Auto Accident Lawsuit Loans
Auto Accident Lawsuit Loans – Have you recently been involved in an auto accident that has left you with injuries through no fault of your own? If you and your attorney are in the process of working through your personal injury case and you need money, you may want to consider our lawsuit loans. A lawsuit loan allows you the flexibility to borrow against the settlement that you expect to receive in the future..
If you are looking for more information on the process of obtaining a lawsuit loan, then this article was curated just for you. We will briefly go over lawsuit loans and who you can contact to start the process today.
Pre Settlement Lawsuit Loans Qualifications
Not all cases will qualify for lawsuit loans due to the nature of each case. Lenders want to make sure that you and your lawyer are confident that the case will go in your favor. When you apply for case litigation funding, the lender will first want to reach out to your car accident lawyer to gather the information they need to decide if you qualify for the loan.
This process will take some time, and it requires cooperation from your auto accident lawyer. You will need to be the liaison between the lender and your attorney to make sure the lender receives all the documentation they need.
Best Lawsuit Loan Lenders for Auto Accident Lawsuit Loans
It is best to shop around when you are looking for the best auto accident loans for your case. Once you have found the lender you want to work with, there are a few questions that you should ask them before you start the process.
Questions you should ask your lender:
- What are your interest rates?
- Are there any application fees?
- How often is the interest compounded?
It is important to note that interest rates are also called “funding fees.” If you see funding fees on your paperwork, keep in mind that it is the same as the interest rate. It is extremely important that you ask your lender how often the interest is compounded.
Some lenders compound monthly, and others do it more often, leaving you with a higher bill at the end of your case. When reviewing your contract before signing, make sure that you will not pay more than your settlement amount.
Keep in mind that applying for a loan or requesting more information about the terms and conditions of a loan does not obligate you to make any commitments. If you find that the lender you want to work with is dragging their feet or is dodging your questions and concerns, it may be time to move on to a different lender.
Car Accident Lawsuit Loans Regulations
Lawsuit loans do not have any state or federal regulations like the loans from credit unions or storefront finance companies have. There are restrictions on how much lawsuit loan companies charge for their services. They also have specific requirements for how they calculate interest rates and other terms and conditions. Ensure to do your research to make sure you do not fall victim to predatory lending.
Alternative Auto Crash Loans Options
If you are able to hold off on obtaining lawsuit loans, it may be in your best interest in the long run. You may want to look into receiving funding from friends or family if they are a viable option. There are other resources such as disability payments or insurance proceeds that may work best for you.
If you have a great relationship with your credit union or other neighborhood banks, you can also try to reach out to them for a loan. These options may save you paying less money over time instead of obtaining a lawsuit loan.
Lawsuit Loans Pros and Cons
Auto accident loans are great for you to obtain while you await the result of your settlement. Although there are many excellent pros for lawsuit loans, it is always important to consider the cons as well.
Lawsuit Loan Pros
If you lose your personal injury case, you do not have to pay back your loan. Even the most promising personal injury case can result not in your favor due to a final verdict reached by the jury or the judge. Lawsuit loan lenders will not punish you for losing your case our loans are no risk. If you lose your case you owe nothing.
Bad Credit Scores Are Ok and There is No Credit Check
Most lenders look into your credit history before extending a loan, but not lawsuit loan lenders. Lawsuit loans are not concerned with your credit score.
Accepting What You Deserve
Lawsuits are generally a long and tedious process that leads to many clients looking to settle to get it over with. Most insurance companies like to deploy a tactic of dragging on the settlement to force you into submission.
Giving in to the insurance company leaves you accepting a settlement that could possibly be less than what your attorney can fight for. If you decide to settle on your case just to move on, you may lose out on the money that you deserve.
Peace of Mind
No one likes to worry about paying medical bills or other necessities needed to sustain your day-to-day life. Auto accident loans allow you the peace of mind of knowing that your bills are covered.
There is no need to stress over those bills while you are trying to recover from your car wreck injury. These types of loans also allow you to be put at ease while your auto accident attorney properly litigates your case.
Auto Accident Lawsuit Loans – the Cons
Lawsuit loans tend to have higher than average interest rates. As mentioned earlier, it is crucial to speak with your lender about the interest rates to see if there is any way to lower the percentage calculated for your loan.
Lending Restrictions
Lawsuit lenders will only lend to clients when they know that they have a strong case. In order for lawsuit lenders to receive their money back, you have to win your case.
If you have a case where there is a percentage of fault on your end, you may not be able to receive a lawsuit loan. It is vital to reach out to your attorney about obtaining a lawsuit loan. Your attorney can evaluate your case and advise on the likelihood of your case winning.
Truck Accident Loan
If you suffered injuries due to a truck accident, you too could apply for car accident loans. When dealing with a truck accident case, it can take months, if not years, to come to a settlement agreement. This extensive timeline can significantly affect your household income, especially if you are out of work during this time.
Truck accident lawsuit loans are great alternatives in cases where you have to wait for a verdict. Truck accident cases aren’t as simple as average car accidents.
There are several different party’s involved that your attorney is reaching out to on your behalf to get the best settlement amount for you. It is always best to consult your truck accident attorney to see if your case has a high chance of winning.
How to Use Your Automobile Accident Lawsuit Loans
Regardless of whether you were involved in an accident with another vehicle or a truck, you can utilize your loan for the same reasons. Most clients use their loans to cover any medical expenses or other damages associated with the accident.
Rent Payments
Your injuries may impede your ability to work to pay for your rent or mortgage. There are other utilities and bills that you will need to pay in order to keep your household afloat.
Lawsuit loans are excellent buffers while you wait for the completion of your case. You should not have to worry about losing your home because of your auto accident.
Tuition and School Fees
If you are a college student or pay for someone else’s tuition, you might have to pause making those payments. You can utilize your lawsuit loan to pay for school tuition fees. There is no need to put your education on hold because of the negligence of another driver.
Apply for our Auto Accident Lawsuit Loans Today!
Lawsuit loans have a vast amount of benefits that are sure to keep you afloat while you await the final result of your case. There is no need to put your life on hold because of the negligence of another driver. Auto accidents are notorious for taking months, if not years, to settle, and insurance companies know that you are vulnerable.
Instead of settling for an amount less than you deserve, obtain a lawsuit loan to take care of yourself and your family. If you are interested in learning more about our rates and the options available to you, contact us now. We offer a free, no-obligation quote that only takes 30 seconds to evaluate!
To fill out our FREE 30 second application simply – CLICK HERE
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