Lawsuit Funding Helps Car Accident Victim Get a Better Settlement

Citrus Heights, CATwo young boys were hit by a driver accused of being under the influence of a controlled substance as their mother, Maria Perez, walked them to school in Citrus Heights, CA. One child has been released from the hospital, but his younger brother remains in a coma. The driver is accused of driving under the influence and driving on a suspended license.

The mother of the two young boys was not physically injured; she is undoubtedly, however, suffering from severe emotional trauma, directly related to the accident. The family is also suffering financially. As KCRA News reports (10/11/12), both Perez and her husband are currently unemployed and struggle to meet medical expenses. The community has gathered together to help this family. Friends and neighbors are hosting car washes and a trust fund has been set up by Chase Bank. The children's elementary school is collecting donations of canned or boxed food, clothing, gift cards and toys.

While the driver, Tresa Bales-Sterba, has been arrested, her arrest alone will not alleviate either the physical or emotional suffering of the Perez family. Given the nature of the accident and the extent of the injuries, it's probably in the best interest of the family of the injured children to seek legal advice from an experienced attorney to pursue justice through litigation. Legal action can’t cure physical and emotional pain, but it can provide compensation for pain and suffering, medical expenses, and other out of pocket, accident related expenses.

After retaining an attorney and filing a lawsuit, the family may also wish to consider applying for lawsuit funding. Because it can take a long time--even years--for a lawsuit to wind its way through the courts, victims may find themselves in need of funds while they wait for their lawsuit to settle. Lawsuit funding is a service that can provide that "bridge funding" --to financially bridge the victim from the time their lawsuit is filed to when it ultimately settles. Lawsuit Financial is one company that specializes in lawsuit funding. Over the years, Lawsuit Financial successfully helped financially strapped plaintiffs by providing a lawsuit cash advance against the proceeds of their case. Here is a real-life example of lawsuit funding in action taken from an actual case that Lawsuit Financial arranged pre-settlement funding for:

A Florida man was rear-ended by a truck as he sat at a red light. He suffered serious neck, back, and head injuries, including severe memory loss. He was unable to work and, as the family's sole-breadwinner, he missed several mortgage payments and the bank was threatening foreclosure. The defendant’s insurance company offered $200,000 to settle the case--but the plaintiff’s skilled attorney was certain that the case was worth $500,000-$550,000. In April 2009, the attorney called Lawsuit Financial. After reviewing the case, the company approved a lawsuit cash advance of $15,000, an amount sufficient to bring the mortgage current and cover ancillary debt. This vital funding provided precious time for the attorney to work his special magic and achieve appropriate justice for this unfortunate family.

Eight months later, the case settled for $525,000. Lawsuit funding was a substantial reason for the $325,000 increase in final case settlement proceeds--it was a win for the client, and a win for the attorney. Without such "win-win" pre-settlement funding, the victim may have been forced into settling for much less than his case was worth simply because he needed to pay his bills. We call this the “win-win-win” scenario; the case is a graphic illustration of the power and benefit of lawsuit funding.

“Thank God my attorney recommended Lawsuit Financial”, said the victim after the case had settled. “Against our attorney's advice, we were more than willing to settle this case for $200,000. We were facing foreclosure and there was no way we were going to lose our house. Lawsuit Financial saved our house and helped us get a much higher settlement. We will be forever grateful.”