Pre-Settlement Loans for Auto Accidents: What Plaintiffs Need to Know
If you or a loved one has been in an auto accident and are currently involved in a lawsuit to obtain compensation for damages from the person or organization who caused the accident, you may be suffering both from physical injury and the financial losses that occur when you can’t pay your bills.
Are Bills Mounting?
Doctor’s bills, surgeries, physical therapy – in a serious car accident, they can add up to astronomical sums. In a catastrophic car accident that caused traumatic brain injury or injuries to the spinal cord or nervous system, the victim may need around-the-clock care.
But medical costs may be the least of your worries. A serious car accident injury may have caused you to lose time for work – so your ability to earn a livelihood was affected. You may not be able to work at your former job going forward. You may need to be retrained for other employment.
In the meantime, your need to pay the bills for basic needs such as food, a roof over your head, utilities, and more doesn’t stop.
Once you receive fair and just compensation for the accident, these financial worries will hopefully not be as urgent. But the problem is, that may not be soon, or soon enough for your situation.
Car accident lawsuits can take months and even years to resolve. The defendants can also appeal a court case after it’s decided, so even if a lawsuit is decided in your favor, an appeal can delay your receipt of the settlement.
Pre-Settlement Loans Can Help
This can be an economic and emotional bind to be in, causing stress and anxiety on top of your injury.
There is a way forward in financial help, though. It’s a pre-settlement loan.
As the term suggests, it’s a loan to tide you over until the settlement is reached. But it’s not a loan such as a personal loan you’d get from a bank. Pre-settlement loans are nonrecourse. It’s more like a cash advance.
You can use a pre-settlement loan for any reasonable need you and your loved ones have. That includes groceries, rent or mortgage, paying the heating and telephone bills, and more.
Now, if you win your case, you pay back the pre-settlement loan at a reasonable rate of interest.
But what if I lose, you may be thinking. Unfortunate as it may be, not all court cases go in the plaintiff’s favor. It depends on the jury and judge.
But if the case is not decided in your favor, you won’t owe anything on the pre-settlement loan. Yes, not a single thing. You only owe if the case is resolved in your favor.
Don’t Settle for a Low-Ball Offer
A pre-settlement loan not only relieves you of financial stress in day-to-day life, it gives you more negotiating power in your case. Sometimes, defendants make a low-ball offer, knowing that the plaintiffs may have an urgent need for money.
But often, if plaintiffs hold out and negotiate for a higher offer, a much better deal will be forthcoming.
Easy to Apply for a Pre-Settlement Loan
Lawstreet Capital can help by providing pre-settlement loans to relieve economic stress until your court case is decided.
The application process for a pre-settlement loan is convenient and easy. No credit check is required. There are no hidden costs. You can get a pre-settlement loan in as little as 24 hours. Call and speak with a friendly representative today!