What to Know About Product Recall Funding
What is a product recall?
A product recall occurs when safety issues are discovered with a product and consumers are notified to return the product to the manufacturer, seek repairs, or if a medical device, receive surgery to correct or remove it.
How do I know if I have been affected by a recall?
Consumers can learn about product recalls in several ways. If a recall affects enough people, the news media may report on it. Sometimes, consumers register products they purchase with the manufacturer. In those cases, the company issuing the recall will attempt to contact you.
Additionally, consumers may search government websites such as www.recalls.gov, which offers a comprehensive list of recalls affecting food, medical devices, and other products, or the federal Food and Drug Administration website, which maintains an up-to-date list of recalls for products the administration oversees.
What types of recalls are there?
The FDA classifies recalls three ways, depending upon the potential severity of damages. Class I recalls are for products that could cause serious or fatal health problems. Class II recalls are issued for products that could cause temporary, but not life-threatening, health problems. Class III recalls are for products that are not believed to threaten human health, but instead violate FDA rules for labeling or manufacturing.
How are recalls initiated?
Companies often voluntarily recall faulty items in hopes of reducing their liability.
DePuy Orthopaedics, Inc., for example, voluntarily recalled its ASR XL Acetabular System, a metal-on-metal hip replacement, after a review of implant recipients revealed that 13 percent needed revision surgeries within 5 years. About 93,000 patients received the implants, and many of them have filed lawsuits, seeking compensation for medical bills and hardship. Pre-settlement lawsuit loans are available to assist those seeking damages in DePuy hip replacement lawsuits.
A second example of potential harm arising from medical equipment involves malfunctioning vaginal mesh implants, given to women with damaged or weakened vaginal wall tissue. The implants, many of them manufactured by Johnson & Johnson, ended up causing painful complications in these women instead of offering relief.
Tens of thousands of affected women have sued to recover costs for medical bills and compensation for personal suffering. If you need assistance raising funds for your vaginal mesh lawsuit, consider a lawsuit cash advance.
What are my legal rights if I have been affected by a recall?
Your legal rights vary depending on the product. Generally, recalls have no expiration date, and so you may ask for a remedy when you discover the problem.
If you have experienced health issues, pain or suffering because of a recalled device, you may be entitled to monetary compensation through court action. An attorney can help you recoup damages from the company that issued the recalled product.
How can lawsuit funding help my recall lawsuit?
Initiating a recall lawsuit requires hiring attorneys, expert witnesses and other professionals. Costs associated with paying for the help you need can quickly escalate beyond your financial capability. In addition health issues, pain or suffering may interfere with your ability to work to pay living expenses and seek additional medical help.
A pre-settlement loan helps you cover these product recall-related lawsuit expenses until your case reaches a settlement. Contact an experienced legal funding expert for more information regarding lawsuit funding and pre-settlement loans for your lawsuit.