Sustaining an injury or illness while on the job can be a life-altering experience, and when it occurs under maritime employment, the Jones Act is there to protect you. But to get the appropriate compensation you have to go through a legal process, and this legal process is complex and it can be challenging and time-consuming, often spanning several years. During this period, it’s common to grapple with hefty medical bills, some of which your insurance may not fully cover. This is where Jones Act lawsuit loans can be of great help and ECO Pre-settlement Funding is here to guide you through this financial solution.
What is Jones Act?
Before we dive into lawsuit loans, let’s first grasp the essence of the Jones Act. Officially known as the Merchant Marine Act of 1920, this legislation has been safeguarding maritime workers even before the inception of the U.S. Coast Guard. Essentially, it mandates that vessels transporting goods or passengers between U.S. ports should be U.S.-constructed and owned by U.S. citizens or permanent residents. Moreover, these owners must also be part of the vessel’s crew.
The Jones Act Lawsuit Explained
This federal law serves as a safety net for seamen who encounter injuries during their employment. If you, as a seaman, suffer such misfortune, the Jones Act empowers you to file a lawsuit against your employer.
Launching a Lawsuit: The Initial Steps
The lawsuit journey commences with engaging a proficient maritime lawyer specializing in Jones Act cases. Your attorney will assist you in assembling evidence and crafting a compelling case. If your case holds merit, your lawyer will lodge a complaint with the court and serve the defendant, who then has a chance to respond. A lack of response might result in a default judgment in your favor. If the defendant does respond, both parties will present their evidence at a trial.
How Jones Act Lawsuit Loans Aid Your Claim
Pondering over financing your Jones Act claim? Lawsuit loans are your answer. These non-recourse loans require repayment only if you win your case. They offer financial resilience to challenge large corporations without the worry of meeting ends during the litigation period.
Weighing the Risks of a Lawsuit
Every lawsuit carries inherent risks, including the potential of losing. This holds especially true for Jones Act lawsuits, governed by federal law and offering maritime workers’ compensation. A weak case or resourceful opposition might result in you being liable for their expenses, potentially risking wage garnishment or property lien. Hence, understanding these risks is paramount before proceeding with a lawsuit.
The Safety Net of Jones Act Lawsuit Loans
Absolutely, Jones Act lawsuit loans are safe. These loans fall under litigation funding, meaning you’re only obligated to repay if your case prevails. If you lose, repayment is not required, positioning them as a low-risk alternative for lawsuit financing.
For maritime workers who have suffered injuries on duty, knowing your legal rights for compensation is crucial. While these cases can be intricate, ECO Pre-settlement Funding specializes in Jones Act lawsuit loans. Our dedicated team works tirelessly to ensure you receive the maximum compensation possible for your injuries.