The resolution of personal injury lawsuits in Georgia can take months or even years, and in the meantime, bills don’t stop coming. Medical expenses, lost wages, and daily costs can quickly add up, creating financial stress when you should be focused on recovery. Pre-settlement funding can help by providing cash in advance, so you’re not forced to settle for less than you deserve just to stay afloat.
This guide will explain the ins and outs of pre-settlement funding in Georgia, including how it works, what types of cases are covered, who qualifies, and what to consider before applying. With the right information, you can decide if this financial option is the right fit for your situation.
What Is Pre-Settlement Funding?
Pre-settlement funding provides cash to plaintiffs in personal injury lawsuits who need financial support while waiting for their case to settle. Although it’s sometimes incorrectly referred to as a lawsuit loan in Georgia, there are key differences that set it apart.
Unlike a loan, pre-settlement funding is non-recourse, meaning you only repay the funds if you win or settle your case. There are no monthly payments, and repayment comes directly from your settlement amount. Additionally, the approval process is based on the strength of your case. This makes it a valuable option for those facing financial strain while their legal battle continues.
Who Needs Pre-Settlement Funding?
Pre-settlement funding is designed for individuals who are struggling financially while waiting for their personal injury case to resolve. Many plaintiffs rely on this funding because their accident left them unable to work, and they’re facing mounting medical bills, rent, and other daily expenses.
For example, imagine Sarah, a restaurant server on her way to work in Atlanta who was injured in a car accident on Peachtree Street caused by a distracted driver. Her injuries require ongoing physical therapy, and she’s unable to return to work for months. While her attorney fights for a fair settlement, her savings are running out, and she’s worried about falling behind on rent and medical bills. Georgia pre-settlement funding gives her the financial support she needs to cover her essential expenses.
How Pre-Settlement Funding Works In Georgia
The process of obtaining lawsuit pre-settlement funds in Georgia is much simpler than applying for a loan. Prior to applying for pre-settlement funding, it is important to first discuss with your attorney whether pre-settlement funding is right for you.
Here’s how it works:
- Requesting the funding – You apply for pre-settlement funding by providing details about your case.
- Receiving the funding – If approved, you’ll receive your funds, typically within 24 to 48 hours.
- Repaying the funding – Repayment happens only if you win or settle your case. The agreed-upon amount is deducted directly from your settlement, so you never have to worry about out-of-pocket payments. If you lose your case, you owe nothing.
Importance of Pre-Settlement Funding In Georgia
Pre-settlement funding provides financial relief to individuals waiting for their personal injury case to resolve. One of the biggest advantages is that it allows plaintiffs to avoid accepting a low settlement out of desperation. Insurance companies often try to pressure injured individuals into settling quickly for less than they deserve, knowing they may be struggling financially. Pre-settlement funding gives plaintiffs the breathing room they need to hold out for a fair payout, ensuring they have the financial stability to see their case through to the best possible outcome.
Types of Pre-Settlement Funding
While car accident and slip-and-fall cases are some of the most common reasons people seek pre-settlement funding, this type of financial assistance isn’t limited to just those claims. Pre-settlement funding in Atlanta and throughout Georgia is available for a wide range of personal injury cases, including medical malpractice, product liability, and more.
How Does Pre-Settlement Funding Work In Georgia?
Getting pre-settlement funding in Georgia is a straightforward process designed to provide financial relief quickly. It involves four main steps: submitting an application, having your case evaluated by the funding company, receiving approval, and getting your funds disbursed.
Applying for Pre-Settlement Funding
The first step in applying for pre-settlement funding is submitting an application. To get started, you’ll need basic information about your injury and lawsuit. Be prepared to provide details such as your attorney’s contact information, the type of case (e.g., car accident, slip & fall), and an overview of your injuries.
Keep in mind that you must have an active injury claim, and your injury must be directly related to the type of lawsuit you’re filing.
Who Can Apply for Pre-Settlement Funding?
Pre-settlement funding can benefit anyone involved in a personal injury lawsuit who is struggling to cover expenses while waiting for their case to settle. Anyone who meets the following criteria can apply:
- You have an active injury claim.
- Your injury is related to the type of lawsuit you’re filing (e.g., car accident, slip & fall).
- You are a resident of the state where you’re applying for funding (e.g., Georgia).
Pre-Settlement Funding – Plaintiff
The application is straightforward and can be completed directly with the funding company, allowing you to quickly access the support you need while your case is still ongoing.
Case Evaluation
Once you’ve submitted your application, the funding company will evaluate your case to determine how much you can borrow. Several key factors will be considered to assess your potential settlement:
- Type of case: The lender will review whether your injury claim is related to a common personal injury case, such as a car accident or slip & fall.
- Case strength: The likelihood of winning or reaching a fair settlement will be considered based on evidence, witness statements, and your attorney’s input.
- Injury severity: The severity of your injuries and medical treatment required will help determine the potential value of your case.
