According to the World Health Organization, up to 50 million people incur road traffic injuries each year and auto accidents are the ninth leading cause of death in the world. Car accidents are projected to be the fifth leading cause of death by the year 2030. One out of every 25 drivers has reported falling asleep behind the wheel in the past 30 days. Road traffic accidents are a tragically common occurrence.
If you’re involved in a car accident due to the negligence of others you will experience damages. Economic and non-economic damages will affect your livelihood. Being in an accident is already stress-inducing but when you add the financial burden of recuperating your life on top of that, the problems could be unbearable. If you’ve been involved in an accident at no fault of your own contact a lawyer and seek justice for your case. Luckily, in less than 24 hours, you can apply for a pre-settlement loan and begin rebuilding your life.
What Is A Car Accident Loan?
A car accident loan isn’t a loan but a cash-advance on any potential settlement from your case. This advance is non-recourse and contingent upon a legal settlement. If you don’t receive a legal settlement, then you are not responsible for repaying any amount of the loan borrowed. If you need money to cover your medical expenses, bills, car repairs, or other damages incurred because of your accident, then apply for a pre-settlement loan.
How Can I Get a Car Accident Settlement Loan?
Getting a settlement loan is really easy and can be done from the privacy of your own home following these simple steps:
- Submit your application online or by phone.
- Your lender reviews the details of your case with your attorney.
- The lender normally gets back to you as soon as possible and sometimes within 24 hours.
- If you qualify, your lender sends an agreement to your attorney.
- You and your lawyer approve the agreement together.
- Your lender cuts you a check.
Settlement loans can reduce the stress and hassle you experience because of your accident. Just because your life has had to come to a halt due to your accident, doesn’t mean your expenses will. Working with caring professionals who have dealt with cases just like yours and securing a pre-settlement loan can help reduce the financial setbacks you experience.
Should I Apply For a Pre Settlement Loan for an Auto Accident?
According to a comprehensive study involving data compiled from the National Highway Traffic Safety Administration (NHTSA), the Centers for Disease Control and Prevention (CDC), and the Federal Motor Carrier Safety Administration (FMCSA) each day there are more than 140 million people commuting the roads in the U.S. and a fifth of them are likely to be involved in a car accident over the next five years. Car accident claims cost Americans lots of dollars and from the year 2007 to 2012, medical expenses and lost wages increased by eight percent and four percent for those claiming a bodily injury.
Health care costs are expected to rise by an average of five percent each year over the next decade. Bear in mind that increasing medical costs, inflationary cost of living expenses, and the pain and suffering of being involved in a car accident provide a few reasons to apply for a pre-settlement loan today.
Have you suffered an injury as a result of an accident and hired an attorney? If so, then you qualify for a pre-settlement loan. Most car accidents are covered including common accidents like bicycle, motorcycle, Uber and ride-sharing, commercial vehicles, buses, and other accidents resulting in fractures, broken bones, loss of limbs, head injuries, tissue damages, etc. Each accident case is special but there are significant benefits to applying for an accident loan.
You should apply for a pre-settlement loan if you need help covering medical, legal, and daily expenses, need more time to negotiate a favorable settlement and to prevent yourself from going into debt while your case status is still pending.
Can I get a loan while my car accident settlement is pending?
Yes, pre-settlement funding provides you with a cash advance on the money you expect to receive from a settlement. Car accident loans won’t hurt your credit score because you only have to pay if you win meaning it is risk-free.
Frequently Asked Questions about Car Accident Loans
Here are some commonly asked questions about car accident loans from other accident victims and law firms.