At PrimeCare Network, every day presents an opportunity to support clients, deepen our understanding of the legal landscape, and tackle fresh challenges. One of the growing trends in the legal field is the increasing demand for pre-settlement funding.

When a plaintiff represented by your legal team seeks funding, you may be tasked with coordinating the application process with the chosen funding provider. This process can either be smooth sailing or fraught with complications, depending on the selected company. While you don't have a say in the client’s choice, there are essential steps you can take to streamline the process and safeguard the client's interests.

This guide offers valuable tips for facilitating the pre-settlement funding process, no matter which company is involved. We will cover:

• Key information to share with clients before they apply
• Strategies for effectively coordinating the application
• Ensuring clients secure a fair deal
• The importance of protecting sensitive information

Key Information to Share with Clients Before the Application Process

As a paralegal, you must avoid giving any information that could be perceived as legal advice. However, there are crucial general insights about pre-settlement funding that you can share. For instance, it’s wise to ask if clients have explored other financial options since pre-settlement funding is generally viewed as a last resort due to its associated fees and costs. Make sure clients understand how these fees are calculated before proceeding with their application.

Coordinating the Application Process Effectively

Being aware of common disqualification factors for pre-settlement funding can significantly enhance your coordination efforts. Understanding these issues allows you to spot potential red flags early on and communicate them effectively to the funding provider, saving everyone time and effort.

Some common reasons for disqualification include:

• Prior Funding: Many providers are hesitant to fund cases that have previously received support from other companies. Inform the funding representative about any existing liens as soon as possible.

• Soft-Tissue Injuries: While some funding companies may reject applications from clients with soft-tissue injuries, this is not universally the case. Check with the selected company’s underwriter about your client’s most significant diagnosed injury.

• Place of Residence: Not all states permit pre-settlement funding, and different companies operate in specific regions. Ensure that you communicate your client's state of residence to the funding provider.

• Case Status: Some companies require that a lawsuit be filed before providing funding. Be sure to inform them whether the lawsuit has been initiated.

Safeguarding Sensitive and Confidential Information

During the application process, you may need to share certain case details and medical documents with the funding company. It’s vital to do this carefully, ensuring that no privileged information is disclosed to third parties. Here are several strategies to protect your client’s privacy:

• HIPAA Consent Form: Request that both the funding company and the client sign a HIPAA form to authorize the release of medical information.

• Verify Client and Funder Contact: Always confirm with the client that they are applying with the company requesting documentation. This step is crucial, as some providers might reach out to law firms before consulting with clients.

• Clarify Broker or Direct Funder Status: Establish whether the funding company is a broker or a direct funder. Direct funders will likely be the only ones reviewing the documents you send, while brokers may allow multiple entities access to sensitive information.

By following these guidelines, paralegals can facilitate the pre-settlement funding process while prioritizing the interests and confidentiality of their clients. Are you considering pre-settlement funding? At PrimeCare Network, we’re here to help! Call us at 888-474-8473 or Apply Now to get started on your application today!

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Disclaimer: PrimeCare Network provides pre-settlement funding, also known as consumer litigation funding, to customers through various products depending on their state of residence or cause of action. Many clients will receive pre-settlement funding through a purchase agreement, which assigns a portion of the pending proceeds from their legal claim. Other clients, particularly in South Carolina and Colorado, may receive funding in the form of a pre-settlement loan, sometimes referred to as a lawsuit loan. These transactions differ significantly, and clients should carefully review and understand the nature of the transaction offered by any funding company.

When you're injured due to an accident, it can significantly disrupt your life—especially if you’re unable to work for weeks, months, or even longer.

When someone suffers a serious bodily injury due to the negligence of another person or company, our civil justice system allows the victim to seek financial compensation for their losses. This financial restitution is often referred to as “compensatory damages” or simply “money damages.” These damages typically cover the victim’s medical expenses, lost income, and compensation for the pain and suffering endured as a result of the incident. In more severe cases, juries may award punitive damages to provide additional compensation and signal that the defendant's actions were unacceptable and will be penalized financially.

Filing a personal injury claim does not guarantee that the victim will receive compensatory damages from the negligent party. In reality, most accident victims do not receive large settlements that allow them to retire early. According to research by Martindale-Nolo, the average personal injury settlement hovers around $53,000.

If a personal injury claim cannot be settled through negotiation, it may go to trial. However, the majority of personal injury claims—about 95-96%—are settled out of court. Those that do proceed to trial often yield significant outcomes, which can vary widely.

Here is an overview of some of the largest personal injury settlements in American history:

1. $150 Billion Awarded to a Burn Victim: An eight-year-old boy in Texas suffered horrific burns after being sexually assaulted and set on fire. He later died from skin cancer linked to his injuries. A Texas jury awarded his family $150 billion in a largely symbolic verdict, as the assailant would never be able to pay this amount.

2. $145 Billion in a Tobacco Case: A Florida jury awarded $144.8 billion to a class of consumers affected by smoking, finding that cigarette manufacturers committed conspiracy and fraud. This massive award was primarily punitive to deter future misconduct.

3. $28 Billion Awarded to a Smoker: In another tobacco case, a Los Angeles jury awarded $28 billion to Betsy Bullock, a lifelong smoker diagnosed with lung cancer after suing R.J. Reynolds.

4. $4.9 Billion in an Auto Defect Case: A jury awarded $4.9 billion to a family after their GM van exploded in an accident, resulting in disfiguring injuries for six passengers.

5. $4.69 Billion for Talc Ovarian Cancer: A Missouri jury awarded $4.69 billion to 22 women who developed ovarian cancer due to long-term use of Johnson & Johnson’s talc-based products.

6. $2.2 Billion in a Diluted Cancer Drug Case: After a pharmacist diluted chemotherapy drugs for profit, a jury awarded a cancer patient $2.2 billion in damages.

7. $60 Million to a Gas Station Manager: Following a train derailment that caused a traumatic brain injury, Donald French was awarded $60 million in damages.

8. $32.5 Million for Defective Seatbelt Injury: Mark Force suffered a traumatic brain injury due to a defective seatbelt in a car accident, leading to a $32.5 million award.

9. $27.5 Million to a Bus Accident Victim: Gloria Aguilar was awarded $27.5 million after losing a leg due to a city transit bus accident.

10. $22 Million for a Crosswalk Accident Victim: Shirley Miller received $22 million after suffering permanent brain damage from being hit by a pharmacy truck while crossing the street.

Conclusion

While these jury verdicts are not typical, they showcase the potential outcomes of personal injury lawsuits. Each case is unique, and there is no guarantee of receiving a substantial damages award through a jury trial, as outcomes can be unpredictable.

If you or a loved one has sustained a serious injury, it is essential to consult with a personal injury lawyer. Most attorneys specializing in personal injury law offer free, confidential consultations.

Additionally, if you're in need of financial support while waiting for your settlement, consider PrimeCare Network's pre-settlement cash advance options. Call us at 888-474-8473 or Apply Now.

PrimeCare Network provides pre-settlement funding, also known as consumer litigation funding, to its customers through various products depending on their state of residence or cause of action. Many consumers will receive pre-settlement funding in the form of a purchase agreement, which assigns a portion of the pending proceeds from their legal claim. Others, such as those in South Carolina and Colorado, may receive funding in the form of a pre-settlement loan, sometimes referred to as a lawsuit loan. These transactions have significant differences, so consumers should carefully review and understand the type of transaction offered by any funding company.

If you've been injured in an accident where someone else is at fault, you've probably heard advice from friends or family to "just sue."