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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.