PHILADELPHIA, July 9, 2014 /PRNewswire/ -- Legal-Bay LLC, the Lawsuit Settlement Funding Company, announced today that many of their prospective clients have expressed continued concern over the recent changes to the NFL Concussion Settlement. The NFL agreed last week to remove the settlement cap to over $1Bil -as Legal-Bay had predicted- but early reports are that compensatory damages remain unchanged at $675MM. With close to 4,500 filed retired NFL players in the suit, the average NFL concussion settlement amount would be approximately $150,000.00 per case; however the ranges of payments and injuries will be vastly different.
Legal-Bay's contacts close to the litigation have indicated that the same cash payout structure will be implemented as the old deal; however the NFL has agreed to implement a "no cap" injury fund that will last for 65 years. The deal is expected to be approved by federal Judge Anita Brody of the Eastern District of Pennsylvania, since her biggest issue in denying the last settlement was to ensure that the settlement left ample funds to assist with long term injuries.
Chris Janish, CEO of Legal-Bay commented on the recent news, "Unfortunately, many of our NFL player contacts are still very skeptical on this process and what their cash payments will be. The settlement is very complex and will be very time consuming to unwind, especially since the NFL now has an unlimited ability to appeal any cases. The jury is still out if this is a fair settlement until we see how the NFL reacts to each specific injury. However in light of all the factors we do believe that the plaintiff's attorneys acted in the best timely manner possible in securing a settlement for the most needy of concussion victims."
Legal-Bay is one of the only legal funding companies who have begun accepting applications for NFL Concussion Lawsuit Funding for funding amounts between $1,000.00 and $100,000.00. To learn more about Legal-Bay Lawsuit Settlement Funding, log onto the company's website at: http://www.lawsuitssettlementfunding.com
The LA Times reports the expected grid for high end payments are as follows, "as much as $5 million for players suffering from amyotrophic lateral sclerosis (ALS), or Lou Gehrig's disease; as much as $4 million to the families of brain-damaged athletes who committed suicide (such as Junior Seau, Dave Duerson, Andre Waters, and Ray Easterling); up to $3 million for cases of dementia; and lesser amounts for other ailments. Players with milder forms of dementia may receive treatment but not payouts," according to the LA Times.
All other less severe injuries will be presumed to be evaluated on a case-by-case basis, which will open settlement ranges to be varying degrees and challenged by the NFL via appeal. "When dealing with head injuries, the injuries can be very subjective; and if the NFL takes the approach that B.P. has taken in the Gulf Oil Spill then the flow of funds could take years for some victims," added Mr. Janish. NFL players who have played for five (5) years or more in the league will be at the highest end of the payment range and receive priority in the settlement and appeal process, says Legal-Bay.
All of Legal-Bay's NFL Concussion cash advance programs are non-recourse lawsuit cash advances, also known as case funding. None of the programs should be considered to be a lawsuit loan, lawsuit loans, pre-settlement loans or a pre-settlement loan.
To learn more about how Legal Bay's funding process works on settlements visit: http://lawsuitssettlementfunding.com/funding-process.php
If you or a loved one is involved in the NFL Concussion Lawsuit and your family is in need of lawsuit settlement funding now, you can apply today for a free case evaluation for up to $100,000.00 with Legal-Bay by calling the company's toll free hotline at: 877.571.0405. The company also takes pre-applications online at: http://lawsuitssettlementfunding.com where a live agent will review your information and call you promptly.
Contact: Patty Kirby, COO/Head of Client Relations
Ph. 877.571.0405 Email: email@example.com
SOURCE Legal-Bay LLC