from $390. 

Get money before settlement for your nursing home abuse lawsuit through Direct Legal Funding

At Direct Legal Funding, we understand the painstaking process of litigation when it comes to nursing home abuse lawsuits. This is why we make the process of getting a lawsuit loan easy for you. You can simply apply online or contact us at 866-941-5588 to quickly receive low-interest lawsuit funding.

Police Brutality Lawsuit Loans in The Bronx

Posted on by karan k

Police brutality refers to when a police officer mistreats a civilian using their powers. There can be several types of police brutality such as:

  • Threatening
  • Verbal abuse
  • Assault and battery
  • False arrest
  • Intimidation
  • Harassment
  • Murder and attempt to murder
  • Racial comments
  • Rape

If you or a loved one has been a subject of police brutality, receiving the settlement amount can take several months, or years. In the meantime, medical bills, home expenses, and other costs can add up. You can get peace of mind regarding your finances with the help of a lawsuit loan in The Bronx.

How to obtain a police brutality pre-settlement loan in the Bronx, NY

When you choose a hardworking and proven lawsuit funding company, the process to receive a settlement loan gets much easier. All you would need to do is complete the company’s online application form or simply give them a call so that a loan specialist from the company can guide you through the process.

It may not take more than five minutes for the entire process, including the submission of documentation for verification. Once your lawyer provides the necessary information to the lawsuit cash advance provider, you can expect to receive your loan approval in about 24 hours.

State law regarding lawsuit loans in the Bronx, NY

Currently, New York does not have any specific regulations or laws that impact the disbursement of pre-settlement loans within the Bronx, NY. As per the New York State Bar Association, attorneys are not allowed to provide funding directly to the plaintiff. Moreover, they can assist their clients to obtain a lawsuit cash advance from third parties.

Previous cases of police brutality in NY

New York has a high number of police brutality cases. One of the major legal cases involved the Diallo family who lost their son Amadou to police brutality, wherein he was shot 41 times by members of the New York City Police Department’s Street Crimes Unit. It was one of the most high-profile cases related to police brutality in New York. The City of New York ultimately had to pay the Diallo family a settlement of $3 million. 

Statistics on accidents and injuries related to police brutality in the Bronx, NY

During a 5-year period, 11,404 claims were filed related to police brutality in NY. Over half of these claims involved payments between $5,000 and $25,000. The largest settlements related to police brutality cases were $1 million or more. The amount (related to large settlements) was $190 million – out of the total $384 million that was paid for such cases.

Leading causes of police brutality in the Bronx, NY

There are three major causes of police brutality that have been observed in the Bronx, New York over the years:

  • Racial profiling
  • Corrupt law enforcement
  • Inadequate police training

Racial profiling is a major cause of police brutality, especially among minorities such as Hispanics and African Americans. Corruption among law enforcement officials can also contribute to police brutality cases being hushed up. Poor training can often lead to mistrust among police officers, which can also contribute to police brutality against innocent civilians.

Average time to get a lawsuit loan in the Bronx, New York

With an experienced low-interest pre-settlement funding provider, you can complete your loan application process online in just five minutes, and receive the lawsuit cash advance in your account in about 24 hours. But the actual loan approval time can vary depending on a few facts.

Factors that can delay getting the lawsuit loan

  • Not providing additional information related to injuries and damages. This documentation can include case files and medical bills.
  • Not communicating with your attorney on time, which can cause delays in providing the documents to the lawsuit loan company.

Factors that can make the process quicker

  • Providing all the concerned information and documentation related to the police brutality, such as incident reports, medical reports related to your injuries, and your case file.
  • Communicating with the lawsuit loan company and your attorney regularly to understand the need for any additional documentation.

Hospitals and medical centers in the Bronx, NY

If you or a loved one has been the victim of police brutality in the Bronx, NY, timely medical intervention is crucial to mitigate injuries. You can receive treatment at any of the hospitals or medical centers in the Bronx, NY. Some of the well-known hospitals and medical centers in and around the Bronx, NY include:

  • Calvary Hospital
  • Bronx-Lebanon Hospital Center
  • St. Helena Hospitals
  • Albert Einstein Jack D Weiler Hospital
  • Eathar Saad

Cost of healthcare related to police brutality in the US

Police brutality in the US contributes to major healthcare expenses among victims. The majority of healthcare expenses in such cases are related to physical injuries and sometimes death, expenses related to psychological stress and trauma, and sometimes disabilities which can result in loss of employment and mounting medical expenses. These expenses can run into thousands of dollars.

Get an advance on lawsuit settlement with Direct Legal Funding

Police brutality affects thousands of innocent civilians in the US each year. Such incidents can leave victims with severe injuries and can sometimes be fatal. The major victims of such incidents remain people from minority communities such as African Americans and Hispanics.

The physical injuries apart, the psychological trauma of such incidents can also result in a significant rise in medical bills, especially when psychiatric help is needed. In addition, if a person has suffered a disability due to police brutality, which resulted in a loss of job or income, it can further aggravate expenses as getting another job in time may be difficult. If timely financial assistance is not provided in the interim, it can be demoralizing for the affected family.

In such cases, Direct Legal Funding can help you get access to the funds you need. We offer hassle-free lawsuit loans available in just 24 hours. We don’t need any credit checks or financial assets as collateral.

The process of applying for pre-settlement funding with us is easy. Once you make the application, our team will revert to you quickly and discuss your case. Get started today by completing our online contact form or call us at 866-941-5588.

