If another person’s negligence has injured you, you have the right to file a personal injury claim against them to be compensated for your losses. This process involves several steps— unfortunately, it is not as easy as it sounds.
The first thing you will need to do is consult with an attorney who handles personal injury cases. They will consider the details of your case and determine if you have a viable suit.
Table of Contents
If the lawyer feels you have a car accident case that can be won, you can hire them to represent you throughout the car accident lawsuit. Your attorney can then gather evidence to be presented in your case. To win the case and receive a judgment against the party responsible for your injuries, there must be sufficient proof of the following:
- The accident was caused by someone else
- The responsible party engaged in reckless or careless behavior; and
- The accident in question caused you to sustain injuries
The lawsuit process—from your initial consultation with an attorney to closing your case when you secure a judgment and are awarded financial compensation—can take several months or possibly years. If you sustain severe injuries and are unable to work, this can cause you and your family to need immediate financial relief.
Fortunately, the majority of personal injury cases never make it to a court trial. Instead, a large number are resolved through negotiations between your lawyer and the other party’s insurance company, resulting in an agreed-upon settlement. Insurance companies, however, are well known for taking their time, and reaching a settlement could still take some time.
In the meantime, lost wages, medical bills, monthly payments, and other daily expenses will continue to add up while you wait for your final compensation. In this case, several companies offer pre-settlement funding to help ease the burden of the expenses that have been incurred while you wait for your settlement.
What is Pre-Settlement Funding?
Pre-settlement loans are available to people who have been injured and filed a personal injury claim. While they cover many different types of personal injury cases, motor vehicle accidents are one of the leading causes of pre-settlement funding.
Car accident settlement loans provide injured individuals with financial support while they await the resolution of their personal injury case. This type of funding is particularly helpful for those facing mounting medical bills, lost wages, and other expenses during the legal process. Unlike traditional loans, car accident settlement loans are non-recourse, meaning repayment is only required if the case is successful and a settlement or judgment is awarded. This makes it a useful option for plaintiffs who may otherwise struggle to make ends meet while pursuing justice.
Does an Accident Affect Credit Score?
According to the National Highway Traffic Safety Administration, there were over 5,250,800 collisions in 2020. These statistics show how common motor vehicle collisions are on roadways throughout the United States.
Car accidents happen for many reasons, including dangerous roadways, distracted driving, speeding, driving while under the influence of alcohol or drugs, as well as inclement weather. These auto accident lawsuit loans do not directly impact your credit score. However, the debt you may incur from these accidents could be sent to a collection agency if they go unpaid, hurting your credit score.
Along with a car accident claim, personal injury lawsuits are also prevalent. You may need immediate financial funding when you cannot wait for a lawsuit to reach a settlement.
Pre-settlement auto accident legal funding from Pinnacle Legal Funding is fast and easy. Unlike many lawsuit funding companies, It does not require a credit check and won’t affect your credit score.
When Should I Consider Getting Car Accident Lawsuit Funding?
If you have suffered injuries caused by another party that acted with negligence, you have the legal right to compensation for financial, emotional, and physical losses related to your injury. In your best interest, seek out an experienced attorney to help you file a claim in state or federal court.
While most car accident lawsuits are settled outside of court, insurance companies like dragging their feet, hoping you settle for a lower claim. This can often result in a car accident claim taking several months to years to come to a settlement.
While you wait for your auto accident lawsuits to be resolved, you may be out of work due to your injuries, and the bills and expenses do not stop because of your inability to pay for them.
Regardless of your car accident claim, you will still need to pay your rent or mortgage, feed yourself and your family, and handle day-to-day expenses.
Applying for pre-settlement loans can ease your financial burden by getting an advance on your settlement. It can cover the medical costs and other financial challenges you may be facing due to your injury. Pinnacle Legal Funding can provide relief through personal injury loans and car accident loans.
Steps to Apply for Car Accident Lawsuit Funding
Step 1: Submit Your Information
Start the application process by providing details about your automobile accident claim. You can do this through our online application link or over the phone. This step helps us understand your situation and determine whether a car accident loan is a suitable option for you.
