What Information Is Needed For Lawsuit Funding?

There are many things necessary in order for a person to receive legal financing

. Aside from being the plaintiff involved in a civil lawsuit, they must produce a lot of paperwork and information to the settlement funding company. This is often the same type of documentation required to give to their own attorney, but some of it is different. If any of it has not already been produced to the plaintiff's attorney, it can usually be obtained by asking for it either verbally or in writing if the person does not already have it.

Accidents

One of the most common types of lawsuit funding cases is the accident. This involves either a slip and fall injury or a motor vehicle incident. The plaintiff must produce important information that provides details, such as an incident report, proof of injury and proof of insurance coverage. Car accident reports can be obtained from the police department and insurance company claims department. If there are no reports, witness statements may be used instead. When it relates to a work injury, the person must bring copies of the incident report from the human resources department. Any paramedic reports, charts, doctor's notes, hospital paperwork or health insurance reports should also be included. The proper procedure must be followed or the information may not be given to the person asking for it.

Medical Malpractice

When a plaintiff in a medical malpractice case is seeking pre-settlement funding, there is even more paperwork involved. Copies of doctor and hospital records must be produced. This helps the research team from the legal financing company to understand the case better. The better they understand the case, the easier it is for them to decide if the plaintiff is eligible for lawsuit financing.

Delays

The number one reason for delay in determining whether a person qualifies for monetary compensation from the lawsuit financing company is that the paperwork is not produced. Often times, it is simply a matter of making multiple copies or scans of paperwork that the person's attorney already has. If that is the issue, either the plaintiff or the attorney needs to take the time to give them the documentation. Other times, there are release forms that must be signed before medical information can be sent. This is usually because of Health Insurance Portability and Accountability Act of 1996 (HIPAA).

Evaluation

Once all of the necessary paperwork has been received by the underwriters, they can begin evaluating the plaintiff's case. They will then decide if the case has merits and if it is a good risk to provide a cash advance. This is not actually a loan, but a cash advance that does not have to be repaid if the person does not recover damages in the lawsuit.

by: Christine Harrell

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