Legal-Bay LLC To Begin Pre-settlement Lawsuit Funding For SDG&E Wildfires
San Diego, Ca – Sep 28, 2011 – Legal-Bay LLC, www.legal-bay.com, announced today that they have begun funding individuals and business owners who have pending lawsuits involving the 2007 Wildfires in San Diego County and parts of Orange County, California. Legal-Bay is the first known company in the industry to assist plaintiffs with the needed cash flow today, before their cases settle involving the SDG&E suits. Plaintiffs must have valid claims in which they did not have insurance or enough coverage to cover for their losses of property. Many of these cases are now at the point of being resolved either through the mediation process, settlement discussions or trial.
SDG&E has already settled with the state of California for $14mm and the company has also begun to settle many of the individual smaller suits. However, individuals and business owners who lost valuable property in the wildfires are still waiting for their cases to resolve. All told SDG&E has approximately $1bil. in insurance policy limits to cover most of the losses. However, if need be the company will need to dip into corporate profits and/or raise rates to cover the balance of the settlements which could soar to well over the $1bil.insurance threshold.
The balance of the plaintiffs still waiting have now had to wait almost 4 years to get a chance to get compensation for their losses. And many of them are simply out of cash-flow to proceed with their daily living needs. Dave Kole, Legal-Bay’s CEO commented on the company’s decision to begin funding on the SDG&E San Diego wildfires, “We have followed this case closely, and believe that SDG&E’s liability is clear cut and they will avoid trial in most situations. We believe the time is right to begin assisting the victims of this tragedy with granting them the needed lawsuit cash advances to get their lives back on track prior to getting their ultimate settlement. We are the first and only company within the settlement funding industry -that we know of- that has stepped up in this regard.”
Legal-Bay has a west coast presence with affiliated office space in the phoenix and Scottsdale, Arizona market and the company is in the process of looking for commercial office space either in the Los Angeles, San Diego, San Francisco and Orange County, California market. In the meantime, plaintiffs seeking a lawsuit cash advance, also referred to as lawsuit loans, can either contact the company via email at firstname.lastname@example.org or on their 24 hour toll free hotline of 877.571.0405. For more information on the SDG&E wildfire funding, or any other pre-settlement lawsuit funding cases that Legal-Bay funds, go to the company’s website at: www.legal-bay.com.
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