The Jones Act establishes several key principles with regards to Maritime travel, including establishing that goods shipped between United States ports must be shipped on vessels that US-owned vehicles. One of its most vital protections, however, is the right of sailors to seek compensation from the crew, captain, or owner of a ship in the event of an injury while out at sea.
Your right to claim compensation, however, does not necessarily mean that you will immediately and automatically get the funds you deserve for your injuries.
How does a Jones Act or Maritime Accident Lawsuit Loan Work?
When you suffer serious injury out on the water, you may not have the right to claim workers’ compensation the way a land-based worker would. As a result, you may find yourself stuck in the cycle of waiting for a personal injury claim resolution. You have the same bills, including medical expenses, that anyone injured in a workplace accident might face, but you may not have the funds on hand to pay those bills, and your employer does not have to take responsibility for your medical costs through a workers’ compensation claim.
A maritime accident lawsuit loan can provide you with the funds you need immediately, instead of having to wait. You can take out a Jones Act accident lawsuit loan based on the funds, or a portion of the funds, that you expect to receive in your settlement, then pay it back once you have those funds in hand.
A Jones Act Maritime Accident Lawsuit Loan Can Help Alleviate the Financial Strain
After a serious accident as a sailor, you may have a lot of unexpected expenses. Without income coming in, since you may not be able to work immediately after your accident, you may have a hard time paying those bills. Unfortunately, you may have little recourse in the meantime.
A maritime accident lawsuit loan can help alleviate some of the financial strain from your accident.
We Can Help You Pay the Same Bills – Even if You’re Not Making the Same Income
You may not have your usual income during your recovery, which can make it very difficult for you to take care of your living expenses and other bills. Fortunately, a maritime accident lawsuit loan can provide the funds you need to arrange for lodging in a new location or keep up with your regular rent or mortgage and utilities while you recover.
Furthermore, your regular bills will not stop coming in just because you suffered serious injuries. While those companies may work with you to make it easier for you to pay, you’ll still notice those bills mounting–and you may, as a result, have a rough financial load ahead.
With your maritime accident lawsuit loan, however, you’ll have the funds you need in hand. As a result, you’ll be able to take care of those critical bills, avoid collections action, and keep your finances in line.
Make Medical Decisions Based on Your Needs – Not Your Immediate Finances
Many lawyers may recommend waiting until you have a reasonable idea of what your recovery will look like, including your final medical costs, before you pursue a maritime accident lawsuit. Your lawyer may want you to know how much you need to claim in compensation for your injuries before you move forward with your claim.
Unfortunately, in the meantime, you may not have the funds you need to pay those bills. You may find yourself struggling to keep up with your medical costs and even having to put off needed treatments because you simply do not have the funds available.
A maritime accident lawsuit loan can help put the funds you need in your hands immediately. With pre-settlement funding, you can simply borrow the money you need now from your future self: the person who actually has those funds in hand. As a result, you may have better overall medical care that can improve your odds of making a full recovery.
Reduce the Pressures You May Face from the Insurance Company or from Your Employer
The party responsible for paying out your maritime accident lawsuit claim may put a great deal of pressure on you to accept a fast settlement offer. One common source of that pressure is the bills you may have coming due. By securing a maritime accident lawsuit loan, however, you can decrease your financial worries.
Wait for the Settlement You Deserve
Often, insurance companies will try to hold out for as long as possible before they pay out the compensation deserved by accident victims, including maritime accident victims. By waiting and withholding the settlement in the meantime, they may feel that they can pressure you to accept a lower settlement than you really deserve. With a maritime accident lawsuit loan in hand, however, you will not have to give in to that pressure.
Negotiate from a Position of Power
Once you have the funds from your maritime accident lawsuit loan in hand, you can negotiate from a position of power. You know your employer bears liability for your injuries. Since you do not have immediate financial worries, you and your attorney can negotiate from a position of power.
Do You Need a Jones Act/ Maritime Accident Lawsuit Loan?
If you suffered serious injuries in a maritime accident and funds have started to run low, we can help you secure the immediate funds you need while you wait for a settlement or court award to arrive. Contact Silver Dollar Financial today to learn more about how we can help alleviate the financial strain while you wait for the funds from a maritime accident claim.