These are tough times and insurance is necessary to protect you from financial burdens caused by accidents. Depending on the type of policy that is chosen, the company takes the financial responsibility of paying for the damages. There are numerous policies and several companies that claim to be one of the insurance companies than ever before. It is a problem of plenty. Since there are several best car companies for you to choose from, finding the insurance policy that suits you best can be a tough task. Let us not settle for good policies, instead search for the best ones.
It is a known fact that the best companies in the world are located in the United States and the United Kingdom. It is easy to find several websites in the internet that provide you with genuine reviews of best companies. Progressive insurance, Geico, Nationwide, 21st century insurance, Liberty Mutual, American Family, Allstate, Progressive, and Esurance are some of the popular insurance companies. Insurance companies should be rated based on their affordability, responsiveness, attitude towards customers, and the availability of additional services.
Popular companies in the United Kingdom include Norwich Union, Admiral Car Insurance,, Swington Car Insurance, Courier Insurance, Nationwide Motor Insurance, Bullseye, AIG Direct, Churchill and Aviva. Although this list of best car insurance companies can help you get started, choosing an insurance policy should be based on an individual's requirements and preferences. Ultimately, it is the individual's requirements that define what the best car insurance companies should offer.
It is also good to talk to your friends or colleagues before purchasing. Carefully understand what the policy will offer. Most of the best companies today have well-trained executives who can clearly understand your requirements and budgetary constraints, and guide you through buying the best car insurance. The best companies will offer you a policy that promises maximum protection at an affordable price.
Sunday 20 March 2011
Miami Car Insurance Quotes and Rates in Florida Are Unique
A combination of factors are responsible for making Miami car insurance quotes and rates unique from any other city. These situations materially affect the automobile insurance premium.
Traffic
As the only Florida city to rank on the top 10 list for traffic congestion, Miami placed No. 9 in a report by the Texas Transportation Institute. An increased number of cars moving about boost the chance for accidents. Also, traffic leads to driver aggression caused by frustration and impatience and this too increases the chance for accidents.
Tourists
The sub-tropical climate in Miami makes it different from other major USA cities. Approximately 12 million visitors per year ranks Miami, Fl as one of the nations top vacation destinations. Florida's tourism industry provides a huge rental car market. Thousands of people driving in unfamiliar vehicles and surroundings are a combination that increases the likelihood of accidents.
Foreign nationals
There are a staggering number of people from another country who live in Miami, Florida permanently. In 2006 Miami-Dade County, Florida had the highest percentage (50.3 percent) of foreign born residents relative to the total state population (Migration Policy Institute). Many of these drivers do not speak English, do not understand the "rules of the road", and never obtain a Florida drivers license. These realities increase the hazard of car accidents.
Senior citizens
The climate in Miami, Fl not only attracts tourists and foreign nationals, it is a haven for senior citizens. As older drivers age, experience and caution does not compensate fully for impaired eyesight and slow reflexes. Once again, the chances for an accident are increased by this fact.
Automobile theft
According to the National Insurance Crime Bureau (NICB), Miami, Florida is the number one city for automobile theft. The port of Miami and an elevated number of high profile vehicles in the area contribute to this unsettling statistic. Higher risk necessarily translates to higher insurance premium.
Fraud
Fraud and abuse have permeated Personal Injury Protection (PIP) coverage which is required by Florida law. Medical, legal and other escalating costs associated with PIP materially affect the auto insurance premium in the Miami, Fl area. The Florida Department of Insurance has battled against this fraud for decades without much success.
Not all the aspects outlined are exclusive to the Miami, Fl area, however, the combination of them make Miami car insurance quotes and rates unique.
Traffic
As the only Florida city to rank on the top 10 list for traffic congestion, Miami placed No. 9 in a report by the Texas Transportation Institute. An increased number of cars moving about boost the chance for accidents. Also, traffic leads to driver aggression caused by frustration and impatience and this too increases the chance for accidents.
Tourists
The sub-tropical climate in Miami makes it different from other major USA cities. Approximately 12 million visitors per year ranks Miami, Fl as one of the nations top vacation destinations. Florida's tourism industry provides a huge rental car market. Thousands of people driving in unfamiliar vehicles and surroundings are a combination that increases the likelihood of accidents.
Foreign nationals
There are a staggering number of people from another country who live in Miami, Florida permanently. In 2006 Miami-Dade County, Florida had the highest percentage (50.3 percent) of foreign born residents relative to the total state population (Migration Policy Institute). Many of these drivers do not speak English, do not understand the "rules of the road", and never obtain a Florida drivers license. These realities increase the hazard of car accidents.
Senior citizens
The climate in Miami, Fl not only attracts tourists and foreign nationals, it is a haven for senior citizens. As older drivers age, experience and caution does not compensate fully for impaired eyesight and slow reflexes. Once again, the chances for an accident are increased by this fact.
Automobile theft
According to the National Insurance Crime Bureau (NICB), Miami, Florida is the number one city for automobile theft. The port of Miami and an elevated number of high profile vehicles in the area contribute to this unsettling statistic. Higher risk necessarily translates to higher insurance premium.
Fraud
Fraud and abuse have permeated Personal Injury Protection (PIP) coverage which is required by Florida law. Medical, legal and other escalating costs associated with PIP materially affect the auto insurance premium in the Miami, Fl area. The Florida Department of Insurance has battled against this fraud for decades without much success.
Not all the aspects outlined are exclusive to the Miami, Fl area, however, the combination of them make Miami car insurance quotes and rates unique.
Auto Insurance Quote Review
Have you thought about asking for a free auto insurance quote on the internet? Are you concerned because you may not know anything about the company providing the quote? Are you wondering how you can find out about the reputation of the company giving you a quote, especially when it comes to paying out claims?
This article will tell you how to find out about insurance companies: their financial stability and how many consumer complaints they receive, how to ask for a quote so you can compare apples to apples, and results of online quotes from eight known auto insurance companies.
How to find out the stability of an insurance company
The financial stability of a company is rated by A.M. Best and Standard & Poor's. These companies provide an independent opinion of an insurance companies ability to meet its ongoing policy and contract obligations. The A.M. Best rating is expressed as a letter grade from A++ (the highest) to D. It is recommended that you do not work with companies rating B or lower. The Standard & Poor's Ratings range from triple A (the highest) to CC. It is recommended that you do not work with companies rating lower than BBB.
How to find out individual policy holder satisfaction with an insurance company
Annually J.D. Power and Associates gathers data from policy holders nationwide regarding policy options, pricing, automated phone service and overall satisfaction, with the insurance company providing their insurance. The best rating is 5.
How to Find Out the Number of Consumer Complaints
The Department of Insurance for each state provides the general public with consumer complaint ratios. This ratio helps the consumer to identify the number of complaints per number of claims filed. A maximum of forty companies are compared. If more than forty insurance companies have complaints, only the forty companies with the most complaints will be compared. It is recommended that the complaint ratio be checked in three or more states to identify specific insurance company trends. A ratio of less than one hundred is better than average.
How to ask for a quote so you can compare apples to apples
A response to the following information must be decided before asking for an auto insurance quote:
Car make, model, year, current mileage
Deductible amount for collision, comprehension and liability
Coverage for medical
Purpose for using the car
Miles driven per year
Number of designated drivers
Drivers ages
What is the result of performing the above steps?
The Auto Insurance companies used for this Auto Insurance Quote Review are 21st Century, Allstate, Esurance, Geico, Nationwide, Safeco, The Hartford. These companies were selected based on longevity in the business and their familiarity to consumers throughout the United States. The stability, consumer overall satisfaction (Sat.), policy options (Opt.), price (of premium) and automated phone service rated as follows.
J.D. Power and Associates
Insurance Co. AMBest S&P Sat. Opt. Price Phone
21st Century A A 3 3 4 2
Allstate A+ AA- 3 3 3 3
Esurance A- n/a n/a n/a n/a n/a
Geico A++ 3As 3 4 4 3
Nationwide A+ A+ 3 3 2 3
Safeco A A- 3 2 2 3
The Hartford A AA- 3 3 4 3
The number of consumer complaints for these auto insurance companies rated as follows in the states of Illinois, Minnesota, Missouri, Texas and Kentucky.
The Complaint Ratio for Five States
Insurance Co. IL MN MO TX KY
21st Century n/a n/a n/a 199 n/a
Allstate 55 130 130 165 19
Esurance n/a 212 212 455 0
Geico 33 149 128 132 116
Nationwide n/a 76 76 131 0
Safeco 29 117 117 71 25
The Hartford 29 n/a 454 200 54
The Auto Insurance Quote Sample
The following information was used for all quotes:
2006 Toyota Camry 4dr v6 engine LE
50,000 miles
Driven under 9000 miles per year
Used for pleasure
$100 Deductible for comprehensive and collision
$250,000/$500,000 Liability & collision
$10,000 medical
One car and two drivers
Auto Insurance Quotes
The following six month policy quotes were received from each of the companies listed below:
Company Quote
21st Century $237.68
AllState $392.00
Esurance $343.00
Geico $260.10
Nationwide $415.40
Safeco $281.00
The Hartford $375.00
Ways To Lower The Premium
Most insurance companies will offer discounts for the following events:
Save driving record for 3 - 5 years
No minor infractions for 3 years
Anti lock devices installed in your vehicle
No DUI for the last 3 - 5 years
License not suspended for the past 3 years
Good credit rating
Car owned rather than leased or financed
A second vehicle is also insured
Other types of insurance is also purchased from them
High risk drivers can expect to have a higher premium. Not all insurance companies will insure them. In addition when a high risk driver has an accident, the insured can expect difficulty when attempting to get the vehicle repaired using car manufactured parts. Generally auto insurance companies will pay only for the cheapest parts available.
Some insurance companies offer a lower premium for the first year as an enticement to encourage you to get your auto insurance coverage through them. So always ask about the second year premium price.
Is It a Good Idea to Get a Free Auto Insurance Quote Online? Yes! Do It Now.
It is a good idea. You have nothing to loose and much to gain. There is no charge to get a free auto insurance quote, except for the time it takes to ask for the quote. Do it today. You can find out for yourself how your current auto insurance premium compares to other auto insurance company premiums.
This article will tell you how to find out about insurance companies: their financial stability and how many consumer complaints they receive, how to ask for a quote so you can compare apples to apples, and results of online quotes from eight known auto insurance companies.
How to find out the stability of an insurance company
The financial stability of a company is rated by A.M. Best and Standard & Poor's. These companies provide an independent opinion of an insurance companies ability to meet its ongoing policy and contract obligations. The A.M. Best rating is expressed as a letter grade from A++ (the highest) to D. It is recommended that you do not work with companies rating B or lower. The Standard & Poor's Ratings range from triple A (the highest) to CC. It is recommended that you do not work with companies rating lower than BBB.
How to find out individual policy holder satisfaction with an insurance company
Annually J.D. Power and Associates gathers data from policy holders nationwide regarding policy options, pricing, automated phone service and overall satisfaction, with the insurance company providing their insurance. The best rating is 5.
How to Find Out the Number of Consumer Complaints
The Department of Insurance for each state provides the general public with consumer complaint ratios. This ratio helps the consumer to identify the number of complaints per number of claims filed. A maximum of forty companies are compared. If more than forty insurance companies have complaints, only the forty companies with the most complaints will be compared. It is recommended that the complaint ratio be checked in three or more states to identify specific insurance company trends. A ratio of less than one hundred is better than average.
How to ask for a quote so you can compare apples to apples
A response to the following information must be decided before asking for an auto insurance quote:
Car make, model, year, current mileage
Deductible amount for collision, comprehension and liability
Coverage for medical
Purpose for using the car
Miles driven per year
Number of designated drivers
Drivers ages
What is the result of performing the above steps?
The Auto Insurance companies used for this Auto Insurance Quote Review are 21st Century, Allstate, Esurance, Geico, Nationwide, Safeco, The Hartford. These companies were selected based on longevity in the business and their familiarity to consumers throughout the United States. The stability, consumer overall satisfaction (Sat.), policy options (Opt.), price (of premium) and automated phone service rated as follows.
J.D. Power and Associates
Insurance Co. AMBest S&P Sat. Opt. Price Phone
21st Century A A 3 3 4 2
Allstate A+ AA- 3 3 3 3
Esurance A- n/a n/a n/a n/a n/a
Geico A++ 3As 3 4 4 3
Nationwide A+ A+ 3 3 2 3
Safeco A A- 3 2 2 3
The Hartford A AA- 3 3 4 3
The number of consumer complaints for these auto insurance companies rated as follows in the states of Illinois, Minnesota, Missouri, Texas and Kentucky.
The Complaint Ratio for Five States
Insurance Co. IL MN MO TX KY
21st Century n/a n/a n/a 199 n/a
Allstate 55 130 130 165 19
Esurance n/a 212 212 455 0
Geico 33 149 128 132 116
Nationwide n/a 76 76 131 0
Safeco 29 117 117 71 25
The Hartford 29 n/a 454 200 54
The Auto Insurance Quote Sample
The following information was used for all quotes:
2006 Toyota Camry 4dr v6 engine LE
50,000 miles
Driven under 9000 miles per year
Used for pleasure
$100 Deductible for comprehensive and collision
$250,000/$500,000 Liability & collision
$10,000 medical
One car and two drivers
Auto Insurance Quotes
The following six month policy quotes were received from each of the companies listed below:
Company Quote
21st Century $237.68
AllState $392.00
Esurance $343.00
Geico $260.10
Nationwide $415.40
Safeco $281.00
The Hartford $375.00
Ways To Lower The Premium
Most insurance companies will offer discounts for the following events:
Save driving record for 3 - 5 years
No minor infractions for 3 years
Anti lock devices installed in your vehicle
No DUI for the last 3 - 5 years
License not suspended for the past 3 years
Good credit rating
Car owned rather than leased or financed
A second vehicle is also insured
Other types of insurance is also purchased from them
High risk drivers can expect to have a higher premium. Not all insurance companies will insure them. In addition when a high risk driver has an accident, the insured can expect difficulty when attempting to get the vehicle repaired using car manufactured parts. Generally auto insurance companies will pay only for the cheapest parts available.
