Take Car Accident Loans To Pay Medical Bills, Legal Fees, And Car Fixes While Waiting for Settlement
When you are involved in a car accident that wasn’t your fault, you are eligible to get compensation for the damages that occurred because of the other driver’s fault. Generally, insurance companies pay for the damages, but sometimes they delay the process or even deny paying for them. When this happens, you need to talk to a lawyer and file a lawsuit for the wrongdoing, which takes time and costs money. And not everyone has the money in savings to pay for the medical bills they incur and pay a car repair shop. Therefore, we provide car accident loans to people who get injured in a no-fault accident and seek compensation from the offender via court.
Our pre-settlement funding for car accident cases is made to help you deal with the financial issues that this unfortunate event has caused. Further, our cash advances are based on the strength of your case, and they’re completely risk-free because you pay only if you win the case. We offer you a lump sum in exchange for your future settlement award, which you can use right now to pay for medical bills, attorney fees, expert opinions, any urgent surgery, or getting your car fixed. We can provide anywhere from $1000 to $100,000 depending on the strength of the case and your needs.
Overview Of Car Accident Lawsuit Loan
A car accident lawsuit loan is a financial tool that helps you secure your financial situation while you are involved in a pending car accident lawsuit. Let’s understand how!
If you’re in an auto collision, your insurance may not cover the vehicle, or you may have loopholes in the coverage policy. Or perhaps your injuries prevent you from working and, therefore, from making enough money to cover necessary medical treatment, lost wages, and other expenses related to your injuries. Personal injuries because of a car accident can leave you without any income for months or even years. Lawsuits can take years to resolve, and they are themselves costly, so you cannot completely rely on a settlement that has yet to happen.
Car accident lawsuit loans, on the other hand, serve as a bridge that fills financial gaps by providing immediate funds to cover your necessary expenses, as well as allowing you to focus on recovering from injury rather than spending time on loan paperwork or experiencing further delays in receiving medical care.
Car Accident Pre-Settlement Loans Working Method
There is no doubt that car accidents can be devastating, and sometimes they can be fatal, leading to loss of life. A car accident not only causes physical injuries but also economic losses. In the US, traffic accidents are significant reasons for severe injuries. The rate of filing car accident claims in court is at an all-time high. But the way cases are settled isn’t good, so there are a lot of pending cases in every court in every state. Our interaction with several plaintiffs has made us realize that car accident claims can take a while to settle and to be blunt, they can take more than a couple of months.
Therefore, we have come up with this solution of lending cash to people with pending car accident claims in exchange for their future compensation awards. The application process is very simple, and it is the only risk-free option available out there. Here, if you apply for pre-settlement funding, you first need to make sure that you have a genuine case that has a higher chance of getting a fair settlement, and further, that your attorney agrees to pre-settlement. Based on the merits of your case, we will decide on a lump sum amount that we can offer, and after you and your attorney sign the agreement, we will release the funds and you will get money in the next couple of days. Below is the step-by-step process of getting loans for a car accident claim.
Process Of Pre-Settlement Funding For Auto Accident
With more than 6 million car accidents every year, it’s common for people to get into a car accident lawsuit. And with an increasing number of auto collisions, the demand for loans against car accident lawsuits is also increasing. Therefore, we have created a very transparent application process to get a loan on a car accident settlement.
Step 1: You apply for a cash advance by filling out an online form or calling our team
The applying part is very simple; all you need to do is fill out the form given on the website, where you need to fill out details like your contact information, case-related details, such as an attorney’s name and their contact information, and the amount you need.
Step 2: We evaluate your case strength
Once you apply, our internal team of experts will get in touch with your attorney and ask them for some case-related information. Based on the responses and insights into your case, we will determine the amount we can offer. Mostly, the evaluation takes less than a day if your attorney gives a prompt response by providing the necessary case information.
Step 3: Sign the agreement and take the funds
Once the evaluation is done on our end, we will approach you and your attorney with the agreement, where we mention the terms of pre-settlement funding in your car accident case. After you and your attorney agree to it and send us back the signed document, we will release the funds to your account in the next 24 to 48 hours, depending on the working business day.
Eligible Criteria For A Car Accident Loan
First of all, people who are involved in a car accident claim are only allowed to apply for car accident loans; further, there are a few more criteria that you need to fulfill before you become eligible for them. Such as
- Your age is more than 18
- You suffered injuries in a car accident that is not your fault
- Either the individual or their family member (in case of victim’s death) is allowed to take a car accident lawsuit loan
- You are working with a car accident attorney which takes a contingency fee
- You are willing to take money in exchange for a portion of future settlement
Types Of Auto Collision Cases We Fund
Other than car accident lawsuits, we also provide pre-settlement loans on other types of road accident lawsuits involving other vehicles. Some of the most common auto collision accidents for which you can get lawsuit funding are:
Taxi & Limousine Accident
Like any other commercial vehicle, taxis and limousines usually have considerable coverage. The limits vary depending on the type of vehicle, but the coverage amount is frequently greater than $100,000. If you were involved in an accident and are currently suing the taxi company, you can obtain pre-settlement funding from our firm.
