Car Accident Lawsuit Funding

Content Provided By LawLeaf

LawLeaf is an on-line lawsuit funding service that matches victims with lenders. If you are currently seeking additional information for a cash advance, contact LawLeaf today at www.lawleaf.com.

There are many things that we can expect in life and a car accident is certainly not one. Car accident lawsuit funding is an advancement of cash prior to a settlement of a lawsuit. Over the last 10 years we have seen an increase of car accidents throughout the United States. As the rise in population increases so does the demand for transportation. It is quite simple, the more cars that are on our highways and roadways the better chance there are for car accidents.

Weather conditions, traffic patterns and multitasking are several reasons why car accidents occur. Whenever you get behind a wheel of a car it is imperative that you use caution when driving. Unfortunately for many people caution is a secondary instinct and negligence takes over. When someone is a victim of a car accident due to the negligence of another driver, they have the right to hire legal representation. An attorney can assist in evaluating your case and filing a claim against both the driver and the insurance company of the driver.

While many accidents turn out to be fender benders, there are unfortunately some that can cause catastrophic injury. When involved in such an accident there may be a long rehabilitation process which means your settlement will take just as long. An attorney will typically consult with their client and recommend they go through months or even years of physical therapy prior to a settling a case. The reason why most attorneys recommend a rehabilitation process is so their client can claim ongoing medical expenses without having to settle a case prematurely and risking getting stuck with these bills.

As many people know severe injury could result in loss wages or loss of job. While the victim is rehabilitating their injuries they also need to consider their financial position. For some people that are financially struggling lawsuit funding for a car accident could make sense.

Car accident lawsuit funding is a loan against a case that has not settled. For instance, if you were injured and needed money, car accident lawsuit funding could help pay for bills prior to a settlement. Another phrase for this type of loan is a car accident cash advance. Money that is loaned to you with the understanding once a case is settled you must pay back that loan.

There are many misconceptions about lawsuit funding. The first is that the rate of such companies charge higher than standard loans from a bank or even credit card company. While this is true for many cases, oftentimes, car accident lawsuit funding can offer lower rates than a standard loan and certainly that of a credit card. You may also hear that if you lose your case you still have to pay back the company that provided funding. There are many lawsuit funding companies that offer non-recourse funding. This type of funding means if you don’t receive monetary compensation from your case, you don’t pay back the loan.

Consider the following: If you are involved in a car accident, can’t pay bills, need your car fixed and can’t provide for yourself or your family, where do you turn. If you have bad credit or no credit a bank or a credit company probably won’t advance you a personal loan. Even if they do, certainly the loan won’t be that of non-recourse funding and oftentimes money is loaned at a much higher rate than a lawsuit cash advance.

There is no question that if you are in the financial position to where you don’t need a cash advance, its better to opt out. However if you are struggling to pay your bills or put food on your plate, certainly lawsuit funding for a car accident is a viable option.

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14 Responses

  1. […] counsel to help recoup expenses related to the accident. The victim also has the right to seek car accident lawsuit funding. When someone is injured as a result of a car accident they may seek a cash advance to help pay for […]

  2. I am searching for lawsuit funding for a car accident I had in Detroit Michigan. I was told by a friend of mine that some companies can only provide lawsuit funding in certain states. I am trying to locate a company near me because I can’t really get to places right now. I’m not sure how this process works so can you please explain and how much money do you think I could get out of this thing.

  3. Most companies can provide lawsuit funding within any state. What you are implying is for workers comp cases. Those are the type of cases in which lawsuit funding company sometimes can fund depending upon the state. For a car accident, any company should be able to provide a cash advance in almost any state.

  4. I was involved in a car accident several weeks ago. My attorney told me that there was a good chance that I wouldn’t be going to court for the accident because these cases typically settle before making it to court. I am also interested in getting some sort of lawsuit funding if the case goes any further out. How long does it typically take to get lawsuit funding? I think it probably would be much quicker because car accidents are so common correct?

  5. I just got approved by one of lawleafs lenders yesterday and wanted to know if anyone here has a contract that we could compare rates? I need to know before later today. I just got another approval in now that makes two from other companies I applied with. The lender that I used through lawleaf is the best one out of the 3, but I still want to see what someone else’s rate is.

    Brent- All 3 companies came back pretty quickly with an offer.

  6. I am searching for the same thing with another company. I haven’t applied with Lawleaf yet. The company that approved me charges astronomical rates. I contacted another company today off the internet and they told me for car accident case they could probably do a little better but not much better. I will apply with this company and I will get back to you today and I can get some sort of an approval that quickly.

  7. BetchaBu – Ok – I ended up contacting Law Leaf yesterday right after I posted this last message. I was approved but wait one second and I will explain.

    When I applied using Law Leaf I also applied to 2 other companies one I think was called some Legal Funding group or funding max and some company I think it was called osis, I’m not real sure. In any event one company through an email exchange told me they could be a little better than my first quote. the other company told me they could be a lot better but the way they set-up their fees actually came out to look better on the front side but horrible on the back end. I didn’t apply with the first and the second company got back pretty quickly and did give me an approval.

    Back to Law Leaf. I ended up emailing them through their contact form outlining my payment schedule and the lender that provided me the payment schedule along with the few lenders I contacted. I got back an email stating they were looking. I got an email back almost immediately stating they’ve located a lender that could beat that rate and within the hour the lender called. They also said that for car accidents their lenders tend to give the best rates etc. etc. blah blah. When I got the contract back it was not even a question that they were much better the other companies, it wasn’t even close. Its like these lenders were all looking at a different case.

    I sent the contract over to my attorney today. I just don’t think I’m going to get a better deal and I too need the money. I hope that helps and good luck with your search.

  8. If I got into a car accident and I don’t have an attorney is it still possible that a lawsuit funding company would give me a loan?

  9. In order to qualify for lawsuit funding for any personal injury case two things must be in place: You must be represented by a lawyer and a personal injury claim must be filed. Without either of these two in place you will be denied lawsuit funding by every company you apply with. If you have both in place you still may not qualify if the company decides that your case is not with funding. It is true though car accident cases are probably the best personal injury cases to fund. I am an independent litigation finance broker and my best cases are car accident cases.

  10. Hi I went through the Law Leaf company and was approved. The problem that I have right now is whether they can do it twice if I need more. I contacted them and they said that I should do a line of credit in case I need more but than I have to go through it again and not sure if I should risk it. Can you tell me if I need to do it twice because I’m not sure if I should do it again if I was already approved once?

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