Here Are The Keys That Will Unlock The Doors To Settlement Loans. (Part 2)

In a previous article, we talked about ways in which the plaintiff may go about satisfying certain elements in a "negligence" lawsuit. The issues on which we primarily focused dealt with the "reasonable person" standard and the "duty" the defendant owed to the plaintiff at the time the injury occurred. Prior to proceeding in a "negligence" lawsuit, it is necessary that the plaintiff establish both of these elements.

However, when pursuing either lawsuit funding or lawsuit loans, it is absolutely essential that damages be clearly established. In this particular article, we will discuss elements required to establish damages, as well as additional features that will be required when pursuing pre-settlement loans.

It is amazing to see how frequently individuals who apply for lawsuit settlement loans fail to specifically identify the damages that serve as the predicate for obtaining either the lawsuit loan or lawsuit funding. It is essential that the plaintiff understand that when attempting to obtain legal settlement loans, the funding that may be advanced will be determined, at least to a large extent, by the damages that are clearly demonstrated, as well as the satisfaction of other elements in the lawsuit. If the plaintiff is not going to go to the trouble to identify the damages sustained, the plaintiff is, for the most part, wasting his/her time in even filing an application to obtain settlement funding.

It is quite reasonable to ask, "If damages are so important, how do I determine what damages I've sustained? Additionally, how do I go about assessing the economic loss of those damages?" The damages may come in numerous forms. However, some of the more frequent forms of damages that serve as the basis of "negligence" actions are injury sustained as a result of a car wreck, injuries sustained as a result of discriminatory practices (e.g., employment discrimination), losses resulting from a breach of contract, losses resulting from a failure to maintain a safe and habitable environment (e.g., premises liability), injury sustained as a result of a dog bite, and wrongful termination of employment.

What are the damages the plaintiff may plead when pursuing civil litigation? A few examples of the damages that may be pled are medical expenses, vehicle repair, loss of consortium, loss of opportunity, loss of income, and loss of enjoyment of habitability. The plaintiff's duty in establishing damages will be to demonstrate the approximate economic loss resulting from defendant's actions.

Let's take a look for a moment of medical expenses. Some factors that may need to be taken into consideration are fees related to emergency medical personnel called to the scene. Additionally, there may be expenses relating to having an ambulance arrive at the scene and transport the plaintiff to either an emergency room or a medical facility. Once admitted to an emergency room, there'll be separate expenses related to not only be emergency room visit, but the emergency room physicians as well. If the plaintiff is admitted to the hospital, there will be obvious expenses related to that hospital stay. Additionally, if the patient is admitted for observation in an outpatient medical facility, such expenses must also be taken into consideration. If surgery is necessary, the plaintiff will have not only the fees related to the surgery, but also fees related to anesthesiology, surgical-equipment/supplies, post-op rehab, etc. Each and every one of these expenses must be carefully identified and reported if the plaintiff wishes to be compensated for those damages.

For those plaintiffs who seek pre-settlement loans, it is essential that they clearly establish damages sustained. All damages sustained should be carefully considered. Furthermore, it will be essential for the plaintiff to carefully calculate the value of each one of those damages. It will be necessary for the plaintiff to translate the damages sustained into an economic loss that either the Court or jury may appreciate. Remember, if the plaintiff fails to identify damages prior to settling his/her claim, the plaintiff will be forever barred from being able to receive compensation for those damages.

In almost every instance, the plaintiff will be required to release the defendant from all future expenses (i.e., "hold-harmless" agreement). The agreement into which the plaintiff and defendant will enter precludes the defendant from being responsible for any additional expenses related to the incident that served as the basis for the plaintiff's claim. The sole basis on which the funding-entity's determination will be made with respect to the lawsuit settlement loan sought would be the plaintiff's ability to clearly establish the link between the damages sustained in the underlying claim. Remember, to prevail in the underlying lawsuit, the plaintiff must establish the following: (1) the defendant owed the plaintiff a duty; (2) the defendant failed to exercise that duty as would a "reasonable person;" and (3) the plaintiff suffered damages as a results of defendant's actions.

Do you think a lawsuit settlement loan is right for you? Would you like to learn more about lawsuit funding? Please visit us today and you may apply online for lawsuit funding and learn more about the benefits of litigation funding.