Some insurance companies offer a lower premium for the first year as an enticement to encourage you to get your auto insurance coverage through them. So always ask about the second year premium price.
Is It a Good Idea to Get a Free Auto Insurance Quote Online? Yes! Do It Now.
It is a good idea. You have nothing to loose and much to gain. There is no charge to get a free auto insurance quote, except for the time it takes to ask for the quote. Do it today. You can find out for yourself how your current auto insurance premium compares to other auto insurance company premiums.
Popular Auto Insurance Companies
The American auto insurance sector is characterized by the presence of a large number of players. Some are large general insurance companies that have diversified into auto insurance and some are pure play auto insurance companies. Here are some of the notable players in auto insurance business.
State Farm Insurance is one such company. It is a national insurance company and one of the biggest general insurance companies in the US. For the year 2003, the company had a revenue of about $56 billion. Headquartered in Bloomington, Illinois, State Farm Insurance is a very popular auto insurance provider in the US. With a nationwide network of branches and attractive discounts for various categories of people SFI has an edge over its competitors. SFI is also the largest insurer of cars, trucks and SUVs in the US.
American International Group or AIG is another big company. It is the second largest general insurer and also the second largest auto insurer in the US. The Farmers Insurance Group of Companies is one of the largest general insurer and the third largest auto insurer in the US. Like SFI, this company has also got a large network of branches in all the states in the US.
Apart from these, there are other players in the American market. Some of them are 21st century Auto Insurance Group, which has its strength in auto insurance space and operates in eight states. Some niche players include Auto Owners Insurance, which has been operating in the nation since 1916 and covers 22 states across the nation.
One feature of the American auto insurance space is that there is room for all players ? general insurers who have diversified into auto insurance business and auto insurance specialists.
State Farm Insurance is one such company. It is a national insurance company and one of the biggest general insurance companies in the US. For the year 2003, the company had a revenue of about $56 billion. Headquartered in Bloomington, Illinois, State Farm Insurance is a very popular auto insurance provider in the US. With a nationwide network of branches and attractive discounts for various categories of people SFI has an edge over its competitors. SFI is also the largest insurer of cars, trucks and SUVs in the US.
American International Group or AIG is another big company. It is the second largest general insurer and also the second largest auto insurer in the US. The Farmers Insurance Group of Companies is one of the largest general insurer and the third largest auto insurer in the US. Like SFI, this company has also got a large network of branches in all the states in the US.
Apart from these, there are other players in the American market. Some of them are 21st century Auto Insurance Group, which has its strength in auto insurance space and operates in eight states. Some niche players include Auto Owners Insurance, which has been operating in the nation since 1916 and covers 22 states across the nation.
One feature of the American auto insurance space is that there is room for all players ? general insurers who have diversified into auto insurance business and auto insurance specialists.
Where is the Best Place to Buy Cheap Auto Insurance?
Insurance for your auto is a basic part of life in the modern world.
If you buy a policy, its really not a big deal anymore. Buyers have many options regarding where to make their purchase. Purchasing online helps you to avoid excitable agents, which can't be all bad.
Customers are provided with enough time by online automobile insurance providers to compare different quotes. This informs consumers and allows them to make better smarter decisions. Online insurance gives shoppers a one-stop site for finding an agent. You don't have to rely on luck to find a good insurance agent. Buying insurance online keeps you out of the sales talk and keeps you from falling prey to the pushy insurance agents.
The most famous auto insurer is likely Geico. It is popular now due to its familiar caveman and gecko Fico Topical advertisements. They maintain a website, like almost all other business in today's market. You will be able to get auto insurance quotes that suit your needs.
AIG (AIG insurance organization): AIG is a prominent insurance group that has global services. I falls under the topping of high ranked car insurance in the US. The various auto plans for institutional,commercial and individual consumers is written down by its official members. It has numerous branches around the world and its distribution channels span 130 countries.
In California, 21st Century Insurance ranks seventh in size among companies providing auto insurance. Having stated it insured at least one. Cars by the millions. Our popular one-stop-shop coverage in California includes motorcycle, automobile and umbrella needs. Its offers are available in the following states as well: Washington, Illinois, Arizona, Indiana, Ohio and Nevada.
Referrals from current auto policy holders account for a major portion of 21st Century Insurance's business. On average, the annual current policyholder renewal rate is more than 93%. Its is on record for $1 in 2003.There were premiums over over two hundred billion.246,000,000,000, then $1 counted in assets.seven hundred million
Progressive Group of Companies: Providing car insurance to over twelve million people and third largest in the U.S. is The Progressive Group. The improved consumer experience is the result of its use of the latest technological breakthroughs and innovative schemes. All of the insurance companies offer quotes and additional information on their services on their website.
Auto insurance policies are available for sale to consumers from any insurer's brokers or sales people. Sales people and brokers are required to have licenses per the law. The law requires that an insurance sales person is employed by a certain company. Their responsibility is to offer details about various coverage plans available just through their firm.
Policies from various insurance companies can be sold by licensed auto insurance brokers. Using a client's budget as a guideline, a broker helps that client select the optimum auto insurance deal.
If you buy a policy, its really not a big deal anymore. Buyers have many options regarding where to make their purchase. Purchasing online helps you to avoid excitable agents, which can't be all bad.
Customers are provided with enough time by online automobile insurance providers to compare different quotes. This informs consumers and allows them to make better smarter decisions. Online insurance gives shoppers a one-stop site for finding an agent. You don't have to rely on luck to find a good insurance agent. Buying insurance online keeps you out of the sales talk and keeps you from falling prey to the pushy insurance agents.
The most famous auto insurer is likely Geico. It is popular now due to its familiar caveman and gecko Fico Topical advertisements. They maintain a website, like almost all other business in today's market. You will be able to get auto insurance quotes that suit your needs.
AIG (AIG insurance organization): AIG is a prominent insurance group that has global services. I falls under the topping of high ranked car insurance in the US. The various auto plans for institutional,commercial and individual consumers is written down by its official members. It has numerous branches around the world and its distribution channels span 130 countries.
In California, 21st Century Insurance ranks seventh in size among companies providing auto insurance. Having stated it insured at least one. Cars by the millions. Our popular one-stop-shop coverage in California includes motorcycle, automobile and umbrella needs. Its offers are available in the following states as well: Washington, Illinois, Arizona, Indiana, Ohio and Nevada.
Referrals from current auto policy holders account for a major portion of 21st Century Insurance's business. On average, the annual current policyholder renewal rate is more than 93%. Its is on record for $1 in 2003.There were premiums over over two hundred billion.246,000,000,000, then $1 counted in assets.seven hundred million
Progressive Group of Companies: Providing car insurance to over twelve million people and third largest in the U.S. is The Progressive Group. The improved consumer experience is the result of its use of the latest technological breakthroughs and innovative schemes. All of the insurance companies offer quotes and additional information on their services on their website.
Auto insurance policies are available for sale to consumers from any insurer's brokers or sales people. Sales people and brokers are required to have licenses per the law. The law requires that an insurance sales person is employed by a certain company. Their responsibility is to offer details about various coverage plans available just through their firm.
Policies from various insurance companies can be sold by licensed auto insurance brokers. Using a client's budget as a guideline, a broker helps that client select the optimum auto insurance deal.
21st Century Auto Insurance Coupons
If you are the owner of a new automobile and you need to save on insurance, you need to go to 21st century auto insurance company. This is a company that will offer you great deals on auto insurance. The company insures more than 1.2 million vehicles and it covers personal vehicles and motorcycles depending on the location you are at. The best thing about the auto insurance is that you can save up to 21% with the 21st century auto coupons. Coupons are a great way to ensure that you enjoy many discount offers. It will be vital to know that the company operates in several states only and they include California, Texas, Arizona, Indiana and Illinois. If you go to the 21st century auto insurance site, you are bound to learn more on the 21st century auto coupons available.
Usually, the most important thing you have to always consider about coupons is the validity. But, before you determine when they will expire, you need to know the kind of coupon you are getting. Going through all the coupons that are available will give you an idea of the most promising. There are times where you will find that there are no 21st century auto insurance coupons to use and, you have to keep on checking so that you do not miss them. The best thing to do if you already have coupons is to find out whether they can be redeemed and this will be done by following the simple instructions as provided in their site.
There are many reasons why you should go for 21st century auto insurance coupons and the main one is to save some amount of money. When you associate yourself with the company, you will be getting a quality service with a customer service which is available 24 hours a day. Majority of people who come to the company are reported to save money. There is nothing as refreshing to a consumer than to know that there is a good amount to be saved. If you want to get the most out of your 21st century auto insurance coupons and codes, you must use them in a correct and accurate way. Otherwise, you will be informed that they are invalid for use.
Sometimes, the 21st century auto insurance coupons may be faulty and you need to make use of the customer service available. It is good not to be ignorant of the coupon offers and, when you realize that they can actually save you money, you will value them even more. Get to read reviews on 21st century auto insurance coupons and consumers will account how they found the coupons helpful. Remember to empower yourself with more information so that you can make good decisions that will enhance your life. Do not forget how to use the coupon codes properly and, accuracy cannot be stressed enough. If you find the company efficient in service provision, do not forget to recommend it to somebody.
Usually, the most important thing you have to always consider about coupons is the validity. But, before you determine when they will expire, you need to know the kind of coupon you are getting. Going through all the coupons that are available will give you an idea of the most promising. There are times where you will find that there are no 21st century auto insurance coupons to use and, you have to keep on checking so that you do not miss them. The best thing to do if you already have coupons is to find out whether they can be redeemed and this will be done by following the simple instructions as provided in their site.
There are many reasons why you should go for 21st century auto insurance coupons and the main one is to save some amount of money. When you associate yourself with the company, you will be getting a quality service with a customer service which is available 24 hours a day. Majority of people who come to the company are reported to save money. There is nothing as refreshing to a consumer than to know that there is a good amount to be saved. If you want to get the most out of your 21st century auto insurance coupons and codes, you must use them in a correct and accurate way. Otherwise, you will be informed that they are invalid for use.
Sometimes, the 21st century auto insurance coupons may be faulty and you need to make use of the customer service available. It is good not to be ignorant of the coupon offers and, when you realize that they can actually save you money, you will value them even more. Get to read reviews on 21st century auto insurance coupons and consumers will account how they found the coupons helpful. Remember to empower yourself with more information so that you can make good decisions that will enhance your life. Do not forget how to use the coupon codes properly and, accuracy cannot be stressed enough. If you find the company efficient in service provision, do not forget to recommend it to somebody.
21St Century Auto Insurance for Teens - The Right Choice to Insure Your Teen
For teens, the days of being able to drive a car have finally arrived. They are thrilled and scared at the same time. They've already decided what kind of car they want, but have given very little to no thought at all of the car insurance they'll need. 21st Century Auto Insurance can offer the coverage a teen driver needs.
Are teens allowed to purchase car insurance?
Teen drivers under the age of 18 are not permitted to purchase their own car insurance so they are placed on a parent's policy. The parents of teen drivers who have 21st Century Car Insurance can add their teens to their policy and the teens are given policies in their own names. This limits the risk of parents having their auto insurance canceled if their teen causes an accident.
Why must teens have car insurance?
Every driver must be insured according to state laws. These laws differ from state to state but all states require at least the minimum auto insurance in order to obtain a driver's license and purchase car tags.
21st Century Car Insurance protects the teen and the family from having to repair or replace a vehicle out-of-pocket. Other drivers must also be protected in case of an accident. If there is a car loan the creditor will insist the car is covered by an insurance policy to protect their interest in the vehicle.
How much coverage do teen drivers need?
Each state determines the minimum amount of coverage allowed; however, this may not be enough to fully protect the family from financial disaster. If you want to save on monthly premium payments 21st Century Auto Insurance will allow you to select the highest deductible you can afford.
If you have a credit score of 700 or above you may be eligible for a lower rate. You can also save money by driving a car that is cheaper to insure. Teens with high grade point averages are offered lower rates at 21st Century Auto Insurance.
Are teens allowed to purchase car insurance?
Teen drivers under the age of 18 are not permitted to purchase their own car insurance so they are placed on a parent's policy. The parents of teen drivers who have 21st Century Car Insurance can add their teens to their policy and the teens are given policies in their own names. This limits the risk of parents having their auto insurance canceled if their teen causes an accident.
Why must teens have car insurance?
Every driver must be insured according to state laws. These laws differ from state to state but all states require at least the minimum auto insurance in order to obtain a driver's license and purchase car tags.
21st Century Car Insurance protects the teen and the family from having to repair or replace a vehicle out-of-pocket. Other drivers must also be protected in case of an accident. If there is a car loan the creditor will insist the car is covered by an insurance policy to protect their interest in the vehicle.
How much coverage do teen drivers need?
Each state determines the minimum amount of coverage allowed; however, this may not be enough to fully protect the family from financial disaster. If you want to save on monthly premium payments 21st Century Auto Insurance will allow you to select the highest deductible you can afford.
