At some point during your client’s litigation, it is likely they will express to you their lack of resources and financial stress. We all know that claims can take years to resolve, and time is not generally on the plaintiff’s side. Aside from the physical and psychological impairments that victims have to cope with, the financial constraints and difficulties caused by an inability to work can truly add “insult to injury."
While it may be tempting to file for bankruptcy or sell a primary residence when faced with the financial pressures of personal injury litigation, these short-term answers often carry long-term consequences — while a solution based on the litigation itself might be a preferable option, says Dawn Simons, client relations manager with CaseMark Financial.
While litigation funding often adds value to a personal injury client’s file by making up for the shortfall when an insurer terminates benefits, one recent case shows that a number of financing arrangements can also be used together at a reasonable cost to tailor a comprehensive solution, says Mickey Mingov, founder and managing director of CaseMark Financial.
Not all settlement loan providers are created equal, and clients need to be aware of the differences and ask some key questions before agreeing to financial assistance, says Mickey Mingov, founder and managing director of CaseMark Financial.
Personal injury victims who need financial assistance while waiting for their insurance claim to be resolved are better off receiving a loan in stages rather than a lump sum, says Mickey Mingov, founder and managing director of CaseMark Financial.
Treatment financing could be the answer for injured claimants who have exhausted their medical-rehabilitation benefits or been denied coverage, enabling them to continue funding vital services and avoid losing any progress they've made, says Mickey Mingov, founder and managing director of CaseMark Financial.
Litigation funding can help personal injury victims through one of the most difficult periods of their lives, says Mickey Mingov, the founder and managing director of CaseMark Financial. The financial services company aims to fill the financial gaps that can quickly develop in the finances of individuals when they enter the litigation process after suffering an injury.
Litigation loans can assist claimants during lengthy court proceedings, ensuring their bills are paid while seeking a fair settlement, says CaseMark Financial’s founder and managing director, Mickey Mingov.