Car accidents are among the leading causes of physical injuries, hospitalizations, and deaths in the United States. According to statistics, there are about 6 million car accidents in the U.S. yearly. If you were injured in a car accident caused by another person’s reckless actions, you may be entitled to seek financial compensation by filing a personal injury claim or lawsuit.
However, it can take months or even years to obtain your settlement. Moreover, only a few people can wait that long for their award. Likewise, the financial pressures you’ll face can impact your ability to get compensation from the at-fault party. While the legal process is ongoing, you may be eligible to apply for a car accident lawsuit loan to cover medical bills, settle debts and everyday living expenses, and achieve financial relief from the financial burden.
At High Rise Financial, we can help you get the legal funding and car accident loan you need fast to fight for the full value of your settlement. Our settlement loans are risk-free and non-recourse. No credit checks or income validation is required when you apply. Also, if you lose your car accident case, you won’t need to repay anything.
- What Is a Car Accident Loan?
- States We Serve
- How does Legal Funding for a Car Accident Work?
- How Can I Use Legal Funding?
- How Much You Could Get from an Accident Lawsuit
- Should I Apply for a Pre-Settlement Car Accident Loan?
- What Are the Advantages of Car Accident Loans?
- Who Is Eligible for a Car Accident Loan?
- How to Apply for Legal Funding
- Apply for Free With Us Today
What Is a Car Accident Loan?
A car accident loan is a type of legal funding available to individuals who have been involved in an auto collision. A car accident loan is quite different from a traditional bank loan. Instead, it’s a payout you can receive now based on the potential value of your settlement.
Vehicle collisions are expensive and leave auto accident victims with bills they need to pay off now. The settlement is supposed to provide this money, but it can take weeks, months, or even years for victims to receive this money.
During this time, you may be facing financial distress, and you could be pressured into accepting a lower payout. Thankfully, an auto accident loan gets you money now to pay medical bills and cover some of those expenses. Thus, giving you the much-needed financial assistance and ability to fight for your full settlement.
States We Serve
Here is a list of states that High Rise Financial serves:
- Pennsylvania car accident loans
- Oregon car accident loans
- North Dakota car accident loans
- New Jersey car accident loans
- New Hampshire car accident loans
- Montana car accident loans
- Mississippi car accident loans
- Idaho car accident loans
- Hawaii car accident loans
- Michigan car accident loans
- Iowa car accident loans
- Florida car accident loans
- Georgia car accident loans
- Ohio car accident loans
- Wisconsin car accident loans
How does Legal Funding for a Car Accident Work?
After an accident, you’ll need cash to pay for expenses related to the crash and to potentially cover your lost wages. Even though your potential settlement will cover these expenses. However, it could take months or years for you to get that money. Instead of waiting, you could accept pre-settlement funding now and avoid the financial strain and stress of waiting for a payout.
Unlike a traditional bank loan, legal funding for car accidents includes a flat fee with no interest. In addition, the application and approval process is fast and simple. Even better, the cash advance is non-recourse, which means that if you lose your lawsuit and don’t receive any compensation, you don’t have to pay back anything.
What’s more, the IRS classifies legal funding as a form of non-recourse debt. Your potential settlement, not your personal assets, serves as collateral for the funding. Hence, regardless of the outcome of your motor vehicle accident case, you will not have any personal debt obligation and it won’t affect your credit score.
How Can I Use Legal Funding?
You can use the cash you get from your car accident legal funding in any way you wish. At High Rise Financial, we do not have any restrictions on how you choose to use or spend your money. Typically, car accident victims use their legal funding to pay off the following critical expenses:
Medical Expenses
According to statistics, about 2.2 million people are injured in car accidents in the U.S. Depending on the severity, these bodily injuries may require medical treatment, hospital visits, therapy, and so forth. In fact, you can spend several thousand dollars on severe injuries, or reset a broken bone or have minor surgery. Unfortunately, most car accident victims do not have this kind of money available after an accident to cover medical costs.
Waiting for your settlement – after filing your auto accident claim – can cause your medical debts to continue piling up. To avoid any financial problems with your doctor or hospital, you can manage those debts early with legal funding. You don’t have to make a hard choice between paying bills or getting proper medical treatment with the cash you receive.
Vehicle Repair or Replacement
Car accidents will almost always cause significant damage to your vehicle, requiring a repair or replacement. Waiting for months, or possibly even years, for a settlement to repair your car can severely impact your quality of life. With a car accident lawsuit funding, you don’t have to wait to get a replacement car or make the repairs you need. Instead, you can get them instantly and easily pay off the mechanic or dealership.
