Legal-Bay LLC Announces $2.5MM Credit Facility To Begin Aggressive Lawsuit Funding Program For DePuy ASR Hip Implant and Replacement Cases
New York, NY – Jan. 10, 2012 – Legal Bay, the Lawsuit Settlement Funding Company, announced today that they have secured a credit facility to aggressively begin giving cash advances for plaintiffs in need of cash off of their Depuy ASR Hip Replacement cases. Legal-Bay is already an industry leader in car accident funding and pharmaceutical funding in the lawsuit funding industry. However, they now believe they will have the most comprehensive legal funding process for Depuy Hip Replacement plaintiffs within the Product Liability sector of the industry.
The Depuy Hip Replacement lawsuits have gotten a lot of global attention since Johnson & Johnson has already announced close to a $1Billion dollar “write down” to its earnings in early 2011. With already 3500 lawsuits filed in U.S. Federal Court in Ohio, and many more expected to be filed in the next 24 months, the total exposure to J&J could reach $2bil. Unfortunately for the long suffering patients of the defective Depuy Hip Implant/Replacements, the increase in litigation will only delay their needed settlement payments.
Patty Kirby, Legal-Bay’s Head of Customer Relations commented, “We are already seeing a dramatic increase in our Depuy Applications. We have seen this same cycle with both Avandia and Vioxx which took several Billion Dollars and many years to settle. We stand ready with substantial capital to get the long suffering patients of the Depuy Hip Replacements the needed cash advance in order to pay their bills and make it to settlement. We believe our Depuy Settlement Funding Program will offer the best rates and quickest turnaround industry wide.”
Plaintiffs can apply for up to a $50,000.00 Settlement Funding Cash Advance (also referred to in the industry as lawsuit loans or a lawsuit loan) on their Depuy Hip Replacement cases. Legal-Bay offers a free quote and estimated “case value analysis” within 24 hours from the time their case documents are received. Legal-Bay, through its website, lawsuitssettlementfunding.com; and its toll free hotline 877.571.0405, have agents standing by 24 hours a day ready to accept Depuy Hip Replacement funding applications.
Source Legal-Bay LLC
Patty Kirby, Head of Customer Relations
1. The minimum payback period is 6 months – We do not invest in cases with payback periods of less than 6 months. Our maximum APR on a 6 month lawsuit settlement funding payback, including all fees, is 29% annually.
2. The maximum payback period is 36 months – We do not charge usage fees past 3 years, which means you will not be charged any additional money past 36 months. However, if your case does not settle within 36 months you are not obliged to repay us until it officially does. Our maximum APR on a 36 month lawsuit settlement funding payback, including all fees, is 25% annually.
3. CLICK HERE to view example of cost of funding, including all fees, and final payback on a lawsuit settlement funding