Because of another party’s negligence, recklessness, or deliberate action, you are seriously injured and trying to recuperate from this life-changing situation. Meanwhile, you suffer financially as well as physically from the aftermath of the accident. Medical bills keep coming in, and paying for necessities becomes more difficult. If you have a personal injury lawsuit filed against the at-fault party, Georgia pre-settlement funding can help you get back on your feet financially.
Although pre-settlement funding is sometimes referred to as a lawsuit loan, it is not actually a loan. Instead, it is similar to a cash advance. You can use it to pay off your bills, fund your current living expenses, or for any of your needs. Pre-settlement funding is usually available for up to 25 percent of your potential settlement, which serves as the collateral.
How Pre-Settlement Funding Works in Georgia
In any civil court case, there is always the risk that the insurance company will not agree to a reasonable settlement or that a judge or jury renders an unfavorable verdict. Pre-settlement funding in Georgia is non-recourse. That means that even if you do not receive compensation for your case, you do not have to pay back the pre-settlement funding amount. It is a risk taken on by the lender, and it is a great advantage for the client.
Georgia Pre-Settlement Funding Laws
Georgia operates under a modified comparative negligence standard. If a jury determines that you were more than 50 percent at fault for your accident, you cannot collect damages. However, you can collect damages even if you were partly at fault, as long as the percentage of fault does not exceed 49 percent.
Your award is reduced by the percentage of fault for which you are deemed responsible. For instance, if the jury decides you are 20 percent at fault, a $100,000 award is reduced to $80,000.
Under Georgia law, you may qualify for pre-settlement funding if you meet the following criteria:
- You must have a pending personal injury case filed in civil court.
- Your case cannot have liens from another lender.
Personal Injury Pre-Settlement Funding in Georgia
Your attorney must agree to work with us in order for you to qualify for personal injury pre-settlement funding in Atlanta, Savannah, or anywhere in Georgia.
We will discuss the strength of your case with your lawyer prior to making a decision regarding your pre-settlement funding. Your case must have a strong potential for achieving a good settlement or verdict amount.
In Georgia, the statute of limitations for filing a personal injury lawsuit is generally two years from the date of the accident. Failing to file your lawsuit by that deadline means your claim likely cannot go forward.
Pre-settlement funding does not affect your credit score. No credit checks are run.
Learn More About Pre-Settlement Funding in Georgia
If you would like to know more about how pre-settlement funding can help you in Macon, Athens, and throughout Georgia, contact Mustang Funding today. If approved, you may receive your funding in as little as 24 hours.
