Personal injury victims often end up struggling to pay bills because of the added expenses and decreased income that is typically caused by a personal injury. Personal injury victims frequently request legal funding in order to deal with this increase in expenses and decrease in income.
One of the first things Pegasus Legal Funding needs from the personal injury victims is the amount of legal funding they are requesting. Although many individuals have an amount in mind based on the bills that need to be paid, some individuals have no idea how much to request.
The amount of legal funding personal injury victims request should be based on the need they have. Unfortunately, many personal injury victims do not know how long it is going to take to get a personal injury settlement. The rates charged on legal funding are higher than bank interest rates, so personal injury victims should not request more legal funding than they expect to need. However, having to call every month to request more legal funding will be an additional burden on the personal injury victim.
Thus, it is often a good idea for personal injury victims to speak to their attorneys about how long the case is expected to take. Although attorneys typically cannot give an exact date, they usually can provide an estimate.
After the personal injury victim gets this estimate, the victim should add up all the expenses that they will need the legal funding for over the period remaining until they get their settlement. Although the amount may be slightly more or less than the actual need, it will at least be a starting point.
.:About the author:.
Stanley DiCicco is the Chief financial Officer with Pegasus Legal Funding LLC. Stanley supervises the finance unit and is the chief financial spokesperson for Pegasus Legal Funding LLC. With over 25 years high level executive experience, Stanley has provided significant success in all aspects of financial and operational activities of the firm.