When you’re involved in a severe car accident, especially one caused by another driver, the period that follows can be a challenge. First, you must manage your physical health and then juggle doctor visits and therapy appointments while recovering from your injuries.
You may also be building a legal case against the at-fault party and struggling to keep your bills paid amid skyrocketing expenses and a reduced income. Thankfully, you have the legal right to pursue car accident legal funding in Idaho. Apply with High Rise Financial to get fast access to cash from your lawsuit’s future settlement.
Auto Accident Legal Funding Is Not a Traditional Loan
Although sometimes called a lawsuit loan or pre-settlement advance, Idaho legal funding is different from a traditional loan. When you apply for a bank loan, underwriters will look at your credit history, bank statements, pay stubs, and assets, scrutinizing your financial status to make sure you’ll be able to pay them back.
If you manage to get bank approval for a loan, you are on the hook to pay back what you borrowed plus interest. The lender will pursue their money no matter your future circumstances, and you’ll be stuck making monthly payments even if you lose your lawsuit.
Idaho car accident lawsuit financing is unlike other funding because approval is based on your case, not your personal finances. This means you can qualify with:
- Poor credit history
- No documented income
- No assets to use as collateral
And unlike a bank loan, you do not have to make monthly payments while waiting for your case to settle. Best of all, if you fail to get a settlement, you do not have to pay us back. Once you acquire the money from us, it is yours to keep and spend however you want.
How You Can Spend Your Car Accident Legal Funding
Car accidents can be costly in more ways than one. You’ll probably need to repair or replace your vehicle if it was badly damaged in the collision. Depending on the seriousness of your injuries, you may have extensive hospital bills and therapy costs during your recovery.
As if these expenses weren’t enough, you might also have non-economic damages like pain, disfigurement, and emotional trauma because of the crash. Additionally, car accident injuries can sometimes result in temporary or permanent disability, leaving you unable to work and earn a living.
In these difficult circumstances, legal funding provides quick cash that you can use to cover nearly any expense. For example, you could use the money to pay for:
- Medical bills for your treatment
- Prescriptions and over-the-counter medications
- Rent or mortgage payments
- Childcare costs
- Legal fees
- Car repairs and gasoline
How does Lawsuit Financing Work After a Traffic Accident?
As you know, your court action is to obtain financial compensation from the person who caused your losses. Whether or not you live in Idaho, you may still be able to file your claim in this state.
While waiting the months or years it can take to receive your just compensation, you have to pay your bills and living expenses. Pre-settlement legal funding is a quick, risk-free way to acquire access to a portion of your settlement. In addition, you could qualify for legal funding if you have:
- A decisive case against the defendant, with clear evidence of fault.
- A defendant who has the financial means to pay what they owe you.
- Legal representation from an attorney who took your case on a contingency basis. This means they collect no fees from you upfront and only get paid if they win you a settlement.
- An attorney who knows about and agrees to help facilitate your funding contract. We will work closely with your lawyer throughout the process, collecting information about your case and eventually receiving a portion of your settlement from them as repayment.
With our car accident loans in Idaho, we can provide up to 20% of your lawsuit’s value, which is based on the settlement size you expect to receive. If you need more money before your case settles and you haven’t already accessed the complete 20%, or your case’s value has increased, you can apply again to receive additional funding.
Idaho Laws that Affect Your Car Accident Lawsuit and Financing
Legal financing is freely available and supported by Idaho’s state laws and courts, but some laws can impact your case’s value. Any fluctuation in your lawsuit’s value will also affect the amount of funding you can get, so you should be aware of the following during your pursuit of justice:
- Statute of limitations: If you wait too long to file your lawsuit, the defendant’s legal team will likely file a successful motion to dismiss your case and remove any possibility for legal funding. Idaho Statutes Section 5-219 allows you two years after your accident to sue for personal injury, and under Section 5-218, you have three years to sue for property damage.
- “At-fault” liability system: Idaho is an at-fault state, which means the person responsible for the accident, or their insurance company, is liable to pay for the victim’s losses. You can sue for costs related to physical injuries, lost wages, property damage, and pain and suffering.
- Modified comparative negligence rule: Under Idaho’s comparative negligence laws, you will get a reduced settlement if you are partially to blame for your losses. If you are 50% or more at fault, you are not eligible for compensation.
Choose Us As Your Idaho Car Accident Legal Funding Company
When you select a trustworthy, transparent legal funding company like High Rise Financial, we’ll work to make sure you are completely satisfied with your lawsuit financing experience. We don’t charge hidden fees, and we can get you the money you need to avoid financial disaster.
Don’t risk bankruptcy, ruined credit, overwhelming debt, or an unfairly low settlement taken out of desperation. You have options, and we are here to help. Contact us by phone or through our online form today to get started with an Idaho car accident loan application.