We can give you a loan for a bus accident if you are still getting paid by a public (self-insured) or private bus company. In the US, bus accidents fall under “liability,” and those who are hurt can file a claim. If you suffered injuries or lost a loved one in a bus accident, bus accident loans are meant for you.
Whether you are equipped with bike safety gear or not, an accident can be traumatic. Bike accidents predominantly result in lots of injuries, broken bones, etc. It’s more traumatic if there are no mistakes. Motorcycle accidents are high-value cases in which you can take a cash advance if you have a pending lawsuit against the offender.
Any road accident, such as pedestrians being hit by a car, can make the person suffer through pain and a cash shortage. Our company, ECO Pre-Settlement, has been providing cash advances to plaintiffs in pedestrian accident cases for a decade now.
Ridesharing Vehicle Accident
We offer quick and easy legal funding to people who were injured while riding in any online taxi app, such as UBER and Lyft. Mainly, ridesharing brands have $1 million in coverage for bodily injury and other uninsured motorists (UIM) coverage. This coverage means that the plaintiff can get money even if the accident wasn’t their fault.
Benefits Of Taking Cash Advance For Car Accident Lawsuit
The quickest way to get funds for your lawsuit
When you have a car accident, your life can become complicated, and you may suffer life-threatening injuries, the loss of limbs, or disability for your whole life. Other than physical body injuries, there are economic damages too, which can take a toll on your life. Loss of wages, increasing medical bills, and costly legal advice compel you to find quick funding. We understand your pain. Therefore, we have a simple loan application process through which we can provide you with money in just a couple of days.
No credit checks are needed
Traditional lending institutes like banks mostly give you loans based on your credit score. People who have lost their jobs due to a car accident, on the other hand, may have already harmed their credit rating because they have no proof of future income. Those people may be denied a cash advance from a bank because of their bad credit history. But now, with the availability of a pre-settlement loan on a car accident case, you don’t need any credit history or proof of income to get a cash advance.
No collateral is required
We don’t need collateral because we’re giving you a cash advance on your ongoing car accident settlement in exchange for a portion of your future settlement. Your current lawsuit, which is in a trial phase, will serve as collateral to obtain funds.
You pay only if you win
Our company only gives a non-recourse car accident pre-settlement loan, which makes it the safest option available. Non-recourse means that the applicant is only liable to repay the loan if they win the case. But if they lose the case and receive no settlement, they will owe nothing to the lending company.
Common Car Accident Lawsuit Funding FAQs
What are car accident loans?
It is a financial solution created for people who are in need of a cash advance while they are in the middle of an ongoing car accident lawsuit. Here, they get a lump sum right now in exchange for a portion of their future settlement award.
Who is eligible for a car accident loan?
Anyone who has a pending car accident lawsuit is eligible for a cash advance from us if their state law allows for a cash advance on the lawsuit.
How much can I borrow with an auto accident loan?
Depending on the severity of your injury and the strength of your car accident case, you could receive anywhere from $1000 to $100,000.
How long does it take to get approved for a loan?
It takes only a couple of days to get an approval if your attorney shares all relevant case information without any delay. Further, once you get approved for a fund, you will get money in 24 to 48 hours.
What is the process for applying for a cash advance?
The process of applying is very simple; all you need to do is fill out an online application or call 800-961-8924. Share all the relevant information that has been requested in the online application or by our executive.
What documents do I need to provide for a car accident loan application?
Only car accident case-related details are needed to be submitted by the attorney. Some common documents are
- Copy Of Complaint
- Police Report
- ER Discharge Summary
- All Operative Reports/MRIs/Treatment Records
- Defendant’s Insurance Info (carrier name and policy limits)
- Total Liens/LOPs/Unpaid Bills to Date
- Lost Wage Claim (if any)
- Status as to where the case stands procedurally
- Previous Offers (if any)
Can I use the loan for repairs not related to a car accident?
Since we put no obligation on how the applicant uses pre-settlement funding, you are free to use cash on things other than car repairs as well.
Do I need to have good credit to get a car accident loan?
No, a good credit rating is not required to be approved for car accident pre-settlement funding; people with bad credit histories can also get funding if their case has a good chance of being settled.
How is the loan amount determined?
There are a few key points via which loan amounts are determined in a car accident lawsuit loan. Those points are:
- Severity of injury
- Strength of case
- State of accident
- Expected settlement time
- Expected value of the settlement
Do I need attorney approval?
Yes, you will need attorney approval to get pre-settlement funding from us. We only provide cash advances if your attorney agrees to the terms and is ready to share the future settlement award in exchange for a lump sum right now.
Work With the Best Auto Accident Loan Provider
We are a decade-old, trusted pre-settlement funding company that is helping clients all over the US when they need cash advances on their pending car accident claims. Our approach is non-invasive, where we are genuinely helping people overcome financial hardship caused by an ongoing car accident lawsuit and personal injury. Our expert team will resolve all your queries about lawsuit loans in depth.
Further, with our simple online form, you can apply for car accident loans in a couple of minutes. Not everyone can give you urgent funds—neither the bank nor credit card companies can do so without collateral—but we can. Take the cash advance you needed urgently to pay for medical bills, surgeries, attorney fees, or any personal expenses that needed to be settled quickly. Just apply by filling out the below-given form or call our toll-free number 800-961-8924