Each year on America's roadways, around 2.35 million people are injured in motor vehicle accidents, often leaving those injured with devastating physical problems that prevent them from being able to work or provide for their families. Motor vehicle accident pre-settlement funding is becoming more popular among injured parties, providing a financial safety net for paying bills and keeping their finances afloat while waiting for an insurance payout for their injuries. If you have been injured in a motor vehicle accident, this type of non-recourse funding provides an advance to you while you deal with the insurance company's red tape, so you can make use of needed funds now.
Motor Vehicle Accident Pre-Settlement Funding Basics
While some motor vehicle accidents are minor and the injuries suffered as a result require little or no time off from work, some are serious and leave behind injuries that require months of physical therapy, extensive surgeries, and long periods for recuperation. In cases such as these, including spinal cord injuries and brain injuries, pre-settlement funding can provide a needed source of funds for paying rent, utilities, and other bills until you are able to return to work again. An underwriter, who makes a determination of your eligibility for funding, reviews your individual case. Upon approval, your money is quickly dispatched for you to use as you see fit. When your case is settled in court or through arbitration or other means, the proceeds received are used to repay the advance given to you. If you lose your case, then you do not have to pay anything back.
Fast Pre-Settlement Motor Vehicle Accident Funding
In the aftermath of a motor vehicle accident, the at-fault party's insurance company has lawyers working hard to minimize the awards that are given to injured litigants. Insurance companies are notoriously slow at settling up with injured plaintiffs, often deliberately so, making lowball offers to improve the company's overall bottom line and brush you off with a minimal amount of cash. Some litigants get tired of waiting game and settle at the first glimpse of an offer. If you opt for pre-settlement funding you have a source of funds that you can tap into, enabling you to wait out the insurance company and get the settlement you truly deserve.
Motor Vehicle Pre-Settlement Funding Amounts
The amount of motor vehicle pre-settlement funding for which you may qualify varies widely based on the extent of your injuries, the determination of liability in your case, and the limits of the responsible party's policy, among other factors. Pre-settlement funding allows you to receive a percentage of your anticipated lawsuit proceeds available as an advance. Find out more about pre-settlement funding with Lawsuit Funder and how it can benefit you as you wait on the insurance claims process.