Texas Cash Advance Loans

When an entity OTHER THAN the worker or even the employer is at fault, workers may use a "third party" case accessible to them. By way of example, if a machinist is injured on the job, as well as the equipment had not been properly maintained with a maintenance company (third party), the worker can pursue a claim of negligence contrary to the maintenance company in civil court. Another frequent example is every time a worker is injured for the job while driving a vehicle and the accident is caused through the negligence of the other driver. In that case, the injured worker can sue another driver as one third party.

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This is significant because the victim is now able to be compensated completely for his/her injuries instead of being limited by statutory provisions under the state compensation laws.

This is also good for the employer (insurance carrier) because any "benefits" given on the worker should be paid back if your monetary award is recovered from the third party. This is well known being a Workers' Comp Lien.

For the victim's attorney, the situation is perfect because it pertains to fees. The attorney can collect a fee for handling the workers' compensation case AND collect a contingent fee of up to 40% for the third party civil action.

Are Alternative Party Cases Good for Lawsuit Loans or Cash Advances Prior to Settlement?

The answer towards the above question (and to the majority of questions with this nature) is who's depends on a variety of factors.

In certain jurisdictions, lawsuit loan companies will not advance funds on workers' compensation claims. The presence of an third party case makes the case designed for cash advance funding in those jurisdictions where lawsuit funding companies may not otherwise fund a workers' compensation claim. Third party cases avail themselves to case loans in New Jersey, New York, Ohio, Pennsylvania, Texas, California Arizona, Maryland, Massachusetts, Michigan as well as a selection of other states. So that is good news.

The bad news could be the presence in the workers' comp lien. That amount has to be paid back from any recovery against another party. Liens are a major consideration for lawsuit funding underwriters simply because they must assess the hazards connected with advancing money prior to the case is resolved (pre-settlement). So while there may be more money available for your plaintiff and his/her attorney, the quantity designed for repayment of the advance after settlement have to be weighed so as to manage the funder's risk.

Of course the identical holds true for all those liens, not only workers' compensation liens.

Thank you for your interest inside lawsuit cash advance business.

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