Construction is one of the most dangerous trades. When an employee is injured, their medical bills are likely to be significant. While filing a personal injury claim against the negligent party is often the best way to assure they’re held accountable and you receive the compensation you’re owed, the litigation process can take months or even years. If you have bills that need to be paid now, you can apply for construction accident lawsuit funding.
When you apply for funding with Preferred Capital Funding, you could have the money you need to take care of your expenses in as little as 24 hours. We’ll explain the conditions and calculate the fees and interest up front, so you’ll know exactly what you’re required to pay back. It’s important to note that you only pay us back after you win your case. We take on the risk for you, so if your claim does not result in a favorable outcome, you won’t owe us anything.
Third-Party Personal Injury Claims and Lawsuit Funding
When an employee is injured on the job, they will typically be eligible for workers’ compensation insurance benefits. While these may cover a portion of medical bills and their lost wages, it’s likely the injured person will not have enough to account for their full wages or for pain and suffering. That’s why filing a construction accident claim in addition to your workers’ comp claim can put you on the path to receiving full and fair compensation.
Some employees who receive workers’ comp benefits are not legally allowed to sue their employer. But, when employers neglect to provide workers’ comp coverage, the injured party has to file a personal injury claim. Additionally, you may be dealing with a situation where a third-party was responsible for your injury or illness. With instances like this, you may be able to seek workers’ compensation benefits while filing a separate third-party negligence lawsuit.
There are a number of situations where you would want to consider filing a third-party personal injury claim. Common scenarios include the property owner failed to warn workers about hazardous conditions, the unsafe work environment caused your injuries, you were not properly trained and were injured as a result, scaffolding was carelessly installed, or the tools you used were defective.
Whether you have two claims going at once or are only trying to hold a third-party accountable for their negligence, expenses will add up quickly. Applying for pre-settlement funding can help you pay for your bills while recovering.
The Dangers of Construction
The Occupational Safety and Health Administration (OSHA) is a small federal agency that assures the health and safety of all employees by setting and enforcing standards and providing training, education, outreach, and assistance. They collect statistical data related to injuries in the workplace. In the construction field, they identified the most common causes of death, which are referred to as the “Fatal Four.”
It’s estimated that one in five worker deaths happens in construction. Nearly 60 percent of the fatalities were caused by the Fatal Four, which includes falls, being struck by an object, electrocutions, and getting caught in or between an object. Of those, falling is the most common cause of construction-related deaths. When a person falls, especially from a significant height, spinal cord damage and traumatic brain injuries are common. While people can recover from these injuries, it’s unlikely they will be able to return to their previous way of life. Frequent hospital visits and required medical equipment or devices can cost a family a lot financially, which is why lawsuit funding can help during difficult times.
What To Do Before Applying for Lawsuit Funding
While applying for lawsuit settlement funding is simple, there are steps you can take to prepare. First, you’ll want to discuss the matter with your lawyer. They will need to be willing to work with us for your application to be successful. Additionally, you’ll want to ensure you are eligible. You will need to prove to us you have an active personal injury claim in the works. Because we take on the risk that you could lose your case, you’ll need to have strong evidence that the opposing party is responsible for your injuries.
You’ll also want to calculate how much money you’ll request from us. Your lawyer will be able to give you an idea of what your settlement will look like. You should use that to determine how large you want your lawsuit funding to be. You’ll want to request less than your total compensation because interest and fees will be calculated into your repayment. Taking out too much could bring about financial complications later, especially if you don’t receive the settlement you were hoping for.
Recovering Faster with Preferred Capital Funding
We understand that when you’ve been injured and are taking legal action, you don’t always have access to the money you need to pay your bills and get by. Applying for construction accident lawsuit funding can reduce your stress while your personal injury claim is being handled. To apply, simply fill out our online form or call us today. Our legal underwriters will begin reviewing your application and we’ll contact you as soon as possible. If you were injured on the job and are filing a legal claim, obtaining construction accident lawsuit funding can provide peace of mind.