If you have a credit score of 700 or above you may be eligible for a lower rate. You can also save money by driving a car that is cheaper to insure. Teens with high grade point averages are offered lower rates at 21st Century Auto Insurance.
Geico Insurance and 21st Century Insurance - An Offline and Online Comparison
When it comes to car insurance, Geico and 21st Century are pretty much well-known. Geico is considered to be bigger and this is largely thanks to their massive marketing campaigns. In fact, even though a person seeking auto insurance may not sign up with Geico, he or she will almost always get a quote from them simply because of brand recall.
On the other hand, 21st Century has a very nice tagline: "You live in the 21st Century. Isn't it about time your car insurance company joined you there?" This gives the potential customer the immediate feel that he's signing up with a carrier that understands car protection and problems in today's world.
Marketing aside though, which is the better carrier?
Geico Insurance: Online Presence, Offline User Experience
As Geico is such a huge company, it's not surprising that its website is also very big and detailed. The site is user-friendly, easy to navigate, provides good facilities to get a free quote fast, and has an excellent online system where you can file claims. There's also a lot of information you can read on their site regarding other types of coverage such as flood insurance, overseas coverage, condo policies, and more!
Offline, user reviews about Geico are mixed. On the good side, people believe that the carrier offers highly competitive rates, offer great customer service, and that their claims have been resolved quickly. Still, there are some who complain that it's a nightmare when you start making claims. Those for Geico argue that everything is writing in the small print. And so if your contract does not provide coverage for a certain thing, then your claims on that will not be paid. Of course, many argue that they have valid claims and are just not being paid.
21st Century Insurance: Online Presence, Offline User Experience
As for their website, 21st Century's seems a bit on the simple side. However, start clicking around and you'll soon end up on the information you need. It's easy to get a quote, they provide various other types of policies (earthquake, flood, homeowners, etc.) and they also offer a good facility to make claims online.
Offline, there's one negative thing that keeps on resonating during our research: many are unpleased with their customer service. In fact, many complain that they get hung up on(!) while in the middle of asking for a quote or filing a claim.
On the good side, many do agree that the company is true to its claim that they offer lower rates on car insurance.
As everybody has his own unique situation, it's important that you do extensive research before signing up with ANY car insurance provider. For starters, give Geico and 21st Century a call and ask for a free quote and see for yourself how their agents treat you. Once you get the quote, be sure to compare them point by point. Don't just look at the premium rate but on what it actually covers.
On the other hand, 21st Century has a very nice tagline: "You live in the 21st Century. Isn't it about time your car insurance company joined you there?" This gives the potential customer the immediate feel that he's signing up with a carrier that understands car protection and problems in today's world.
Marketing aside though, which is the better carrier?
Geico Insurance: Online Presence, Offline User Experience
As Geico is such a huge company, it's not surprising that its website is also very big and detailed. The site is user-friendly, easy to navigate, provides good facilities to get a free quote fast, and has an excellent online system where you can file claims. There's also a lot of information you can read on their site regarding other types of coverage such as flood insurance, overseas coverage, condo policies, and more!
Offline, user reviews about Geico are mixed. On the good side, people believe that the carrier offers highly competitive rates, offer great customer service, and that their claims have been resolved quickly. Still, there are some who complain that it's a nightmare when you start making claims. Those for Geico argue that everything is writing in the small print. And so if your contract does not provide coverage for a certain thing, then your claims on that will not be paid. Of course, many argue that they have valid claims and are just not being paid.
21st Century Insurance: Online Presence, Offline User Experience
As for their website, 21st Century's seems a bit on the simple side. However, start clicking around and you'll soon end up on the information you need. It's easy to get a quote, they provide various other types of policies (earthquake, flood, homeowners, etc.) and they also offer a good facility to make claims online.
Offline, there's one negative thing that keeps on resonating during our research: many are unpleased with their customer service. In fact, many complain that they get hung up on(!) while in the middle of asking for a quote or filing a claim.
On the good side, many do agree that the company is true to its claim that they offer lower rates on car insurance.
As everybody has his own unique situation, it's important that you do extensive research before signing up with ANY car insurance provider. For starters, give Geico and 21st Century a call and ask for a free quote and see for yourself how their agents treat you. Once you get the quote, be sure to compare them point by point. Don't just look at the premium rate but on what it actually covers.
21St Century Auto Insurance Claims Processing
Drivers purchase auto insurance in order to protect themselves from financial problems due to collisions or other damage to their vehicles. Car insurance enables a car owner to pay for repairs or replace their car, the car of the other driver if a collision is involved, and pay for injuries. Drivers need an auto insurance company that settles claims quickly and professionally. This article examines 21st Century Auto Insurance for their quality in settling claims.
There seems to be just as many 21st Century Auto Insurance customers who feel that the company is professional and prompt in settling claims overall as there are who searched for another auto insurance company after being turned down for coverage after an accident.
Satisfied Customers
Many customers feel that 21st Century Auto Insurance is a good company for settling claims. There are customers who are satisfied with the amount of money they received to have their cars repaired but they have complaints that the company takes too long to settle a claim. Other satisfied customers feel that 21st Century Insurance was more than fair at paying for their totaled cars. They experienced a fair payment for their cars that were totaled in an accident.
Dissatisfied Customers
There have been some very dissatisfied customers at 21st Century Insurance. Many feel that the company abandons the customer as soon as there is a claim. Comments about the company's slow response to a claim are numerous.
Many of the customers have had 21st Century as their carrier for 3 to 10 years on average. Several of them had not filed a claim in all the time they were customers. However, it seems that as soon as a claim is filed they are ignored or their policies canceled.
Messages left on voice mail are not returned by the claims adjuster. There have been instances when a claims adjuster never shows up to assess the damage. It takes repeated calls and letters to district managers with complaints in order to get any response.
There are several complaints that 21st Century does not thoroughly investigate claims before settling with the other party. Customer's premiums are then doubled or tripled.
It seems that the claims division has customers who are pleased with the way they handle claims and others who have left the company because of unprofessional treatment and long waits for settlements. Proceed with caution.
There seems to be just as many 21st Century Auto Insurance customers who feel that the company is professional and prompt in settling claims overall as there are who searched for another auto insurance company after being turned down for coverage after an accident.
Satisfied Customers
Many customers feel that 21st Century Auto Insurance is a good company for settling claims. There are customers who are satisfied with the amount of money they received to have their cars repaired but they have complaints that the company takes too long to settle a claim. Other satisfied customers feel that 21st Century Insurance was more than fair at paying for their totaled cars. They experienced a fair payment for their cars that were totaled in an accident.
Dissatisfied Customers
There have been some very dissatisfied customers at 21st Century Insurance. Many feel that the company abandons the customer as soon as there is a claim. Comments about the company's slow response to a claim are numerous.
Many of the customers have had 21st Century as their carrier for 3 to 10 years on average. Several of them had not filed a claim in all the time they were customers. However, it seems that as soon as a claim is filed they are ignored or their policies canceled.
Messages left on voice mail are not returned by the claims adjuster. There have been instances when a claims adjuster never shows up to assess the damage. It takes repeated calls and letters to district managers with complaints in order to get any response.
There are several complaints that 21st Century does not thoroughly investigate claims before settling with the other party. Customer's premiums are then doubled or tripled.
It seems that the claims division has customers who are pleased with the way they handle claims and others who have left the company because of unprofessional treatment and long waits for settlements. Proceed with caution.
21st Century Insurance
Today everything in life is so unpredictable that we cannot determine when disaster will strike us. Everything we posses is also so temporary and any time these possessions can get damaged.
So with so much uncertainties it is better to think wisely and get everything we possess insured, be it business, life, health and even the vehicles. Today everything is so expensive. We have to think twice before buying even a two wheeler because we must see if we can afford to pay the EMI's.
An auto insurance is insurance purchased for cars, trucks and other vehicles. The primary reason is to get protection against losses incurred by accidents, thefts and also to incur the damage caused by the third party because of your vehicle.
These are the things that have to be considered before buying a vehicle since buying a vehicle is easy but maintenance is difficult. There are many companies that give today. The best one being the. It is a good decision to invest in auto insurance because of the uncertainty of life. 21st century insurance is an auto insurance company that primarily sells this. The best thing about 21st century insurance is that they sell auto insurance through direct channels. company do not involve any insurance agents. This is an advantage to the customer for two reasons.
The first being there will be no need to give any money as commission to these insurance agents and the customer will be protected from any potential fraud that an insurance agent may commit. There are cases where these insurance agents will use false statements to close an insurance deal and earn handsome commission.
All this can be avoided if you get an auto insurance from 21ST Century insurance company. Secondly a customer will get genuine and clear information on the things that the insurance covers. The marketing strategy of 21st century insurance is so smart that they do not want the people to get cheated. Also when a customer makes a claim 21st century insurance will process it as soon as possible and deliver the money to incur the damage caused.
Their are policies cover a lot of situations that other auto insurance companies do not like third party mishaps. 21st century insurance will even incur the damaged caused to the third party and all these make this the best auto insurance provider.
So with so much uncertainties it is better to think wisely and get everything we possess insured, be it business, life, health and even the vehicles. Today everything is so expensive. We have to think twice before buying even a two wheeler because we must see if we can afford to pay the EMI's.
An auto insurance is insurance purchased for cars, trucks and other vehicles. The primary reason is to get protection against losses incurred by accidents, thefts and also to incur the damage caused by the third party because of your vehicle.
These are the things that have to be considered before buying a vehicle since buying a vehicle is easy but maintenance is difficult. There are many companies that give today. The best one being the. It is a good decision to invest in auto insurance because of the uncertainty of life. 21st century insurance is an auto insurance company that primarily sells this. The best thing about 21st century insurance is that they sell auto insurance through direct channels. company do not involve any insurance agents. This is an advantage to the customer for two reasons.
The first being there will be no need to give any money as commission to these insurance agents and the customer will be protected from any potential fraud that an insurance agent may commit. There are cases where these insurance agents will use false statements to close an insurance deal and earn handsome commission.
All this can be avoided if you get an auto insurance from 21ST Century insurance company. Secondly a customer will get genuine and clear information on the things that the insurance covers. The marketing strategy of 21st century insurance is so smart that they do not want the people to get cheated. Also when a customer makes a claim 21st century insurance will process it as soon as possible and deliver the money to incur the damage caused.
Their are policies cover a lot of situations that other auto insurance companies do not like third party mishaps. 21st century insurance will even incur the damaged caused to the third party and all these make this the best auto insurance provider.
Bad Credit Home Equity Line of Credit - Choosing the Right Lender
A home equity line of credit allows you to draw on your home's equity
without having to pay for closing rates. For those with bad credit,
credit secured by your equity can provide you with low rates. Using your
credit wisely, you can use a line of credit to reestablish a good credit
rating. However, you need to choose the right lender to be sure you are
getting a good deal on your rates and fees.
What To Look For In A Home Equity Line Of Credit
With poor credit, you need to be especially careful of the terms you
agree to with a line of credit. With most lenders, you will not have to
pay any closing fees. So you save on upfront costs of a second mortgage.
Your rates can be fixed or adjustable. With most lenders, adjustable
rates start out lower than fixed rate loans. Lines of credit also allow
you to borrow funds as needed. So you only pay interest on the amount
you use.
Fees are also part of a line of credit. You may possibly have early
payment, minimum balance, or other fees. Before signing a contract,
understand how fees will affect your credit plans. For example, if you want
to pay off your line of credit in a year, then ask for an early payment
fee to be removed.
Different Lenders Mean Different Terms
Different lenders write their loan terms differently. Variations in
rates should be expected, but so should differences in fees, payment
schedules, and future refinancing possibilities.
While low rates are important, also take a look at terms when
considering lenders. Savings can also be found by picking financing with low
fees for balances and refinancing.
How To Compare Lenders
To compare lenders, you need to start by requesting credit quotes. With
adverse credit scores, work with sub-prime lenders.
Most companies use a website where you can enter your information to
get an instant quote. Besides looking at rates, also note the terms.
Most financial offers will disclose fees, payment structure, and
refinancing costs. If they don't list basic terms, then request additional
information before committing to an offer.
without having to pay for closing rates. For those with bad credit,
credit secured by your equity can provide you with low rates. Using your
credit wisely, you can use a line of credit to reestablish a good credit
rating. However, you need to choose the right lender to be sure you are
getting a good deal on your rates and fees.
What To Look For In A Home Equity Line Of Credit
With poor credit, you need to be especially careful of the terms you
agree to with a line of credit. With most lenders, you will not have to
pay any closing fees. So you save on upfront costs of a second mortgage.
Your rates can be fixed or adjustable. With most lenders, adjustable
rates start out lower than fixed rate loans. Lines of credit also allow
you to borrow funds as needed. So you only pay interest on the amount
you use.
Fees are also part of a line of credit. You may possibly have early
payment, minimum balance, or other fees. Before signing a contract,
understand how fees will affect your credit plans. For example, if you want
to pay off your line of credit in a year, then ask for an early payment
fee to be removed.
Different Lenders Mean Different Terms
Different lenders write their loan terms differently. Variations in
rates should be expected, but so should differences in fees, payment
schedules, and future refinancing possibilities.
While low rates are important, also take a look at terms when
considering lenders. Savings can also be found by picking financing with low
fees for balances and refinancing.
How To Compare Lenders
To compare lenders, you need to start by requesting credit quotes. With
adverse credit scores, work with sub-prime lenders.
Most companies use a website where you can enter your information to
get an instant quote. Besides looking at rates, also note the terms.
