Thursday 5 October 2017

Your Questions on Car Accident Cash Advance Answered



According to the Association of Safe International Road Travel (ASIRT) there are over 37,000 auto accident casualties every year in the U.S. Over 2.35 million people are left disabled and in need of specialized medical attention. In every auto accident, there is an aspect of negligent conduct which means you have a right to file for compensatory damages in the courts. If you or a loved one has been injured in an auto accident, the financial impact can bring your family down to its knees. 

Even as you pursue the case in the courts, there are medical bills to sort and your living expenses will also have to be sorted. Car accident cash advance comes as a Godsend to plaintiffs seeking to recover damages through a lawsuit. This form of funding is not widely known and most plaintiffs have continued suffering in silence even when this legal financial reprieve is available. Below are some of the most common questions about this form of legal funding and their answers to help you make an informed choice:

1.            What is a car accident cash advance? In the simplest terms, this is a form of funding where a lender gives advances you a portion of the expected settlement form your case. This is based on an estimate provided by your lawyer and it is legally acceptable. 

2.            Is it advisable to borrow against a lawsuit? Unlike other forms of financing, you only repay the money advanced to you if you win your case. If you lose, the money is forfeited. What’s more, the amount is paid directly from the settlement amount and the account is closed. Settlement funding helps a plaintiff who is facing financial constraints to live comfortably because their case if without doubt going to take a while in the courts. 

3.            How does an auto accident loan work? If you are finding it hard to meet your financial obligations, you can talk to a legal funding represented. Your case will be reviewed thoroughly to determine how much you qualify for.  You will then sign an agreement together with your lawyer and the money is paid directly into your account.

4.            What auto accidents are covered? All auto accidents including bus and truck and accidents, hit and run, taxi accidents, ride-sharing accidents, motorcycle accidents are covered. 

If you have further questions on car accident cash advance, talk to a legal funding company today and also seek legal advice from your attorney.

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