If you cannot work while your lawsuit is pending, you can file for workers’ compensation or Social Security disability, which might be activated.
Many people facing serious injuries and losses face an inability to work for some time while they heal or, in other cases, on an ongoing basis. You may not know what to do if you are unable to work, including in personal injury and workers’ compensation cases. However, there are various types of funding available.
Workers’ Compensation May Pay for Your Losses
Though state laws differ, if you are unable to work for a period of time because of a worker-related accident injury, you may be able to start receiving compensation from workers’ compensation for your missed time at work. Most often, you will receive two-thirds of what you would have likely earned based on your previous weekly average.
Workers’ compensation wage replacement typically does not kick in for the first seven days, unless you are out of work for 21 or more days (state laws may differ on this specific length of time). That means that you may not receive income if you miss less than seven days of work time.
Workers’ compensation remains in place as long as your doctor states you cannot work. Keep in mind that your injuries must be work-related and must make it impossible for you to do your job. In these situations, it is critical to seek legal advice if you are unable to go back to work at all.
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Social Security Disability May Apply in Some Situations
Depending on the situation, you may be able to file for Social Security Disability Insurance or Supplemental Security Income, depending on your financial situation. These types of coverage apply to those who have a medically diagnosed physical or mental impairment that prevents them from working.
To obtain Social Security Disability Insurance, you must have contributed to the Social Security Administration through paycheck deductions for a sufficient period. If that applies in your case, and you will be unable to work for at least 12 months, you may be able to apply for Disability. Receiving a personal injury settlement may disqualify you from receiving these benefits.
Social Security Supplemental Income applies to those who are unable to work and have limited income and resources. This is a needs-based program, which means you must fall below the guidelines set for your area. Note that if you receive this type of disability, and then you receive personal injury lawsuit settlements, you may no longer qualify for the coverage.
Obtaining Financial Support While You Wait
For those who need to obtain financial compensation when unable to work and their lawsuit is pending, it may be necessary to take advantage of pre-settlement funding, a type of financial resource that allows you to obtain a portion of your expected settlement now. This isn’t a typical loan; you do not make payments. Instead, it is paid in full once your settlement is paid out.
This funding allows you to wait for a personal injury or workers’ compensation settlement to access your expected funds early for a fee. However, several unique features apply, such as:
- It does not require a credit check.
- You do not need to have a steady income.
- It does not require you to meet any specific employment requirements.
- In situations where you do not win your case, you do not repay the funds from these loans.
Qualifications for pre-settlement funding are dependent on numerous factors, including the strength and expected value of your case. If you qualify and your lawyer states that you have a strong potential to win, a specialized lender will fund the transaction. Most often, you can access these funds within a short period, such as just a few days, without so much as a credit check.
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Financial Support May Be Available While Your Lawsuit is Pending
In some situations, you can request financial support from those who expect you to pay them while you are out of work, such as your mortgage lender or landlord. You may be able to request that they give you a break while you wait for the lawsuit to pay out, but they are not legally required to do so. They may only do this if they believe your case will pay out soon.
There are other situations where financial assistance may also be applicable. You should continue to receive medical care, for example, as long as you explain to the medical provider that you are facing a personal injury or workers’ compensation claim. Some medical providers will allow you to delay payment until you receive your settlement.
Your attorney is likely to offer the same structure for your repayment, not requiring any payment for legal services until you win. If you are unsure about seeking legal support because you do not have the funds necessary to pay for these losses upfront, turn to an attorney who operates on a contingency fee basis with no retainer required.
Apply Now for Pre-Settlement Funding
Take Every Step Possible to Protect Your Settlement
Document all of the losses you have, and be sure to work closely with your attorney to maximize your claim if you are unable to work while a lawsuit is pending. You will also want to ensure you meet the statute of limitations for filing a lawsuit in your state, ensuring your settlement is protected.
Taking these steps may help you to meet your financial obligations now while also documenting all of your losses for fair recovery later. Consider all avenues before making any decision. Contact Silver Dollar Financial today to apply to receive up to $100,000 in as little as 24 hours.
Call or text (844)871-0628 or Apply Now for Pre-Settlement Funding