Most financial offers will disclose fees, payment structure, and
refinancing costs. If they don't list basic terms, then request additional
information before committing to an offer.
No Income Verification Home Equity Loan
A no income verification home equity loan is a second mortgage loan that does not require you to provide income documentation to qualify for the loan. This type of loan is great for homeowners who need a home equity loan but have hard to document income.
The majority of borrowers with hard to document income are either self-employed or commission based employees. Consumers who fall under these categories may have high income but have a lot of business related deductions that they write off on their taxes. This is good on the one hand as it reduces the taxable income and thus the amount of taxes owed, however, when it comes to getting a home loan it can hurt as most lenders use the average of your last 2 years taxable net income (the amount left after all of your deductions) to determine your income figure for qualifying purposes. This may cause you to have a debt to income ratio problem if you have a high debt load and thus keep you from qualifying for the loan. With a no income verification home equity loan, however, your gross income can be used for qualifying purposes as opposed to the net income.
In order to qualify for a no income verification home equity loan you will, in most cases, need good credit and a high credit score. Expect to pay a higher rate for this type of loan as opposed to a traditional loan in which you have to document your income. Also, even though a no income verification loan does not require you to document your income, some lenders may require that you have a certain dollar value of assets on hand which must be verified. Not all lenders have this requirement though - some lenders offer a program called NINA which stands for "no income no assets" meaning you do not have to document either. Loan guidelines and rates vary from lender to lender so it is a good idea to shop around to increase your chances of getting the best deal available to you.
The majority of borrowers with hard to document income are either self-employed or commission based employees. Consumers who fall under these categories may have high income but have a lot of business related deductions that they write off on their taxes. This is good on the one hand as it reduces the taxable income and thus the amount of taxes owed, however, when it comes to getting a home loan it can hurt as most lenders use the average of your last 2 years taxable net income (the amount left after all of your deductions) to determine your income figure for qualifying purposes. This may cause you to have a debt to income ratio problem if you have a high debt load and thus keep you from qualifying for the loan. With a no income verification home equity loan, however, your gross income can be used for qualifying purposes as opposed to the net income.
In order to qualify for a no income verification home equity loan you will, in most cases, need good credit and a high credit score. Expect to pay a higher rate for this type of loan as opposed to a traditional loan in which you have to document your income. Also, even though a no income verification loan does not require you to document your income, some lenders may require that you have a certain dollar value of assets on hand which must be verified. Not all lenders have this requirement though - some lenders offer a program called NINA which stands for "no income no assets" meaning you do not have to document either. Loan guidelines and rates vary from lender to lender so it is a good idea to shop around to increase your chances of getting the best deal available to you.
What Are the Home Equity Loan Rules in Texas?
The state of Texas has some pretty interesting refinance rules. This is especially true when one wants to pull cash or equity out of their home.
There are two types of mortgage refinances. The first type is called a rate and term refinance. This is simply when someone wants to lower their rate or change the term of their original home loan. For example, someone with a 30 year mortgage at 7% may want to refinance to a 5.25%, 15 year mortgage.
In this instance they are not pulling cash out they are just changing the rate and/or the term of their original loan. During the "refinance boom" (2001-2004) many loan officer and mortgage brokers did dozens and dozens of rate and term refinances because mortgage rates dropped so low.
Most people refinance when their home loans when the market rate is much lower than their current mortgage rate. A good rule of thumb is when you can save about 1% it may make sense to refinance.
The second type of refinance is called a Texas Cash out Refinance. This is when someone wants to pull cash out of their home in addition to lowering or changing the rate or term.
Texas once outlawed the ability to pull cash out of one's home but now allow this as long as the loan meets these criteria:
80% Texas Cash Out Rule: This rule states one that the loan can not exceed 80% of the home's appraised value.
For example, if one's home is worth $100,000 and the current mortgage owed is $50,000 than an equity loan can go up to $80,000 (80% of 100k). Thereby netting the borrower $30,000, less closing costs.
3% rule: This rule state that the total fees can not exceed 3% of the loan's value. For example, if someone does a 100K equity loan the total fees can not exceed $3000. This means broker, title, survey, appraisal, underwriting, doc/prep (everything!) can't exceed 3%. This law was intended to protect borrowers but it actually penalizes lower loan amounts making it difficult for those with small loans to take advantage of their equity.
This is a great example of regulation doing the opposite than what it was intended. So for those with loan amounts under 100K, it's very difficult to do a home equity loan as state law also requires one to purchase a new title policy each time one refinance. Title policies usually run 1% of the loan amount.
However, it's important to note that the 3% law does not apply for those doing an investment cash out home equity. So it's actually easier to do a home equity loan on an investment property than on an owner occupied property in Texas!
12 Day rule: This is one of the more unique rules. Whenever you do a home equity loan your loan officer or mortgage broker will ask you to sign a 12 day form. This form states that the loan can't close until 12 days after the date of the application. I guess the state of Texas wants you to have 12 full days to think about your loan!
3 day rule: Then, after we wait 12 days, we are required to wait 3 days until we fund. Not to mention one is required to look and sign the final HUD (settlement statement) 24 hours before closing.
So to make things simple: The loan can't close for 12 days. Then, once the HUD is prepared by the title company the borrower(s) must review and sign the HUD 24 hours before we close. Then we can't fund the loan for 3 full business days.
These rules are why it often takes 30 full days to fund a Texas Cash out loan.
Oh, and by the way. The final rule...one must wait 12 full months between home equity loans. So if you do a Texas cash out one year and the price of your home goes up significantly you must wait a year before refinancing.
Because Texas home equity loans have so many rules it is important your mortgage professional truly know the rules so everything goes smoothly with your refinance.
There are two types of mortgage refinances. The first type is called a rate and term refinance. This is simply when someone wants to lower their rate or change the term of their original home loan. For example, someone with a 30 year mortgage at 7% may want to refinance to a 5.25%, 15 year mortgage.
In this instance they are not pulling cash out they are just changing the rate and/or the term of their original loan. During the "refinance boom" (2001-2004) many loan officer and mortgage brokers did dozens and dozens of rate and term refinances because mortgage rates dropped so low.
Most people refinance when their home loans when the market rate is much lower than their current mortgage rate. A good rule of thumb is when you can save about 1% it may make sense to refinance.
The second type of refinance is called a Texas Cash out Refinance. This is when someone wants to pull cash out of their home in addition to lowering or changing the rate or term.
Texas once outlawed the ability to pull cash out of one's home but now allow this as long as the loan meets these criteria:
80% Texas Cash Out Rule: This rule states one that the loan can not exceed 80% of the home's appraised value.
For example, if one's home is worth $100,000 and the current mortgage owed is $50,000 than an equity loan can go up to $80,000 (80% of 100k). Thereby netting the borrower $30,000, less closing costs.
3% rule: This rule state that the total fees can not exceed 3% of the loan's value. For example, if someone does a 100K equity loan the total fees can not exceed $3000. This means broker, title, survey, appraisal, underwriting, doc/prep (everything!) can't exceed 3%. This law was intended to protect borrowers but it actually penalizes lower loan amounts making it difficult for those with small loans to take advantage of their equity.
This is a great example of regulation doing the opposite than what it was intended. So for those with loan amounts under 100K, it's very difficult to do a home equity loan as state law also requires one to purchase a new title policy each time one refinance. Title policies usually run 1% of the loan amount.
However, it's important to note that the 3% law does not apply for those doing an investment cash out home equity. So it's actually easier to do a home equity loan on an investment property than on an owner occupied property in Texas!
12 Day rule: This is one of the more unique rules. Whenever you do a home equity loan your loan officer or mortgage broker will ask you to sign a 12 day form. This form states that the loan can't close until 12 days after the date of the application. I guess the state of Texas wants you to have 12 full days to think about your loan!
3 day rule: Then, after we wait 12 days, we are required to wait 3 days until we fund. Not to mention one is required to look and sign the final HUD (settlement statement) 24 hours before closing.
So to make things simple: The loan can't close for 12 days. Then, once the HUD is prepared by the title company the borrower(s) must review and sign the HUD 24 hours before we close. Then we can't fund the loan for 3 full business days.
These rules are why it often takes 30 full days to fund a Texas Cash out loan.
Oh, and by the way. The final rule...one must wait 12 full months between home equity loans. So if you do a Texas cash out one year and the price of your home goes up significantly you must wait a year before refinancing.
Because Texas home equity loans have so many rules it is important your mortgage professional truly know the rules so everything goes smoothly with your refinance.
What is Home Equity Loan Modification?
Home equity loan modification is a change in which you have an option to modify your mortgage if you are behind and having difficulty in your payments. This is the loan type wherein the one who borrowed will use the equity in their homes as collateral. This will be sometimes a useful element to facilitate major repairs in the home, college education or medically related bills.
This type of loan generates a lien or a security interest against the house of the borrower and the actual home equity will be reduced. This is usually referred to as mortgages because the value of the property is secured against it; just the same as a traditional mortgage. Also, it can be possible to deduct one's income tax from the home equity loan.
The government is giving you options to avoid possible foreclosure in your costs; this is the home equity loan modification. First is to have your payment at your mortgage that is 31% more than your gross income which greatly includes your taxes, your insurances or homeowner dues that you might be paying. This will just show that you are really struggling with your payments. Second is when you use loan modification, this will make your mortgage be in much better shape than you can ever imagine.
It will provide you with payments than you can afford and will make sure that you will never lead into foreclosure which in turn, will get back your credits and save your home. And the last thing you would do is to go online and start consulting. You will just fill out some forms about yourself and your status. It includes information about your home equity loan modification and later on, they will call you and give details to help you in saving your home.
This type of loan generates a lien or a security interest against the house of the borrower and the actual home equity will be reduced. This is usually referred to as mortgages because the value of the property is secured against it; just the same as a traditional mortgage. Also, it can be possible to deduct one's income tax from the home equity loan.
The government is giving you options to avoid possible foreclosure in your costs; this is the home equity loan modification. First is to have your payment at your mortgage that is 31% more than your gross income which greatly includes your taxes, your insurances or homeowner dues that you might be paying. This will just show that you are really struggling with your payments. Second is when you use loan modification, this will make your mortgage be in much better shape than you can ever imagine.
It will provide you with payments than you can afford and will make sure that you will never lead into foreclosure which in turn, will get back your credits and save your home. And the last thing you would do is to go online and start consulting. You will just fill out some forms about yourself and your status. It includes information about your home equity loan modification and later on, they will call you and give details to help you in saving your home.
How to Get a Fast Home Equity Loan - A General Guide to Home Equity Loans
Home equity loans are loans given to homeowners keeping their home equity as collateral. Customers for this loan typically have large expenses at hand like investing in a second home or college education or home repairs. Customers, who are looking for lower interest rates, have bad credit histories and those who want substantial loan amounts go for home equity loans. Some interest payouts are also tax deductible, making it a more attractive option for people who pay large tax amounts. From the lenders' point of view, homes are solid collateral that will 'collect' even if the customer does not adhere to the loan repayment agreement.
Are you are a busy person who cannot spare time running around analyzing options before deciding on the best fit for you and are you are looking at fast home equity loans? In this 'connected' era of the Internet, this is indeed possible. There are steps to follow to get fast home equity loans. Check out quotes from sources like banks, loan consultants and credit unions. Ask friends and relatives who also have taken this type of loan. Compare the different quotes and options; then make your informed choice.
Acquire knowledge regarding the new offers being made by the various lending organizations. This knowledge about existing offers not only lets you choose the best lender but also allows you to negotiate a better deal from your side. You can conduct your analysis online without wasting time traveling from one lender to another or meeting a whole lot of people. If you want, you can use the online tools that are available in the lender websites, to aid your decision making process. There are also online loan consultants who provide free tips and advice. Make sure your credit status is in good order and your home documents are organized before applying for the loan.
Usually, the fast track home equity loan process works like this - There are loan applications that you can fill up online. Based on the analysis you have done regarding the loan type and repayment schedule fill in the forms (that will take less than 5 minutes to fill). Then a loan consultant will contact you with multiple interest rates and installment options. You can pick one and get the deal formalized. After this the loan amount will be released for your use.
There are some risks that you should keep in mind before going for a fast home equity loan. If by any chance, you are unable to meet the loan repayment schedule, it may mean losing your home. So, while working out the repayment options, ensure that it will not be an overload for you. To avail more protection, you might even want to take out liability insurance for the loan. There are a number of scam lender cases where the lenders cheat their customers out of their homes. Beware of lenders who seemingly agree to all your terms - decide on a lender whose credentials you can verify. When you are getting into a loan agreement, make sure that all the agreement details are in writing and that the deal is valid.
Are you are a busy person who cannot spare time running around analyzing options before deciding on the best fit for you and are you are looking at fast home equity loans? In this 'connected' era of the Internet, this is indeed possible. There are steps to follow to get fast home equity loans. Check out quotes from sources like banks, loan consultants and credit unions. Ask friends and relatives who also have taken this type of loan. Compare the different quotes and options; then make your informed choice.
Acquire knowledge regarding the new offers being made by the various lending organizations. This knowledge about existing offers not only lets you choose the best lender but also allows you to negotiate a better deal from your side. You can conduct your analysis online without wasting time traveling from one lender to another or meeting a whole lot of people. If you want, you can use the online tools that are available in the lender websites, to aid your decision making process. There are also online loan consultants who provide free tips and advice. Make sure your credit status is in good order and your home documents are organized before applying for the loan.
