Sometimes people find themselves in the unfortunate event of an auto accident. In fact, the most frequent types of accidents in the United States are auto accidents. These accidents can range anywhere from a simple fender bender, to life threatening accidents; some even cause death. Common locations of bodily injury include: back head, neck, arms, and legs. Any injury can result in numerous trips to the hospital during the recovery process. In many cases, auto accidents require individuals to take time off of work to heal injuries, while also incurring stress of increasing medical bills and other financial burdens. If you have a family or are living on your own, an auto accident can have a strong negative impact, which is felt immediately if you do not have the financial resources to cover it. If you are having trouble covering expenses due to an auto accident, then consider car accident lawsuit funding to aid you.
What is Car Accident Lawsuit Funding?
Car accident lawsuit funding is pre settlement cash given to an individual that is involved in an auto accident. A pre settlement “loan” is a term used by some in the lawsuit funding industry to describe a funding transaction.
The amount of funding received depends on the severity of the car accident. The funding can provide you with cash now to cover expenses and relieve stress. Funds provided in this manner to car accident victims are not actually “loans” at all; they are cash advances provided to car accident victims, contingent upon the outcome of their lawsuit. If you lose the case, you don’t pay the money back!
How can Car Accident Lawsuit Funding be Helpful?
In the instance of a car accident, visits to the hospital are likely and time off of work is often needed. For many people the increasing medical bills coupled with the inability to work is debilitating, both physically and financially.
Depending on the situation, auto accident lawsuits can last for an extended period of time sometimes, forever. After hiring a lawyer and filing a lawsuit, bills and other expenses will begin to mount causing unneeded stress on an individual already suffering from an auto related injury. The funding relieves the burden experienced by the victims of a car accident by providing lawsuit cash advances to cover expenses that they incur while waiting for their case to resolve. This allows for the individual to let the auto accident injury litigation play itself out, and receive the full compensation they deserve.
Auto accident lawsuit funding covers many different situations where a person is injured or a car is damaged. Some of these include:
- Hit and runs
- Drunk driving
- Driver negligence
- Distracted driving
- Police chases
Eligibility for Car Accident Lawsuit Funding
In order to find out if you’re eligible for car accident lawsuit funding, an application must be filled out. In order to apply, it is necessary to be a plaintiff in an auto injury lawsuit. It is also necessary to hire an attorney that can communicate with the third party that will be providing the lawsuit funding. Finally, it is necessary to be pursuing a lawsuit at the time of applying for funding so that it can serve its intended purpose.