For many injured people, the single biggest challenge is paying the bills until they get a settlement or a judgment. In fact, legal experts say that many plaintiffs settle for way less than they deserve because they are strapped for cash. Insurance companies, who represent most defendants in personal injury litigation, know this and employ tactics to drag out the legal process. All that may be about to change, thanks to a New York startup company.
Mighty Group, conceived and co-founded by Chief Executive Officer Joshua Schwadron, is on a mission to level the playing field for plaintiffs. Mr. Schwadron’s company, which recently raised more than $5 million in venture capital, is in the business of loaning personal injury victims money until they receive a judgment or settlement. The goal, according to Mr. Schwadron, is to allow injured people the opportunity to be “patient and wait for a fair settlement offer.” In return for the advance, injured parties would agree to pay Mighty Group a small percentage of any financial recovery.
Schwadron notes that his enterprise is not the first company to advance money to personal injury victims. Those companies that do, though, typically purchase a settlement at a discount, and have a fixed percentage for all customers. Mighty Group intends to bring qualified investors together to bid on personal injury claims, so that the beneficiaries of the loans get the advantage of competition.
Contact the New Jersey Personal Injury Lawyers at the Law Offices of Harold J. Gerr
At the Law Offices of Harold J. Gerr, we have fought for the rights of personal injury victims in central New Jersey for more than four decades. We carefully choose the cases we handle, so that we can provide the highest levels of service and personal attention to each client. We are also happy to take over your case, if your first lawyer does not seem to have your best interests in mind.
To set us a free initial consultation, send us an e-mail or call our office at 732-537-8570.