Usually, the fast track home equity loan process works like this - There are loan applications that you can fill up online. Based on the analysis you have done regarding the loan type and repayment schedule fill in the forms (that will take less than 5 minutes to fill). Then a loan consultant will contact you with multiple interest rates and installment options. You can pick one and get the deal formalized. After this the loan amount will be released for your use.
There are some risks that you should keep in mind before going for a fast home equity loan. If by any chance, you are unable to meet the loan repayment schedule, it may mean losing your home. So, while working out the repayment options, ensure that it will not be an overload for you. To avail more protection, you might even want to take out liability insurance for the loan. There are a number of scam lender cases where the lenders cheat their customers out of their homes. Beware of lenders who seemingly agree to all your terms - decide on a lender whose credentials you can verify. When you are getting into a loan agreement, make sure that all the agreement details are in writing and that the deal is valid.
Home Equity Loan - Procedure You Should Fulfill
If you think that your home loan that is existed is too high in the interest, it is better for you to consider about the loan which is equity. It means that you need to do the process of refinancing so you can get the best loan that has the lower rates so it can make it really beneficial for you. Talking about this kind of loan you must be sure that it must help you in doing the right thing for your needs so you can take the benefits from it.
Most people like to take this kind of loan because it is really helpful for paying all costly projects so you will get the best help for your home. Talking about this kind of loan, most people have more chances to get the best one if they have the records which states the good credit. In this case, you must be sure that you have the best record so you will not get any problems in getting the loan for your needs.
For the next thing, you need to stop shopping around for finding it because you must get the best quotes for doing the comparison. The comparison you will do will give the best information for you so you can choose the best one for your needs that is really functional for you because you just need to pay the lower rates. Also, you must consider about the system of the repayment plan and also the credit rating you have. In this case, if you choose the longer term, you will get the interest which is lower. But, you must keep in mind that the interest can increase any time in the future so you must be careful. The raising of interest you must pay is caused by the condition of market so you need to think about it before taking the best decision for your needs.
If you have a history of good credit, you must be sure that you are able to get the best deal which has the lowest interest rates. This condition will give the best help to you in getting the loan that is really functional to solve your finance problems so you can take benefits from it. Besides, you need to find the tax reduction for interest paid of your loan so you can get the best loan for your needs. Thus, you must be careful in getting the best one for your needs.
Most people like to take this kind of loan because it is really helpful for paying all costly projects so you will get the best help for your home. Talking about this kind of loan, most people have more chances to get the best one if they have the records which states the good credit. In this case, you must be sure that you have the best record so you will not get any problems in getting the loan for your needs.
For the next thing, you need to stop shopping around for finding it because you must get the best quotes for doing the comparison. The comparison you will do will give the best information for you so you can choose the best one for your needs that is really functional for you because you just need to pay the lower rates. Also, you must consider about the system of the repayment plan and also the credit rating you have. In this case, if you choose the longer term, you will get the interest which is lower. But, you must keep in mind that the interest can increase any time in the future so you must be careful. The raising of interest you must pay is caused by the condition of market so you need to think about it before taking the best decision for your needs.
If you have a history of good credit, you must be sure that you are able to get the best deal which has the lowest interest rates. This condition will give the best help to you in getting the loan that is really functional to solve your finance problems so you can take benefits from it. Besides, you need to find the tax reduction for interest paid of your loan so you can get the best loan for your needs. Thus, you must be careful in getting the best one for your needs.
Mobile Home Equity Loans - Can You Get a Home Equity Loan or Line of Credit on Your Mobile Home?
You may have heard that mobile homes depreciate over time. While this can be true, it is important to understand that some mobile homes actually increase in value. The key is to build your mobile home on a fixed foundation. Mobile homes on fixed foundations are homes that increase in value over time unlike mobile homes that are not on fixed foundations. If you own a mobile home placed on such a foundation, you will accumulate equity every time you make a payment on your mortgage. After several years of paying on your mortgage, you just may have amassed an impressive amount of equity.
Equity is often used as collateral for a loan. There are a multitude of reasons why people take out equity loans. If you need a loan for a big-ticket purchase such as a car or a college education, an equity loan is a good idea. Some people use equity loans to consolidate their bills and pay off debts. Still others use equity loans to make home improvements. No matter why you want or need an equity loan, it is likely you can get one if you have adequate capital accumulated in your fixed foundation mobile home.
The key is to find the right home equity lender. While you could check with the original lender who got you your mortgage, you may not want to do that. Your best bet would be to shop around with a variety of different companies to find the most attractive loan program. Websites such as Lending Tree make it easy to compare loans from different lenders. You simply submit one application and receive offers and quotes from multiple institutions. You might also want to call around to lenders found in your local Yellow Pages. There are even companies who specialize in home equity loans. These companies usually offer better rates than a traditional bank or credit union can offer. Comparison shopping can help you find the best home equity loan possible to meet your financial needs.
Equity is often used as collateral for a loan. There are a multitude of reasons why people take out equity loans. If you need a loan for a big-ticket purchase such as a car or a college education, an equity loan is a good idea. Some people use equity loans to consolidate their bills and pay off debts. Still others use equity loans to make home improvements. No matter why you want or need an equity loan, it is likely you can get one if you have adequate capital accumulated in your fixed foundation mobile home.
The key is to find the right home equity lender. While you could check with the original lender who got you your mortgage, you may not want to do that. Your best bet would be to shop around with a variety of different companies to find the most attractive loan program. Websites such as Lending Tree make it easy to compare loans from different lenders. You simply submit one application and receive offers and quotes from multiple institutions. You might also want to call around to lenders found in your local Yellow Pages. There are even companies who specialize in home equity loans. These companies usually offer better rates than a traditional bank or credit union can offer. Comparison shopping can help you find the best home equity loan possible to meet your financial needs.
Is a Home Equity Loan a Good Idea?
First, what is a home equity loan? Well a home-equity loan is a second lien against your home's equity.
I always consider my home equity as a safety net for those difficult times, such as, a job loss or family illness. My rule of thumb for debt management has always been centered on how much equity I had in my house. I would never have my debt exceed my equity.
Now let's get back to the question. Is a home equity loan a good idea? If you manage your money wisely home equity loans are a good idea but only if you spend the proceeds on items that are a necessity and carry a higher interest rate that the home equity loan. A good example would be home improvements or educational needs. These items usually are quite expensive and require long pay-off periods. By using your equity you will be able to write-off your purchase interest on your federal and state taxes. Another example would be to pay-off high interest credit card and personal loans debt but you must make sure that once the debt is paid you can not accumulate any more credit card debt or you will become financially strapped.
Below are some guidelines if you're thinking about borrowing against your home's value:
Don't waste the cash. Please be aware you're attaching a new lien on the home, moving closer to the risk of foreclosure. If you do not make your payments on time, the lender has the right to foreclose on your home.
Don't accumulate more debt than you can handle. As I mentioned earlier your total debt should not exceed your homes total equity.
Evaluate the tax benefits carefully. Review the IRS Publication 936 for details.
Avoid lines of credit unless you have the discipline to make the principal payment on time.
In conclusion:
It is important to carefully consider how you plan on using the equity in your home. If it is for home improvements, education like college or medical expenses then you are adding even more value to your home and personal growth and well being, which is good. If you are using it for daily spending, vacations, cars or other items that quickly depreciate in value, then you could be risking your nest egg and run the risk of owing money on your home far longer that the average 15-30 year mortgage.
I always consider my home equity as a safety net for those difficult times, such as, a job loss or family illness. My rule of thumb for debt management has always been centered on how much equity I had in my house. I would never have my debt exceed my equity.
Now let's get back to the question. Is a home equity loan a good idea? If you manage your money wisely home equity loans are a good idea but only if you spend the proceeds on items that are a necessity and carry a higher interest rate that the home equity loan. A good example would be home improvements or educational needs. These items usually are quite expensive and require long pay-off periods. By using your equity you will be able to write-off your purchase interest on your federal and state taxes. Another example would be to pay-off high interest credit card and personal loans debt but you must make sure that once the debt is paid you can not accumulate any more credit card debt or you will become financially strapped.
Below are some guidelines if you're thinking about borrowing against your home's value:
Don't waste the cash. Please be aware you're attaching a new lien on the home, moving closer to the risk of foreclosure. If you do not make your payments on time, the lender has the right to foreclose on your home.
Don't accumulate more debt than you can handle. As I mentioned earlier your total debt should not exceed your homes total equity.
Evaluate the tax benefits carefully. Review the IRS Publication 936 for details.
Avoid lines of credit unless you have the discipline to make the principal payment on time.
In conclusion:
It is important to carefully consider how you plan on using the equity in your home. If it is for home improvements, education like college or medical expenses then you are adding even more value to your home and personal growth and well being, which is good. If you are using it for daily spending, vacations, cars or other items that quickly depreciate in value, then you could be risking your nest egg and run the risk of owing money on your home far longer that the average 15-30 year mortgage.
Mobile Home Equity Loans
Mobile homes built on fixed foundations are appreciating properties - their values appreciate with the passage of time. Hence, after a few years of timely mortgage payments, the value of the mobile home will be much higher than what it was bought for. This difference is called mobile home equity. Equity on a mobile home is equal to the numerical difference between the appraisal value of the home and the value of the mortgage.
Equity is built up over a period of time, and it is the possession of the owner of the mobile home. Since equity is a financial asset, it can be used as collateral to take a further loan. Such loans are called mobile home equity loans. Mobile home equity loans could be up to 85% to 100% of the value of the built-up equity on the home, depending on the credit score of the borrower and policies of the lender.
The process of taking a mobile home equity loan is much simpler than taking a normal loan. This is because the mobile home itself will be kept as collateral, or to be more specific, the equity on the home will be the collateral. The lenders would first get the property appraised through their appraisal officer or any other licensed professional. Then the value of the mortgage taken earlier is verified, and the difference is calculated to provide the equity. Mobile home equity loans carry lower rates of interest and can be spread over longer periods than ordinary loans.
A mobile home equity loan can be described as a mortgage upon a mortgage. Equity loans become very useful if a person wishes to start a small business enterprise after buying a home. Usually the lenders would not ask any questions about the purpose of the equity loan - it can be used for anything from renovating the home to going on a cruise. Having said that, it is essential to remember that a home equity loan does increase the indebtedness of the person, and it is best to avoid them. No lender would provide a second equity loan, no matter how much equity is built up.
Equity is built up over a period of time, and it is the possession of the owner of the mobile home. Since equity is a financial asset, it can be used as collateral to take a further loan. Such loans are called mobile home equity loans. Mobile home equity loans could be up to 85% to 100% of the value of the built-up equity on the home, depending on the credit score of the borrower and policies of the lender.
The process of taking a mobile home equity loan is much simpler than taking a normal loan. This is because the mobile home itself will be kept as collateral, or to be more specific, the equity on the home will be the collateral. The lenders would first get the property appraised through their appraisal officer or any other licensed professional. Then the value of the mortgage taken earlier is verified, and the difference is calculated to provide the equity. Mobile home equity loans carry lower rates of interest and can be spread over longer periods than ordinary loans.
A mobile home equity loan can be described as a mortgage upon a mortgage. Equity loans become very useful if a person wishes to start a small business enterprise after buying a home. Usually the lenders would not ask any questions about the purpose of the equity loan - it can be used for anything from renovating the home to going on a cruise. Having said that, it is essential to remember that a home equity loan does increase the indebtedness of the person, and it is best to avoid them. No lender would provide a second equity loan, no matter how much equity is built up.
What is a Legal Hold?
A legal hold, also referred to as a hold, preservation order, suspension order, freeze notice, hold order, or hold notice, is a notice or communication issued to an organization to preserve all forms of relevant information, as a result of a reasonably anticipated investigations, audit, or lawsuit. A legal hold therefore suspends the normal disposition or processing of records.
The purpose of a legal hold is to prevent spoliation or the loss of information that maybe related or relevant to the anticipated legal proceeding.
Legal Hold and eDiscovery
With today's technology, organizations use digital data in day to day operations. Though this may seem to be an advantage in doing tasks and in increasing productivity, the reliance on using digital data has caused a rapid growth in electronically stored information (ESI). This has lead to recent amendments in the United States Federal Rules of Civil Procedure ordering the inclusion of digital data in a legal hold (eDiscovery). The information to be preserved during a legal hold therefore is not only limited to documents in paper form, but also to electronically stored information- from word documents, excel files, email exchanges to images, audio files, website logs, etc.
More and more businesses have started to pay attention to eDiscovery as litigations that required eDiscovery of files have cost industry giants millions of dollars in fines. In the famous Zubulake v. UBS Warburg case, Judge Scheindlin awarded a total of $29M to Laura Zubulake who accused her former employer UBS Warburg, one of the big names in financial firms, for gender discrimination and illegal retaliation. Despite court orders that were issued to preserve all relevant information, it was found out that the employer had willfully deleted relevant emails. The court has also noted that UBS Warburg's legal counsel was partly responsible for the document destruction because it had failed to locate, preserve, and to timely produce relevant information. Merck & Co., Inc, a pharmaceutical conglomerate, lost $253M in a lawsuit filed by the family of Robert Ernst, a marathon runner who's cause of death was associated with the long term effects of using Vioxx, a pain reliever manufactured by Merck. The plaintiff's legal counsel argued that Merck rushed Vioxx to market without proper safety testing to compete with Pfizer Inc.'s Celebrex, then played down potential heart risks. Discovered emails sent by Merck's chief scientist questioning the efficacy of Vioxx contributed to the outcome of the case. Morgan Stanley, another financial giant, was ordered to pay billionaire financier Ron Perelman more than $1.4B after losing to a case related to Perelman's 1998 sale of his Coleman camping gear company to Sunbeam. A big factor in the outcome of the case was the inability to produce requested information due to a badly performed eDiscovery.
