Today, the advent of innovative funding and no-risk legal financing is giving victims their lives back.
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In the past, those awaiting a settlement were left with little recourse or assistance. The Rise in Pre-settlement Funding and Legal Loans in California This puts victims in a tight spot, often with nowhere to turn for assistance as they struggle to keep financially afloat. In many cases, injuries sustained from accidents result in time off work, inability to maintain the same type of employment, mounting medical bills, and more. Those who fall outside of the average range can sometimes end up waiting for up to 2-3 years before seeing the compensation they’re owed. According to data published by NOLO, the average time to achieve a favorable verdict or signed settlement agreement is 11.4 months. Settlements from insurance companies or court cases can take months to years to finalize, putting victims and their families at risk of significant financial hardship. Lengthy Settlement Timeframes Leave Californians with Mounting Debt, Causing a Rise in Pre-settlement FundingĪlthough some cases and claims are straightforward, the vast majority of claims in California are complex, with the opposing party or parties working to aggressively delay cutting a check. This quarter, Stonewood Funding highlights its innovative legal funding and pre-settlement loan services, helping victims and their families get access to the money they need now, not later.
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Life doesn’t wait, and with Stonewood Funding, victims and their families don’t have to either. In the US, victims of personal injuries, accidents, and damage caused by a wide range of factors, are often entitled under state and federal laws to file an insurance claim or lawsuit seeking compensation.Īlthough effective, pursuing compensation both in and out of court is a tedious, lengthy, and often frustrating experience, leaving victims and their families to foot the bills until a settlement is reached and a check issued.
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Similarly, tens of millions of insurance claims are filed across the United States each year. LOS ANGELES, CA / ACCESSWIRE / Aug/ According to the Bureau of Justice Statistics, more than 300,000-500,000 personal injury cases are filed annually.