Tens of thousands of auto accidents occur in New York City annually. Consider filing a lawsuit against the at-fault party if you were involved in one.
This lawsuit may put you in the position to recover damages as a settlement, which you can use to cover any medical costs and other expenses related to your crash.
While waiting for this settlement to arrive, you may also apply for pre-settlement accident lawsuit funding in NYC. If approved, car accident lawsuit funding will put cash into your pockets before your settlement shows up.
Find out about the benefits of securing a pre-settlement loan like this below.
Provides the Funds You Need Now
According to the National Safety Council, the average auto accident involving minor injuries costs over $25,000. Depending on the severity of your injuries and the damage to your vehicle during a crash, you could end up footing a bill much bigger than that.
If you earn a settlement in your lawsuit, you may use it to cover your crash costs. However, you might have to wait months for it to arrive after accepting an offer from the defendant in your case.
If you can’t afford to wait that long, car accident lawsuit funding will help. It will provide the legal financing you need now and set you up with financial support while you await the arrival of your settlement check.
Prevents You From Falling Any Deeper Into Debt
If an auto accident leaves you with debt hanging over your head, eliminating it as soon as you can is of the utmost importance. This debt could begin to grow substantially if you aren’t able to start paying it down immediately. Before long, the interest rates attached to it could make it unmanageable, even if you eventually earn a fair settlement.
This is another area in which litigation funding will benefit you in a big way. You may use a pre-settlement loan to pay down any debt originating from your motor vehicle crash and stop it from growing out of control.
Enables You To Avoid Accepting a Lowball Settlement Offer
You can negotiate with a defendant through a personal injury lawyer to work out a settlement during your legal case. The vast majority of accident cases — about 95% — end with the plaintiffs and defendants agreeing to settlements and avoiding trials.
You should take full advantage of this and attempt to keep your case out of a courtroom. At the same time, you should also steer clear of accepting a lowball settlement offer that isn’t going to cover all the costs you’re currently dealing with.
Car accident lawsuit funding will allow you to say, “Thanks but no thanks,” to lowball offers. You should take your time during negotiations and hold steady until you receive a fair offer that extends the necessary compensation.
Reduces the Risks Associated With Taking a Lawsuit to Trial
If you aren’t happy with the offers the defendant in your case is sending your way, you may choose to end them and go to trial. However, you should know that, by doing this, you risk walking away from your case without any compensation if a judge or jury ultimately rules against you.
You may minimize this risk with a non-recourse advance. When approving you for legal financing, a lender will agree to only request repayment from you if your case ends with you earning a settlement or judgment. You shouldn’t owe them a penny if you aren’t victorious in court.
Minimizes the Stress Associated With a Personal Injury Case
Going through a personal injury case following a car crash is challenging. You will likely still be recovering from the injuries sustained during it when your case begins. This will cause you to face your fair share of stress each day.
If you’re struggling financially, this will add to your stress and potentially make your case feel like a nightmare. However, you might effectively sidestep this stress by applying for and being approved for legal funding.
Knowing that you have the financing you need coming your way will put your mind at ease. It could work wonders for your mental health as you navigate the legal process.
Contact Us To Begin Applying for Lawsuit Funding
After hearing about all the benefits of car accident lawsuit funding, are you ready to apply for it? Before doing so, make sure you meet the pre-settlement funding qualifications after a car accident.
As long as you do, you can fill out an application through Apex Legal Funding and see if you’re approved. Call us at 1-800-377-4934 today for more information on how our legal loans work.
FAQs
Do you still have questions about lawsuit funding? Look for answers to them below.
How Do I Apply for a Pre-Settlement Loan?
You can apply for a pre-settlement loan right online in many instances. Apex Legal Funding makes it easy for you to apply for one on our website. Just provide us with some basic information about yourself and your personal injury case, and we will let you know if you’re approved for a legal loan in as little as just a few hours.
How Will I Repay a Lawsuit Loan?
You will repay a lawsuit loan using the settlement funds you receive at the conclusion of your case. If your case isn’t successful, you will not be required to repay the compensation you collected. Apex Legal Funding will inform you about the repayment terms you will face before approving your application and sending the cash you need.
How Soon Will I Receive Car Accident Lawsuit Funding?
You will receive car accident lawsuit funding within just 24 hours in many cases, and a lender like Apex Legel Funding will often deposit it directly into your bank account. This will ensure you don’t have to wait long to secure the money you need to cover medical costs, auto repair bills, and other expenses from your motor vehicle crash.
