Construction accidents may end in serious injuries, expensive medical care, and lost wages, which puts victims and their families in difficult financial situations. Pursuing a legal claim for compensation in such circumstances becomes crucial. But the drawn-out legal procedure and the associated financial difficulties can make matters even more stressful.
Loans for construction accident lawsuits are used in this situation to provide plaintiffs with financial assistance during their legal processes. The different facets of construction accident lawsuit loans, their advantages, eligibility requirements, application procedure, and frequent myths will all be covered as you read on.
Depending on the specifics of their cases, Mayfair may grant clients legal funding ranging from $500 to $1,000,000. Plaintiffs who stand to earn greater settlements typically qualify for more legal financing since payback comes from your future settlement.
Mayfair Legal Funding, LLC,. provides non-recourse cash advances, all references to the word loan and or loans are for marketing purposes only. Mayfair Legal Funding, LLC., provides non-recourse cash advances, structured as a purchase of an equitable lien in a potential settlement of a claim. Mayfair Legal Funding, LLC., does not provide nor offer loans and or lending services.
Construction site mishaps include various situations, including falls from great heights, electrocutions, scaffolding collapses, equipment failures, and more. These incidents cause severe harm, like fractured bones, severe brain injuries, spinal cord injuries, and even fatalities. In establishing culpability and taking legal action, it is essential to comprehend the causes of these incidents.
In the US, work-related injuries claim the lives of two construction workers on average every day. In fact, construction is a factor in one out of every five workplace deaths.
The leading causes of death in the construction industry include falls, being struck by an object, being electrocuted, and being entangled between things.
Generally speaking, a worker injured on the job has no other recourse except to file a lawsuit against the company. However, there are situations when the property owner, the general contractor, or other contractors may be held accountable for employee injuries.
credit is bad?
Yes, litigation loan providers look more favorably upon the merits of the case than upon the borrowers’ credit histories. Usually, having bad credit doesn’t impede the application procedure.
The length of time it takes to receive a lawsuit loan varies based on the intricacy of the case and the lawsuit loan provider. On average, it could vary from days or weeks for the funds to be dispersed.
regular basis?
No, litigation loans often do not need monthly payments. When the dispute is resolved—through a settlement or a court ruling—repayment takes place.
loan?
Legal fees, housing expenses, and other costs associated with the litigation itself are all covered by lawsuit loans. In any case, after receiving the money, the plaintiffs are free to use it in any way they see fit.
Lawsuit Loans
A Mayfair lawsuit loan, also called legal or pre-settlement funding, is a type of financial aid that gives plaintiffs access to money to pay for their urgent expenses related to the court case. It is not a typical loan because payment is only due if the lawsuit is successful. Individuals who have yet to receive settlements or trial results frequently resort to lawsuit loans.
Construction Accidents
Loans for construction accident lawsuits provide various advantages to plaintiffs who are having financial difficulties while going through the legal process.
- Financial Support
The quick financial support that Mayfair lawsuit loans offer is one of its main benefits. The money can be used by the plaintiffs to pay for any financial commitments they may have, including home bills, mortgage payments, and treatment expenses. - Covering Medical Expenses
Medical costs from construction accidents are frequently quite high and include hospital bills, surgery charges, therapy costs, and rehabilitation expenditures. A Mayfair litigation loan can assist plaintiffs in receiving the required medical care without accruing further debt. - Time to Negotiate a Fair Settlement
In an effort to coerce plaintiffs into accepting poor settlement offers, insurance providers and defendants frequently drag out the judicial process. Mayfair’s legal funds give plaintiffs the financial security they need to persevere through the protracted legal battle as they wait for a reasonable settlement or trial result.
Workers’ Compensation Benefits
People who are impacted by construction accidents may suffer from physical, psychological, and financial consequences. Over 700 construction worker fatalities are reported each year, based on data from the Occupational Safety and Health Administration (OSHA). Across all occupations, these fatalities make up approximately one in every seven fatal accidents at work.
Those hurt on a construction job may be eligible for Social Security payments or workers’ compensation. If a third party’s negligence resulted in the accident, personal injury litigation may be undertaken as an alternative for further compensation.
Although a settlement payment might result in a significant award, getting one is difficult, particularly when you have no income. Workplace injury claims might take a very long time to resolve, just like the majority of legal issues do. Pre-settlement legal funding for claims involving construction accidents is made available to those who:
- Wasn’t adequately warned about dangerous circumstances at a job site
- Were made to work in an unsafe setting by an employer
- Employer, contractor, or property owner never provided the necessary training
- Have to use defective equipment and/or support structures
Obtain Construction Accident Legal Funding From Mayfair Today
Plaintiffs often go through an examination procedure by a lawsuit loan provider, like Mayfair, to determine their eligibility for a construction accidents lawsuit loan. This evaluation takes numerous things into account.
Evaluation Procedure
Reviewing the case’s specifics, such as responsibility, damages, and the prospect of a win, is a standard step in the assessment procedure. To evaluate the strength of the case, lawsuit loan providers collaborate extensively with personal injury attorneys.
Documentation Requirements
Documentation about the construction accident, such as medical files, incident reports, and details about legal counsel, must be provided by the plaintiffs. These records assist Mayfair in assessing the case and calculating the financing amount.
It’s EASY to submit an application for construction accident Mayfair lawsuit funding. The plaintiff provides information about their case and legal counsel on an application form that is given by Mayfair.
The Process of Repayment
The conclusion of the lawsuit will determine whether a Mayfair litigation loan gets paid back.
Contingency Basis
Loans for lawsuits are paid back contingently, so if the plaintiff loses the proceeding, they are often not compelled to pay back the loan.
Repaying the Loan
The litigation loan sum, including any remaining accrued interest and fees, is paid back from the settlement sum if the plaintiff prevails in the case or achieves a settlement.
Even though lawsuit loans might offer vital financial support, it’s important to look into other choices before settling on one. Possible choices include using personal funds, getting help from family and friends, or dealing with creditors.
Accidents in the construction workplace can have significant financial, emotional, and physical repercussions. Lawsuit loans offer plaintiffs a lifeline by granting them financial assistance throughout the legal procedure. People may choose wisely when it comes to construction accident lawsuit loans by being aware of the advantages, requirements, and application procedure. A Mayfair lawsuit loan may be able to help you navigate the legal process if you or someone you love has been injured in a construction mishap and is having financial issues.
To be eligible for pre-settlement support for construction accidents, there are no job verification requirements or verification of credit. Decisions about approval are based on the particulars of each case, such as the lawsuit’s details and setting. To begin the application process and find out if your case qualifies, contact Mayfair at (888) 357-1338 or fill out our online form right away for FREE.