Here's where pre-settlement funding can literally be a lifesaver.
LOS ANGELES, July 12, 2018 (Newswire.com) - Health insurance premiums are high--often so high that individuals make the tough decision to go uninsured, hoping they'll stay healthy and avoid accidents. However, no matter how safe we try to be, actions by a third party can cause car accidents, equipment malfunctions or produce unsafe products that can result in injuries requiring medical attention.
When personal injury clients must have medical care but don't have medical insurance, they are left with few options. They can quickly run through savings, raid retirement accounts, increase credit card debt, pull equity from their home--all in an attempt to pay for the care needed to heal from their injuries and to pay for day-to-day living expenses.
A Good Alternative. Here's where pre-settlement funding can literally be a lifesaver. "Instead of going out-of-pocket to pay for medical services, personal injury clients can receive pre-settlement funds to cover accident-related medical treatment while waiting for their case to settle," says Rockpoint Legal Funding President Ramtin Ghaneeian. "That means, doctors' bills can be paid on time, and clients don't have to deal with financial stress while recovering."
Approval and funding typically takes 24 hours or less after the completed funding application is received so medical treatment can start right away.
Funding advances are considered non-recourse funding so are repaid from case proceeds if the plaintiff wins. If the plaintiff does not prevail, the funds do not have to be repaid.
Source: Rockpoint Legal Funding