Americans are some of the hardest working people in the world. Companies across the world employ millions upon millions of people each year. There are generally three types of classes throughout the United States. There is an upper class, a middle class and lower class / “working class.” These classes are generally determined by an annual disposable income. This income ultimately determines the way of living for many families throughout the United States. When we talk about middle class and working class these are the workers of companies that typically employ Union members, electricians and construction workers. While each case is on a person to person basis when someone is hurt on the job, it can be devastating.
Workers’ Compensation is typically a program that is set-up to protect employees. The unfortunate case is although most companies abide by regulated laws which determine the amount of workers’ compensation you are entitled oftentimes the amount of time that lapse before a ongoing payment is awarded can take time. For some people that have been injured on a job it will take a lawyer to help collect compensation. In this case the amount of time it takes to get paid, will ultimately take longer due to litigation and negotiations.
When a worker is out of a job without disposable income coming into the household it can result in falling behind on mortgage payments, increased medical costs and rising credit card bills. While it would be ideal to have a nest egg to help pay for increasing bills and expenses, many of our workers don’t have a nest egg for a rainy day.
When an individual is faced with increasing bills and in some cases the threat of losing a home or being evicted lawsuit funding may help. Lawsuit funding for a workers compensation case can help pay down increased bills and help sustain you throughout the litigation of your case. There are ultimately two different types of lawsuit funding programs for workers compensation cases. There is the standard pre-settement cash advance (prior to settlement) and a structured settlement payout (taking over the payments). Both of these lawsuit funding programs can help a family through trying times.
While lawsuit funding typically has higher interest rates attached the upside is that if you don’t receive compensation from your case, you don’t have to pay back the lawsuit loan. There are also other cases in which a lawyer may not recover the full amount expected from your workers’ compensation claim. Because some companies offer non-recourse funding they can never collect over an beyond their loan. This protects the individual from having to come out of pocket.
If you are currently searching for lawsuit funding for a workers compensation claim, LawLeaf can help. LawLeaf provides and online service that matches those individuals searching for workers compensation cash advances with companies that are ready to compete for their business. Whether its a workers compensation cash advance or a personal injury related matter, it certainly helps shopping rates.
For additional information on lawsuit funding for workers’ compensation claims, contact LawLeaf today.
Note* Due to state laws most companies will only provide workers compensation loans in the following states: Alabama, Indiana, Montana, South Carolina, Connecticut, Iowa, Nebraska, South Dakota, Delaware, Louisiana, New Hampshire, Tennessee, Florida, Maine, New Mexico, Vermont, Georgia, Michigan, North Dakota, West Virginia, Idaho, Mississippi, Oklahoma, Illinois, Missouri and Rhode Island.