The Sunshine State has a lot of tourists and a lot of accidents. Suffering from a car accident is bad enough, but victims can be shocked by how much a car accident costs. It can destroy your finances without the help of a settlement, and even before then.
Before you take a lower settlement offer to get your creditors off your back, reach out to High Rise Financial. We can provide a car accident loan in Florida that can keep them away while your lawyer works to get you the full value of your case.
In This Article
How Do Your Car Accident Loans Work?
It’s quite simple. Our Florida car accident loans are a form of pre-settlement financing. We pay you a portion of your future settlement in advance to help you cover your costs, and you pay us back when your case settles.
These loans are designed so that we can only get paid back through your settlement. We cannot touch any other income or assets you own. This makes them far more accessible and fair to accident victims.
It also means we’ll never ask you questions about your employment history, bank accounts, credit score, or anything else like that. We don’t even run a credit check! Our pre-settlement financing options are a risk-free option for all borrowers. All you have to do is qualify.
How Do I Qualify for a Car Accident Loan?
There are a few things you need to qualify for one of our loans. The first is to have a car accident bad enough to need compensation. Florida is a no-fault state, but your own insurer might still drag their feet about paying your PIP coverage. You might also qualify to sue the other driver depending on your injuries.
The second thing you need is a lawyer working on your case (“retained”). We need the legal opinion of your lawyer about your chances and the value of your case to decide if you qualify and how much you can receive. We cannot offer financing to people representing themselves.
Finally, your lawyer has to agree to allow pre-settlement financing. Unfortunately, without their permission, we cannot extend financing. If this is the case, we’ll tell you so. You may be able to convince your lawyer to change their mind.
How Do I Pay You Back?
This is another advantage to High Rise Financial’s car accident loans in Florida. Your lawyer will handle paying us back through your settlement in one lump sum. You do not have to worry about us calling you for payments or getting bills in your mailbox.
After your lawyer receives the settlement funds, they will take out their fees and pay us back, then forward the rest to you as normal. Since we only use simple interest loans, it’s easy to calculate how much interest you’ll need to pay back.
Also, we structure our loans so that your lawyer, yourself, and our firm get paid back fairly. We only offer a portion of your entire settlement in our offers. This ensures you get a big payout at the end of your case and gives you some flexibility to ask for another loan if your case takes too long.
What Can I Spend the Money on?
Your pre-settlement financing is exactly like receiving a cash advance on your settlement early. You can spend it on anything you like. Most people come to us because they need money for medical treatment or because they can’t work because of their injuries.
The wisest use is to remove the financial pressure that may force you to take an early settlement. The longer your lawyer has time to work on your case, the better their case will become. If you and your attorney agree you deserve more than the insurance company offered you, our loans can provide you with time to fight for it.
You do not have to worry about tax consequences for receiving this. Settlement money is not taxed by the IRS unless you use it for investment. For full details about this, speak with a qualified CPA.
Begin Your Car Accident Loan Application Now
Are you ready to see how much you could get early from your settlement? Get your application started by calling High Rise Financial or reaching out to us online. Once we get approval, you can have the funds from your Florida car accident loan in your account in 24 hours.