The Legal Hold Process
A legal hold process is composed of three main requirements.
Hold notification. Once an organization learns that a pending or reasonably anticipated litigation exists, it are obliged to preserve all relevant information. An organization should notify employees of the need to preserve relevant information and should also have a written policy with regards to the legal hold process. Determining the relevance of information to be preserved partly lies with the ability of an organization's legal counsel and its existing document retention policies.
Segregated repository for ESI. Due to the significant risks associated with deleting, losing, or not having access to electronically stored information, a segregated repository should be utilized to handle ESI.
Ongoing preservation obligation. Once litigation notice is served, all future relevant electronic communication should also be preserved as a part of the legal hold.
Chapter 15 of Information Nation Warrior: Information Management Compliance Boot Camp (Randolph A. Kahn, ESQ and Barclay T. Blair) discusses what organizations should include in developing a Legal Hold process: A policy specifically for the legal department to provide a Legal Hold notice to the rest of the organizations' employees, an outline and updated training program for employee responsibilities and preservation procedures, a standardized method for providing the Legal Hold notice to employees, a statement from organization leader or training manuals that emphasizes the organization's commitment to records and information management compliance, and to make sure that employees are following these policies.
The purpose of a legal hold is to prevent spoliation or the loss of information that maybe related or relevant to the anticipated legal proceeding.
Legal Hold and eDiscovery
With today's technology, organizations use digital data in day to day operations. Though this may seem to be an advantage in doing tasks and in increasing productivity, the reliance on using digital data has caused a rapid growth in electronically stored information (ESI). This has lead to recent amendments in the United States Federal Rules of Civil Procedure ordering the inclusion of digital data in a legal hold (eDiscovery). The information to be preserved during a legal hold therefore is not only limited to documents in paper form, but also to electronically stored information- from word documents, excel files, email exchanges to images, audio files, website logs, etc.
More and more businesses have started to pay attention to eDiscovery as litigations that required eDiscovery of files have cost industry giants millions of dollars in fines. In the famous Zubulake v. UBS Warburg case, Judge Scheindlin awarded a total of $29M to Laura Zubulake who accused her former employer UBS Warburg, one of the big names in financial firms, for gender discrimination and illegal retaliation. Despite court orders that were issued to preserve all relevant information, it was found out that the employer had willfully deleted relevant emails. The court has also noted that UBS Warburg's legal counsel was partly responsible for the document destruction because it had failed to locate, preserve, and to timely produce relevant information. Merck & Co., Inc, a pharmaceutical conglomerate, lost $253M in a lawsuit filed by the family of Robert Ernst, a marathon runner who's cause of death was associated with the long term effects of using Vioxx, a pain reliever manufactured by Merck. The plaintiff's legal counsel argued that Merck rushed Vioxx to market without proper safety testing to compete with Pfizer Inc.'s Celebrex, then played down potential heart risks. Discovered emails sent by Merck's chief scientist questioning the efficacy of Vioxx contributed to the outcome of the case. Morgan Stanley, another financial giant, was ordered to pay billionaire financier Ron Perelman more than $1.4B after losing to a case related to Perelman's 1998 sale of his Coleman camping gear company to Sunbeam. A big factor in the outcome of the case was the inability to produce requested information due to a badly performed eDiscovery.
The Legal Hold Process
A legal hold process is composed of three main requirements.
Hold notification. Once an organization learns that a pending or reasonably anticipated litigation exists, it are obliged to preserve all relevant information. An organization should notify employees of the need to preserve relevant information and should also have a written policy with regards to the legal hold process. Determining the relevance of information to be preserved partly lies with the ability of an organization's legal counsel and its existing document retention policies.
Segregated repository for ESI. Due to the significant risks associated with deleting, losing, or not having access to electronically stored information, a segregated repository should be utilized to handle ESI.
Ongoing preservation obligation. Once litigation notice is served, all future relevant electronic communication should also be preserved as a part of the legal hold.
Chapter 15 of Information Nation Warrior: Information Management Compliance Boot Camp (Randolph A. Kahn, ESQ and Barclay T. Blair) discusses what organizations should include in developing a Legal Hold process: A policy specifically for the legal department to provide a Legal Hold notice to the rest of the organizations' employees, an outline and updated training program for employee responsibilities and preservation procedures, a standardized method for providing the Legal Hold notice to employees, a statement from organization leader or training manuals that emphasizes the organization's commitment to records and information management compliance, and to make sure that employees are following these policies.
Vioxx Lawyer says: There are Many Valid Vioxx Concerns
The FDA approved Vioxx in 1999. It was intended to reduce the pain and
inflammation caused by osteoarthritis as well as menstrual pains. Afterwards,
the FDA approved Vioxx for the treatment of rheumatoid arthritis. The drug,
which is a once-daily pill, was considered more effective than traditional pain
killers and to cause fewer gastrointestinal side effects.
What is Vioxx?
Vioxx is a COX-2 selective nonsteroidal anti-inflammatory drug (NSAID). Vioxx is also related to the nonselective NSAIDs , such as ibuprofen and naproxen. Vioxx is a prescription medicine used to relieve signs and symptoms of arthritis, acute pain in adults, and painful menstrual cycles.
Minor side effects with the use of Vioxx include upset stomach, dizziness,
heartburn, vomiting and constipation. In March, 2002 an FDA report linked Vioxx
to five cases of a nonbacterial type of meningitis. In May 2002, a report
published in the Journal of Bone and Mineral Research stated that it may also
impede bone repair due to the arthritis drug inhibiting cox-2 (which assists
bone-forming cells in the healing process.)
The makers of Vioxx launched a three year study to confirm the relative
gastrointestinal benefits of Vioxx when compared to another pain medicine,
naproxen. The study did show that patients who took Vioxx had fewer ulcers and
other stomach ailments, but the shock of the study proved to be the greater
tendency to experience serious cardiovascular events when taking Vioxx.
In September 2004, Merck & Co., Inc., announced a voluntary withdrawal of Vioxx
from the market due to safety concerns of an increased risk of cardiovascular
problems such as heart attack, stroke, and blood clot. The study found that both
high and low levels of the medication increase the risk, but patients taking the
highest doses increase their risk of heart attack more than three-fold.
In Vioxx and naproxen test groups with more than 4,000 patients in each, Vioxx
users suffered 101 "serious cardiovascular events" and 20 myocardial
infarctions. That compared to 46 naproxen users who had cardiovascular events
and only four who suffered heart attacks.
If you have concerns about the safety of Vioxx, or if you have experienced
serious side effects associated with the drug, consult your doctor. It may also
be important to contact an attorney who can help protect your legal rights.
Please keep in mind that there may be time limits within which you must commence
suit.
inflammation caused by osteoarthritis as well as menstrual pains. Afterwards,
the FDA approved Vioxx for the treatment of rheumatoid arthritis. The drug,
which is a once-daily pill, was considered more effective than traditional pain
killers and to cause fewer gastrointestinal side effects.
What is Vioxx?
Vioxx is a COX-2 selective nonsteroidal anti-inflammatory drug (NSAID). Vioxx is also related to the nonselective NSAIDs , such as ibuprofen and naproxen. Vioxx is a prescription medicine used to relieve signs and symptoms of arthritis, acute pain in adults, and painful menstrual cycles.
Minor side effects with the use of Vioxx include upset stomach, dizziness,
heartburn, vomiting and constipation. In March, 2002 an FDA report linked Vioxx
to five cases of a nonbacterial type of meningitis. In May 2002, a report
published in the Journal of Bone and Mineral Research stated that it may also
impede bone repair due to the arthritis drug inhibiting cox-2 (which assists
bone-forming cells in the healing process.)
The makers of Vioxx launched a three year study to confirm the relative
gastrointestinal benefits of Vioxx when compared to another pain medicine,
naproxen. The study did show that patients who took Vioxx had fewer ulcers and
other stomach ailments, but the shock of the study proved to be the greater
tendency to experience serious cardiovascular events when taking Vioxx.
In September 2004, Merck & Co., Inc., announced a voluntary withdrawal of Vioxx
from the market due to safety concerns of an increased risk of cardiovascular
problems such as heart attack, stroke, and blood clot. The study found that both
high and low levels of the medication increase the risk, but patients taking the
highest doses increase their risk of heart attack more than three-fold.
In Vioxx and naproxen test groups with more than 4,000 patients in each, Vioxx
users suffered 101 "serious cardiovascular events" and 20 myocardial
infarctions. That compared to 46 naproxen users who had cardiovascular events
and only four who suffered heart attacks.
If you have concerns about the safety of Vioxx, or if you have experienced
serious side effects associated with the drug, consult your doctor. It may also
be important to contact an attorney who can help protect your legal rights.
Please keep in mind that there may be time limits within which you must commence
suit.
Starting Your Career As a Vioxx Lawyer
In 1999, the Food and Drug Administration, as an anti-inflammatory drug, approved Vioxx. This is drug is also marketed with the names of Ceoxx and Ceeoxx.
The drug was prescribed to people suffering from arthritis and other conditions causing acute pain. Until 2004, millions of people took Vioxx treatment and then Merck, the company manufacturing and selling the drug, ceased its production because of its severe side effects. The serious most side effects of this drug include heart attack and stroke. Reports say that over 27,000 people suffered heart attack after getting Vioxx treatment.
The Vioxx lawyer is responsible for helping the patients of families of patients in getting a compensation for health damages caused by the drug treatment.
1. You need a bachelor's degree in order to get admission into a law school. No matter in what discipline you get your degree, the only thing matter is your GPA. You need to secure a good GPA, which means high grades in college are important.
2. He who wants to seek admission in a law school has to attain good score in their LSAT test. LSAT test is specially designed for the people who want to take admission in law schools. The test is based on multiple-choice sections along with on written section. These are to test the people's logical, problem solving and reasoning skills and also writing skills. It is better to prepare for the test by purchasing preparatory material and also you can take help from Internet. You can take this test more than once depending on the score you obtain. Your admission largely based on the scores of LSAT test.
3. Next step is also crucial. The selection of the law schools is based on many different factors. Whichever schools you choose to apply in, make certain that they are approved by American Bar Association (ABA). To raise your admission chances, it is better to apply in more than one school so that if your admission is rejected from one school, you still have a chance of getting admission in other.
4. A standard law study takes three years to complete. However, if you take the part-time path, it may take five years to complete the law school. During your school, you will learn about the basics of legal system and also study the courses that enhance your abilities and skills in your area of specialization.
5. To gain as much knowledge about the Vioxx, better read the medical studies and journals about Vioxx. Being a good Vioxx attorney, you need to have a clear understanding of both the legal and medical aspects of Vioxx cases.
6. After you got your Juris Doctor degree, start preparing for the bar exam. It is important to pass this exam otherwise you will not be able to obtain your license.
7. Once you have got your license, you are now ready to look for law firms dealing in Vioxx cases.
The drug was prescribed to people suffering from arthritis and other conditions causing acute pain. Until 2004, millions of people took Vioxx treatment and then Merck, the company manufacturing and selling the drug, ceased its production because of its severe side effects. The serious most side effects of this drug include heart attack and stroke. Reports say that over 27,000 people suffered heart attack after getting Vioxx treatment.
The Vioxx lawyer is responsible for helping the patients of families of patients in getting a compensation for health damages caused by the drug treatment.
1. You need a bachelor's degree in order to get admission into a law school. No matter in what discipline you get your degree, the only thing matter is your GPA. You need to secure a good GPA, which means high grades in college are important.
2. He who wants to seek admission in a law school has to attain good score in their LSAT test. LSAT test is specially designed for the people who want to take admission in law schools. The test is based on multiple-choice sections along with on written section. These are to test the people's logical, problem solving and reasoning skills and also writing skills. It is better to prepare for the test by purchasing preparatory material and also you can take help from Internet. You can take this test more than once depending on the score you obtain. Your admission largely based on the scores of LSAT test.
3. Next step is also crucial. The selection of the law schools is based on many different factors. Whichever schools you choose to apply in, make certain that they are approved by American Bar Association (ABA). To raise your admission chances, it is better to apply in more than one school so that if your admission is rejected from one school, you still have a chance of getting admission in other.
4. A standard law study takes three years to complete. However, if you take the part-time path, it may take five years to complete the law school. During your school, you will learn about the basics of legal system and also study the courses that enhance your abilities and skills in your area of specialization.
5. To gain as much knowledge about the Vioxx, better read the medical studies and journals about Vioxx. Being a good Vioxx attorney, you need to have a clear understanding of both the legal and medical aspects of Vioxx cases.
6. After you got your Juris Doctor degree, start preparing for the bar exam. It is important to pass this exam otherwise you will not be able to obtain your license.
7. Once you have got your license, you are now ready to look for law firms dealing in Vioxx cases.
Lawsuit Cases That Qualify For Pre Settlement Loans
When it comes to the different types of lawsuit cases it can be mind boggling. There are over fifty different types of civil court cases; thousands if you branch them off into their own specific field. Many plaintiffs in the middle of a lawsuit seek pre settlement loans as a source of cash during their pending lawsuit. They may use this cash to pay bills or even to fund their lawsuit case. Regardless of the reason a plaintiff should know what cases lawsuit settlement loan providers accept. In theory with so many different lawsuit loan providers in the industry one will at least fund your particular type of case. However, there is a general set of cases that they all will fund. Below is a quick list of the different cases that the majority of the providers will give loans for.
