Michael Berookim & Mark Berookim, Owners of High Rise Financial LLC, Explain the Benefits of Pre-Settlement Legal Funding

When a car accident occurs, a pedestrian is hit by a drunk driver, a person slips and falls on someone’s property, a medical device is defective and causes harm or a doctor performs medical malpractice by being negligent…one thing is in common: a negligence caused harm and created injury.

When such incidents or accidents occur and cause personal injury, victims have a few options to pursue justice and recover money damages. First, with the help of a lawyer or law firm, they may seek to file a lawsuit or pursue their claim against the defendant or the injury-causing party. In the case of car accidents, truck accidents, bus accidents and those involving pedestrians, for example, the claim is usually and primarily directed at the defendant or negligent party’s insurance company – the company that will pay out on the claim. In the case of a slip and fall in a restaurant, commercial store or supermarket such as Target, Whole Foods or Trader Joes, the victim can pursue their claim against the subject property’s owner, who normally has proper insurance. The insurance company will then retain counsel or hire a law firm to defend them if a lawsuit is initiated. Prior to that, the lawyers for the plaintiff (the injured party) will try to settle the claim with the defendant’s insurance company without filing a lawsuit. This occurs for a couple of reasons. First, litigation is expensive. With it comes increased costs and expenses to compensate for the time it takes to see a case to fruition before or after trial (which means a longer length of time before you receive any money from your settlement).

Plaintiffs now have access to a portion of their future settlement before their case is finalized through legal funding. Legal Funding, otherwise known as a lawsuit loan, is completely risk-free and High Rise Financial LLC can deliver this cash in as little as 24 hours! High Rise Financial LLC can also, in certain situations, provide this cash a case settles but before the plaintiff receives their actual settlement. In addition to this resource, plaintiffs may also have an advantage when their attorneys are negotiating the settlement with the insurance company because they are not forced to settle their claim out of financial desperation, even when they have a truly strong case with all the facts on their side. Anyone who has been through a traumatic accident knows it is a difficult and taxing process to recover from the injuries and that it takes a lot of effort to obtain all the proper and necessary treatment. Most times, clients need to miss work – which cuts their income and leaves them in a desperate situation for money to pay for basic necessities, including living expenses and medical bills.

When the case actually settles (either before litigation or after), the legal funding company is entitled to get their money back, along with interest. Any funding is completely risk-free. So, even if your case does not settle or settles for less than expected, then the plaintiff who borrowed the money does not need to repay the legal funding company. This is not considered a typical lawsuit loan or cash advance for this reason.

Michael Berookim and Mark Berookim, owners and co-founders of High Rise Financial LLC, believe that pre-settlement legal funding for personal injury cases is vital in scenarios where one is in dire need of money and can be a true lifeline for victims and plaintiffs of all types of personal injury accidents. Lending is a risky endeavor but serves an overall good by helping ordinary people survive in troubling times and assists them in getting a fair outcome against big insurance companies.

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Contact Mark Berookim

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Mark Berookim on Crunchbase

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