After an auto collision, a car accident loan can help you pay for immediate medical expenses and get back on your feet. Pre-settlement legal funding is a type of financing that carries no risk to the borrower. It can get you early access to your settlement money and ultimately help you fight for its full value.
With legal funding, you can avoid many of the financial pressures that could force you to accept a lower settlement. A car accident loan is easy to obtain, especially if you’re already involved in a lawsuit. Find out if this is the right option for you to get the money you deserve from your accident.
What Is a Car Accident Loan?
One of the most common forms of personal injury lawsuits is a car accident claim. While most settle long before seeing the inside of a courtroom, that doesn’t mean the case resolves quickly. You might end up waiting months or even years before you receive the money you are owed from the driver, government entity, trucking company, or other at-fault party from your accident.
A car accident loan is a way to dip into your future compensation package to pay for your present expenses. A legal funding company can take a look at the facts of your case and estimate the size of your settlement. They can then lend you a portion of this amount, to be repaid later, but only if you win your case.
Is a Car Accident Loan Actually a Loan?
A car accident loan is a type of loan, but it’s a different kind than what you’re probably used to. This money is available to you at no risk to your own finances since it’s considered a non-recourse loan. This means that with your car accident loan, you technically have no obligation to repay it with your own money.
Your settlement is used as collateral for your car accident loan, which means if you lose your case, you repay nothing. This means you can safely take out legal funding for your expected settlement at no risk to your own finances. In the case of recourse debt, you would still owe whatever you charged on your credit card or took out from a recourse personal loan if you lost.
Lawsuit Funding Can Help You Win a Larger Settlement
Money in your bank account from a car accident loan can help you win a larger settlement by relieving financial pressure. Many at-fault drivers, insurance companies, and opposing lawyers will try to stall proceedings as long as possible. They know that you likely have bills to pay, such as:
- Medical costs
- Repairs or replacement for your damaged vehicle and property
- Wages lost due to missed work
- Rent and mortgage payments
- Utility bills
- Other daily expenses, like food or gas
Getting pre-settlement funding means that you can outlast these pressure tactics that can force you to settle for less than you deserve.
How to Qualify for a Car Accident Loan
It’s easier to qualify for a car accident loan than you might think. There are just a few conditions you need to meet to obtain legal funding for your case:
- You must be at least 18 years old
- You must have a pending settlement or be ready to file a lawsuit
- You must be represented by a contingency-based lawyer
- The defending party must be insured
Once you fulfill the above criteria, it’s likely that you qualify for legal funding. There’s no credit check to receive a pre-settlement car accident loan since your credit and personal finances won’t be used to repay the loan. All that matters when it comes to getting funding is the quality of your case.
How to Apply for Car Accident Loans
If you are in the middle of a car accident lawsuit, you likely qualify for a cash advance from Tribeca Lawsuit Loans. Here’s how the process works.
- You apply: Head over to our Apply Now page and provide us information about your case, including the expected compensation you’ll receive, the expected duration of your lawsuit, and contact information for your attorney or law firm.
- We evaluate: Our team will go over this data and evaluate how much we can provide for your situation. We’ve helped clients by loaning out anywhere from $500 to $1,000,000 in the past.
- You get your money: The funds will be given to you as quickly as possible after you are approved and all paperwork is signed. In some cases, you can have the money in as little as a single day!
Since lawsuit loans are non-recourse, you are never held personally liable for the debt. If you lose your case, you don’t pay us back at all.
Don’t Wait – Reach Out to Tribeca Lawsuit Loans Today!
At Tribeca Lawsuit Loans, we can offer you up to $1 million in legal funding that you can receive in your bank account within 24 hours of your approval. Our application takes just minutes to complete and doesn’t require a credit check or any evaluation of your personal assets. We’ve disbursed over $45 million to our clients and have the financial resources to assist you.
For any questions or concerns regarding car accident loans, contact us, and we can answer them with a live team member. We value our relationships with our clients and are always there to help them fight for the full measure of justice they deserve. Get in touch with us today and you could receive the funding you need to take your fight for justice to the next level.