Lawsuit Funding for Car Accidents

If you or a love one has been injured in a car accident and are experiencing financial hardship, there may be a way out. Lawsuit funding for plaintiffs can be a way to get compensation prior to your case settling in court. When someone is injured in a car accident it can ultimately affect the lives of both the injured party and their families.

When looking for a lender that provides lawsuit loans consider the following:

  • There are companies that offer non-recourse funding which means you don’t have to pay back the loan if your attorney isn’t successful in getting compensation.
  • The approval process is gaged by the strength of your case.
  • You should select a company that is familiar with your type of accident. There are certain funding companies that charge higher rates for certain accidents while others that don’t. Again make sure that the funding company you work with has familiarity in handling cases that involve car accidents.
  • Credit an employment is a non issue
  • An approval generally takes up to 24 to 48 hours
  • When you receive a lawsuit cash advance you don’t have to pay back the lender until your case has settled. This is much different than a typical loan.
  • There are many companies that provide different rates and payouts. Always look for the company that provides the best solution that meets your financial needs.

If you have been injured in a car accident due to the negligence of another you have two viable options: You can settle your claim with the insurance company forgoing a legal battle, or hire an attorney on your behalf to try to get full compensation for your injuries. For some people going into litigation could mean months and possibly years without getting paid.

This could put a financial strain on the innocent party and much can be lost. Depending upon the damages and injuries that occur this could mean loss of wages, ongoing medical expenses, cost for repairs, out of pocket expenses.

A lawsuit loan or pre-settlement loan could be a viable option to pay off these sorts of expenses. Lawsuit cash advance could also be a way to pay off expenses related to college tuition, rent, mortgage payments, gas and electric and other everyday necessities.

A personal injury lawsuit is what an attorney will file for a motor vehicle accident. Once the attorney files for the lawsuit you can be immediately eligible to receive a legal cash advance for all injuries and damages incurred as a result of the accident. As a plaintiff you may have the option of settling quickly and taking the first offer, however, as your attorney may advice you the first offer may not take care of all your expenses related to the accident. This can increase the amount of time before you get compensation from the insurance company. If you were in a financial crunch perhaps you would take their first offer to keep you from going deeper in-debt.

There are many people that are unaware that lawsuit funding exists before a lawsuit settles. Many people believe that funding companies only work with clients that have structured settlements.

There are many reason to consider lawsuit funding but without fully understanding how it works or what to look for in a legal funding lender it can be stressful. LawLeaf is here to help. LawLeaf is an online funding service that works with the plaintiff. At no cost or obligation we evaluate your case and allow our lenders to compete for your business. This will allow you to shop payouts, payment schedules and rates. We do the leg work and you make the final decision. At LawLeaf, we believe a personal injury case is very similar to lawsuit funding. It may not be wise to take the first offer that comes your way.

For more information on personal injury lawsuit funding or car accident cash advances visit the LawLeaf website today.

*Lawsuit funding can be used in a variety of terms mentioned throughout this article. These terms include: Lawsuit cash advance, legal cash advance, pre-settlement funding, lawsuit loan, personal injury loans, personal injury lawsuit funding, legal financing, litigation funding, legal funding, pre-settlement cash advance and personal injury cash advance.

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6 Responses

  1. I was involved in an auto accident several months ago and I’m doing research on companies that provide lawsuit cash advances. I posted message on this site a few hours ago and I would like some feed back on Lawleaf or other legal funding companies. Please respond to the best way I should approach legal funding.

  2. My suggestion would be to allow lawleaf to do the work for you.

  3. Thank you for posting this article! I just got a cash advance using Lawleaf.com. I’m not one to promote a company but I really needed the money and I found this article while searching for a company. I also would like to tell you that this site is very informative and I will be sure to use it again if I’m in need of legal information.

    Thank you!

  4. I am considering lawsuit funding for my car accident. I’ve never considered lawsuit funding in the past because I’ve never been involved in an accident of this type. Based upon my investigations these types of companies charge higher interest rates than most banks and I’m a little concerned that I would owe more than I borrow at the end of the settlement. I understand the reason why they charge higher rates but I would be in the same position that I’m in now if my case takes longer to settle. If I decide to get funding how much should I ask for and at what point can I get the money.

  5. If you are trying to secure lawsuit funding for a car accident consider the following:
    Lawsuit funding charges a premium because they are taking on the burden that your case will settle. If you case does not settle you don’t have to pay back the loan. This is called non-recourse funding.
    The second thing to point out is they can not collect any compensation over and beyond of what you get out of the case. For instance if you borrow $50,000 and you only get $10,000 out of the case, the funding company only collects $10,000 and not the other $40,000. In other words they can’t get more money out of you over the amount of money that you get from your personal injury lawsuit.
    Last, funding companies will fund only a percentage of your case. I’m not too sure what the percentage is but they will look at your case and try to figure out how much money they think you will get. The larger the projected compensation the more money they will lend you. Each lender has different breakdowns and different percentages. For example if your car accident lawsuit is worth a $1,000,000 a company may fund up to $150,000 / $200,000.
    How much you ask for is really up to you. If they believe you are asking for too much money they will probably deny your upfront claim and come back to you and tell you to request a smaller amount.
    Good luck and I hope this helps you.

  6. Thankfulness to my father who shared with me on the topic of this web site, this website is truly awesome.

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