If you are involved in a car accident in Fresno, California, the costs can be significant. You can face medical bills, car repair expenses, and many others, even if you are not responsible for your accident. In this scenario, it can be beneficial to request a car accident loan in Fresno.
Silver Dollar Financial is a Fresno car accident loan provider that takes care of our clients. To learn more about our auto accident loans in Fresno, reach out to us. We can help you get car accident pre-settlement funding to help you cover your daily expenses until your litigation is settled.
What to Do If You Are Involved in a Car Accident in Fresno
There were 282 million registered vehicles in the United States in 2021, according to the National Safety Council. Many motorists take precautions when they travel in Fresno and other U.S. cities and towns. Regardless, car accidents happen every day, and they affect motorists and pedestrians alike.
If you get into a Fresno car accident caused by someone else, try to remain calm. Call 911 to report the accident and get help. Medical professionals will arrive to treat anyone who was injured, and police officers can collect information to put together an accident report.
Following your auto accident, consult with an attorney. This allows you to review your auto accident with a lawyer and find out if you are eligible to request damages as part of a personal injury claim. If you decide to move forward with a personal injury lawsuit, your attorney can help you request pre-settlement funding as well.
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When You Are Eligible for Fresno Car Accident Pre-Settlement Funding
To get auto accident pre-settlement funding in Fresno, you must file a lawsuit against an at-fault party. A pre-settlement funding company requires you to provide information about your auto accident lawsuit. The projected settlement amount is used to calculate how much you can get as part of a car accident loan.
In addition, you must hire an attorney. As you move through the lawsuit loan process, your lawyer acts as a liaison between you and your pre-settlement funding company. Your attorney keeps your pre-settlement funding company up to date on your case and lets them know when it has been resolved.
Silver Dollar Financial is a pre-settlement funding company in Fresno with many years of experience. If you are considering a pre-settlement loan after a Fresno car accident, let us know. We can guide you through our auto accident pre-settlement funding options.
How Fresno Car Accident Loans Are Structured
You may believe a car accident loan works the same way as any other loan. However, it is important to note that an auto accident loan is structured differently from other types of loans. To understand the structure of car accident pre-settlement funding, it helps to compare it against a personal loan.
A bank or credit union can offer a personal loan with various terms and conditions. To receive this loan, you need to fill out an application and undergo an extensive screening process. If your request is approved, you must repay your loan within a designated time frame.
Comparatively, a pre-settlement funding company offers auto accident loans to individuals in the middle of a personal injury lawsuit. You only need to complete a brief application to obtain a pre-settlement loan, with no credit check or income verification required. Once you receive your pre-settlement funding, you are only required to pay it back if you lose your auto accident case.
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Why Paying Back a Fresno Car Accident Loan Is Based on the Result of Your Case
A pre-settlement loan is non-recourse and, as such, is contingent on your case result. If you take out a lawsuit loan following an auto accident, a pre-settlement funding company gives you money with the expectation that you will win or settle your case. Therefore, the lawsuit loan company takes 100% of the risk since there is no telling whether your case will be successful.
You can do everything in your power to win or settle your car accident case but still not achieve your desired result. If you receive a lawsuit loan but lose your car accident case, your pre-settlement funding company is responsible for your loan balance. This means you are under no obligation to pay back your pre-settlement funding if you lose your case.
Of course, if you win or settle your car accident case, you will get a settlement. At this point, your pre-settlement funding company will need to be paid for the loan they gave you. Fortunately, your attorney can handle the pre-settlement funding repayment process on your behalf.
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What It Takes to Pay a Fresno Auto Accident Loan in Full
If you move through the legal process and win or settle your auto accident case, you will receive a settlement. Before you get the money the defendant is required to pay, your lawyer deducts the amount you owe your lawsuit loan company from your settlement. Next, your attorney sends a check for this amount to your pre-settlement funding company to cover your balance.
After your lawsuit loan company gets your payment for pre-settlement funding, you are in the clear. Your lawyer will send you a check for the rest of your settlement. You can cash this check and use the money from your case however you decide.
If you have concerns or questions about what it takes to pay back a pre-settlement loan, it helps to consult with a lawsuit loan company. You can speak to a pre-settlement funding specialist that will take as much time as needed to address your concerns or questions. If you feel good about auto accident pre-settlement funding, you can submit a request for a lawsuit loan.
Take the First Step to Get an Auto Accident Loan in Fresno
Silver Dollar Financial makes it as simple as possible to request a pre-settlement loan after a car accident in Fresno. Please contact us today to explore all of our pre-settlement funding options for auto accidents.
Call or text +1(844)871-0628 or Apply Now for Pre-Settlement Funding