You may get hurt in an accident due to a property owner, driver, or someone else who acted negligently. Even though you may believe you are 100% responsible for your accident-related losses, this is not always the case. You may be able to seek compensation through a personal injury claim with a lawsuit loan lawyer — and get a lawsuit loan to help you cover your costs until your claim is resolved.
At Silver Dollar Financial, we understand all aspects of Colorado pre-settlement funding. We can discuss our legal funding options with you and help you decide if now is the right time to request a lawsuit loan. To get started, reach out to us.
Colorado Personal Injury Claim
There is a two-year statute of limitations for an injury claim, per Colorado Revised Statutes (CRS) §13-80-102. If you suffer an injury due to another party’s negligence, you may have up to two years to seek damages. You may ignore this opportunity — and if you do, you may be forced to pay all of your injury-related costs out of your own pocket.
Just because you ask for compensation in an injury claim does not mean you will get compensation. You are responsible for the burden of proof. If you do not provide sufficient evidence to prove negligence, a judge or jury may rule in the defendant’s favor.
To show negligence, you must verify an at-fault party had a legal obligation to avoid reckless and careless acts. Also, you must confirm the party violated this obligation, which caused you to get hurt. Finally, you must highlight how the party’s actions resulted in quantifiable or subjective losses.
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How to Get Compensation in a Personal Injury Case
You may receive damages through an at-fault party’s insurer. For example, auto insurance is mandatory for all drivers in Colorado. If a negligent driver crashes their vehicle into yours and you suffer an injury, this motorist’s insurance provider may cover your losses.
When you file an insurance claim relating to a personal injury, an insurer may be more focused on the best interests of its clients over yours. The insurance company may commit time and resources to find ways to discredit your case. If they succeed, they may not have to pay anything, in spite of the fact that their client caused your injury.
You may have to hire a personal injury lawyer to help you get compensation. The attorney may work with you to prepare a compelling argument that makes it clear to a judge or jury you are in no way responsible for your injury. In addition, they may be able to help you secure a legal loan.
How a Pre-Settlement Loan Works
If you get a personal injury lawsuit loan, you receive money you are able to use however you choose. This funding option is similar to a personal loan. Yet, there are several differences between the two.
A bank or credit union may offer you a personal loan after you complete a lengthy application process. If you accept a loan quote, you are required to comply with your lender’s terms and conditions. Failure to pay your loan back in accordance with these may result in penalties.
With a lawsuit loan, you may get approved in as little as 24 hours. A legal funding company looks exclusively at your case and your projected settlement amount to determine how much money it can offer. If you move forward with a legal loan, you do not have to pay it back unless you win or settle your case.
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Pre-Settlement Funding Benefits
A pre-settlement loan tends to be a safe option in comparison to funding offered by banks and credit unions. The loan is contingent on your personal injury case. On top of that, your lawsuit funding company takes all of the risk — and if you do not receive compensation, you are under no obligation to repay your loan.
You may qualify for a legal loan even if you have a low credit score or are dealing with financial hardships. There is no need to share your credit score or financial history as part of the lawsuit funding application process. Instead, a pre-settlement funding company looks at the facts surrounding your case to decide what it can provide.
The team at Silver Dollar Financial can walk you through our legal funding options. We offer flexible loans to plaintiffs involved in car accident claims who have car accident loan lawyers representing them, as well as plaintiffs in other types of injury cases. To learn more, get in touch with us.
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Legal Funding Application Process
Before you start your legal funding application, you will need to hire an attorney. The benefits of having a lawyer at your side are twofold. Your lawyer can represent you throughout your case, and they can handle communications with your pre-settlement funding company.
You may only need a few minutes to apply for a lawsuit loan. The application process may be completed over the phone or online. Once you fill out your application, you can submit it and receive a personalized quote.
A legal funding quote will explain how much money you can receive and your loan’s interest rate. If you approve this quote, your lawsuit loan company will send you money. Your lawyer will continue to update the business about your case and focus on helping you get the most compensation possible.
Lawsuit Loan Repayment
A legal loan is a form of non-recourse funding. Rather than making monthly payments on your pre-settlement loan, you do not pay it back until your personal injury case closes. At this point, you are required to pay back your loan only if you receive compensation.
If you get damages and previously received a lawsuit loan, your attorney handles the repayment process. Your lawyer deducts what you owe for your loan from your compensation. They send a payment to your legal funding company, and you get the remaining damages.
In a case where you do not get any compensation, your attorney still helps you out. They will notify your pre-settlement funding company about the result of your case. The business clears your loan balance, and you keep the full amount of your loan.
Request Pre-Settlement Funding in Colorado
Silver Dollar Financial offers legal funding ahead of your estimated settlement. Our team is available to review your case and answer any questions you have about legal funding. For more information, contact us today.
Call or text +1(844)871-0628 or Apply Now for Pre-Settlement Funding