CALIFORNIA WORKER COMPENSATION
ADVANCES
Global
Financial offers cash advancements to injured workers in California who have a
valid worker compensation claim and who are awaiting their final settlement
amount. We advance a portion of the money that we expect the worker to receive
after attorney's fees and statutory liens are deducted. The worker and his/her
lawyer must fully execute a Green Lien to secure our financial repayment upon
the lump settlement in the claim.
Global charges a flat fee on California Worker Compensation advances and the
fees vary depending on the projected length of time that the case may take to
settle out with a lump sum payment. There is no application fee if the worker
compensation claim is lost for any reason then the worker is not obligated to
repay the advance. Although many people refer to our services as worker
compensation loans, they are not loans but rather cash advances against the
ultimate lump sum settlement. You are actually selling us a portion of your
potential proceeds from the settlement proceeds of the worker compensation
claim.
Worker Compensation claims in California have taken on different transitions
with new legislation over the years. There were reforms in 1990, 1994 and in
early 1998 there was a rating change. A rating is given to each and every
worker that is injured on the job and has an accepted worker compensation
claim. The PPI or partial permanent impairment rating is given by a doctor for
the worker compensation insurance carrier and by a doctor chosen by the worker.
Those two doctors will need to agree on a PPI rating before the case can
settle. If the first doctor gives a whole body PPI rating of 12% and the second
doctor gives a rating of 20% then they might agree on 15% as a compromise. In
2003 there was another large reform which complicated the process and
evaluation of a Californian worker compensation claim.
In addition to being issued a PPI rating, each worker will be issued a benefit
rating which is related to their income when they were injured. For instance a
worker that is being paid the minimum wage a McDonald's would receive a lower
benefit rating than a worker making $12 per hour in department store. The
benefit rating is also related to the amount that the worker receives while
he/she is out of work trying to recover. The agree on a final lump sum
settlement which will end the worker compensation claim in California, the
Whole Person PPI rating will be calculated along with the benefit rating to
determine the final amount that should be paid to the worker to close out the
claim.
You can apply online or call 866-709-1100 for more information or to apply by
phone. We can usually get workers in California approved for cash advances
within 48 hours after receiving the supporting documentation. We will request
these documents directly from you lawyer.
APPLY
California worker compensation laws are designed to help workers that are
injured on the job receive weekly benefit checks and ultimately a final lump
sum settlement. Unfortunately the weekly benefit checks are not equal to the
income that the worker was previously receiving before their injury and the
worker compensation insurance carrier can deny the worker compensation claim
and pay no benefits. Worker compensation benefits in California include medical
bills, weekly benefit checks & a lump sum settlement.
Global Financial understands the newest California worker compensation laws
which were change in 2004 by Arnold Schwarzenegger. Mr.Schwarzenegger help to
implement new worker compensation laws in California that reduced the monetary
benefits that injured workers in California receive form their employer's worker
compensation carriers.
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