- Estimated settlement amount: The lender will consider how much you’re expected to receive from the settlement to ensure the loan amount aligns with the potential recovery.
Funding Approval
The approval process is typically quick, often taking 24 to 48 hours. The approval process is straightforward, and if your case meets the necessary criteria, you can expect a fast response to help you get the funds you need.
Pre-Settlement Funding Process
Once approved, the funds are typically disbursed quickly, often within 24 to 48 hours. The entire approved amount is provided at once, and you’ll receive the money through a direct deposit, money transfer or check, depending on the funder’s process.
Types of Pre-Settlement Funding In Georgia
Pre-settlement funding can be applied to a variety of personal injury cases in Georgia. Common cases include auto accidents and slip & fall injuries, but many other types of personal injury lawsuits are also eligible for funding.
Car Accident
Auto accident cases in Georgia can involve a wide range of vehicles and scenarios. Drivers and passengers in cars, trucks, motorcycles, and even large semi-trucks are eligible for pre-settlement funding, provided the accident was caused by someone else’s negligence. However, accidents involving non-motorized vehicles (like bicycles or pedestrians) and watercraft (such as boats) are generally not covered under auto accident pre-settlement funding.
For example, imagine a motorcyclist in downtown Atlanta who is rear-ended by a distracted driver at the busy intersection of Peachtree Street and 14th Street. The rider suffers serious injuries, and with mounting medical bills, they need financial help while waiting for their case to settle. Pre-settlement funding can help cover those expenses during the lengthy legal process.
How Much Money Could You Earn From A Car Crash Lawsuit in Georgia?
The amount you can potentially receive from a car crash lawsuit in Georgia depends on several key factors:
- The Amount of Damages You Receive
Damages include both economic (e.g., medical bills, lost wages) and non-economic (e.g., pain and suffering) losses. Georgia has no cap on non-economic damages, so your compensation depends on injury severity. - The Other Party’s Level of Fault in the Accident
Georgia uses a modified comparative negligence rule. If you’re less than 50% at fault, your damages are reduced by your percentage of fault. If you’re 50% or more at fault, you can’t recover damages. - Car Accident Liability and Damages Laws in Georgia
Georgia follows an at-fault system, meaning the responsible party pays for damages. Drivers must have minimum insurance: $25,000 for bodily injury per person, $50,000 per accident, and $25,000 for property damage. - The Level of Insurance Coverage the Other Party Has
The amount you can recover depends on the at-fault party’s insurance. If they don’t have enough coverage, your own underinsured motorist (UIM) coverage can help, or you may need to pursue the responsible party’s assets.
The more severe the injuries and damages, the higher the potential payout, but each of these elements can influence the final outcome of your case.
Premises Negligence (Slip & Fall)
In public spaces, premises negligence can lead to a wide range of injuries. When a property owner or business fails to maintain a safe environment, they may be held liable for any harm that occurs as a result. Common types of injuries include:
- Slip and fall injuries: Wet floors, uneven surfaces, or poorly maintained walkways can cause slips, falls, and sprains.
- Head injuries: Poor lighting, defective stairs, or hazards like falling objects can lead to serious head trauma.
- Burns: Faulty electrical equipment, exposed hot surfaces, or inadequate safety protocols can cause burns.
- Lacerations: Broken glass, sharp objects, or poorly maintained fixtures can cause cuts and puncture wounds.
As an example, say a shopper at the Lenox Square Mall in Atlanta slips on a wet floor in the food court, suffering a serious head injury. The spill wasn’t cleaned up promptly, and there were no warning signs to alert customers. In this case, the mall could be held liable for the shopper’s injuries due to negligence in maintaining a safe environment, and the injured person could pursue a lawsuit to cover medical expenses and damages.
Construction Negligence
Construction negligence occurs when a party fails to adhere to established safety standards or contractual obligations, leading to accidents and injuries on construction sites. Such negligence can result in lawsuits seeking compensation for damages. Examples include:
- Failure to follow safety protocols: Not adhering to safety regulations can lead to accidents. For instance, a contractor’s failure to implement proper fall protection measures can result in workers falling from heights.
- Defective workmanship: Substandard construction practices can cause structural failures. An example is a contractor using inferior materials that compromise the integrity of a building.
- Inadequate site maintenance: Neglecting to maintain a clean and organized construction site can lead to accidents. For example, leaving tools and debris scattered can cause tripping hazards.
One instance in which this can occur is if a Georgia construction worker is injured after falling from an unprotected scaffold at a site in downtown Atlanta because the contractor failed to implement required safety measures. This can lead to a lawsuit for negligence.
General Negligence
General negligence occurs when an individual or entity fails to exercise reasonable care, resulting in harm to another person. Such negligence can lead to various types of lawsuits, including:
- Motor vehicle accidents: A driver running a red light and causing a collision.
- Premises liability: A store owner neglecting to clean up a spill, leading to a customer slipping and falling.
- Medical malpractice: A healthcare provider administering the wrong medication to a patient.
