It is estimated that there are more than 4,000 deaths each year linked to commercial truck accidents, and the year 2017 saw at least 170,000 people hurt, some with very serious injuries. In comparison to the size of commercial trucks, smaller passenger vehicles provide little protection for occupants when the two collide, hence the damage can result in expensive medical bills.
When injured individuals want to file a claim against the responsible parties, the victims can be faced with a barrage of trucking company officials and insurance representatives whose ultimate goal is not fair compensation for the victims. Insurance companies know that this is a perfect time to offer a low settlement amount to victims and their families, because of the immediate need for financial assistance plaintiffs may end up accepting a pittance instead of fighting for what is deserved.
In the past, there was not a viable option for these families. Now, however, third-party lending companies such as The Legal Funding Group offer claimants pre-settlement funding options that include a cash advance to give plaintiffs the ability to hold out financially while their attorneys pursue the highest settlement possible.
Establishing Liability in a Truck Accident Lawsuit
Anyone who has been injured in a wreck with a commercial truck should seek legal counsel from a highly qualified, skilled personal injury attorney as soon as possible. When a truck driver has exhibited negligent behavior or the company failed to properly maintain its fleet, the law can assign liability to the company and/or the driver. Examples of negligence include:
- Driving under the influence of drugs or alcohol
- Driver fatigue
- Reckless driving
- An improperly maintained vehicle
A victim’s potential to recover losses will depend upon their ability to establish liability and the types of losses sustained.
How Long Will a Truck Accident Settlement Take?
This will depend on the severity of the injuries and the size of the possible settlement. The worse you are injured, the higher the possible damages. This will mean that the settlement may take longer to negotiate. Remember that the insurance company’s initial offer will not always be the best, because truck accident settlements are negotiation processes. While some claims may settle in short order, this is the exception rather than the norm. It is not uncommon for truck accident settlements to be reached right before trial. This means that the settlement may take several years to negotiate. Of course, there is no hard and fast timetable for a settlement and you may be able to reach a quick settlement agreement with the insurance company. However, you should be prepared for intensive negotiations. This is where a personal injury lawyer can help you since insurance companies will often try to offer lower amounts in truck accident settlements when the claimant does not have a lawyer.
Once a settlement agreement is reached, it will not take long to get your money. However, getting your check is not instantaneous. It takes a few weeks for your payment to go through the accounting department of the insurance company, and there are still some more paperwork steps to complete. The best guess for how long it will take for your check to be issued and sent to you is roughly four to six weeks.
How a Settlement Loan Can Help
In most instances, truck accident lawsuits are not settled quickly. It is to the benefit of the trucking company and the insurance adjusters to drag out the case for a very long time. The time frame can be anywhere from several months to several years. For injured victims, this lengthy process can make it virtually impossible to remain financially stable, especially if the extent of injuries has left victims unable to work. These victims may want to consider pre-settlement funding to help sustain their normal way of life.
Commercial trucks are required to have at least $750,000 of liability insurance coverage per vehicle. This type of policy insures the truck driver for damages to property and for bodily injuries caused by the trucker. Even though there is a duty for insurance companies to act in good faith when handling claims, it is not unusual for insurers to drag out the settlement process and thus delay the payment of valid claims.
In order for individuals to receive the largest possible settlement in truck accident lawsuits, the victims’ attorneys must invest a lot of time and money. A full investigation and then the negotiation process often requires a lot of back-and-forth contact between the attorneys and insurance company representatives.
Financial pressure mounts when truck accident victims’ house payments and other living expenses can’t be paid due to lost wages. Individuals who find themselves struggling financially while enduring delay tactics from claims adjusters can now choose settlement funding as a way to cover day-to-day expenses and resist the urge to accept a low-ball offer.
How Does Truck Accident Legal Funding Work?
Legal funding allows a plaintiff to obtain cash right away instead of having to wait months or years for a personal injury case to be finalized in the court system. When a pre-settlement funder determines that a pending truck accident lawsuit will likely produce a sizable amount of compensation, the company can help the litigant receive some of the payout while the case is still pending.
Pre-settlement funding for truck accidents is not a loan. Therefore, if the plaintiff does not win the lawsuit, no payback is required. In addition, the plaintiff is able to use the money in any way he or she deems important.
Applying For Truck Accident Lawsuit Funding
To apply with The Legal Funding Group for truck accident pre-settlement funds, one must only make a quick phone call or take a moment to complete a brief application online. The whole process can typically be completed within 24 hours. It does not require lengthy paperwork or credit checks.
Our company makes the entire process simple and hassle-free, because we know most plaintiffs are not in a financial position to easily hold out for a higher settlement amount. We believe no one needs to be pressured into accepting a low settlement amount in order to survive financially. Our commitment is to help injured claimants have financial security while their lawsuit makes its way through the legal system.
The following five minimum qualifications must be met in order for a claimant to be considered for pre-settlement funding:
- 18 years old or older
- Resident of the United States
- Injured in commercial truck accident due to other driver’s negligence
- Hired an attorney to pursue legal compensation for damages
- Entitled to legally recover a financial payout from an insurance company
Contact The Legal Funding Group Right Away
If you find yourself needing financial assistance during your pending truck accident lawsuit, call The Legal Funding Group today or apply online. We have an experienced pre-settlement funding representative who will walk you through the quick process of applying for funds.