Suffering a serious injury at work can turn your life upside down. Medical bills, lost wages, and everyday expenses don’t pause while you wait for your workers’ compensation claim to resolve. In Pennsylvania, workers’ compensation settlement funding offers a financial lifeline. This funding, also known as a cash advance for workers’ comp claims, provides early access to money you may eventually receive in a settlement.
At Munley Law Personal Injury Attorneys, we’ve represented injured workers throughout Pennsylvania for over 60 years. We understand the stress a workplace injury can place on a household. Our award-winning team has built a reputation for protecting the rights of workers and securing meaningful results. If you’re considering workers’ comp settlement funding, we can help you understand your options and protect your settlement.
Who May Benefit From Workers’ Compensation Settlement Funding
Workers’ compensation settlement funding isn’t right for everyone. However, financial assistance can be vital for injured workers who are awaiting a settlement and struggling financially. The money you receive can be used for almost any expense, including utility bills, and repayment is only required if your case results in a recovery.
Many workers seek settlement funding when:
- Benefits are delayed: Sometimes benefits are denied or are slow to arrive, creating a financial burden.
- Medical expenses mount: Surgeries, therapy, and medical treatment can be expensive even with coverage.
- They’re unable to return to work: Losing income for weeks or months puts stress on the entire household.
- They face eviction, foreclosure, or utility shutoffs: Urgent bills don’t wait for a workers’ compensation claim to settle.
Because it’s a non-recourse advance, the funding provider only collects repayment from the settlement if and when it arrives. If you don’t win or settle your case, you don’t owe the advance.
How Workers’ Compensation Funding Works
Workers’ comp settlement funding isn’t issued by the court or your employer’s insurance company. It comes from third-party qualified legal funding institutions. These legal funding companies review the details of your workers’ compensation claim to determine if you’re eligible for an advance.
The strength of your workers’ compensation claim is important. A solid case with clear documentation increases the likelihood of securing legal funding. The closer you are to an expected settlement, the more confident the funder will be.
Higher-value claims generally qualify for larger workers comp settlement advances. The legal funding company may offer you a lump sum, typically ranging from 10% to 20% of the estimated settlement. In return, they charge fees or interest that will be paid from your future recovery.
The Pros and Cons of a Cash Advance for Workers’ Comp Claims
A cash advance for workers’ comp claims can be helpful in the short term. But it is important to fully understand the trade-offs. These cash advances aren’t free. The fees may significantly reduce your final recovery.
Potential benefits of a cash advance include immediate financial relief. Access to funds for critical expenses such as medical bills and other living expenses can have a significant impact. There is no credit check — approval is based on your claim, not your credit score. And no repayment is required if you lose.
High fees or interest are potential drawbacks. Some companies charge high rates that can cut deeply into your eventual payout. Pennsylvania has limited regulation and consumer protections around lawsuit loans. And you may face pressure to accept a lower settlement offer just to pay back the advance.
How Munley Law Helps Injured Workers in Pennsylvania
At Munley Law, we fight to protect the full value of your workers’ compensation claim. That includes helping you understand financial decisions that impact your case. Our workers’ compensation lawyers:
- Review funding agreements: We’ll examine the terms and explain how they affect your recovery.
- Explore alternatives: We help you pursue temporary disability benefits, union assistance, or other available resources.
- Advocate for a faster resolution: We move cases efficiently without compromising results.
We bring decades of experience and a proven track record of securing high-value settlements for workers throughout the state. Some of our recent case outcomes include $4.7 million for a workplace accident that resulted in long-term disability, $2.25 million for a worker injured by unsafe job conditions, and $1.9 million for a client who suffered a severe on-the-job injury.
Our attorneys have earned national recognition from Best Lawyers in America, Super Lawyers, and the Million Dollar Advocates Forum. Our results speak for themselves. We treat every case with care — no matter the size — and we never charge a fee unless we achieve a successful outcome.
What to Consider Before Applying for Workers’ Comp Settlement Funding
Before you apply for workers’ compensation settlement funding, there are a few things to consider. Ask yourself the following:
- Do I need financial assistance right now?
- Can I manage the medical expenses, utility bills, and basic living expenses with existing resources?
- Have I talked to my workers’ compensation lawyer about this?
- Do I understand how much I’ll repay and when?
Sometimes, other resources may provide financial assistance without the fees. This includes a union hardship fund, community program, or short-term loan from a trusted source. That’s why Munley Law makes sure our clients see the full picture before moving forward.
How Pennsylvania Law Affects Funding Options
In Pennsylvania, workers’ compensation is governed by the Pennsylvania Workers’ Compensation Act. The Act doesn’t directly regulate settlement funding. But it does affect how and when benefits are paid.
The law provides wage loss benefits, medical care, and death benefits for injured workers. However, disputes over eligibility, coverage, or permanent impairment ratings can delay resolution. These delays are a common reason injured workers seek settlement funding.
Talk to Munley Law Before You Apply
Struggling to stay afloat while waiting for your workers’ compensation case to settle? You’re not alone. Our lawyers can review your situation and help you make the best decision for your health and your finances.
We’ve been standing up for injured workers for generations. We’re proud to serve clients in Pennsylvania and beyond. Whether you’re considering settlement funding or looking for answers about your workers’ comp case, Munley Law is here to help — every step of the way.