Imagine that a Georgia resident slips on a wet floor at a local grocery store in Savannah, where the store failed to put up proper warning signs. This can lead to a lawsuit for premises liability due to general negligence.
Pedestrian Injury
Pedestrian injuries can occur when a motor vehicle or non-motorized vehicle strikes an individual, often due to driver negligence, poor road conditions, or failure to follow traffic laws.
- Automobile accidents: A pedestrian may be hit by a car running a red light, failing to yield at a crosswalk, or distracted driving.
- Non-motorized vehicles: Injuries can also happen when a pedestrian is struck by a cyclist, scooter, or skateboard, particularly when these riders don’t follow pedestrian safety rules.
For instance, a pedestrian in Atlanta is struck by a cyclist riding on the sidewalk against traffic who failed to stop at a crosswalk near Ponce City Market. This resulted in serious injury, so the pedestrian could pursue a lawsuit against the cyclist for negligence and failure to obey traffic rules.
Wrongful Death
Wrongful death refers to a death caused by the negligence, recklessness, or intentional actions of another party, where surviving family members may seek compensation for their loss. This can result from accidents, medical malpractice, or even criminal behavior.
To illustrate, a driver in Atlanta runs a red light and crashes into another vehicle, causing the death of the passenger. The family of the deceased may file a wrongful death lawsuit against the driver for their negligent actions, seeking compensation for funeral costs, lost income, and emotional distress.
What Does Pre-Settlement Funding Pay For?
Pre-settlement funding provides financial support while waiting for a settlement. It can help cover essential expenses such as:
- Medical bills
- Rent or mortgage payments
- Utilities (electricity, water, etc.)
- Groceries and food
- Childcare or daycare costs
- Car repairs or transportation expenses
- Credit card bills or loan payments
- Auto insurance
Is There a Pre-Settlement Limit?
Pre-settlement funding limits are set by the provider (such as Oasis Financial) and depend largely on the borrower’s circumstances and the specifics of the case. Key variables that impact limits include:
- Severity of the injury
- Strength of the case
- Estimated settlement value
- Time until the case is likely to settle
- Plaintiff’s financial need
- The defendant’s ability to pay
For example, if a car accident victim in Atlanta suffered severe injuries and has a strong case against a well-insured driver, they might qualify for a higher pre-settlement funding amount, compared to someone with a less serious injury or a case with weaker evidence.
Can I Take Out More Than One Pre-Settlement Funding?
In Georgia, it is possible to take out more than one pre-settlement funding, provided the borrower’s case and financial needs justify it. Reasons someone may need to take out additional pre-settlement fundings include:
- Miscalculated initial financial needs
- Case taking longer than anticipated to settle
- Unexpected medical expenses or additional treatments
- Increased living costs due to prolonged inability to work
Pre-Settlement Funding
While pre-settlement funding offers significant advantages to a plaintiff, it’s important to carefully consider factors such as the associated charges and risk.
What Are the Risks of Pre-Settlement Funding?
Pre-settlement funding is a non-recourse obligation, meaning there is no risk to the borrower. If the case doesn’t settle or the plaintiff loses, they are not required to repay the funds.
What is the Probability of Defaulting?
Absent fraud, there is no probability of defaulting on pre-settlement funding, as Oasis only collects fees if the case is won, meaning the borrower is not required to repay the loan if they lose the case.
Choosing the Right Pre-Settlement Company
Not everyone needs pre-settlement funding, but it’s important to ask key questions before pursuing it.
Do You Need Pre-Settlement Funding?
The need for pre-settlement funding is influenced by factors like the severity of your injury, how long the case is taking to settle, and your financial situation. It’s a risk-free option since repayment is only required if you win the case, making it a useful backup plan to ensure financial stability while awaiting settlement.
Why Choose Oasis Financial?
Oasis Financial stands out from other pre-settlement funding companies by prioritizing compassion and exceptional customer service, ensuring clients feel supported throughout the process. We take the time to understand each individual’s unique situation, offering personalized solutions with a focus on care and respect, not just financial transactions.
Work With Oasis Financial
Partnering with Oasis Financial means a trusted, straightforward process with fast approvals, no hidden fees, and peace of mind during your lawsuit. Visit our FAQ page for more details, or start your easy online application today.
The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. No attorney-client or confidential relationship is or will be formed by use of the site. Readers of this website should contact their attorney to obtain advice with respect to any particular legal matter. No reader, user, or browser of this site should act or refrain from acting on the basis of information on this site without first seeking legal advice from counsel in the relevant jurisdiction.
Oasis provides pre-settlement funding, also known as consumer litigation funding, to its customers through different products depending on their state of residence or cause of action. Many consumers will be provided pre-settlement funding in the form of a purchase agreement, which assigns a portion of the pending proceeds from their legal claim. Other consumers, such as those in SC and CO will be offered a funding in the form of a pre-settlement loan, sometimes referred to as a lawsuit loan. These transactions have important differences, therefore, consumers should carefully review and be aware of the type of transaction that is offered to them by any funding company.