An accident can quickly turn a person’s life upside down. In addition to dealing with the physical and emotional ramifications, you may run into financial difficulties. When an accident results in injuries, the medical bills can pile up quickly—especially if you need to stay in the hospital for an extended period of time, have to undergo extensive procedures like surgeries, or need continued treatment after you’re released from the hospital.
When an accident is caused by the negligent actions or inactions of another person or a larger entity, the victim can file a personal injury claim. While taking legal action can lead to compensation for the losses, lawsuits can take a long time to settle. If you’re struggling and need money now, you can apply for Ohio lawsuit funding from Preferred Capital Funding.
Who Can Apply for Legal Funding?
Fortunately for struggling plaintiffs, there are few qualifications a person needs to meet to be eligible for lawsuit funding. You must be pursuing a personal injury lawsuit against the party you think caused your accident and injuries. You must also be working with a lawyer who is willing to work with us. That’s it. We won’t need to look at your credit score, employment status, collateral, or other personal or financial information.
You may be wondering if your personal injury lawsuit type qualifies for lawsuit funding. Some of the most common lawsuits we provide funding for include traffic accidents, defective products, medical malpractice, nursing home abuse, and wrongful death.
Traffic accidents, which can be broken down into car crashes, motorcycle wrecks, truck accidents, pedestrian accidents, and bicycle collisions, are a common occurrence in Ohio. A number of these accidents result in fatalities. According to the Ohio State Highway Patrol Statistics, there were 1,094 fatal crashes in 2017. In those crashes, 145 pedestrians were killed, there were 157 motorcycle fatalities, and 116 deaths involved heavy trucks.
Many of the traffic accidents in Ohio are the direct result of driver negligence. When someone is focused on their phone, is driving while under the influence of drugs, or is breaking the law, they put others’ lives at risk. If you’ve been wrongfully injured or lost a loved one in a crash and are now struggling financially, pre-settlement funding can help you cover your expenses.
Understanding Lawsuit Funding Regulations in Ohio
Some states regulate pre-settlement funding. Ohio is one of them. The regulations are through Ohio Rev. Code Ann. § 1349.55. According to the statute, litigation funding companies are supposed to inform potential clients that they have no rights in any decisions in lawsuits. The legislation also prohibits lenders from having any control of involvement in personal injury cases.
There are no regulations for fees, interests, or for the length of time that fees can be charged.
Submit Your Application Today
Applying for Ohio lawsuit funding is simple. We’ll only need your contact information and some details about your lawsuit. Once you’ve submitted your application, our legal underwriters will begin the process of reviewing your request. This will involve speaking with your lawyer to determine the strength and validity of your case. If we feel your lawsuit is strong enough, we’ll provide you with the funding you need.
Prior to receiving the money, we’ll provide you with information regarding the terms of the agreement and how much you’ll owe us in return. All fees and interest are calculated up front, so there won’t be any surprises when it comes to paying us back. If you’re ready to take care of your bills and debts so you can focus on your lawsuit, apply for pre-settlement funding today.