Sometimes, you buy a product from a trusted brand but design issues or manufacturing problems make the item dangerous, and you or someone you love becomes injured. It may take a lawsuit to get the company to take responsibility for its products.
A product liability lawsuit can take a long time to settle or move through the court system. While you wait for the compensation you deserve, you need to pay for your own medical bills and the expenses of everyday life. A product liability lawsuit loan gives you the money you need.
How Long Does It Take to Settle a Product Liability Lawsuit?
The company’s attorneys might try to offer you a quick settlement in the immediate aftermath of your injury. This is almost always a lowball offer. It probably won’t cover your medical bills and pain and suffering.
The damages can also include damage to your home and personal belongings. You need to live during a product liability lawsuit, and you may need to pay repair bills and more out of pocket. The time it takes to settle or get a judgment in a lawsuit can depend on these factors:
Time to Assess Damages and Injuries
After an incident concerning product liability, the opposing side may try to rush a settlement. They don’t want you to have all the time you need to determine the extent of the damage or injuries sustained. Before accepting any type of settlement, you need a complete picture of how much it’s going to cost to recover or rebuild.
Stalling from the Insurance Company
If you don’t accept a quick settlement, the insurance company or legal team might try to stall. They know you need to pay bills for living expenses and or medical care. This tactic is employed to try and get you to settle for less than the compensation you deserve for your injuries or damages.
Negotiations Aren’t Quick
When you’re trying to reach a settlement agreement with the company’s insurance company, they want to pay you as little as they can get away with, and you want to get as much as you can. This process takes time and many offers need to go back and forth. Through this process, you might be able to reach an agreement that both parties think is fair, but it won’t happen overnight.
Court Dates Are Hard to Schedule
When you can’t agree on a settlement, you may need to take your case to court. This can take months or years. The insurance company’s legal team will try to stall a court date with depositions and other ploys.
Once you have a court date, it might take a week or longer for arguments in your case. The need for expert testimony and other information may prolong the time it takes in a courtroom. Also, even after you have a judgment, the insurance company might appeal, further holding up your settlement money.
A Product Liability Lawsuit Loan Provides You Money Now
With a product liability lawsuit loan, you get money now and gain the time you need to wait for an equitable settlement of your case. These funds can be used in a variety of ways:
Eliminate the Pressure to Settle
When the bills are piling up or your home or car needs repairs now, there’s a lot of pressure to go ahead and settle with a lower monetary award. With your pre-settlement loan, you have the money you need to wait for the compensation you deserve.
You can spend this loan money on medical bills, repairs, and regular household expenses, which might be a concern if you can’t work due to injuries. These funds help alleviate the stress that comes with not being able to pay your bills and provide you the nest egg you need to wait for the settlement that you deserve.
Pay Your Medical Bills
The injuries from a poorly constructed product can cause injuries that range from a broken arm to severe, life-threatening damage. While your health insurance might cover some of it, you’ll find yourself drowning in co-payments and deductibles quickly.
A product liability lawsuit loan funds can be used to pay your medical bills. From surgery and follow-up doctor visits to physical therapy and medication, medical bills can quickly overwhelm your personal finances.
Pay Your Regular Bills
From housing and utilities to food and transportation, it’s expensive to live your best life. In some cases, if your injuries from a faulty product are severe, you might miss weeks and months of work, leaving you unable to pay these mundane bills.
Your lawsuit loan offers you an umbrella to keep your household afloat while you wait for a reasonable settlement or your day in court. When these bills are paid, your recovery or rebuilding can become your main focus while the lawyers take care of everything else.
Return to or Create a New Life
In the wake of an injury or damage from a product, it can be hard to return to your old routine. It might be that your routine needs to change based on your injuries or the damage. You might need to rent a place to live while repairs are done on your home.
In some cases, you might need to make structural changes to your home to be able to stay in it, such as adding a ramp for a wheelchair. Your product liability lawsuit loan makes it easier for your return to your life or to create a new one.
Contact Silver Dollar Financial Today
You deserve to have access to the funds you’ll receive from a product liability lawsuit immediately. Silver Dollar Financial provides product liability lawsuit loans that you can use to pay bills, cover medical expenses, rebuild, and wait patiently for the money you deserve.