Funding for Dog Bite Victims Before Settlement: All You Need To Know
In the United States, almost every person loves to keep a dog as a pet with them. But the real problem occurs when these dogs attack or bite someone. Their bites or attacks can become a severe medical issue regardless of the breed and the dog’s size. If you are a dog bite victim, you immediately need to visit a doctor to prevent any serious illness.
In case you are a victim of an unprovoked dog bite or attack, you have the option to file a lawsuit against the dog’s owner. He or she will be liable to pay you settlements or compensation for your loss.
But do you need the immediate cash for your medical bills and fulfilling any other loss due to a dog attack? Don’t worry! Pre-settlement funding can help you drag out of this situation.
Does the question about interest rates hit your mind upon listening to the word “fund”? No worries! Numerous companies can provide you the lowest pre-settlement funding. These funds are granted at the lowest possible interest rate to help you in your financial challenges.
Acquiring the pre-settlement funds means you don’t have to wait for the court decision to overcome your losses. But once you win the case, you must pay back the funds, including the interest rates.
Keep reading this article to know more about pre-settlement funding in case of a dog bite.
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What Are Pre-Settlement Loans?
Before discussing anything else, let’s quickly learn more about what a pre-settlement loan is and how it can help you.
In simple words, a pre-settlement loan is a loan that can be claimed before the settlement of your case. Let’s say you have filed a lawsuit as a victim of a personal injury case. But as the lawsuit settlement takes time, you have some expenses to fulfill. In this case, a pre-settlement loan can help you out.
But do you know what the exciting part is? A pre-settlement loan is nonrecourse. You only have to pay it back if you win the case. If you lose the lawsuit, you don’t owe any payback.
Need for Pre-Settlement Loans
Before discussing anything further, let’s first understand the need for pre-settlement loans.
As a result of a dog bite or attack, you can have a serious injury and may be unable to work for some time. In this scenario, what would you do to meet your daily expenses? Moreover, how would you manage your medical bills in such a condition?
Don’t worry! This is where you can consider pre-settlement loans as your best friend. You can acquire these loans until the settlement of your lawsuit to fulfill your basic needs.
You can also use these funds to treat the following serious medical issues due to a dog bite or attack.
- Rabies infection
If the dog which attacked you has a rabies infection, it would be serious for your health. Rabies enters the blood of humans through dogs’ saliva and can cause severe illness. It can affect your brain and if kept untreated, it can cause the death of the victim.
Every year, almost 29 million people receive post-bite vaccination to prevent rabies. To treat this disease on time, you must be able to afford the medical bills. You can acquire pre-settlement loans to help with it.
- Broken bones
In most cases, victims fall and get their bones fractured when preventing themselves from dog attacks. And, as a result, they face a huge loss in financial and physical terms. To overcome these losses, you can request a pre-settlement loan.
- Brain injury
A person can also suffer from brain injury or brain trauma due to a dog attack. This trauma can snatch his or her ability to work and earn. Pre-settlement loans can also help you in treating a victim and fulfilling the daily expenses.
Eligibility Criteria for Claiming a Pre-Settlement Loan
Before applying for a pre-settlement loan, you must know whether you are eligible for it or not. However, different lawsuit funding companies have different eligibility criteria. But here, we are going to describe the most common requirements for claiming a pre-settlement fund.
- Eligible and valid lawsuit
The first requirement for acquiring the pre-settlement loan is a valid lawsuit. Simply put, you are only eligible for getting the pre-settlement loan if you have a viable lawsuit in progress.
The first step your lawyer would take is to file a personal injury lawsuit. This is the main and vital requirement for claiming a pre-settlement loan.
- Personal injury lawyer
Having an attorney is another eligibility requirement for claiming a pre-settlement loan. Getting a lawyer will make your case strong and try their best to bring you justice. Most pre-settlement loan companies do not entertain cases that do not have lawyers.
This requirement is important as the funding companies deal directly with law firms and lawyers. Dealing with law firms makes it easier for loan companies to decide the terms and conditions.
- Eligible case type
The eligible case type is the next eligibility requirement for claiming a pre-settlement loan. Not all types of cases are granted with pre-settlement loans. So, to acquire these loans, your case type should be eligible.
Most loan companies find the following cases as qualified for the pre-settlement loan.
Frequently Asked Questions About Dog Bite Pre-Settlement Loan
- Do I need a lawyer to claim a pre-settlement loan for a dog bite?
The simple answer is yes. It is one of the eligibility requirements of the funding companies. This is because the law of dog bites is a bit complex, and you need a lawyer to understand everything clearly.
- How to prove that the dog owner is liable for my injury?
You can prove the liability of the dog owner by providing the evidence. The evidence should be based on the tendency of the dog to bite someone. Once you prove it, you can sue the dog owner for neglecting his dog’s biting tendency.
If you are a personal injury victim and have an ongoing lawsuit, you can claim pre-settlement loans. Pre-settlement loans can help you fulfill your daily expenses and the medical bills of the victims. However, you need to be eligible for claiming a lawsuit loan.
But the good factor about these loans is they are nonrecourse. If you win the case, you have to repay the loan. Otherwise, you are not required to pay it back.