Delaware Workers' Comp Funding
If you’ve been in an accident at work, have a personal injury and an attorney, you can apply for funding to help pay your bills. We provide cash advances to injured workers in Delaware.
Medical Benefits in Delaware
All reasonable and necessary medical treatment and hospitalization services must be paid for by the employer or the employer’s insurance carrier. The employee has the right to choose the treating physician.
Workers’ compensation was created by the Delaware Legislature to benefit workers who are injured on the job or contract a disease while working. Benefits may be paid voluntarily by the employer or the employer’s insurance company or you may have to petition the Industrial Accident Board for relief.
The legal funding industry helps plaintiffs by giving them cash advances to pay their expenses while their attorney fights for the full value of the case. The concept was started by attorneys who saw the need of plaintiffs first hand.
If a client was injured at work and had medical bills piling up, they were apt to settle their case before fighting for the maximum reward. While it is the attorney’s job to earn the maximum compensation for their client, it is also the insurance companies’ job to pay as little as possible.
The client needed to be put on a level playing field with the deep pocketed insurance companies they were up against in order to get the settlement they deserved. Unfortunately it is unlawful and unethical for attorneys to loan their clients money.
To solve this dilemma legal funding was created. A client could now take out money against their legal claim by using a lawsuit funding company. The funding company only gets paid back if the case is successful.
Due to the risk of loss of principal, funding companies must make sure the case is worth enough to cover all of the liens on the case. Typically a funding company will advance up to 10% of their estimated value of the case. This allows for a margin of safety or cushion, so that even if the underwriters are wrong in their assumptions, they will still be paid.
Lawsuit funding started out expensive, but the price continues to decline as competitors enter the market, making it more popular among plaintiffs who are strapped for cash.
To apply for an advance you do not need a good credit score because your ability to pay us back depends on the merits of your case, not your income or assets.
Bridgeway provides help to those injured workers in Delaware who are awaiting their workers’ comp settlement or case decision. Bridgeway is less expensive than the competition and can provide you with cash in less than 24 hours from the time you apply.