There’s no doubt about it: The road is a dangerous place. In a given year, the United States sees over five million medically consulted injuries and over 40,000 fatalities from car accidents. Besides causing physical pain, debilitating injury, and mental anguish, auto collisions can be expensive. If you also can’t work because of your injuries, things can feel overwhelming in a hurry.
Car accident lawsuits offer hope for financial relief. Unfortunately, they can take months or years to resolve. What do you do in the meantime? Rather than hastily accepting a settlement offer from the insurance company, consider seeking car accident lawsuit funding.
Legal funding for pending lawsuits helps fill the gaps until your case settles. You can think of it as a pre-settlement cash advance. Unlike most cash advances, however, you won’t need to pay it back if your case doesn’t go your way.
This post covers eight benefits of pre-settlement accident lawsuit funding for plaintiffs.
1. You Can Use It for Anything
You may struggle to pay your bills if you’ve been involved in a serious crash. Beyond everyday expenses like housing and food, you may now face exorbitant medical expenses and costly car repairs. Thankfully, you can use pre-settlement funding for just about anything you need, including the following:
- Housing
- Groceries
- Healthcare expenses
- Child care or school tuition
- Utility bills
- Credit card debt
- Vehicle repairs or payments
- Other transportation costs
2. Financial Relief Comes Quicker
Lawsuits typically don’t move fast, but auto accident lawsuit funding often does. If you qualify, you may receive cash for your lawsuit in as little as 24 hours. Typically, all the pre-settlement funding company requires is a quick consultation with your attorney to understand the merits of your car accident case. The lender will then review your case documentation and likely notify your lawyer within 24 to 48 hours.
3. It Gives Your Attorney More Time To Work
Strong personal injury cases take time to prepare. Your attorney may need to interview witnesses, track down surveillance footage, locate medical records, and consult accident reconstructionists. If you’re struggling financially, you may feel pressure to accept the first settlement offer you receive. Pre-settlement funding gives you and your attorney the time to build a better case and negotiate a fair settlement.
4. It Gives You More Time To Recover
According to the National Safety Council, motor vehicle collisions are the third-leading cause of preventable injuries in the United States. Car crashes can cause anything from bruises and broken bones to spinal cord damage and traumatic brain injuries (TBIs).
If you’re worried about losing your home or putting food on the table, you’re probably not resting and recuperating as you should. Securing lawsuit funding before your settlement gives you breathing room to focus on your health and family.
5. You Don’t Need Good Credit
Your credit score is the last thing you need to worry about during your recovery. Pre-settlement lawsuit cash advances don’t require a credit check — or collateral.
Instead, pre-settlement funding companies base their decision on the strength of your case. They work with your attorney to understand your chances of winning, whether you were negligent in the accident, your insurance policy limits, and the settlement amount you seek.
6. There Are No Monthly Payments
Unlike a credit card or traditional loan, pre-settlement funding does not require monthly payments. Instead, you will repay the loan from your final settlement amount when your case is resolved. That means you owe nothing until (and unless) you collect a settlement.
7. Applying Is Simple — and Free
To see if you qualify for legal funding, you can call the pre-settlement financing company or fill out a form online. You generally need to provide only the basic details, including your name, contact info, and attorney’s information.
To apply, you must typically be at least 18 years old, have already filed a personal injury claim, and have hired a contingency-based lawyer. You shouldn’t need to pay any upfront or out-of-pocket costs.
8. You Owe Nothing If You Lose Your Case
If you qualify for pre-settlement funding, you receive a percentage of the estimated value of your settlement — typically 10% to 20%. One of the best parts of pre-settlement funding is that it is a non-recourse loan. That means you owe the lender nothing if your car accident case does not go your way.
Need Lawsuit Financing Before Your Case Resolution? Contact Us Today!
Do you have a pending lawsuit but need money now? Contact Apex Legal Funding, LLC to learn more about pre-settlement lawsuit funding for car accidents. Whether you have questions about the process or want to schedule a free consultation, call us today at 1-800-377-4934.
FAQs
How long do car accident cases take to settle?
Car accident cases can take from as little as a month to two years or more to settle. The timeline depends on factors like the complexity of your case, the severity of your injuries, and the level of cooperation between the two parties.
What is a fair car accident settlement amount?
A fair car accident settlement amount provides reasonable compensation for the losses you have suffered. While there is no exact formula to determine the value of an injury claim, a fair settlement covers your medical expenses, lost income, and past and future pain and suffering.
Where does settlement money come from in a car accident case?
Settlement money in a car accident case typically comes from the other driver’s insurance company or your own insurer. You may consider seeking pre-settlement funding to help you bridge the financial gap until your lawsuit is resolved.
Do I need an attorney to reach a car accident injury settlement offer?
You do not need an attorney to reach a car accident injury settlement offer. However, experienced attorneys are invaluable for negotiating with insurance companies, calculating fair settlement amounts, and protecting your legal rights. You typically need an attorney to qualify for pre-settlement funding for lawsuits.