Step 2: Attorney Collaboration
Once we receive your application, we’ll contact your law firm to gather critical details about your lawsuit. This includes discussing the specifics of your case, the hypothetical outcome, and your potential compensation. This information allows us to assess whether we can extend an offer for a car accident pre-settlement advance.
Step 3: Fast Approval Process
You’ll typically receive a response within a day. If your case qualifies for a pre-settlement cash advance, we’ll approve your application and transfer the funds directly to your bank account. Most approved applicants receive their funds within 24 hours of approval, offering quick financial relief with easy car accident loans.
Why Choose Pre-Settlement Car Accident Lawsuit Funding
Pre-settlement funding for car accident lawsuit victims offers a risk-free solution to alleviate financial burdens while awaiting a legal resolution. With no repayment required unless you win your case, this cash advance ensures you can manage your living expenses and medical bills without added stress.
How Can I Use My Car Accident Settlement Loans?
The sad fact of the matter is that when you are injured and out of work, you likely have lost a significant portion of your income and may need help covering living expenses and medical expenses.
By applying for pre-settlement car accident funding, you have the ability to use those funds however you need. Once you are approved and the money is sent your way, you can do what you like with it. It’s your money.
Pre-settlement car accident funding provides a vital lifeline for car accident victims facing financial strain. This type of cash advance is designed to help individuals bridge the gap between their serious injuries and the eventual resolution of their legal cases.
Whether it’s covering rent, paying utility bills, or managing unexpected medical expenses, pre-settlement funding empowers car accident victims to maintain financial stability during challenging times. Solving immediate financial pressures allows victims to focus on their recovery and the pursuit of fair compensation.
Common Expenses Your Car Accident Settlement Funding Can Cover
With pre-settlement legal funding, you can take care of your day-to-day expenses and any accident-related costs you have incurred since you were injured. Some of the more common ways to use your pre-settlement legal funding may include:
- Paying for medical treatment and prescriptions
- Paying for medical expenses
- Living expenses
- Covering rent or mortgage payments
- Paying utility bills
- Buying groceries
- Covering car payments
- Premiums for insurance coverage
- Replacing or repairing damaged property from the motor vehicle accident
- Providing for daily needs such as gas for transportation and clothing for family members
Am I Responsible For Repaying my Auto Accident Settlement Loan If I Lose My Case?
Pre-settlement lawsuit funding is different from a typical bank loan. This type of car accident settlement advance financing is a “non-recourse” loan, meaning the funding company is merely giving you an advance on your future settlement amount, not lending you money that will need to be paid back.
Pre-settlement lawsuit funding may also be called auto accident settlement loans or a lawsuit loan, but these two are not the same. When an injured victim takes out a settlement loan, they agree to a “recourse” loan, which requires them to pay back the loan entirely.
In many unfortunate circumstances, they are required to pay back two to three times the original amount borrowed, even if they do not get the total compensation they expected—or worse, any compensation at all.
With pre-settlement legal funding, however, you have no responsibility for repayment. The attorney handling your lawsuit would receive payment from the at-fault party in your claim and then send Pinnacle Legal Funding a repayment check for the agreed-upon amount.
These types of lawsuit settlement loans are risk-free to you because there are limits to how the lender can pursue repayment with non-recourse debt. Lawsuit loan companies, legal funding companies, or funding companies are not subject to lending laws and are prevented from attempting to be made whole if you do not win your settlement.
Car accident loans are particularly helpful for motor vehicle accident victims dealing with a pending lawsuit. The financial strain of motor vehicle accident lawsuits often comes from mounting medical bills, loss of income, and daily living expenses. Car accident lawsuit funding provides immediate relief by allowing you to access a portion of your potential settlement before the legal case is resolved. This means you can focus on your recovery without worrying about financial hardships.
Motor vehicle accident lawsuits can take months or even years to resolve, leaving victims in a difficult position. Pre-settlement funding bridges this gap, ensuring you can maintain financial stability during the lengthy legal process. Unlike traditional loans, this option is tailored to the needs of car accident victims, providing peace of mind and the resources necessary to move forward while awaiting the compensation you deserve.
