Many people who are injured at work are immediately put into a tough situation because they were living paycheck to paycheck. Workers Compensation is designed in theory to pay injured workers until they recover from their injuries and can go back to work, but sadly for many the system doesn't work or doesn't work fast enough. If you are struggling to pay your rent, mortgage, car lease or medical bills Bridgeway Legal Funding can help today. Bridgeway is a lifeline for injured workers to be advanced a portion of their workers compensation settlement immediately. Get the cash you need now to stay afloat until your lawyer gets you fair compensation
How long does the process take?
In order to get a cash advance, there is an easy 3-step process:
- Call or e-mail Bridgeway to tell us about your accident & how you were injured
- We call your attorney to gather more information about your case & determine its value
- Once approved, Bridgeway will email you a contract to sign electronically. Once the contract is signed by you & your attorney, we can send you the money immediately.
How much cash can I be advanced now?
Bridgeway can typically advance 10-20% of the value of a workers’ comp claim. The more difficult part is calculating an estimated value of a workers’ comp claim because the value of injures vary significantly from state to state. It’s really interesting to see that similar injuries, for example a broken hand, can fluctuate 30-50% in compensation value based in different state’s payment schedule.
The biggest question to ask when considering pre-settlement funding on your workers comp claim is to find out where the settlement check is sent if you win your case. In some states the check is sent directly to you, however most other states, the check is sent to your attorney’s office. If your attorney controls your injury settlement check, then Bridgeway can review your funding request.
How much is my workers compensation claim worth in Oklahoma?
To determine the value of your case the first step is to understand what your “comp rate” is. Your “comp rate” is the amount of weekly or bi-weekly workers compensation benefits you are entitled to. Next, and more importantly, will be determining the severity and permanency of your injury. This factor is often difficult and time consuming in established but is determined following an “IME” or Independent Medical Examination, this is an examination of your physical health by a doctor not employed by you or by workers comp. An IME typically results in your receiving an impairment rating, which will be a big factor in the value of your workers comp claim.
Here are some possible workers compensation benefits:
Temporary Partial Disability (TPD) may be payable when an injured worker can perform alternative work, but cannot make as much as he or she made before the injury.
Permanent Partial Disability (PPD) one who is unable to perform the same job duties as he/she could perform before the injury, but is still capable of working in some capacity. PPD typically is paid in a weekly amount, currently set at 70% of the injured worker's average weekly wage, but capped at $323 per week. Sometimes this amount is commuted to a lump sum, meaning part or all of the benefit is paid in one payment, rather than weekly amounts.
Permanent Total Disability (PTD) is payable if an injured worker is incapable of returning to any form of gainful employment based upon his or her education or experience. PTD is typically paid in a weekly amount, currently set at 70% of the injured worker's average weekly wage, but capped at 100% of the state's average weekly wage, which is currently $816.50.
To learn more visit: State of Oklahoma - Guide for Injured Workers
How does my workers’ compensation claim work?
Workers’ Compensation insurance is designed to help injured workers pay their bills while hurt and un-able to work. In theory, it sounds like an amazing resource, however, in practice many workers are left scrambling for help because workers comp refuses to pay. Often workers compensation claims are denied or disputed because the injury was not immediately reported to an employer or the because of pre-existing injuries. If your claim is not initially approved, it could take months or years before an injured worker receives benefits.
To learn more about the procedures of your Oklahoma Workers Comp claim, visit: Oklahoma Workers Compensation Commission
If you are struggling to get by because your missing work, Bridgeway Legal Funding may be able to get you cash today. Call Bridgeway and most applicants can receive a cash advance within 24-48 hours.