What Is The True Cost Of Obtaining A Lawsuit Loan?
November 30th, 2009 by Dr. Tom Rhudy
The foregoing is one of the, if not the, most frequently asked questions posed to us. The problem with the question is that it is not the question individuals considering a lawsuit loan should ask!
Remember, you will not be negotiating your settlement in a vacuum. When you file your claim, it is very unlikely that the other party is going to readily admit liability. As an expert witness, I’ve testified in more than 100 personal injury cases and have never encountered a situation in which the defendant readily admitted liability if the case actually goes to trial.
It is amazing how frequently individuals who readily admit liability at the time the incident occurred, adamantly deny liability once compensation for injuries/damages sustained is pursued. In fact, in many cases, it is now you to whom liability should be ascribed, per this once docile defendant. Are you surprised? “Not really,” you hesitatingly admit.
When you file a claim against an individual who causes you harm/injury, it is likely that the individual will have an insurance carrier that will proffer a defense of its insured’s actions. Frequently, the attorney who defends the individual against whom you file your claim meets the defendant for the first time at the courthouse.
The critical thing to keep in mind is the fact that the defense attorney has no concern whatsoever, in almost all cases, about what happens to the defendant. The defense attorney’s motives are guided purely by a desire to serve the insurance carrier’s interests. Yes, I realize that formally the defense attorney has the defendant as a client. However, this is merely a shell- game!
You should also note that insurance carriers do not make money by readily paying claims. In fact, insurance carriers are held in such disdain, due to their tenacious denial of claims filed, that neither you nor your attorney will be permitted to even refer, in the presence of the jury, to the fact that the other party has an insurance carrier that will be paying the claim once it is settled. Interestingly, the mere mention of this fact may serve as a basis for the defendant to obtain a mistrial.
Make no mistake. The insurance carrier doesn’t want to pay you a penny for your claim. It is certainly not concerned with whether you receive a fair-and-equitable settlement. It is for this reason that the suit must be filed. It is for this reason that the case drags on, in many cases, for years. Your options may be to either accept a ridiculously low offer to settle your claim or obtain a lawsuit loan to assist with expenses to enable you to pursue the case to the end.
Does a lawsuit loan cost or pay? You decide.
Do you need help obtaining your lawsuit loan? If so, please visit our site and discover how to choose the best lawsuit loans for your needs.
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