If you’ve been in an accident, do you know how to access the money you need to pay off your medical bills and car repairs?
Without insurance or sufficient funds on hand, obtaining this money can be difficult.
Fortunately, lawsuit funding exists to help people like you get the cash they need quickly. Even if they don’t have permanent personal injury protection (PIP) or health insurance coverage.
Learn more about how lawsuit loans work and whether they’re right for you by reading this article!
Car Accident Settlement Funding Will Help You Get Back On Your Feet
If you’ve been injured in a car accident, it’s only natural to feel stressed and overwhelmed with medical bills and financial obligations.
A car accident settlement can take several months to finalize; which means that if you don’t have sufficient funds on hand, you could face mountains of debt before your case even reaches settlement.
If you are under a lot of stress due to a recent car accident. This guide on managing trauma after a car accident will definitely help you.
It’s hard enough to deal with physical pain—having financial concerns on top of it only compounds these problems.
Fortunately, there are solutions to help ease your car accident debt burden.
You might be surprised by how easy it is to get approved for a car accident lawsuit loan! Learn more about your options today!
How Car Lawsuit Loan Companies Can Help
Car accident loans can help ease the financial strain caused by an injury and/or a damaged vehicle.
If you are unable to work while recovering from an accident, or if your car has been destroyed, you might need money to pay bills or buy necessities.
A personal loan is one option, but some companies specialize in helping people recover from car accidents.
If you qualify for a cash advance, you can use it for anything that helps you bounce back financially—including temporary living expenses and medical bills related to your injuries.
It’s a great way to ensure that your recovery doesn’t get stalled because of finances.
Getting A Car After An Accident
Another major reason people who suffer from personal injury choose to file a car accident lawsuit is that they need a car to get back and forth to their medical appointments.
Without a car, you are limited in your ability to travel around. It becomes more difficult to continue your normal life, at least while you’re recovering.
Most insurance companies will cover transportation expenses as part of your overall settlement, but they can be very slow when it comes to paying out those expenses.
A much better option is to work with a company that offers car accident lawsuit loans.
So you can start enjoying your new car immediately rather than waiting weeks or months on end until your claim is settled and paid out by your insurance company.
What Do Car Insurance Companies Cover?
Car insurance companies typically offer a few different types of coverage: liability, physical damage, and comprehensive.
Physical damage will cover damages to your vehicle caused by an accident or theft.
Comprehensive offers protection against everything from weather damage and dents to fires, floods, and earthquakes.
Liability covers damages done to others and their property in an accident you cause; it’s also what kicks in if your car is stolen or damaged in a natural disaster that is not covered by comprehensive.
When Is the Right Time to File a Claim?
It’s important to look into your state’s laws when it comes to filing an injury claim. Not all states have a statute of limitations, so there is no time limit in which you must file a lawsuit.
In most cases, however, you will only have a certain amount of time after your accident to file a claim; if you wait too long and miss that deadline, it can be more difficult or impossible to win any compensation at all.
If your case does fall under a statute of limitations, then don’t wait until its last day. But do keep in mind that it may take longer than you expect to get treatment and make a full recovery.
What Should I Do If I Was Injured in an Auto Collision?
The first thing you should do is get medical attention if you feel you need it.
If your injuries are minor, use these tips to deal with them at home and call a friend or family member who can pick you up from the accident scene.
Wait for the police and emergency responders to arrive on the scene before moving any vehicles involved in your car accident.
Even when there’s no visible damage to your vehicle, you should still have it checked out by a mechanic. Since mechanical damage may not be evident at first glance.
If I File an Injury Claim, How Much Will I Get Paid?
The amount you can receive from a car accident lawsuit varies, depending on multiple factors, including:
- Your medical bills
- Your lost wages
- The extent of your injuries
- Whether or not you were partially at fault in causing the accident
Additionally, if your injuries prevent you from working full-time and earning a living. You might be able to receive temporary disability payments.
If your injuries are more severe and require that you hire someone to help with daily tasks, you may be entitled to compensation for caregiver expenses.
It’s important to note that all of these amounts are only an estimate; the actual award will vary based on your specific case.
Can car accident lawsuit loans hurt my credit score?
The short answer is no. However, keep in mind that there are always risks and uncertainties any time you borrow money.
Taking out a loan is no different—and there are certain steps you can take to mitigate those risks and help protect your credit score.
The biggest thing is to make sure you pay off your loans on time.
If you’re taking out a lawsuit loan to cover medical expenses, legal fees, or other damages related to an accident.
Make sure to use it only for those reasons; otherwise, taking out one of these loans could do more harm than good.