Traffic accidents, cars bumping into other vehicles, and other tragedies on the road are commonalities that many people go through at some point in life. These incidents on the road vary in severity and the quantum of harm they accrue. When collisions with heavy commercial vehicles are in the discussion, the damage and injuries people suffer may be destructive and fatal.
So what do commercial vehicles involve? Commercial vehicles are registered to a company and include trucks for logistics, garbage, and towing usage, water tankers, tractor-trailers, mass transit buses, and other vehicles used for commercial purposes or even to transport passengers. These vehicles have a gross weight of 10,001 pounds or more.
These large vehicles occupy our roads at all times of the day, and the accidents they cause can be hazardous and traumatic for those involved. Accidents with commercial vehicles and the process of recovering costs and damages from them aren’t the same as with private cars, entailing many other technicalities.
Here, we will discuss more involving commercial vehicle accidents and how pre-settlement funding can help you get back up during your car crash lawsuit.
How are commercial vehicle accidents different from usual car wrecks?
Commercial vehicles are relatively more significant and more complex because they are more challenging to operate and require the driver to be extra cautious and have additional licenses while driving.
Commercial vehicle crashes often involve negligence as to speed and overloading of cargo in trucks. For this reason, states and authorities have additional safety regulations that people driving commercial vehicles can apply while on the roads.
Some of these safety regulations require continuous and comprehensive maintenance to ensure accidents due to technical faults are minimized. They also require their drivers to be professionally trained. Commercial vehicle drivers are also expected to take on a reasonable professional attitude, including working at relaxed, fixed shifts and timings to avoid fatigue while on the road and be extra careful of other vehicles and traffic laws.
Moreover, depending upon whether the truck belongs to an individual driver or any logistic/commercial group, the victim can accuse them as liable for a road accident caused by an employed or contracted truck driver, the employer or contractor of those drivers, or the government if it’s a state-owned vehicle.
Based on these facts, anyone involved in a commercial truck accident can even sue the party receiving the shipment, the company that loaded or certified the vehicle’s total loaded weight, or even the manufacturer of the misfortunate vehicle, if product liability is also to blame for the injuries.
Pre-settlement lawsuit funding for commercial vehicle accident victims.
Due to the peculiar nature of commercial vehicle accidents, those involved in them typically approach contingency attorneys specializing in the commercial vehicle aspect of personal injury litigation to bring a case.
Once your contingency attorney agrees to legal action against the other side, you don’t have to bear any of the litigation costs, but once you get a settlement or a jury award, your attorney will be entitled to 1/3 of the compensation.
However, even if you do not have to pay your attorney any out-of-pocket costs, your injuries may be so severe that you cannot work and generate any income. So what do you do?
Whenever you face financial hardships from your commercial vehicle accident, pre-settlement funding can provide you with financial relief during the pendency of your lawsuit. The lawsuit funds can be dedicated to bearing your household needs and routine expenses.
Moreover, you are only responsible for repaying the borrowed funds if the case concludes in a win for you after you receive compensation. There are no credit checks or income verification for commercial vehicle accident funding.
Getting a lawsuit loan on your commercial vehicle accident lawsuit is easy.
Are you a personal injury plaintiff looking to fund your commercial vehicle accident lawsuit? Look to Baker Street Funding to apply for a loan on your pending settlement by simply applying now. The funding process is simple as long as your attorney handling your commercial vehicle accident case participates in the process.
Get a legal funding decision on your commercial vehicle crash case 24 hours after your lawyer sends the information needed for underwriting. Underwriting simply means that our attorneys will verify your commercial vehicle crash case details with your attorney in order to issue final approval for your lawsuit loan. Underwriters are personal injury attorneys who assess how much risk a pre-settlement funding company will take on if they decide to give you the advance on your commercial truck crash case.
With Baker Street Funding, you get lower rates than other pre-settlement loan companies funding commercial vehicle accident lawsuits in as little as one business day from when your lawyer provides your case file.
Our settlement loan contracts on all commercial vehicle accidents are non-recourse and start at 2.95% per month, and are capped in the second or third year of the loan. Do not pay extra interest if your case takes longer than that cap to settle. Pay nothing if you lose the case. Prequalifying a commercial vehicle accident loan with Baker Street Funding takes just a few minutes.