LOS ANGELES, CA / ACCESSWIRE / August 1, 2022 / According to the Bureau of Justice Statistics, more than 300,000-500,000 personal injury cases are filed annually. Similarly, tens of millions of insurance claims are filed across the United States each year.
In the US, victims of personal injuries, accidents, and damage caused by a wide range of factors, are often entitled under state and federal laws to file an insurance claim or lawsuit seeking compensation.
Although effective, pursuing compensation both in and out of court is a tedious, lengthy, and often frustrating experience, leaving victims and their families to foot the bills until a settlement is reached and a check issued.
Life doesn't wait, and with Stonewood Funding, victims and their families don't have to either. This quarter, Stonewood Funding highlights its innovative legal funding and pre-settlement loan services, helping victims and their families get access to the money they need now, not later.
Lengthy Settlement Timeframes Leave Californians with Mounting Debt, Causing a Rise in Pre-settlement Funding
Although some cases and claims are straightforward, the vast majority of claims in California are complex, with the opposing party or parties working to aggressively delay cutting a check.
Settlements from insurance companies or court cases can take months to years to finalize, putting victims and their families at risk of significant financial hardship. According to data published by NOLO, the average time to achieve a favorable verdict or signed settlement agreement is 11.4 months. Those who fall outside of the average range can sometimes end up waiting for up to 2-3 years before seeing the compensation they're owed.
In many cases, injuries sustained from accidents result in time off work, inability to maintain the same type of employment, mounting medical bills, and more. This puts victims in a tight spot, often with nowhere to turn for assistance as they struggle to keep financially afloat.
The Rise in Pre-settlement Funding and Legal Loans in California
In the past, those awaiting a settlement were left with little recourse or assistance. Today, the advent of innovative funding and no-risk legal financing is giving victims their lives back.
Since its inception, Stonewood Funding has been at the forefront of such services, providing financial relief to those in need. Sometimes referred to as a ‘lawsuit loan', these offers are made ‘risk-free', with the customer only held liable for repayment if and when they win their case or sign a settlement.
The Current Economic Climate: adding insult to injury
Today's economy has everyone feeling the pinch of inflation and rising costs of living. From the gas pump to the supermarket, the temperature isn't the only thing going up this summer.
According to the New York Post and data from Moody's Analytics, American households are paying an average of $460 more per month.
This Breaks Down to:
107% more for fuel costs
48% more for gas
37.8% more for air travel
11.9% more for groceries (with meat up between 14-17%)
12% more for electricity
Making matters worse, Bankrate reports that only 40% of Americans could handle an unexpected expense of $1000. This means that around 60% of households are just one emergency or injury away from potential financial ruin.
For those awaiting a settlement, additional expenses, time off work, medical bills, and other unexpected expenses could mean financial ruin.
How Stonewood Funding is Transforming the Way Those Awaiting Settlements Get Access to Money Fast
Traditionally, those awaiting a settlement were left with few options to support themselves and their families while waiting for a check. Today, Stonewood Funding is there to help.
Pre-settlement funding, or lawsuit loans, are a financial tool available to those pursuing compensation through legal avenues.
How Pre-Settlement Funding Works
Applicants Apply Risk-Free: There are no fees or charges for filling out an application or accepting a loan, and no obligation to accept if approved.
Only Pay When the Settlement Goes Through: Each loan is offered ‘risk-free', meaning that the applicant is only responsible for paying the loan back if they win their case or arrive at a settlement.
Fast, Easy, and Secure: Stonewood Financing has made the application process a breeze, using intuitive forms and ensuring data security and privacy are paramount considerations.
Low, Transparent Rates: Taking pride in being honest, ethical, and transparent, there are no hidden fees and rates are highly competitive, being among the lowest in the industry.
About Stonewood Funding
Headquartered out of Los Angeles, CA, Stonewood Funding is a lawsuit funding provider, offering Californians who are awaiting settlements a means to support themselves and their families until their compensation comes through.
Stonewood Funding understands that ensuring the wait of a lengthy settlement can take its toll both emotionally and financially. Working with each client, they offer patience, understanding, and transparency with every step of the funding process. Offering fair and affordable rates, clients can gain access to the funds they so desperately need with just a few simple steps.
Those awaiting compensation from a lawsuit or settlement and in need of funds now, are encouraged to reach out to Stonewood Funding by way of their official website, or by calling 844-544-3863.
SOURCE: Stonewood Funding
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