Even minor traffic accidents in Hawaii can cause long-lasting and costly injuries. If someone else caused the collision that led to your injuries, a judge could declare them liable for your doctor bills, lost wages, and ongoing therapy costs.
Although it may be evident that the defendant’s actions are to blame for your injuries, your judgment or settlement can still be significantly delayed. Given Hawaii’s high cost of living, you can’t afford to wait months or even years for the money you are owed.
However, pre-settlement financing from High Rise Financial can get you the cash you need now. Our car accident loans in Hawaii can help you pay for current expenses before you win a settlement.
How does Car Accident Pre-Settlement Funding Work?
Pre-settlement funding is advance access to money you expect to receive at the end of your legal action. It is not a loan because the funds are paid back from the proceeds of your case. If you don’t receive a settlement, you do not have to repay the money. So, how does this arrangement work?
Auto accidents in Hawaii are often the fault of a negligent party. For example, another driver may cause a crash by taking their eyes off the road, failing to yield, or driving under the influence of drugs or alcohol. Other injured motorists have the right to seek compensation for their damages by filing a personal injury lawsuit.
Once you file your claim, your lawyer and the defendant’s attorney will initiate settlement negotiations on your behalf to avoid going to trial. If you can’t agree on a dollar amount, your case could drag on as you wait to appear before a judge.
However, if your case has merit and a high likelihood of victory, you don’t have to wait while the other side delays and attempts to force you to accept a low offer. Pre-settlement funding can equip you with immediate access to up to 20% of your claim’s value.
Hawaii Laws that Impact Your Car Accident Compensation
Each U.S. state has legislation and legal precedence that affects how courts handle future cases. There are no laws that directly address legal funding in Hawaii, making it lawful and relatively common throughout our state.
However, other laws could affect your lawsuit and your pre-settlement funding. For example:
- No-fault laws: In “no-fault” states like Hawaii, insurance companies pay for the costs of their policyholders up to the personal injury protection (PIP) limits regardless of who was at fault. Yet, if your insurance doesn’t completely cover your losses, you may be able to sue the at-fault driver for the difference.
- Minimum insurance coverage requirements: Hawaii drivers must carry insurance policies with at least $10,000 for PIP, $20,000 injury per person, $40,000 injury per accident, and $10,000 for property damages. Severe injuries from a car accident can easily result in losses over these minimum limits.
- Statute of limitations: Hawaii state code HRS §657-7 gives personal injury victims up to two years after their accident to file their lawsuit seeking compensation. No matter how solid your case, you will not be able to sue or seek pre-settlement funding if this deadline has passed.
Benefits of a Hawaii Car Accident Loan
Injuries caused by car accidents can leave victims unable to work and saddled with medical debt. As a result, it is not uncommon for plaintiffs to seek outside funding sources to pay their bills while fighting for justice.
Traditional options like bank loans, medical loans, credit cards, or loans from friends and family may sound attractive, but they are not suitable for everyone. Car accident pre-settlement funding in Hawaii through High Rise Financial is often the better alternative because it:
- Is non-recourse: Bank loans and credit cards need to be paid back no matter what, and they usually require hefty payments that only add to your monthly expenses. Legal financing is non-recourse, so we only get paid after you win a settlement.
- Doesn’t require additional collateral: Your lawsuit is the only collateral we need. The funds you receive will not be tied to any of your assets, so you aren’t risking your home or car the way you are with some bank loans.
- Doesn’t rely on personal qualification: Your pre-settlement loan eligibility depends solely on the strength of your case. Therefore, we will not ask for your private financial information or run a credit check when processing your application.
- Can fund within 24 hours: Since there is no personal qualification process, we can fund your request in a much shorter time than a traditional lender. If we can acquire all the supporting information we need regarding your lawsuit, we can get your funds to you within one business day.
- Has no surprise fees: We are completely transparent and upfront about the terms and costs involved in your pre-settlement financing arrangement. That means nothing is hidden in the fine print, and you’ll know precisely what to expect.
- Can be used for nearly any expense: Unlike medical loans, which can only be used on qualifying medical expenses, you can use our funds to pay for just about anything you choose. This includes everyday expenses like rent, childcare, groceries, or utilities.
Apply for Legal Funding From High Rise Financial Today
If you were injured in a traffic accident, a Hawaii car accident loan might be available to help ease your financial burden. All you need is a pending lawsuit, an attorney representing you on contingency, and a defendant with clear liability and the financial means to pay.
Find out how much your personal injury lawsuit could be worth by reaching out to High Rise Financial. Apply for legal funding today, and you could have the cash you need by tomorrow.