Paying for Rent, Mortgage, Utilities, and More
Critical financial obligations, such as your rent or mortgage payments, utility bill payments, daily expenses, food, and groceries, can’t be put off. A car accident may leave you with serious injuries and a lengthy recovery period, during which you are unable to work and earn money. Your settlement will be critical to rebuilding your life after an accident, but you have to win it first – and that isn’t cheap. Pre-settlement legal funding affords you comfort and financial security while you await your settlement.
How Much You Could Get from an Accident Lawsuit
If you’re suing someone for a car accident that was their fault, the size of your settlement will most likely depend on the following factors:
- The extent of your damages.
- The level of liability the other party has, as well as any fault you had in the accident.
- Your state’s laws regarding liability and damages.
- How much insurance policy or insurance coverage the other party has.
After the auto crash, your car accident attorney or law firm will file a lawsuit to help recover all the economic and non-economic damages that the at-fault party caused. However, if the other party is underinsured or if they can prove that you were partially negligent, you could receive less than you’re owed.
An experienced car accident legal counsel will be able to gather all the necessary evidence, police report, and medical records for your case. Also, they will negotiate with the other party’s lawyers and insurance company. A strong claim takes time, though, and you may need funds in the meantime.
Our agents will calculate your legal funding based on your prospective settlement. When we receive your application, we will quickly and accurately figure out how much you are approved for so that you can get the funding you need as soon as possible.
Should I Apply for a Pre-Settlement Car Accident Loan?
Even the most clear-cut motor vehicle accident lawsuits can take months or even years to resolve the accident claim. If you have pressing expenses that you need to pay as soon as possible, you may want to apply for legal funding for your car accident lawsuit. However, your accident lawyer must approve your car accident settlement loan request before you can be approved. Also, they must be willing to help you receive those funds. If your attorney doesn’t approve, you should not and cannot apply without their permission.
You also can’t get your full future settlement upfront. You should only apply if you are willing to accept our flat fee and the other caveats that come with auto accident pre-settlement funding. Though, we do not check your credit score when you apply. However, we usually only provide a fraction of your settlement in loans. Thankfully, there’s little risk in getting a pre-settlement advance from High Rise Financial. There are no hidden fees, and you have no obligation if you apply.
What Are the Advantages of Car Accident Loans?
Car accident loans carry several advantages over traditional loans for those who need money after an automobile accident, including motorcycle accidents and pedestrian accidents. With pre-settlement legal funding, you can take advantage of the following:
- No credit score or income check.
- Easy approval for higher amounts of money.
- Access to your money in 24 hours or less.
- Low interest rates.
- A simple car accident loan application and funding process.
- Clear and transparent legal funding agreement.
- No monthly payments, upfront costs, or out-of-pocket fees.
Who Is Eligible for a Car Accident Loan?
While it’s much easier to get a car accident loan than a traditional loan, not everyone will qualify for one. You must have an active auto accident lawsuit, and your lawyer must approve the legal funding for you to qualify. If they don’t approve of third-party funding for your settlement, we won’t be able to help you.
As the legal funding company will assume all the risk of your case, they’ll want to know if the defendant is at fault and insured. Depending on which state you live in, a legal funding company may still work with you if they believe you are partially at fault. However, if the defendant is uninsured, you won’t be eligible for non-recourse funding. This is because the likelihood of repayment is low.
How to Apply for Legal Funding
Traditional loans require a lengthy application process, but that’s not the case with legal funding. Since all that matters for your legal funding application is the potential value of your settlement, you can be approved much faster than you would be for a typical loan. You also won’t have to worry about your credit history or any other factors that can impact your eligibility for a loan.
You can apply for legal funding through a simple online application form on our website. All you need to do is provide us with the information we need, and we will get back to you within 24 hours. If approved, you can receive the funding you need shortly afterwards.
Our financial team works quickly to ensure that you get a response fast for personal injury lawsuit funding. We won’t waste any of your time, and we always strive to notify you of approval by the next business day. Financial matters are always time-sensitive, so we work hard to get our clients cash as fast as we can.
Apply for Free With Us Today
If you have an ongoing car accident case and you are experiencing financial instability, applying for our auto accident lawsuit loans may be right for you. The financial experts at High Rise Financial are here to help you. Contact us today to learn more about the cases we fund. Our trusted experts can enlighten you about all the legal funding options available for you and guide you through the application process.