A gentleman was struck by a Commercial Semi 18-wheeler truck on a Sunday Bicycle ride because the driver was texting and didn’t see the stop sign and struck him.
Paramedics were dispatched and the man was quickly brought to the emergency room and received treatment for head injuries, a broken leg, and facial lacerations.
The man’s family called a personal injury law firm. The man’s attorney said he has a solid case and would not have to worry and that he would win the case and the man’s family would be taken care of.
Even with this good news, the man would be able to work and his bills started to pile up. Bills for doctor bills, car payments. The man was the sole provider for his wife and children and told his lawyer told him he needed to be patient and let his case develop.
The motor vehicle case took time for the man to receive updates and it appeared it would months, if not years to settle and the man to be awarded his money for the damages and injuries.
Without employment or income and with his bank account overdrawn, the man and his family faced a serious money crunch; and worried about the possibility of losing his home.
The man knew he would win his lawsuit and went to his bank for help but the bank said they could not approve him for a loan. Bank after bank denied his requests.
Searching for alternative funds, the man found a lawsuit loan company that offered “legal funding” quickly with no upfront fees, and best of all, if the lawsuit didn’t win, he would owe nothing.
How Funding Agency Are Helping
Curious, he called companies loan manager, who was extremely knowledgeable and friendly. The man’s questions and concerns were all answered and convince that Tribeca could help his family, the man completed the application.
The man received a call from Tribeca Lawsuit Loans the very next with good news, they would be able to provide the man and his family with funds.
Relieved, the man told his wife and the dark cloud was lifted. Tribeca’s lawsuit loan allowed the man and his attorney to level the playing field of the deep-pocketed insurance company lawyers from the daily to refuse low ball settlement offers and get the amount he rightfully deserved.
If the man did not receive the $15,000 presettlement loan from Tribeca Capital, the man may not have been able to allow the case to fully develop and reach the successful conclusion with a much larger settlement award.
Legal funding enabled him to wait for fair compensation; Tribeca Capital helped ensure that those adversely affected are on an even playing field with the defendants who were responsible and liable for the damages and injuries.
The defendant’s powerful insurance company had to pay the man and allowed their lives to return to normal.
Summing Up
Pre-Settlement Loans isn’t the answer for those adversely affected and suffering financial stress, but for those who have a well-developed lawsuit with solid criteria; Liability, sufficient damages, and a source of financial recovery.
Liability could be the Police Crash report, Damages can be the value of your car and the cost of your medical treatment, and the source of recovery is the amount of insurance the defendant has or their net worth. Tribeca Capital doesn’t “loan” cash; it invests in the potential settlement award that a plaintiff will receive.
It’s true that if you don’t lose your case that you will need to repay at a higher rate than a traditional loan on average, but keep in mind that Tribeca does not participate in your case and that not all attorneys are created equal.
Some lose their client’s cases and Tribeca does not recoup any of the money they gave that plaintiff. Tribeca strongly recommends that people who consider a lawsuit loan do diligent research and in our opinion, pros for litigation funding outweigh the cons. If our readers have additional questions or concerns, they are encouraged to obtain free telephone advice, without obligation.
