When you’ve been injured because of the negligence of another party, it is always a highly stressful situation. You can alleviate some worry during this time in your life by choosing slip and fall lawsuit funding. Believe it or not, slip and falls are more common than you might imagine, which has created a need for lawsuit funding. Why? Read on to find out all the details on slip and fall lawsuit funding.
Why does slip and fall lawsuit funding exist?
To begin, lawsuits are not cheap. Slip and fall lawsuit funding works to bridge to gap between court and getting a settlement. The money that you get from lawsuit funding goes towards paying for things that are critical to your court case, as well as your basic needs. For example, lawsuit funding will be used to help offset court costs. These can be things like attorney fees, transportation to and from court, and childcare while you attend court. The funds can also be used for items that may be related to injuries you sustained during your accident. These can be things like making your home wheelchair accessible, or finding someone to care for you while you are injured. Finally, funds can be used for every day living expenses if you are unable to work because of your injuries.
Why choose lawsuit funding?
Simply put, lawsuit funding is a way to help you get back on your feet after an accident. Using the funds for things like the items described above is really what this kind of funding is designed for. Rather, you will probably regret it if you spend your lawsuit funding cash frivolously. Unlike lawsuit loans, lawsuit funding is only paid back to the lender IF you win your case. In other words, the obligation to pay back the money is only there if you get a settlement in court. This takes an enormous amount of pressure and stress off of the borrower, compared to traditional loans.
Remember though, the slip and fall lawsuit funding must be repaid if you do end up getting a settlement. That is why it is a smart idea to use the funds wisely, and for expenses related to your injury.