It is no exaggeration that we entrust our lives to doctors and trained medical professionals. We depend on them to treat our illnesses and injuries but suppose they cause injury or death due to negligence or lack of care.
In that case, they can get sued for medical malpractice under the laws of the state where the incident occurred. The medical professionals we seek help from are supposed to have a high standard of care because one mistake on their end can cause severe damage.
Medical malpractice lawsuits are not easy to win and often take a considerable amount of time to settle. You may be unable to work, pay your bills, or do much of anything financially during this long period. Instead of letting debt continue to grow, tackle it head-on with the legal funding from High Rise Financial.
The Value of Your Medical Malpractice Claim
When you file a medical malpractice lawsuit, it is normal to wonder how much you could be awarded. You have the right to be compensated for every loss you suffered as a result of your doctor or other healthcare provider’s negligence.
To accurately account for your losses in full, your lawyer will quantify damages by separating them into categories known as economic damages and non-economic damages. Here is more:
Economic Damages
Economic damages describe all of your monetary losses. They include any type of out-of-pocket financial expenses, bills, debts, and other costs related to your medical malpractice claim. You could be awarded a variety of economic damages in medical malpractice claims, such as:
- Diminished earning potential such as loss of bonuses, salary increases, and loss of contributions to your 401(k) or other retirement savings account
- Current medical expenses, including ambulance bills, hospital debts, diagnostic imaging fees, cost of prescription medications, mental health counseling fees, medical equipment costs, the accommodations union to your home, and your future medical expenses as well
- Loss of income, whether you are an hourly or salaried employee
- Costs of increased health insurance premiums
- Unexpected childcare fees and household maintenance expenses
Non-Economic Damages
You also have the right to be compensated for your non-economic damages. While economic damages describe your monetary losses, non-economic damages encompass your physical and emotional trauma. Some of the more common types of non-economic damages you could recover in a medical malpractice lawsuit include:
- Physical pain and suffering
- Loss of protection and support
- Loss of advice and guidance
- Loss of companionship in love
- Loss of society
- Emotional trauma and mental anguish
- Dismemberment, skin scarring, and disfigurement
- Diminished quality of life
- Damage to your personal and professional reputations
- Inconvenience
Punitive Damages
Many medical malpractice victims wonder whether they could be awarded punitive damages as part of their case. Many people assume that if you are awarded punitive damages, your settlement could be significantly increased. While this may be the case in some instances, it is important to remember that punitive damages are not a common occurrence.
Punitive damages are awarded in cases where the jury finds the defendant’s actions intolerable. The defendant may have acted in gross negligence or committed an intentional or wrongful act. However, punitive damages are intended to punish the defendant, not award the victim.
If you are awarded punitive damages, it is important to remember that this is not a right you have but a way for the court system to let your community know that they will not tolerate similar actions in the future.
Where Is Your Compensation Coming from?
There are multiple ways in which victims can be awarded compensation for their suffering. In the vast majority of instances, liable parties are represented by some type of insurance policy. Some examples of these types of insurance coverage could include:
- Renter’s insurance
- Homeowner’s insurance
- General liability insurance
- Business insurance
- Health insurance
- Malpractice insurance
- Auto insurance
Malpractice Cases
Healthcare providers are almost always protected by malpractice insurance. The healthcare industry is not immune to human error. Healthcare providers take steps to protect themselves from liability by purchasing malpractice insurance.
When someone is injured due to a medical error, the victim can then file a claim with the liable party’s malpractice insurance provider to recover compensation for their damages. However, dealing with the insurance company may prove to be more challenging than you thought. More than that, an insurance settlement may not be enough to meet your needs.
If the amount of malpractice coverage purchased by the liable party does not adequately cover your damages, you may have no other choice but to move forward with a lawsuit against the liable party.
Trial
At trial, instead of being limited by the types and amounts of coverage purchased by the reckless healthcare provider in your case, you can be compensated for every single loss. Your lawyer can give you a better idea of whether an insurance settlement or civil claim is most likely to produce the compensation that you are entitled to.
Insurance Companies Aren’t Going to Play Fair
You should never assume that the insurance companies are going to play fair. Medical malpractice lawsuits can cost them hundreds of thousands of dollars. Unfortunately, insurance companies are businesses, and they will often use various methods to try and avoid paying you the full amount of compensation you deserve.
