No matter how cautious a motorcycle rider may be, sometimes an accident still happens. The more serious the injury, the more likely a lawsuit will be necessary to receive fair compensation. In serious injury or deadly cases, the complexity of the litigation process can delay a verdict or settlement for years. Injured victims and their families may struggle financially during this time as bills pile up, credit cards reach their limits, and cash is runs short. This is where pre-settlement lawsuit funding is a life-saver.
Motorcycle accidents are among the most serious of all motor vehicle accidents and the National Highway Traffic Safety Administration (NHTSA) estimates that nearly half of all motorcycle accidents are the result a vehicle turning into the path of an oncoming motorcyclist. The most noted reason is that drivers tend look for other vehicles and don’t notice cyclists until it is too late.
Motorcyclists have the same rights and privileges as other drivers; increased awareness by everyone will result in increased safety. Cyclists should avoid riding in blind spots, use turn signals, and be extra cautious when passing a vehicle. Lane placement is important to be visible by other drivers. Protective clothing will serve as buffer from the impact of an accident, and protective eyewear and a helmet are crucial. But, motorcycle safety is not just for the cyclists; auto drivers need to be vigilant, too. Drivers should be cautious at intersections especially when making a left turn or changing lanes. As with the cyclist, lane placement is important; allow plenty of room between your vehicle and the motorcycle.
However, accidents can and do happen. The more serious the accident, the more likely the lawsuit and the more likely the victim is to have financial difficulties while waiting for the lawsuit to resolve. One means for financial support is a bank loan. Unfortunately, banks and other financial institutions require good credit, employment, and collateral. Traditionally, they will not provide a loan against a pending lawsuit, and they also will not excuse the loan if you lose the case. Bank loans also come with a monthly payment. How can an extra payment help an already financially-strapped plaintiff? Another option is to borrow money from family or friends, but, what happens if the plaintiff loses the case and can't pay the money back? The family member may not excuse the obligation and the inability to repay could also strain a relationship. There is also the option borrowing from the equity in one’s home, but if the lawsuit drags out the victim could lose the home. Running out of options, many plaintiffs will consider settling a claim too soon, for too little, to avoid financial ruin. There is another option: It’s called lawsuit funding.
Lawsuit funding is NOT a “lawsuit loan"; it is a non-recourse cash advance against a pending lawsuit. This means you are not obligated to repay the cash advance until you win your case. If you lose, the repayment is waived, even the cash advance. Credit and employment history do not matter to a lawsuit funding company because the advance is provided based on the strength of the case. There are no upfront fees, monthly payments, or other out-of-pocket costs. The only requirements are a retained attorney and a good case. The application process is quick and easy; once approved, funds can be available within 24 – 48 hours. Litigation funding really is no risk for the plaintiff.
As we welcome in Summer, we also welcome a significant increase in motorcyclists on our roadways. That is why NHTSA promoted May as Motorcycle Safety Awareness Month. Hopefully, the vast majority of our readers will stay safe, but for those unfortunate few who have been injured or lost a loved one in a motorcycle accident, contact an experienced motorcycle accident attorney through LawyersandSettlements.com. And, for those who find themselves struggling financially throughout the long legal process, motorcycle accident lawsuit funding from an industry professional may be the solution.