Justice-Oriented Financing: Personal Injury

The party who has the most money should never matter, but unfortunately it does. Plaintiffs with meritorious claims receive less-than fair settlements because they lack the resources to put up a fair fight. Financing can increase plaintiffs’ bargaining power, ensuring that the justice system works as intended.

Personal injury financing is the subcategory most systematically oriented towards justice. Compared to most other plaintiffs, personal injury plaintiffs are more likely to lack the financial resources to fight a fair fight. That is because an unexpected injury can put a person out of work, making it more difficult to manage medical bills, living, and other expenses.

In personal injury cases, the injured party typically is not facing the party that injured them. Rather, they have to go up against large insurance companies who stand in on behalf as “professional defendants.” Insurance companies are well aware that most injured parties lack the funds to sustain long legal battles.

Thus, insurers take advantage and prolong the legal process which in effect compels plaintiffs to accept quick, less-than fair settlements. Consequently, if a plaintiff cannot afford to financially sustain the legal battle for a fair settlement or their day in court, they do not have equal access to justice.

Moreover, third-party financing aids plaintiffs who were victim of an accident done by providing them the financial support they need to survive the prolonged legal process. Third-party financing levels the playing field; giving “the little guy” a realistic chance at victory.

Topics: personal injury, personal injury financing, third-party financing

Work Cited: Joshua Schwadron, WHY JUSTICE FOR LITIGATION FINANCIERS IS JUSTICE FOR ALL, NYU Journal of Law & Business (2016).