Tens of thousands of people each year are injured or die due to medical malpractice. These injures may be a result from surgical infections, failure to diagnose or misdiagnoses, medical errors, and surgical malpractice. When a person is admitted to a hospital for treatment, doctors, surgeons, health professionals and hospitals can be held responsible if injury or death occurs due to malpractice.
Thousands of people each year file medical malpractice lawsuits for injuries that could have been prevented. The types of lawsuits are very complex and complicated and most of the times will require the need of a personal injury or medical malpractice attorney.
Amedical malpractice lawsuit fundingcan take months and even years before a resolution. These types of lawsuits may require medical expert witnesses, testimonies and medical history and charts to prove that negligence has occurred. And when negligence is identified and proved by the plaintiff's team the amount of settlement offer could be a fraction of what a case is worth.
While the majority of personal injury suits are settled without going to court, it's not uncommon for a medical malpractice suit to go into litigation and end up in trial. This can further delay compensation to the plaintiff which can be a financial disaster to the victim and his or her family members.
Due to the overwhelming amount of time that elapses from the time of filing to a cash award, through a settlement or trial, some people are forced into applying for litigation financing against their case. Litigation financing is a non recourse loan that is used against a pending or settled lawsuit. A lending company will use the future compensation from the claim as the guarantee and in return provide funding to the client. When and if a settlement is reached or verdict is won, the plaintiff will pay back the lender the principle plus interest. If the lawsuit is lost for any reason, they owe nothing.
When a person files a personal injury lawsuit for a medical malpractice they may be seeking compensation for hospital stays, ongoing medical expenses, lost wages and pain and suffering. In many cases a patient may need additional surgeries which result in increasing medical costs and additional wage lost.
Litigation financing is best utilized by those individuals that can't afford to wait for a settlement or judgment. It can provide some people a formable stop gap between an early settlement of lesser value, or a full compensation package that covers all expenses. If a person is considering a lesser than fair settlement because they don't have the money to pay for their expenses, litigation financing may make sense.
It's important to understand that this type of lending can be expensive and should only be used as a last resort. If you are going to apply for an advance against your case you must have your attorney review the contract before signing off. You must make sure there is a clear rate schedule outlining all the fees associated with the advance. This includes administration and underwriting fees as well as the long term rate of an advance extending over a year if applicable. If you are searching for additional information onmedical malpractice lawsuit funding, visit our site today.