Asbestos
Auto Accident
Aviation
Breach of Contract
Civil Rights
Class Action
Commercial Litigation
Construction Negligence
Copyright (and other intellectual property) Litigation
Divorce Funding
Employment Discrimination
Environmental Litigation
FELA (Railroad)
Fraud
General Negligence
Inheritance Funding
Jones Act
Legal Malpractice
Litigation Funding
Mass Tort
Medical Expenses Funding
Medical Malpractice
Mesothelioma
Motor Vehicle and Passenger Injury
Nursing Home Malpractice
Patent Law
Pedestrian Injury
Personal Injury
Pharmaceutical Litigation
Plane Crash
Premises Negligence (slip & fall)
Primary Pulmonary Hypertension (PPH)
Product Liability
Securities Fraud
Settlements
Sexual Harassment
Slip-and-Fall
Structured Settlements
Surgical Expenses Funding
Trucking
Vioxx
Whistle blower
Workers Compensation
Wrongful Death
Wrongful Termination
Zyprexa
As you can see, the list of cases lawsuit loan providers will fund the plaintiffs for is staggering, and this isn't even a complete list. This just provides you with the basic civil court cases a settlement loan provider may or may not provide plaintiffs with loans for. Regardless of what type of lawsuit case you're currently involved in you should research the providers list of acceptable cases "before" applying for a lawsuit loan. This will save time and effort while trying to get access to the cash you need. If you want to learn more about the different type of lawsuit cases accept or want to apply for a lawsuit settlement loan then continue below.
Asbestos
Auto Accident
Aviation
Breach of Contract
Civil Rights
Class Action
Commercial Litigation
Construction Negligence
Copyright (and other intellectual property) Litigation
Divorce Funding
Employment Discrimination
Environmental Litigation
FELA (Railroad)
Fraud
General Negligence
Inheritance Funding
Jones Act
Legal Malpractice
Litigation Funding
Mass Tort
Medical Expenses Funding
Medical Malpractice
Mesothelioma
Motor Vehicle and Passenger Injury
Nursing Home Malpractice
Patent Law
Pedestrian Injury
Personal Injury
Pharmaceutical Litigation
Plane Crash
Premises Negligence (slip & fall)
Primary Pulmonary Hypertension (PPH)
Product Liability
Securities Fraud
Settlements
Sexual Harassment
Slip-and-Fall
Structured Settlements
Surgical Expenses Funding
Trucking
Vioxx
Whistle blower
Workers Compensation
Wrongful Death
Wrongful Termination
Zyprexa
As you can see, the list of cases lawsuit loan providers will fund the plaintiffs for is staggering, and this isn't even a complete list. This just provides you with the basic civil court cases a settlement loan provider may or may not provide plaintiffs with loans for. Regardless of what type of lawsuit case you're currently involved in you should research the providers list of acceptable cases "before" applying for a lawsuit loan. This will save time and effort while trying to get access to the cash you need. If you want to learn more about the different type of lawsuit cases accept or want to apply for a lawsuit settlement loan then continue below.
Lawsuit Legal Finance! How Does It Work?
A relatively new source of financing is now available for both individuals and business owners. It is called Lawsuit funding or often referred as Lawsuit Loan, Legal Finance, Pre-settlement financing, Ligitation financing, Lawsuit cash advance, or Injury settlement funding, but these are not loans because the money does not have to be paid back unless the case is won or settled. These are Non-Recourse Cash Advances. It carries No Risk because Plaintiffs owe Nothing if they lose the case. The client must be represented by an Attorney, and need money prior to settlement due to financial hardship.
Lawsuit loan or Legal finance can provide a very timely financial solution to help plaintiffs who are having financial difficulties. Usually the Plaintiff's financial hardship is the result of being injured and not being able to work.
Mostly plaintiffs have missed work or lost their job and can no longer meet their mortgage/ rent or car payments. Many of them may be one or two payments away from Foreclosures. They may be in need of Medical treatments. They need to pay Children's education expenses.
But now these new Lawsuit loans are great help to plaintiffs. In the past, these claimants have needed to accept lesser settlement amounts due to pressing financial difficulties. Now, clients can sustain their personal lives and give the attorney the necessary time to achieve the full value of the case.
The process to receive Lawsuit loan is Risk Free & simple. There is no Application or upfront fees. Approval is fast. Plaintiff may have a bad or no credit. There are no monthly payments. They pay back only when they win or settle the case. They owe nothing if they lose the case. They can use the Cash Advance in any way they like
Legal finance is available for:
* Personal Injury, Automobile Accidents, Pedestrian injury any Type
* Pharmaceutical Litigation like Zyprexa, Vioxx, and Fen-phen etc.
* Asbestos / Mesothelioma lawsuit
* Passenger Injuries, Boating Accidents
* Tobacco/Smoking
* Slip & Fall Cases, Burn Injuries
* Nursing Home Abuses
* Breach of Contract
* Class Action/Product Liability
* Construction & Gen. Negligence (Animal bite, Homeowner etc.)
* Employment Discrimination
* Judgments, Verdicts, Appeals
* Malpractice: Medical-Legal, Accounting, Construction etc.
* Harassment: Sexual/Rape, Any Type
* Product Liability
* Wrongful Termination
* Wrongful Death
AND MANY MORE.....
A lot of people & businesses are being forced to settle early for way less than they deserve because they simply can't afford to wait any longer. There is no reason for them to settle for less than their case is worth.
Lawsuit loan or Legal finance can provide a very timely financial solution to help plaintiffs who are having financial difficulties. Usually the Plaintiff's financial hardship is the result of being injured and not being able to work.
Mostly plaintiffs have missed work or lost their job and can no longer meet their mortgage/ rent or car payments. Many of them may be one or two payments away from Foreclosures. They may be in need of Medical treatments. They need to pay Children's education expenses.
But now these new Lawsuit loans are great help to plaintiffs. In the past, these claimants have needed to accept lesser settlement amounts due to pressing financial difficulties. Now, clients can sustain their personal lives and give the attorney the necessary time to achieve the full value of the case.
The process to receive Lawsuit loan is Risk Free & simple. There is no Application or upfront fees. Approval is fast. Plaintiff may have a bad or no credit. There are no monthly payments. They pay back only when they win or settle the case. They owe nothing if they lose the case. They can use the Cash Advance in any way they like
Legal finance is available for:
* Personal Injury, Automobile Accidents, Pedestrian injury any Type
* Pharmaceutical Litigation like Zyprexa, Vioxx, and Fen-phen etc.
* Asbestos / Mesothelioma lawsuit
* Passenger Injuries, Boating Accidents
* Tobacco/Smoking
* Slip & Fall Cases, Burn Injuries
* Nursing Home Abuses
* Breach of Contract
* Class Action/Product Liability
* Construction & Gen. Negligence (Animal bite, Homeowner etc.)
* Employment Discrimination
* Judgments, Verdicts, Appeals
* Malpractice: Medical-Legal, Accounting, Construction etc.
* Harassment: Sexual/Rape, Any Type
* Product Liability
* Wrongful Termination
* Wrongful Death
AND MANY MORE.....
A lot of people & businesses are being forced to settle early for way less than they deserve because they simply can't afford to wait any longer. There is no reason for them to settle for less than their case is worth.
Three Situations in Which You Should File a Wrongful Death Suit
The death of a loved one is often an unexpected, tragic event. This occurrence is made even more painful when the death is a result of somebody else's negligence or willful misconduct that could have been prevented. After you have recovered from the initial shock, you should consider the circumstances surrounding your loved one's death. If you suspect that a person or an organization might be liable for your loss, you should talk with an experienced wrongful death attorney.
The attorney will listen to you as you explain the situation, evaluate your legal options, and recommend the most appropriate course of action. In some situations, it might be in your best interests to file a wrongful death lawsuit. The following is a list of three situations in which lawyers often recommend filing a wrongful death lawsuit.
1. Your loved one was killed by a defective drug. The manufacturers and distributors of drugs and medical devices have a duty to offer reasonably safe products to the public. If they fail to fully research the medication before introducing it to the market, conceal significant side effects or fail to remove the product when they learn about side effects, they might be liable for the consequences. This means that the pharmaceutical companies might have to provide adequate compensation for internal and external injuries, emotional distress, lost income and wrongful death of individuals who took the tainted drugs. Many defective drugs deaths in recent years have been attributed to aggressively marketed medications such as Vioxx, Bextra, Avandia, Hydroxycut and Fen-Phen.
2. Your loved one died of mesothelioma. Until Congress outlawed asbestos several decades ago, it was used widely in construction, insulation and military applications. As a result, millions of unsuspecting victims were exposed to the substance. Alarmingly, asbestos exposure has been linked to the onset of asbestosis and mesothelioma-two serious diseases. If your loved one died due to mesothelioma, you should talk with a wrongful death lawyer. Often, the link between asbestos exposure and your loved one's illness might be obscure due the passage of 50 or 60 years between exposure and the onset of symptoms. A resourceful attorney can help you investigate the possible asbestos exposure and recover just compensation for you emotional suffering, lost companionship and diminution in lifestyle.
3. Your loved one was killed in a car crash. Motor vehicle accidents happen every day. While some of them are purely accidental occurrences, others are caused by somebody's negligence or willful wrongdoing. For instance, drivers operating their vehicles while under the influence of alcohol or drugs (DUI) might be held responsible for the injuries and deaths resulting from their actions. In addition to the fault of drunk drivers, some accidents are caused by faulty vehicle design or manufacturing flaws. Some notorious examples include sudden acceleration due to mechanical failures in Toyota vehicles and propensity toward rollovers in many SUVs. If your loved one's death was caused by a defective vehicle, your attorney might recommend filing a defective products death lawsuit to recover rightful remuneration.
The attorney will listen to you as you explain the situation, evaluate your legal options, and recommend the most appropriate course of action. In some situations, it might be in your best interests to file a wrongful death lawsuit. The following is a list of three situations in which lawyers often recommend filing a wrongful death lawsuit.
1. Your loved one was killed by a defective drug. The manufacturers and distributors of drugs and medical devices have a duty to offer reasonably safe products to the public. If they fail to fully research the medication before introducing it to the market, conceal significant side effects or fail to remove the product when they learn about side effects, they might be liable for the consequences. This means that the pharmaceutical companies might have to provide adequate compensation for internal and external injuries, emotional distress, lost income and wrongful death of individuals who took the tainted drugs. Many defective drugs deaths in recent years have been attributed to aggressively marketed medications such as Vioxx, Bextra, Avandia, Hydroxycut and Fen-Phen.
2. Your loved one died of mesothelioma. Until Congress outlawed asbestos several decades ago, it was used widely in construction, insulation and military applications. As a result, millions of unsuspecting victims were exposed to the substance. Alarmingly, asbestos exposure has been linked to the onset of asbestosis and mesothelioma-two serious diseases. If your loved one died due to mesothelioma, you should talk with a wrongful death lawyer. Often, the link between asbestos exposure and your loved one's illness might be obscure due the passage of 50 or 60 years between exposure and the onset of symptoms. A resourceful attorney can help you investigate the possible asbestos exposure and recover just compensation for you emotional suffering, lost companionship and diminution in lifestyle.
3. Your loved one was killed in a car crash. Motor vehicle accidents happen every day. While some of them are purely accidental occurrences, others are caused by somebody's negligence or willful wrongdoing. For instance, drivers operating their vehicles while under the influence of alcohol or drugs (DUI) might be held responsible for the injuries and deaths resulting from their actions. In addition to the fault of drunk drivers, some accidents are caused by faulty vehicle design or manufacturing flaws. Some notorious examples include sudden acceleration due to mechanical failures in Toyota vehicles and propensity toward rollovers in many SUVs. If your loved one's death was caused by a defective vehicle, your attorney might recommend filing a defective products death lawsuit to recover rightful remuneration.
The New Drug Recall Lawyers
Given the monstrous size and profitability of drug companies, some plaintiff lawyers are considering focusing more of their practice on drug litigation. In fact, shortly after Merck's announcement of the Vioxx recall, some large plaintiff firms started aggressive media campaigns aimed at bringing in prescription drug injury victims. The media blitz has been non stop. Billboards, TV, web marketing, radio, and direct mail are just some of the marketing vehicles that attorneys have used to try and find new cases for them to work on. Many plaintiff law firms are no longer focusing on chasing run of the mill car accidents. Some of them have gone so far as to reposition themselves as "drug recall lawyers," seeing that the future of their practice may be shaped by the initial outcome of these new pharmaceutical cases.
When Merck chose to withdraw Vioxx, the CEO stated that a voluntary recall was the responsible course of action. Prior to pulling Vioxx from the market, Merck was spending $500 Million per year on advertising Vioxx. Vioxx is classified as a non-steroidal anti-inflammatory drug, or NSAID. However, Vioxx belongs to a new family of NSAIDs called "COX-2 inhibitors." There are not many COX-2 inhibitors on the market in the US: Bextra and Celebrex may be the only other two.
Both the number of potential Vioxx plaintiffs and award amounts of the lawsuits are projected to be extremely large. The investment bank S.G. Cowan recently estimated that eventually more than 600,000 plaintiffs could file suit in the Vioxx case. Furthermore, some investment banks think that plaintiffs may file for more than $10Billion in damages in years to come. Even the national TV networks have covered the Vioxx withdrawal. A November 2004 story on the Vioxx withdrawal appeared on CBS News' 60 Minutes. The CBS story implied that the US Justice Department is conducting an investigation and the Securities and Exchange Commission is looking into Merck's conduct. Given the media coverage of the Vioxx withdrawal and the number of people who were prescribed Vioxx, there may be many new "Drug Recall Firms" founded in years to come.
