Waiting for a PG&E Settlement? Apply for a California Wildfire Lawsuit Loan and Receive Pre-Settlement Funding Today!
Direct Legal Funding provides pre-settlement loans for victims who have been impacted by one of the California wildfires that were caused by Pacific Gas and Electric (PG&E). Over the past several years, PG&E – induced wildfires have burned millions of acres throughout the Golden State, destroying thousands of homes and causing billions of dollars in damages.
Wildfire victims may be entitled to damages for:
- Medical expenses.
- Repairs for damaged or destroyed property.
- Temporary relocation expenses.
- Mortgage payments.
- Business interruption costs.
- Other personal expenses.
If you are one of the countless individuals who have been negatively impacted by a PG&E California wildfire, it is likely that you have been very frustrated by the slow process in which pre-settlement funds are being dispersed. This is where we come in.
At Direct Legal Funding, we do not believe you should have to wait for months or even years to get the compensation that you are entitled to. And we are here to provide a lawsuit advance that puts the money in your hands within a matter of days. There are no credit checks, and all you need to qualify for pre-settlement funding is to be working with an attorney.
Here are some of the main benefits of a PG&E wildfire lawsuit loan through DLF:
- Simple and straightforward lawsuit funding application process.
- No credit checks or collateral required.
- Low interest rates that are among the most competitive in the industry.
- Non-recourse funding, meaning you only have to repay the loan if you receive a PG&E wildfire settlement.
- Quick approvals with funds available often within 24 to 48 hours.
Call us today at 866-941-5588 or apply online to get started on your PG&E lawsuit loan application.
Billions Still Owed to PG&E Wildfire Victims
PG&E’s negligence in causing the California wildfires was so widespread that the company was forced into bankruptcy. On January 29, 2019, PG&E filed for Chapter 11 reorganization. As part of the bankruptcy settlement, the Fire Victim Trust was set up to review damage claims, issue determination notices for eligible claimants, and disperse funds for both economic and non-economic damages that were caused by the fires.
This may sound encouraging, but there is a big problem. During the two and a half years since PG&E emerged from Chapter 11 bankruptcy, victims have yet to receive even half of the compensation that they are owed by the utility.
As of the end of 2022, the Fire Victim Trust has awarded more than $14 billion in determination notices. However, less than $6 billion has been paid out to victims so far. This means that PG&E California wildfire victims are still owed more than $8 billion in compensation for the extensive losses that they have suffered.
Why is it taking so long for PG&E wildfire victims to get paid?
The answer to this question is somewhat complicated, but what it boils down to is this. In a twist of cruel irony, the ability of California wildfire victims to be made whole is tied directly to the success of the company that cause them harm in the first place.
The reason for this is that PG&E is raising the money to fund the Fire Victim Trust by selling shares of its stock to the public. So, in order for the utility to raise the funds it needs to pay victims, it needs to keep the price of its stock from cratering. And this is where it gets tricky.
The main factor that allowed the stock to rebound was PG&E being accepted back onto the S&P 500 and the credibility that this inclusion fosters among institutional investors. Utility stocks are a favorite among many large investors because of their perceived stability and steady dividend payouts.
Including the latest two blocks of shares sold, PG&E has sold a total of 170 million shares, which accounts for about 36% of the 477 million shares that it has available to sell in order to raise money for its Fire Victim Trust. This leaves them with about 307 million shares left to be sold.
PG&E sold its latest blocks of shares at a price of around $15 per share, and the company’s stock has maintained this price level since coming back to the S&P 500. But the challenge going forward is to sell off their remaining 300+ million shares at hopefully higher levels than the previous shares sold for.
To accomplish this, PG&E will need to sell its stock in smaller chunks, certainly no bigger than the 35-million share chunks that were recently sold. The reason being that if a company sells too much of its stock at once, it could create unstoppable downward momentum on the price, causing short-sellers to join in on the action and potentially resulting in the share price bottoming out.
A scenario like this is bad for everyone involved, but especially for the California wildfire victims. They need the shares to sell at as high a price as possible in order for them to be paid in full (or as close to full payment as possible).
For this to happen, victims are going to need to wait for a while to receive their money. At the current rate in which they are selling off stock and disbursing funds to victims, we are probably looking at sometime in 2024 at the earliest before the Fire Victim Trust is anywhere close to fully funded.
In the meantime, victims can apply for a California wildfire lawsuit loan through Direct Legal Funding.
Recommended Attorneys for PG&E Wildfire Lawsuit Representation
At Direct Legal Funding, we understand that finding an attorney that has specific experience representing PG&E California wildfire victims can be difficult. To help point you in the right direction, here is a list of the top 10 attorneys that we recommend:
- Watts Guerra
- Gibbs Law Firm
- Dixon Diab & Chambers, LLP
- Barr & Mudford
- Krause and Kinsman Law Firm
- Matthews Law Firm
- Law Office of Paul Mankin
- Kabateck LLP
- McNicolas & McNicholas, LLP
- Singleton Schreiber
Of course, you are free to work with whichever attorney you feel most comfortable with, but if you have not found anyone yet, we recommend inquiring with some of those on this list.
Don’t Want to Wait for Your PG&E Wildfire Lawsuit Settlement? Contact Direct Legal Funding Today
If you or someone close to you was impacted by the California wildfires that were caused by PG&E, you may be getting tired of waiting to be compensated. Maybe you have received only a part of your funds, but you have a lot more coming to you.
Whatever your situation, Direct Legal Funding is here to help! As long as you filed a valid proof of claim before the deadline and you are working with a qualified attorney, we can help you obtain pre-settlement funding for a portion of the amount you are waiting for.