Witness Statements and Legal Funding

The Impact of Witness Statements on Legal Funding

Witness statements play a vital role in legal proceedings and their importance extends to the domain of legal funding as well. These testimonies provide a firsthand account of the incident being legally contested, offering imperative insights into the cases. They help depict an accurate picture, serving as one of the key bases for constructing a strong claim. Yet, their role doesn’t stop at influencing the verdicts.

In the landscape of legal finance, witness statements are often evaluated to appraise the strength and validity of the case upfront. It helps funding firms like Uplift Legal Funding make informed decisions about the financial value of a case and the feasibility of its funding. A persuasive witness statement can significantly bolster a case, thereby increasing its chances of securing favorable legal funding.

What Part do Witness Statements Play in Legal Funding Decisions?

As the injured party or plaintiff in a personal injury lawsuit, witness statements add validity to your liability claim. A witness can confirm your detailed account actually happened, or even add additional facts that you were unaware of. This solidifies your case, making it easier for a judge or jury to hold the defendant liable. In addition, a witness does not have to necessarily be present when the accident occurs. Even if the witness arrives at the scene after the fact, they can confirm that you were injured and what the scene looked like.

Lawsuit funding companies do their best to make sure they invest in cases where they get their money back. Witness statements can serve as primary supporting evidence of liability for legal funding underwriters. With premises liability claims, having one of the following: witness statement, incident report; photos; or videos; can be a prerequisite for funding.

How to Put Together a Witness Statement

After the incident, and as soon as you can, obtain the witness names and contact information. Lost witness contacts are lost evidence. The longer you take to get these witness accounts, the more likely your witnesses will not remember the situation accurately. For the most accurate and detailed accounts, it’s best to get them immediately after the accident.

Follow these guidelines when approaching a witness:

• Get their name, address, and contact number. It is important to remember, however, not to pester them for this information. They need to be on your side, so take what they are willing to give you.
• Ask them what they saw and if they’d be willing to give a written statement about the accident.
• Ask for their permission to write their account down. If they agree, be sure to send them the typed copy (to confirm it’s accurate) and get their signature.

Uplift Legal Funding

Witness statements help establish liability and make your case much stronger. The stronger the case, the more potential for legal funding. Funders like to see hard evidence of negligence, especially for premises liability lawsuit loans or car accident loans. A witness is able to vouch for you, providing extra evidence that makes your lawsuit appear much less risky to funders.

Are you a part of an ongoing personal injury case? Get informed on how legal funding works and apply online or give us a call at (800) 385-3660.