At present, halting the coronavirus (COVID-19) spread is a critical task for people all over the world. Many Americans are finding themselves with a feeling similar to the one that they experienced after 9/11 or the financial crisis of 2008. These were events that changed our society in ways that are still felt today. This virus has also created major changes in our lifestyles such as the level of hygiene we exercise and the way we interact with people in public.
Families, businesses, and governments have used strenuous, relatively unprecedented methods to respond to the pandemic in ways that majorly disrupt the nation’s economy. Political representatives are working to help ease the challenges in the health care field, plus ease the economic struggle and pain that has erupted. Untold numbers of individuals are becoming unemployed while countless businesses around the country are being forced to close.
No aspect of our society seems to be escaping the effects of the coronavirus. People with personal injury lawsuits pending within the legal system are especially vulnerable while their cases sit with no action. These plaintiffs’ financial situations are becoming worse by the day. If the pandemic crisis lasts much longer, these victims will be victimized even further with compounded financial hardship.
Court Trials Postponed
The waiting period for plaintiffs has already been very long, and they are now being required to wait indefinitely as their trials are postponed. In New York and other court systems across the U.S., jury selection has been suspended, and new civil and criminal trials have been postponed in an effort to stop the virus’ spread. Just recently, the Supreme Court postponed all upcoming oral arguments. This hasn’t happened since the 1918 Spanish flu epidemic over 100 years ago. Halting jury duty and closing down courtrooms is completely valid for health reasons, but the ensuing delays could cause overwhelming backlogs leading to serious legal ramifications in light of the U.S. Constitution’s guarantee of a speedy trial.
The rapid spread of the coronavirus has already caused disruptions in state and federal courthouses. Courts are now forced to implement measures such as restricting who enters the building and postponing jury trials in an attempt to contain the disease. However, not all jurisdictions are handling the situation in a similar fashion. Some court systems have only resorted to barring individuals who recently visited disease-riddled countries like Italy and China, or who display flu-like symptoms.
Financial Assistance is Available Through Legal Funding
Legal funding assistance for plaintiffs does not involve one’s credit report in any way, because it is contingency lending. This is similar to how an attorney accepts a lawsuit on a contingency basis; the lawyer agrees to handle the entire case without the plaintiff needing to pay anything unless the suit is resolved in the victim’s favor. Most personal injury cases are handled on a contingency fee basis.
Plaintiffs choosing legal funding are allowed to access money when they likely need it the most. When there has been a severe injury, victims must deal with medical appointments, physical therapy, rehabilitation, time missed from work, lack of income, etc. Without any income, victims’ financial standing quickly erodes and turns into financial quicksand. Creditors do not necessarily care what the excuse is for missed payments. They want the money that is due. In a very short time, injured individuals could be facing the loss of a home once the downward financial spiral has reached a certain point.
Because court cases can take so long to proceed through the system, legal funding has become a way for attorneys and plaintiffs to help stem the tide financially during the lengthy process. If the coronavirus causes court cases to be prolonged even further, legal funding could become a form of salvation for those with pending lawsuits.
Legal Funding Benefits During the Pandemic
A wonderful aspect of legal funding is that plaintiffs can immediately benefit from the money received. Common uses of the funds are to pay rent or house payments, to catch up on car payments that are past due, to purchase food, buy medicine, and bring utility bills up to date. In addition to relieving the acute financial stress that has been compounded, plaintiffs welcome legal funding because of the extra cushion it provides to help solve any upcoming, unseen needs that develop.
Before legal funding came on the scene, plaintiffs were left with hardly any options to make their way out of a financial crisis as they tried to patiently endure their lawsuit’s slow meandering through the court system. Usually, plaintiffs are forced to use credit cards or take out loans if they qualify. Getting a loan could prove to make things worse in the future as they to be paid back whether the court case is won or lost. Many plaintiffs may find themselves feeling victimized twice, first when they were physically injured and then secondly when they end up with a loan they cannot repay.
Legal Funding is Not a Loan
Legal funding should not be looked upon as a loan, because it is not one. Of course, some companies providing legal funding services may charge a fee on their investment, but the funds only have to be repaid after the plaintiff’s legal case is successful. If the case is not successful for whatever reason, the money does not have to be repaid. The obligation simply disappears.
The financing option made available through legal funding may just end up being far superior to any other alternatives. Many plaintiffs may find that legal funding is the only way they have to get any financial help at all to cover basic living expenses.
With the financial burden eased through legal funding, plaintiffs can now afford to hold out longer, allowing for relaxed decisions, and letting attorneys fight for better settlement offers. The best choices are not made when plaintiffs are struggling to survive financially and seem desperate to accept any small crumb offered in an insurance company settlement package.
Increasing regulation in the industry continues to help ensure plaintiffs’ interests are protected. The American Legal Finance Association (ALFA) promotes such significant regulatory practices.
Apply For Lawsuit Funding Today
There is no telling how much more of an impact COVID-19 will have on America’s justice system and personal injury settlements may be further away than most plaintiffs can wait.
Contact us today at (912)-777-3997 or apply online for approval.