QUESTION
If I fell and broke my wrist and I am suing the homeowner's association, can I get some kind of loan on my case?
Asked on Apr 03rd, 2014 on Personal Injury - Alabama
11 ANSWERS
Ronald A. Steinberg
Possibly, but the advance will cost you a ridiculous amount of money. It is not unusual to have to pay $200 or more to borrow $100.
Answered on Apr 04th, 2014 at 1:56 PM
Yes, there are companies which will lend money in those situations. And you need to be very careful in determining the interest rates they charge.
Answered on Apr 04th, 2014 at 1:36 PM
Admiralty and Maritime Law Attorney serving Gulf Breeze, FL
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Law Offices of John W. Merting, P.A.
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There are a number of cash advance for litigation firms, check the internet or ask your attorney who must be involved. Be aware the interest costs are outrageous and compound with the passage of time. You could end up with nothing from your claim, with it all going to the advance firm.
Answered on Apr 04th, 2014 at 11:19 AM
Chapter 7 Bankruptcy Attorney serving Syracuse, NY
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Andrew T. Velonis, P.C.
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There are a number of outfits that do this kind of financing. But: you should know they are quite expensive. Before you signing anything make sure you know what the costs are going to be.
Answered on Apr 04th, 2014 at 9:29 AM
You would have to ask your personal attorney about that. Some lawyers do and some do not. There are many companies that may give you an advance on your case. Read their contract thoroughly and be aware of the interest rate and what you need to pay back when you win your case or it settles. Some companies say if you lose your case you do not have to pay the money back. Good luck.
Answered on Apr 04th, 2014 at 9:21 AM
You need to contact directly the companies that do such advances, but I think they normally look for cases of greater value and clearer liability than yours.An attorney will not advance any money to you.
Answered on Apr 04th, 2014 at 4:58 AM
Edwin K. Niles
Yes, there are companies which lend on cases, but (1) they charge very high interest rates, and (2) the underlying case has to be a good one. Trip and fall cases are very difficult, and not very good from their perspective.
Answered on Apr 03rd, 2014 at 7:11 PM
Personal Injury Law Attorney serving Naperville, IL
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Law Office of Barry R. Rabovsky
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There are many loan companies that make loans to accident victims, although their interest rates are very high.
Answered on Apr 03rd, 2014 at 6:37 PM
Personal Injury Attorney serving Pasadena, CA
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Law Offices of Pius Joseph
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Slip and fall cases are heavily contested on liability. Unless you have an admitted liability case ,it is unusual for loan funding companies to provide loans. Second, such loans although non- recourse have usurious interest rates. They are legal but very pricey. So may be approach a family member for the loan and offer them a lien on your case for security.
Answered on Apr 03rd, 2014 at 6:27 PM
James Eugene Hasser
It depends on the strength of your case and your lawyer's policies. There are outside loan companies, but they charge a great deal of interest. Talk with your lawyer about it. He or she may be able to keep creditors at bay while the case is pending.
Answered on Apr 03rd, 2014 at 6:26 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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Probably not. First, you would have to establish that the HOA was likely negligent. That is not an easy case to make unless, for example, the HOA had an obligation to put up a wet floor sign and did not. Secondly, and more importantly, your case is not worth much money. The cost of the hospital visit, the cast, x-rays, removing the cast, maybe a little rehab. If you spent $3000 on medicals, you are probably looking at about $10,000 max for recovery. However, the person you should be asking is your attorney.
Answered on Apr 03rd, 2014 at 6:26 PM