The most common way they do this is by dragging out the settlement process in court or during negotiations, especially if your settlement is potentially worth a lot. Your medical malpractice injuries could leave you unable to work or support yourself financially. Because of this, you may be relying on financial compensation to help you stay afloat.
Insurance companies know that you are likely facing a challenging financial situation and seek to exploit your predicament. By constantly lengthening the settlement process, you will eventually be more likely to settle for less as long as it means that you finally get some money. Then, once you agree to a lower settlement, they wash themselves clean of any obligation they had to pay you fair compensation.
What Is a Lawsuit Loan?
A lawsuit loan allows you to obtain the compensation you need when you are struggling to cope financially. If you are currently in the processing phase of an insurance claim or are in the middle of a civil lawsuit and are awaiting your settlement funds, you may be eligible for a lawsuit loan. However, lawsuit loves are not like regular loans.
With a regular loan, you may need to approach a financial institution and have a good credit score to get approved for a loan that you need to pay back, with interest. However, our non-recourse lawsuit loans at High Rise Financial are different. You do not need to have a good credit score, you do not need to have a steady income, and you do not need to worry about paying us back if your lawyer does not win your case.
How does Legal Funding Help Me Fight Back Against a Long Settlement Process?
With legal funding, you can get cash fast to use for all your bills and expenses. You don’t have to deal with the pressure of debt continuously growing while waiting for your settlement to come through. Our legal funding is not restrictive, and you can use it to pay off:
- Rent or mortgage payments
- School or tuition fees
- Car payments
- Groceries, utilities, and other various living expenses
- Medical treatment
In short, with personal injury legal funding, you can afford to wait a long time for your settlement. This allows you to remain comfortable and gives your lawyers time to successfully win your case.
What’s the Catch if I Receive Pre-Settlement Funding?
There is no catch to our legal funding. We aim to be honest and transparent and will always put your financial needs first above anything else. Our guarantee to you is that:
- We will never sell or reveal any of your personal information
- We will never breach your attorney-client privilege
- We will always keep you involved and informed every step of the way
- Our legal funding isn’t like some other lawsuit loans. Instead, it is a non-recourse source of funds that gets provided to you risk-free.
The Internal Revenue Service (IRS) defines non-recourse debts as not being liable to those that receive them. In other words, if you don’t win compensation for your medical malpractice lawsuit, you don’t have to pay us back for the money you received.
Do I Qualify for Legal Funding for My Medical Malpractice Lawsuit?
If you were harmed by negligence by a medical professional, you might be eligible for medical malpractice funding. We will review your compensation case and decide whether your case qualifies for funding from us. Medical malpractice lawsuit funding is not based on your credit history. Instead, we base our decisions on the strength of your suit.
If your case is strong and it seems likely that you will recover compensation from the liable party, your funding will be approved. The best thing you can do both for your lawsuit and to improve your odds of getting your medical malpractice lawsuit funding approved is to hire an experienced medical malpractice lawyer.
How do I Apply for Legal Funding?
Applying for legal funding is extremely straightforward:
- Submit your application online
- Wait for our financial team to review your application
- Get approved and receive the money you need
Our application process is swift, and you can get approval within 24 hours. There is no need to wait days on end to receive an answer from us.
Our financial experts work quickly to bring you the cash you requested, whether you need Truvada defective drug lawsuit funding, legal funding for a malfunctioning medical device, or another form of medical malpractice you suffered.
Do I Need to Have Good Credit for a Medical Malpractice Lawsuit Loan?
You do not need to provide any supporting financial documents or submit a credit check when you apply. Our legal funding at High Rise Financial does not require any of this information for qualification. The only information you need to deliver is on the application.
Applying for Medical Malpractice Lawsuit Funding Is Risk-Free
When you apply for medical malpractice lawsuit funding, you don’t have to worry about whether or not you will be able to repay the money you borrow. If you recover compensation from the liable party, the money you borrowed will be repaid directly from the compensation you receive. You will not have to pay any of the money out of your own pocket.
If you don’t recover compensation, you don’t have to repay the money. We assume all the risks. If we approve your funding, it means that we feel strongly enough that you will recover compensation that we are willing to take the financial hit in the event that you do not.
Get the Cash You Need Today with High Rise Financial
Going through a medical malpractice lawsuit is already taxing enough. The last thing you need is additional stress from your financial obligations. Don’t let the insurance companies take advantage of your situation.
Instead, reclaim control over your life and get the best settlement possible with legal funding from High Rise Financial. Reach us by phone or online to apply.
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