The question is, "Why do insurance carriers hate to see individuals obtain either lawsuit loans or settlement loans?" The answer is very clear. Insurance carriers do not want individuals to be able to maintain a cause of action against the insured. Individuals who obtain lawsuit funding are able to sustain a cause of action for much longer periods of time than those who simply run out of financial resources and must abandon their claims.
Attorneys also find themselves in a very difficult situation when representing clients who lack sufficient financial resources. Most states prohibit attorneys from funding their clients throughout the process of the lawsuit. Therefore, many attorneys feel as though their hands are tied if their clients feel as though they must abandon their claims.
Additionally, it is not an uncommon occurrence for plaintiffs to jettison their attorneys and attempt to settle the claims on their own with the insurance carriers. Oftentimes, individuals will settle the claims for pennies-on-the-dollar when considering the realistic value of the underlying claim. Of course, insurance carriers are ecstatic when this happens!
If it is your desire to obtain medical attention following injuries sustained as result of another individual's negligence, how are you going to be able to pay the provider for the services rendered? Do you anticipate that these providers are going to provide the services free of charge? If so, you're sadly mistaken.
Unless you go to a public facility (e.g., a public hospital), it is unlikely that you'll be able to obtain services without cost. Many providers require that patients pay for services on the date the services are rendered. Fortunately, some providers are willing to work with individuals who sustain such injuries and who must file a lawsuit. Those individuals are often willing to accept Letters of Protection from the attorneys who represent those patients.
The advantage of being able to obtain care when needed is substantial! Insurance carriers will often argue that individuals did not sustain injury due to a protracted interval between the date on which the incident occurred and the date on which services were obtained. Therefore, an individual's claim may be substantially compromised simply because they didn't have the financial resources to obtain care in a timely manner.
Those individuals who seek and obtain lawsuit loans and settlement loans are often able to work closely with attorneys who, in turn, will work closely with providers prepared to provide the services in a timely manner. Additionally, attorneys often know whether the providers are capable of documenting services in a manner that is consistent with the needs to adequately represent the severity of injury sustained.
Litigation funding is something most insurance carriers detest. There is no question that they would prefer to have individuals settle their claims for either nothing or miniscule amounts. Those individuals who lack the financial resources to see the lawsuit through to the end are much more vulnerable. Insurance carriers realize that those who obtain either lawsuit loan or settlement loan have much greater staying-power. Article Source: http://EzineArticles.com/?expert=Dr._Tom_Rhudy
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