Product Liability Lawsuit Loans
If you suffer injury as a result of a defective product, you may have grounds for a lawsuit and eventual settlement. However, waiting for your lawsuit to settle might be difficult, especially if you can’t work because of your injuries. Product liability lawsuit loans can help bridge the gap between injury and settlement, giving you the wherewithal to fight back.
When you buy a product, you expect it to work as advertised. More importantly, you expect it to be as safe as advertised. Unfortunately, that’s not always how things work out.
Injuries can happen every day because of faulty products. For some who work with machines, it may be more common. People in factories are vulnerable to product liability cases because they use other people’s products daily. Products typically fail according to three separate categories: design, manufacturing, or marketing.
It’s not just people who work at factories that are at risk, though. A part in your car could suddenly malfunction and break, putting you in danger. Often times companies make recall notices on defective parts, but that’s usually after a number of complaints have already come in. By then, it could be too late. Here’s a few examples of products with known issues:
- Takata airbags
- GM ignition switches
- Pressure cookers
- Blender blade problems
- Surge protector fires
How Long Until My Product Liability Lawsuit Settles?
Despite the various types of accident cases, they all have one thing in common. If the insurance company has its way, you won’t be settling anytime soon. Insurance companies profit the longer a case takes to settle. This is because they have more money than the plaintiffs do. And if a plaintiff is getting desperate for money, the insurance company can usually get by with a low offer. The client will often take it just because they need the cash.
That’s not very fair. Why should an insurance company win? They weren’t injured. They didn’t lose time from work or, worse yet, a finger or an eye. They haven’t had to change their entire life.
But that’s the way the system had been set up. Fortunately, legal funding has helped change how plaintiffs fight back against insurance companies.
How Much is My Product Liability Case Worth?
There is a wide range of values because there are many different types of cases. If a piece of machinery at work breaks and cuts you, that’s going to be a problem but not worth a million bucks. If your brand new tire explodes and causes you to careen into a ditch and break your leg, you’ll have a bigger case.
Because of the wide range of case types, it’s impossible to answer one answer. However, if you can prove the product was indeed at fault, you’re onto something. If your injuries are bad enough (like if you’ve had to have corrective surgery), then the value goes up. These cases can be huge in terms of value. One product liability wrongful death case was awarded over $79 million.
Here are two examples of settlements for large product liability class action cases:
Takata airbags: most recall recipients will be eligible for around $500 due to a 2017 settlement just for having a defective airbag. If you had an injury, you could get much more. One settlement for Takata airbags went for $3 million.
GM Ignition Switch: There was a recent $900 million settlement to take care of around 1,500 victims. The degree of injury suffered largely determined each plaintiff’s share.
A lawsuit loan company’s evaluation of your case will often give you an idea of the conservative settlement value of your case, but your attorney is usually your best resource.
Uplift Legal Funding
Litigation finance is the field of companies helping plaintiffs outlast the insurance companies. By providing loans during the suit, funders help plaintiffs obtain the true values for their cases. If plaintiffs aren’t desperate for money, they can hold out and receive get full value for their pain and suffering. Here’s how you can get qualified for a pre-settlement loan:
- Have an accident caused by a defective product
- Already have an attorney
- Be 18 years or older
- Call us (800) 385-3660 or apply online.
We will get the information from your lawyer and if approved get money in your hands within days or even hours! We have among the lowest rates in the industry. We can help you get your full payment and not let the insurance companies win. Call us to apply today.