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Why Would I Need a Car Accident Lawsuit Loan?

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Filed under Automotive, Automotive Help, Editorial

If you have been in an accident and suffered injuries, you may be dealing with pain while trying to get your car repaired. You may also be unable to work and feel anger and frustration at your current situation. You may have decided to work with a car accident lawyer to help you get the compensation you deserve and, although a lawsuit has been filed, you may still not have the funds you need and have no clear idea as to when that would happen. Your lawyer might be engaged in negotiations with the other party or you might be waiting for the judge or jury to come to a decision and your financial worries might find no end in sight. In these instances, a car accident lawsuit loan might be just exactly what you need.

How would you qualify for a car accident lawsuit loan?

In general terms, car accident lawsuit loan companies look at two elements when deciding if you qualify for a loan:

  • The strength of your case and the likelihood that you will be able to prove liability
  • How severe your injuries are since this will determine the potential value of your case

How does a car accident lawsuit loan work?

The process is quite easy and straightforward:

  • You fill out the application and submit it, generally online.
  • You provide your lawyer’s information so that the loan company may have a talk with them and discuss the details of the lawsuit and its potential outcome.
  • Once your case is reviewed and the amount you qualify for is determined, you are approved.
  • You receive the funds within 24 hours.

How can having these funds help you?

Living through the frustration of dealing with your injuries while waiting for your case to settle is a big weight on your shoulders. You cannot afford to wait months or maybe years to receive the settlement or judgment amount while having to keep paying your doctors and all your living expenses.

This loan will help you cover such items as:

  • Your medical care and rehabilitation
  • Your rent or mortgage payments
  • Your daily living expenses
  • Any legal fees

Although it is expected that you will repay the loan once you receive the money from your case, it is recommended that you do not ask for any more money than what you require to cover your financial needs.

What are the main advantages of getting a car accident lawsuit loan?

You know that your lawyer has worked hard to build a strong and compelling legal case. You have been told that, with all the evidence that has been gathered, there is an expectation that the case will turn out favorably for you. However, when negotiations start, you may feel pressured by the other party or their insurance to accept the first amount offered. Having the funds from the loan in your hands, allows you to negotiate from a position of strength.

Also, having the funds from a car accident loan will allow your lawyer to have the needed time to negotiate a better settlement on your behalf. The other party, their lawyer, or their insurance will not be able to pressure you into accepting a low offer since you are in no urgent need to get paid immediately.

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