Occasionally, products released to the consumer may exit the assembly line in less-than-ideal conditions. In some cases, the product defect might not be evident until the product has injured someone. Either way, such defective products can, unfortunately, cause severe injury to users, leading victims to seek counsel from a qualified legal representative concerning damages.
Through a product liability lawsuit, injured parties can request financial compensation. However, this type of case can be in the legal system for years, while the manufacturer deflects any blame. In the meantime, victims continue to have mounting household expenses, medical costs, and the like. The ongoing financial burden can quickly take its toll, especially if victims cannot work because of their injuries. Thankfully, the option of lawsuit funding is now available to help provide financial security to victims until their cases are resolved.
Benefits of Applying for Product Liability Lawsuit Funding
The Legal Funding Group offers cash advances to injured individuals due to a defective product who have already filed a lawsuit. In many cases, applicants receive their funds within 24 hours. There are no risks involved with applying, and no credit check is necessary. Repayment of the funds is only required if the lawsuits end in favor of the victims.
Types of Claims in a Product Liability Lawsuit:
When a product flaw occurs on the assembly line, the error is deemed a manufacturing defect. This type of defect will only be found in a small percentage of the products. Product manufacturers are responsible for ensuring that no mistakes are made during the production of their goods. For an injured party to prove the manufacturer is liable, the victim must show that the product was defective when it left the factory’s doors.
While a manufacturing defect happens during production, a design defect is drawn right into the product’s blueprint. This flaw is unreasonably dangerous and is hazardous to any person using the product. By answering these three questions, one can determine whether a design defect exists:
- Before the product is produced, does the product’s design appear to be unreasonably dangerous?
- Could it be expected that the design will cause harm to users?
- Was there a safer product design that could have been implemented without significantly altering the product’s purpose?
A defective design claim may be valid if any of these three questions are answered with a yes. It would be in the injured victim’s best interest to contact an experienced product liability attorney to proceed with this claim.
Failure to Warn of Possible Risks:
If a product manufacturer does not warn users of potential risks associated with the product and a consumer gets hurt, the victim may file a product liability claim. Any entity that is part of the chain of distribution of the item can be named a defendant if proper instructions or warnings could have prevented the injury. Additionally, the same is true for naming defendants if flawed warnings/instructions contributed to the consumer’s injury.
Product Liability Settlements
Product liability lawsuits can end in quite large monetary awards. Each case, of course, depends on the level of injury and the defendant’s degree of liability. A majority of these cases are settled without going to trial, but some are tried and proceed to a verdict. According to the Insurance Information Institute, the average amount awarded by juries for product liability cases in 2017 was $5 million. Insurance companies will do everything within their power to minimize award amounts by having high-priced attorneys working hard against victims, and dragging cases out for years if necessary.
The Value of a Product Liability Lawsuit
Given the wide variety of product liability cases, it is not surprising that the value of such claims varies widely as well. The exact amount of money a plaintiff can expect to receive in a lawsuit settlement largely depends on the specific case details. For example, a case where a plaintiff was diagnosed with cancer from talcum powder use will most likely have a larger settlement than when a plaintiff suffered minor burns from a smartphone catching fire.
The crucial issue in these cases is the ability to prove that the product was at fault. If a victim’s injuries are severe enough, the case’s valuation rises and can become substantial.
The following two cases are examples of large settlements in product liability lawsuits:
- Roundup made by Bayer-Monsanto – Lawsuits numbering in the thousands has been brought by cancer patients and deceased victims’ estates against the company that makes the weed killer, Roundup. Bayer-Monsanto will be settling a majority of the current and potential cases for over $10 million.
- Talcum powder made by Johnson & Johnson – Four cancer patients will receive punitive damages of $750 million from industry giant J&J after a jury in New Jersey ruled the company’s baby powder products were responsible.
Product Liability Legal Funding Options
We can offer you a cash advance for your lawsuit during any phase of the litigation process. If you need money to help you fund your case, money before a collection, but after a settlement, or money before your settlement is completed, we can help you. We have you covered whenever you need money because we believe your legal case will be settled in your favor.
There are three main types of legal funding:
Product Liability Pre-Settlement Funding
It could take months, or even years, for a lawsuit to be settled. The Legal Funding Group provides pre-settlement funding for everyday living expenses, medical bills, legal fees, and other expenses. The money will give the plaintiffs financial security while they wait for their case to be resolved.
Product Liability Post-Settlement Funding
When a lawsuit has been resolved, but the funds have not been disbursed yet, plaintiffs can find themselves in need of cash until the payout is made. Defendants may be dragging things out by requesting an appeal, thus delaying the funds indefinitely. Here’s where our post-settlement funding can make a difference for the plaintiff by providing financial relief.
Product Liability Settlement Cash Advance
With a cash advance, plaintiffs can acquire cash in the total amount anticipated from the lawsuit settlement.
How to Qualify for a Product Liability Lawsuit Loan
If a victim fits the following criteria, product liability pre-settlement funding may help maintain financial stability during a lawsuit’s duration:
- An injury has been sustained from a defective product.
- An attorney has been obtained in a product liability lawsuit to recover damages.
After an injured victim applies for product liability pre-settlement funding through The Legal Funding Group and gives details of the claim, our company contacts the attorney for additional information to determine the amount of legal funding available for the victim.
Credit checks are not required to receive product liability legal funding, and we also do not check your financial history before approving a product liability lawsuit loan. The facts of your case will determine your approval for a loan.