Even in the best circumstances, the labor and delivery process can be stressful. When a negligent physician makes a mistake that harms the baby, the situation becomes that much more difficult. Afterward, the family is left to deal with the consequences on their own. While taking legal action against the neglectful party can result in compensation, the money doesn’t always come fast enough. Applying for birth injury lawsuit funding can ensure your family has what they need to get by while the litigation process takes place.
No matter how serious the harm, a birth injury can seem like a catastrophic situation. When the injuries are severe, the child could be facing a lifetime of medical treatments and care. The parents, who may suffer psychologically from the stress, will need to be able to afford the treatments to ensure their child has the opportunity to live a high quality life. At Preferred Capital Funding, we understand that it doesn’t take much to set a family back financially—especially after a hospital has made an egregious error. That’s why we offer funding for those pursuing legal action against the guilty party.
The Cost of Birth Injuries
According to the National Healthcare Quality Report, nearly 28,000 birth injuries are reported every year in the United States. The injuries are often classified as mild, moderate, or severe. Mild injuries include fractures, hematomas, or mild bleeding on the brain. Moderate injuries are those like oxygen deprivation, more serious bleeding or fractures, or subdural hemorrhaging. The most severe injuries include subdural or intraventricular hemorrhages that result in seizures, underdevelopment of the brain, or severe brain injuries.
If your child sustained a birth injury, they may be diagnosed with one of the following conditions:
- Caput succedaneum
- Facial paralysis
- Brachial palsy
- Cerebral palsy
Generally, the worse the injury, the more expensive the treatments. For some families, their medical bills could be hundreds of thousands of dollars. Families could result to taking out a second mortgage, foreclosing on their home, or declaring bankruptcy.
In addition to the expenses for treatments and care, families’ lives could be put on hold. Parents may be unable to return to work. They will need to learn how to care for their child, which can take time depending on the condition.
Understanding How Pre-Settlement Funding Is Unique
When you apply for lawsuit funding, it’s considered non-recourse. This means if you lose your personal injury case, you do not have to pay us back. There is no collateral associated with your funds. Additionally, repayment is different. You don’t need to worry about monthly payments. With us, you’ll be able to pay us back in one lump sum after you’ve settled your claim and received your compensation. This will allow you to move forward faster, without carrying any debts.
There are also few requirements for obtaining settlement funding. We do not need to look at your financial history, credit score, employment status, or do a background check. We will only need to verify you are currently pursuing a personal injury claim with the help of an attorney.
To get approved for lawsuit funding, you’ll need to have a strong case. Because we’re taking the chance that you could lose your case, it needs to be evident that the party you are taking action against was negligent and caused your child’s birth injuries. Our legal underwriters will evaluate the risk of providing you with money and decide how much you are eligible for.
How Lawsuit Funding Can Help Your Family
If you’re hesitant about applying for funding, you’ll benefit from understanding what one can do for your family when you’re dealing with a birth injury claim. If bills are piling up and you’re unable to wait for your case to settle, we can help.
If you’ve recently given birth and are caring for an infant with birth injuries, it’s unlikely you’ll be able to return to work for some time. As a result, your financial situation may suffer as your savings account depletes. While it’s likely you prepared to be away from work for a period of time, you may not have the funds to keep up with your bills and everyday expenses and pay for the extensive medical treatments that your baby needs. Settlement funding can make it possible to afford your monthly bills and basic necessities in addition to your baby’s medical expenses. You won’t have to worry about making difficult decisions or sacrifices.
In addition to your concerns about missing paychecks, you’ll need to worry about insurance companies valuing your personal injury claim incorrectly. Insurance companies generally want to offer claimants as little money as possible. If you’re hurting for money, you may be inclined to settle early and get less than you deserve. With lawsuit funding, you and your lawyer can take the time you need to negotiate full and fair compensation for your baby’s injuries.
Families dealing with a wrongful birth injury have to make a number of harrowing decisions. Fortunately, applying for funding does not have to be difficult. The process itself is incredibly easy, takes very little time, and is 100 percent risk-free.
Apply with Preferred Capital Funding Today
Prior to applying for a pre-settlement funding, you’ll want to ensure your lawyer is on board. They’ll need to be willing to work with us for your request to get approved. Once you’ve decided how much money you need, submit your application online or give us a call. Our legal underwriters will review your application and determine how much money we’re willing to offer you. We’ll go over the terms and fees associated with the funding, so you know just how much you’ll be repaying after your case settles. You could have your money in as little as 24 hours, so you can work toward getting your life back in order and providing your child with the care they need.