Slip and Fall Lawsuit Funding - The Full 2021 Guide
- How can you easily qualify for a slip and fall cash advance – we explain
- How much it will cost you after you settle your case (full cost breakdown)
- 1 little secret about slip and fall accidents funding companies won’t tell you…
One of the most common accidents in premise injuries are slip and falls – estimated to happen over 1 million times a year to victims. In a common example – employees of a supermarket will mop the floor with water and forget to place a wet floor sign. A shopper, unaware of the slippery surface, will fall and get injured. Accidents like that one carry a heavy cost on the victim with long recovery periods and medical treatment that often ends with surgery and lifetime care.
Unlike car accidents, slip and falls don’t usually have a cop write a liability report. Since it is harder to prove it was the defendant that caused the injuries – slip and fall accidents take longer than other lawsuits to settle. Victims who need a cash advance often cannot wait 24-36 months for the case to settle in order to get the financial help they need to get by. This is why HM capital is now offering low cost, fast, and easy to understand slip and fall lawsuit funding.
The application process to get a slip and fall cash advance is simple. All you need to qualify is:
- You have to be represented by a lawyer
- Have a valid personal injury case
- Verify your case through your law firm
Once you apply with HM Capital, it takes less than 24 from case verification for you to get the funds. We verify your case with your paralegal, and after we sign a contract securing your case advance – you get funded.
Here is how we determine your funding amount when you apply with HM Capital
Your funding amount will be determined by the facts of your case. The bigger your case, the larger you advance could be! Generally speaking, HM Capital limit is 10% of your case value as advance. So if your slip and fall lawsuit is valued at $150,000 – we can fund you up to $15,000.
Case value is what your lawyer can show us and based on the evidence of your case. We take several factors into account:
- Evidence of Liability – it is not enough to see proof your were injured, we need to see evidence that it was someone else’s fault. For example – video of the incident, photos, video, witnesses, and discovery.
- Proof of injuries – more serious life threatening injuries will command higher settlement awards. We usually verify this by confirming medical records from your law office. Slip and fall injuries are usually very serious and require significant surgeries and prolonged treatment, especially for victims 50 and up.
- Proof of Insurance – we require at least some proof of coverage in order to ensure collection of a settlement. Most slip and fall in retail stores are covered by the business insurance AND the property’s insurance (slip and fall often have commercial insurance policies above $500,000 so coverage is rarely an issue in these cases).
How can I increase my chances to get a cash advance? Can I get approved if I was rejected by another company?
The better your case, the more chances you have of getting approved for a cash advance. Slip and fall can be very challenging cases, especially when it is up to your lawyer to conduct an investigation to establish fault on the defendant. Here are a few things that could help you get a pre-settlement advance on your slip and fall case:
- The other party is clearly at fault and there is clear evidence for it (like a video of your fall, incident report, or witnesses).
- You have a good attorney representing you – this part is more important than you might think. Some law firms’ goal is to only settle quickly. Other lawyers push cases all the way to trial and command the largest awards. Picking the right attorney to represent you could make all the difference in your settlement size.
- Your medical treatment is consistent, clear, and has a track record
Here are a few factors that will not affect your ability to get a cash advance against your slip and fall:
- Your credit score or financial history – we never run a credit check and it will not affect your chances to secure cash against your lawsuit
- If you already got funding on the case once – we can still help you if you got funding before. Even if you got more than 1 funding – we can still purchase the previous advance and provide you more on top of that.
What are the rates for a slip and fall cash advance?
Payback amount depends on 2 things – how long it will take your lawyer to pay us back and the rate on your case. The better your case and the sooner your lawyer settles the case – the less you pay. Generally speaking the rates will vary from case to case, from 1-4% a month in general. Yes, it is a lot more than a mortgage rate on a house or an investment property – but if you need money fast, it may be better than losing your home or getting evicted!
A $1,000 advance will have about $1200 payback after 6 months.
We always recommend to avoid legal funding if your absolutely do not need the money. It is not a good idea to take out a pre-settlement advance, even at our low rates, to take a vacation or to gamble it away. We recommend trying to get money from family or friends. Even with our low rate, zero fees, and hard lien caps – we believe it is better to take as little as possible in order to avoid high rates and large paybacks.
If you lose your case, you keep 100% of the advance and don't owe us anything back (yes, we swear)
The funds we give you is not a loan. It is an investment in your case, and therefore if you lose your case you pay us back nothing. We work just like personal injury attorneys – we only get paid back if you win your case. There is no risk involved in getting a lawsuit loan. There is no cost to apply and you can cancel the process any time.
We don’t believe in pressure selling, cold calling, or trying to hide anything from you. What you see is what you get. We’ll even give you 5 days to change your mind after signing a contract, and if you pay us back – deal is off and you owe owe us a thing.
Can I Get a lawsuit loan if I already got one from another company? How much can I get against my case?
You can get additional funding on your slip and fall case even if you already got one before. HM Capital will be able to give you additional funds on top of the amount you already owe, and lower your rate as well so your lien will grow much slower.
How much could you get for your personal injury lawsuit? Call us to find out. Generally speaking, our experts can help you get 8-10% of the total case value of your lawsuit. So if you have a $100,000 case, you can get up to $10k in cash in less than 24 hours, risk free.
Should I get a lawsuit loan from HM Capital? How is it different than Oasis Financial cash advance?
Rates and fee between companies vary widely – some are very expensive and some are more affordable, especially when it comes to big slip and fall cases. At HM Capital – we know that plaintiffs who suffered injuries and need a cash advance are doing so to pay bills – not to take a vacation. Just because you are in a bind does not mean you should pay an arm and a leg when you settle the case. Our rates are reasonable, and our unique funding structure gives us an advantage over our competition.
- Low Rates – we guarantee in writing a lower fee than other companies. Our rates are about 70-50% cheaper than Oasis Financial in some cases.
- Simple, non-compounding interest rates – HM Capital will never charge you compounding interest rates. Our rates are simple, so what you owe us is less over time, compared to Oasis – where you almost always pay compounding interest rates. Here is a good explanation about simple and compounding interest rates.
- Fees – the dirty little secret of the lawsuit funding world are high fees. Some companies will charge you $100 fee to send you a check for an advance totaling $500 – that’s insane!! HM Capital does not do that. With us, there are no BS fees that will cost you a fortune.
- Cap on payback – the biggest difference between us and companies like Oasis Financial – we have a cap on all of our funding – so if it takes you 3 years or more to pay back, our lien stops growing.
If I get a pre-settlement advance, how much will I have to pay back?
Getting a slip and fall funding will cost you money against your future settlement – it is not a free service. Once your law firm secures a settlement with the insurance company – a portion of your settlement will be paid back to satisfy the our lien. The payback amount depends on two factors – the rate and the time it took your lawyer to pay us back. The longer it takes for your case to settle, the higher the payback will be.
The rate is calculated based on the risk factors of your case, and is different from one case to the next. A few factors to consider when we determine the risk of your case:
- Has the insurance carrier accepted liability? This means that the insurance company admits it was the other party that caused you injuries – which means you have already won your case. The only question left to answer is how big will be your settlement. If the insurance carrier accepted liability your rate will be lower.
- How bad were your injuries? Bigger injuries will command bigger settlements, which means a bigger advance to you.
- Insurance – the bigger the insurance policy the other side has – the bigger the potential settlement.
- How good is your attorney? Not all attorneys are the same – some just try to settle and some are trial attorneys. Good attorneys who know how to litigate will increase your case value – and you can get a lower rate as a result.