Pre-Settlement Funding for Pennsylvania Workers' Compensation Cases

A work injury doesn't just hurt your body. It hits your paycheck. Workers' compensation is supposed to help, but the weekly checks usually cover only part of what you were earning, and they can be delayed, reduced, or challenged by the insurance company. If your attorney is working toward a settlement of your Pennsylvania workers' comp case, pre-settlement funding can help you cover your bills while you wait.

Why Workers' Comp Settlements Take Time

Most workers' comp cases in Pennsylvania that settle do so through a Compromise and Release Agreement, often called a C&R. A C&R is a lump-sum settlement that closes out some or all of your future benefits. Before any money is paid, a Workers' Compensation Judge has to review the agreement at a hearing and approve it.

Getting to that point can take a while. Your attorney may be waiting on medical records, an independent medical exam (IME) scheduled by the insurer, or a hearing date. The insurance company may also try to cut your benefits along the way. Meanwhile, rent, car payments, and household bills keep coming.

How Pre-Settlement Funding Works for Workers' Comp

Pre-settlement funding is a non-recourse cash advance against the expected value of your settlement. That means:

·       No credit check. We look at your case, not your credit score.

·       No monthly payments. Nothing is due until your case settles.

·       No risk if your case doesn't settle. Because the funding is non-recourse, you owe nothing if there's no recovery.

When your settlement is approved and paid, your attorney's office handles the payoff from the settlement proceeds. You don't have to write us a check or set up payments.

What We Look at in a Pennsylvania Comp Case

Every case is different, but these are the main things we review with your attorney:

·       Whether your claim was accepted. A claim the insurer has accepted is usually the strongest starting point.

·       Where the case stands. For example, whether settlement talks have started or a hearing is scheduled.

·       The expected settlement value and timing. Your attorney's estimate helps us decide how much we can advance.

·       Liens and offsets. Things like child support or medical liens can come out of a settlement, so we account for them up front.

We request the case paperwork directly from your attorney, so you don't have to track down documents yourself.

Attorney Fees in Pennsylvania Comp Cases

Pennsylvania law generally limits attorney fees in workers' comp cases to 20% of the benefits or settlement, and fee agreements are reviewed by the Workers' Compensation Judge. That's good news for injured workers, because more of the settlement stays with you. It also makes it easier to estimate what your settlement will actually put in your pocket.

Hurt at Work Because of Someone Else?

Sometimes a work injury is caused by someone other than your employer, like a driver who hits your work vehicle or a contractor on a job site. In that case, you may have a separate personal injury claim in addition to your comp claim. Those third-party claims can also qualify for funding. Keep in mind that the comp insurer often has a right to be repaid from a third-party recovery, which is something we factor in with your attorney.

A Note for New Jersey Workers

This post focuses on Pennsylvania. New Jersey workers' compensation has its own rules, so if your comp case is in New Jersey, give us a call and we'll talk through your situation. If you also have a personal injury claim from your work accident, that claim may qualify for funding.

Do I Qualify?

You may qualify if:

·       You have an attorney handling your workers' comp case

·       Your claim is moving toward a settlement

·       Your settlement will be paid through your attorney's office

You don't need good credit, a job, or a minimum case value to apply.

Why Iron Oak Funding

Iron Oak Funding works with plaintiffs and attorneys in Pennsylvania and New Jersey. Workers' compensation cases are a regular part of what we do, so we understand how C&R settlements, judge approvals, and liens work. We keep the process simple for you and easy for your attorney.

Get Started

If you're waiting on a Pennsylvania workers' comp settlement and need help now, applying takes just a few minutes. There's no cost and no obligation.

Call (267) 554-2130 or apply online.