Car Accident Legal Funding & Settlement FAQs
Here are the most important things you should know about the auto accident claims process.
How much will a car accident advance cost me?
When you have been the victim of a motor vehicle accident, it can be a smart financial step to pursue pre-settlement legal funding while you wait for a settlement. This is especially true if you are struggling to pay your bills and any medical treatments not covered by insurance.
The fees and interest can vary significantly with a car accident cash advance, but when you work with Pinnacle Legal Funding, we ensure you understand the risk involved and what fees and interest will be before you accept any funds. You are only required to pay back the funding if you receive a settlement or win your legal case.
Is my eligibility for a car accident lawsuit loan based on my credit score?
Your eligibility for a car accident lawsuit loan is not based on your credit score. The funding process is based on the validity of your claim. Legal funding companies offer financial support for motor vehicle accident victims who need a cash advance while they wait for judgment on their claims. Auto accident lawsuit funding will be available to you if the lending company believes your case will be successful.
What will determine the amount of funding I will qualify for?
The amount of car accident lawsuit loans you qualify for depends on several factors, including the strength of your case, the estimated value of your potential settlement, and the extent of your injuries. Lenders typically assess the details of your claim, such as liability, damages, and insurance coverage, to determine the likelihood of a successful outcome and the amount you may receive. The higher the estimated settlement value, the more funding you may qualify for, as the loan is based on the expected compensation from your case.
Is there any regulation on car accident loans or funding?
Car accident loans or car accident lawsuit funding are subject to certain regulations, but these vary by state. While some states have specific laws governing car accident settlement loans, others rely on general consumer protection laws to regulate the industry. Additionally, reputable funding companies often follow industry best practices to ensure transparency and fair terms for borrowers.
Do I Need to Have an Attorney to Apply For Car Accident Loans?
Yes, you typically need to have an attorney to apply for car accident loans. Pre-settlement funding companies require legal representation because they work directly with your attorney to evaluate the strength of your case and determine the potential settlement value before approving the funding.
Could Getting an Auto Accident Settlement Advance Help My Attorney Get Me a Bigger Settlement?
Getting an auto accident settlement advance could help your attorney secure a larger settlement. By providing financial relief, the advance allows you to avoid settling for a lower amount due to financial pressure, giving your attorney more time to negotiate for the best possible outcome.
What Happens If I Need More Funding for my Auto Accidents Before the Lawsuit Has Been Settled?
If you need more funding before your auto accident lawsuit is settled, you can apply for additional car accident lawsuit funding. The funding company will reassess your case, considering any new developments and the updated value of your potential settlement. If approved, you may receive additional funds, but the total amount advanced will still depend on the estimated final settlement and your case’s strength. Keep in mind that all advances will be repaid from your eventual settlement.
Are Our Customers Happy With Our Service?
Yes, our customers are highly satisfied with our service. Many clients appreciate the quick approval process, transparent terms, and the financial relief provided during a challenging time, allowing them to focus on their recovery while awaiting their settlement. We are able to provide car accident loans to help victims cover living expenses, medical expenses, and other financial support while they await the settlement from their auto accident case.
Choose Pinnacle Legal Funding For a Pre-Settlement Loan Regardless of Your Credit Score
If you need financial help in the form of a cash advance and are ready to apply for car accident lawsuit funding, it is crucial that you look for a company that is reliable and honest. You want a lawsuit lending company that offers cost-effective and fair car accident loans.
At Pinnacle Legal Funding, we understand that applying for car accident lawsuit funding can be puzzling or even intimidating. Our friendly team of car accident loan specialists is available to help answer all of your questions. We want you to feel confident in the decision you are making to seek the financial funding you need.
Depending on the details of your case, Pinnacle Legal Funding can offer a cash advance between a $500 to $100,000 settlement advance directly into your account in as little as 24 hours after you submit your application.
You can add the details of your motor vehicle accident case, including your law firm information and the amount you are requesting, right on the Apply Now page.
Do not hesitate to call us with any questions. Injured plaintiffs can reach us at 1-877-4-FUNDING to discuss a car accident loan today.