When Merck chose to withdraw Vioxx, the CEO stated that a voluntary recall was the responsible course of action. Prior to pulling Vioxx from the market, Merck was spending $500 Million per year on advertising Vioxx. Vioxx is classified as a non-steroidal anti-inflammatory drug, or NSAID. However, Vioxx belongs to a new family of NSAIDs called "COX-2 inhibitors." There are not many COX-2 inhibitors on the market in the US: Bextra and Celebrex may be the only other two.
Both the number of potential Vioxx plaintiffs and award amounts of the lawsuits are projected to be extremely large. The investment bank S.G. Cowan recently estimated that eventually more than 600,000 plaintiffs could file suit in the Vioxx case. Furthermore, some investment banks think that plaintiffs may file for more than $10Billion in damages in years to come. Even the national TV networks have covered the Vioxx withdrawal. A November 2004 story on the Vioxx withdrawal appeared on CBS News' 60 Minutes. The CBS story implied that the US Justice Department is conducting an investigation and the Securities and Exchange Commission is looking into Merck's conduct. Given the media coverage of the Vioxx withdrawal and the number of people who were prescribed Vioxx, there may be many new "Drug Recall Firms" founded in years to come.
Malpractice - Filing A Lawsuit
In this article we're going to go over filing a malpractice lawsuit, who can file, how to file and what is involved in proving malpractice.
Like it or not, malpractice lawsuits are a fact of life. The statistics of how many malpractice lawsuits that are filed each year in the United States alone is staggering. But the statistics are for another article.
So what does someone do if they feel they are the victim of malpractice?
For starters, they'd better file their claim early. That means getting a lawyer who specializes in malpractice and have him process the necessary paperwork. There is a statute of limitations on malpractice suits and filing even one day past the deadline can mean your suit never even makes it into court.
When getting together with your lawyer there is an enormous amount of information that you will need to provide him with. Most of it, if this is a medical malpractice lawsuit, can be obtained from your patient files. If the patient has died because of the malpractice then the family member responsible will be able to get access to the files.
Aside from the information in the files there is other information that the lawyer should be provided with. Any actions the patient took prior to the actual treatment should be noted. Sometimes it's what's not in the file that can mean the difference between winning a losing a case. For example, if the patient tried to get certain tests done but for some reason they kept getting put off, not because of the patient, this information may not be in the file. A call to a doctor's office to make an appointment for tests that had to be put on hold won't necessarily be in the file. Anything the patient or patient's family can remember about all events leading up to treatment may be helpful.
Then, after the lawsuit is filed there is the matter of getting a hold of witnesses. These are people who are going to testify, hopefully on your behalf. The defense, of course will get their own witnesses to refute whatever claims are made.
Eventually, a court date is set for trial. The main duty of the prosecution is to prove that a case of malpractice exists. The duty of the defense, in the case of medical malpractice, is to show that a "standard of care" was given and that whatever happened was something that was out of their control.
Needless to say, this is a very long and expensive process. Some malpractice suits can take years to settle. Think about the current Vioxx problem. This is a suit that can go on for a very long time. That's why in the cases of many malpractice lawsuits the two parties try to agree on a settlement to keep the case from going to trial. Sometimes they are able to come to an agreement but many times they are not.
Ultimately, the jury must decide if a case of malpractice exists and if so, what kind of damages the patient is entitled to. Sometimes this is actually the hardest part of the decision making process. Whatever money the plaintiff gets usually goes to cover medical, or unfortunately, sometimes funeral costs.
Like it or not, malpractice lawsuits are a fact of life. The statistics of how many malpractice lawsuits that are filed each year in the United States alone is staggering. But the statistics are for another article.
So what does someone do if they feel they are the victim of malpractice?
For starters, they'd better file their claim early. That means getting a lawyer who specializes in malpractice and have him process the necessary paperwork. There is a statute of limitations on malpractice suits and filing even one day past the deadline can mean your suit never even makes it into court.
When getting together with your lawyer there is an enormous amount of information that you will need to provide him with. Most of it, if this is a medical malpractice lawsuit, can be obtained from your patient files. If the patient has died because of the malpractice then the family member responsible will be able to get access to the files.
Aside from the information in the files there is other information that the lawyer should be provided with. Any actions the patient took prior to the actual treatment should be noted. Sometimes it's what's not in the file that can mean the difference between winning a losing a case. For example, if the patient tried to get certain tests done but for some reason they kept getting put off, not because of the patient, this information may not be in the file. A call to a doctor's office to make an appointment for tests that had to be put on hold won't necessarily be in the file. Anything the patient or patient's family can remember about all events leading up to treatment may be helpful.
Then, after the lawsuit is filed there is the matter of getting a hold of witnesses. These are people who are going to testify, hopefully on your behalf. The defense, of course will get their own witnesses to refute whatever claims are made.
Eventually, a court date is set for trial. The main duty of the prosecution is to prove that a case of malpractice exists. The duty of the defense, in the case of medical malpractice, is to show that a "standard of care" was given and that whatever happened was something that was out of their control.
Needless to say, this is a very long and expensive process. Some malpractice suits can take years to settle. Think about the current Vioxx problem. This is a suit that can go on for a very long time. That's why in the cases of many malpractice lawsuits the two parties try to agree on a settlement to keep the case from going to trial. Sometimes they are able to come to an agreement but many times they are not.
Ultimately, the jury must decide if a case of malpractice exists and if so, what kind of damages the patient is entitled to. Sometimes this is actually the hardest part of the decision making process. Whatever money the plaintiff gets usually goes to cover medical, or unfortunately, sometimes funeral costs.
Who Is Evaluating My Lawsuit Cash Advance Funding?
The answer to the above lawsuit funding question comes up a great deal in day to day business in the litigation financing industry. More goes into underwriting a lawsuit loan or cash advance than most people realize. Analyzing case specific fact patterns, applicable laws, insurance issues, complex damages, and a host of other legal dynamics is the job of the lawsuit funding underwriter. Most professionals in this arena are usually derived from a few occupations. Below we discuss some of the most common.
Attorneys/Legal Professionals
By far the most common underwriters have a background in the legal profession. These individuals are usually in the best position to analyze the potential pitfalls in a case and thus the likelihood of success. Attorneys, and sometimes even paralegals bring their familiarity with the legal process to the pre-settlement loan underwriting process. This familiarity helps with client relations and also assists in having intelligent dialogue with those legal professionals handling the cases.
Insurance Adjusters
Individuals who have worked as property and casualty insurance adjusters also possess valuable experience applicable to the lawsuit funding underwriting process. Not only can these professionals assess the merits of the case, but they are also intimately aware of case valuations.
A case's expected value is often subjective. Many factors however, routinely go into the calculation. Pain and suffering, loss of earning capacity, lost wages and loss of consortium are simply a few examples of compensable damages. When considering these issues, former insurance adjusters use the expertise they obtained through their working in the claims management field.
Factors such as the insurance carrier, personal relationships with adjusters, jurisdiction, venue and a host of others, often lead to an accurate assessment of a lawsuit's settlement value. This "best guess" is very valuable to those lawsuit funding companies who advance cash now for pre-settlement loans.
Risk Management Specialists
Risk management is a large part of lawsuit funding. Although not involved with the analysis of any particular case, lawsuit loan companies who employ risk managers do so to better diversify the investment portfolio.
By way of example, an analysis of the existing portfolio might cause the risk manager to conclude that the lawsuit funding company is holding too large an amount of Vioxx lawsuit advances in relation to the entire portfolio. The manager might then recommend a slow down in the acceptance of these cases for funding or even a temporary shut down until the ratio returns to an acceptable range.
Further, risk managers make sure that the exposure to any one case would not be catastrophic to an entire portfolio. For example, if there is a $40 million portfolio, the risk manager may suggest that no more than $400,000 be advanced on any one case. Because any lawsuit funding loss is a total loss, losing a $4 million dollar funding for example, would be a 10% loss of total capital and would undoubtedly be catastrophic to the fund.
It is important to understand that all lawsuit cash advance funding or pre-settlement loan underwriting contain the above functions is some shape or form. Whether the funder has a $4 million dollar portfolio or $400 million, the above disciplines are a mandatory prerequisite for a profitable lawsuit funding enterprise.
Above we outlined a few of the most common professional backgrounds often employed by litigation loan companies. Of course, there are exceptions as the most important quality in any employee is integrity, regardless of previous experience.
Thank you for your interest in the lawsuit cash advance business.
Attorneys/Legal Professionals
By far the most common underwriters have a background in the legal profession. These individuals are usually in the best position to analyze the potential pitfalls in a case and thus the likelihood of success. Attorneys, and sometimes even paralegals bring their familiarity with the legal process to the pre-settlement loan underwriting process. This familiarity helps with client relations and also assists in having intelligent dialogue with those legal professionals handling the cases.
Insurance Adjusters
Individuals who have worked as property and casualty insurance adjusters also possess valuable experience applicable to the lawsuit funding underwriting process. Not only can these professionals assess the merits of the case, but they are also intimately aware of case valuations.
A case's expected value is often subjective. Many factors however, routinely go into the calculation. Pain and suffering, loss of earning capacity, lost wages and loss of consortium are simply a few examples of compensable damages. When considering these issues, former insurance adjusters use the expertise they obtained through their working in the claims management field.
Factors such as the insurance carrier, personal relationships with adjusters, jurisdiction, venue and a host of others, often lead to an accurate assessment of a lawsuit's settlement value. This "best guess" is very valuable to those lawsuit funding companies who advance cash now for pre-settlement loans.
Risk Management Specialists
Risk management is a large part of lawsuit funding. Although not involved with the analysis of any particular case, lawsuit loan companies who employ risk managers do so to better diversify the investment portfolio.
By way of example, an analysis of the existing portfolio might cause the risk manager to conclude that the lawsuit funding company is holding too large an amount of Vioxx lawsuit advances in relation to the entire portfolio. The manager might then recommend a slow down in the acceptance of these cases for funding or even a temporary shut down until the ratio returns to an acceptable range.
Further, risk managers make sure that the exposure to any one case would not be catastrophic to an entire portfolio. For example, if there is a $40 million portfolio, the risk manager may suggest that no more than $400,000 be advanced on any one case. Because any lawsuit funding loss is a total loss, losing a $4 million dollar funding for example, would be a 10% loss of total capital and would undoubtedly be catastrophic to the fund.
It is important to understand that all lawsuit cash advance funding or pre-settlement loan underwriting contain the above functions is some shape or form. Whether the funder has a $4 million dollar portfolio or $400 million, the above disciplines are a mandatory prerequisite for a profitable lawsuit funding enterprise.
Above we outlined a few of the most common professional backgrounds often employed by litigation loan companies. Of course, there are exceptions as the most important quality in any employee is integrity, regardless of previous experience.
Thank you for your interest in the lawsuit cash advance business.
Vioxx Withdrawl and Drug litigation
On Sept. 30, 2004 Merck announced a worldwide withdrawal of Vioxx® (rofecoxib). Vioxx had previously been prescribed in the treatment of arthritis and pain. Worldwide sales of Vioxx in 2003 were an estimated $2.5Billion and the drug was marketed in more than 80 countries around the world. This is one of several recent pharmaceutical products to have been put in the spotlight by both the national media and plaintiff lawyers.
Since sometime in the mid to late 90s a substantial number of pharmaceutical medications and medical devices have been removed from the market due to possible adverse health implications. The FDA acts as a regulatory body in approving health related products before they are marketed to consumers. The FDA moved to ban Ephedra in the US in 2004. However, the recent headlines about voluntary drug withdrawals have produced questions as to the FDA's recent performance.
Many people believe that the FDA did not test the drugs rigorously enough to determine all the possible health problems that they might cause. People believe that the rise in litigation over these medications was due to the fact that the FDA now allows pharmaceutical companies to “fast track” their products and get them through the process in a year. In fact, Vioxx was only released in 1999.
Some of the latest drugs where concerns have also arose are Bextra, Celebrex and Zyprexa. Litigation over these drugs may commence in the near future. US plaintiff lawyers have begun to put some serious time and research into possible claims that may arise from pharmaceutical drugs. Plaintiff lawyers also handle Mesothelioma, Car Accident, and a wide variety of different personal injury cases.
If you think that you may have been injured by one of these drugs that have recently made headlines, you may consider consulting with a lawyer. Many plaintiff attorneys handle cases on a contingency basis.
Since sometime in the mid to late 90s a substantial number of pharmaceutical medications and medical devices have been removed from the market due to possible adverse health implications. The FDA acts as a regulatory body in approving health related products before they are marketed to consumers. The FDA moved to ban Ephedra in the US in 2004. However, the recent headlines about voluntary drug withdrawals have produced questions as to the FDA's recent performance.
Many people believe that the FDA did not test the drugs rigorously enough to determine all the possible health problems that they might cause. People believe that the rise in litigation over these medications was due to the fact that the FDA now allows pharmaceutical companies to “fast track” their products and get them through the process in a year. In fact, Vioxx was only released in 1999.
Some of the latest drugs where concerns have also arose are Bextra, Celebrex and Zyprexa. Litigation over these drugs may commence in the near future. US plaintiff lawyers have begun to put some serious time and research into possible claims that may arise from pharmaceutical drugs. Plaintiff lawyers also handle Mesothelioma, Car Accident, and a wide variety of different personal injury cases.
If you think that you may have been injured by one of these drugs that have recently made headlines, you may consider consulting with a lawyer. Many plaintiff attorneys handle cases on a contingency basis.