How Do I Get a Lawsuit Loan in The Bronx, NY?

Posted on by karan k

As long as you choose a top-rated lawsuit loan company in the Bronx, NY such as Direct Legal Funding, getting a lawsuit loan is simple, fast, and easy. Selecting the best lawsuit loan provider is the first and most important step you must take. Once you have made that choice, the rest is easy.

With a leading lawsuit loan company such as Direct Legal Funding, you can simply fill out their online application form available on their official website and get ready to receive the funding. It will hardly take five minutes to complete the entire process, including the submission of documentation for loan verification.

If you need help, you can call up the lender’s office, and one of their experienced loan specialists will guide you through the application process. Once the lawsuit loan company receives the required information from your lawyer’s office, they will be able to approve your loan and disburse funds within as little as 24 hours.

A Quick 3-Step Process to Obtain a Lawsuit Loan in Bronx, NY

Each lawsuit loan company may have its own policies and procedures regarding the loan application, approval, and release of funds. Your goal should be to pick a dedicated and reputable lawsuit loan provider that has simplified this process to make it quick and easy for clients to receive cash.

With Direct Legal Funding, you can get a lawsuit loan in a simple 3-step process as follows:

  1. Fill out the online application form with no credit checks.
  2. Share all the details with your attorney so they can provide the necessary information to the lender.
  3. You receive the money from Direct Legal Funding upon approval.

You and your attorney will be required to sign a DocuSign agreement contract, which Direct Legal Funding will send over. Upon receipt, the company will wire transfer the funds to your bank account, mail an overnight check if you want, or even pay through Western Union if you prefer. The process is designed to help you receive the money when you need it, and the way you need it.

Helpful Tips for a Smooth Process to Obtain a Lawsuit Loan

Once you have decided to apply for a lawsuit loan with a trusted company such as Direct Legal Funding in the Bronx, NY, you should follow these simple tips to receive the funds as fast as possible:

  • Discuss the claim with your attorney and keep them informed about your plan to obtain a lawsuit loan.
  • Keep your attorney information at hand when you fill out the online application form or place a call to a loan specialist for help.
  • Attorney information should include: Full name of the law firm, phone number (with area code), firm’s email id, and name and email id of the case manager or paralegal who is handling your case.
  • Keep other relevant case-related information and documents ready for submission for verification purposes. This will speed up the process and the company’s specialists will be able to quickly evaluate the strength of your case.

The Bronx, NY Motor Vehicle Accident Data

Car accidents are the leading cause of accidental fatalities in New York as well as one of the major causes of serious bodily injuries. Nearly 17% of all auto accidents in New York City occur in the Bronx. In 2021, the statistics show that 17,047 automobile crashes took place in the Bronx, resulting in 8,744 injuries and 43 deaths (apart from 8,260 cases involving property damage).

In 2021, pedestrians in the Bronx suffered as many as 1,795 accidents. Almost all of these accidents resulted in bodily injuries or fatalities. Pedestrians constituted the largest burden of traffic fatalities in the Bronx at nearly 48%, and about 15% of the accident victims who suffered bodily injuries were pedestrians. The Bronx, NY also witnessed 240 motorcycle crashes and 763 bicycle accidents in 2021.

Slip and fall (aka premises liability) cases are also common in the Bronx. According to the New York Department of Health, falls are the major cause of injuries and hospitalization among both children and adults. Falls are also a leading cause of fatality and injury among adults in the age group of 45 and above. Among seniors in the Bronx, slips and falls often result in injuries that lead to temporary or permanent disability and/or prolonged hospitalization or death. 

Construction workers in the Bronx face the highest risk of falling from a height and sustaining severe injuries. Other industries in and around the Bronx with a high incidence of slip and fall injuries include retail, wholesale, transportation, and manufacturing. When it comes to workplace injuries, the data from the Bureau of Labor Statistics (BLS) shows that in 2020 alone New York had 129,000 workplace injuries and illnesses.

Lawsuit Funding Laws and Regulations in the Bronx, NY

New York at present does not have any specific laws or regulations that may affect the disbursement of lawsuit loans in the Bronx or other areas in the state. Stemming from this, a bill is pending in the state (NY Assembly Bill A1270) which seeks to regulate the legal funding industry and impose an upper limit on the annual interest rates at 36%.

According to the rules of the New York State Bar Association, attorneys are not permitted to loan funds to the plaintiffs directly. Moreover, they are free to assist their clients to obtain cash advances for lawsuits from third parties.

In the past, there have been instances where New York courts addressed cases related to lawsuit lending. In one of the cases, a defendant in a New York personal injury case declined to pay the full settlement to the plaintiff according to the settlement agreement on the grounds that the plaintiff had obtained legal funding. The defendant claimed that receiving this type of legal funding was “illegal.” The defendant’s claim was rejected by the courts.

Get Cash within 24 Hours at the Most Competitive Rates from Direct Legal Funding

Fast turnaround times and highly competitive interest rates set Direct Legal Funding apart from most others in the industry. Clients trust us for our commitment to serving them with a simplified lawsuit loan approval process backed by dedicated customer service. With Direct Legal Funding, chances are that you could have your case funded within just one business day. Our interest rates can be as low as 2%.

You can APPLY NOW using the company’s free online application form. Our specialists will reply as soon as possible and help you receive your much-needed funds. For any questions or to request more information, call us at 866-941-5588 or contact us online.

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.