If you are involved in a car accident in Hempstead Town, NY that occurs due to someone else’s negligence, it is in your best interests to seek compensation from the at-fault party. Of course, doing so can be tricky, since you still have to pay the costs associated with your crash until you get a settlement. Fortunately, New York legal funding is available — and it can help you cover your expenses for the time being.
At Silver Dollar Financial, we can teach you everything you need to know about Hempstead Town car accident loans. Our team can look at your auto crash case and go over our legal funding options with you. To get started, please reach out to us.
What to Do After an Auto Accident in Hempstead Town
As soon as your car crash happens, make sure that you and anyone else involved in it are OK. Call 911, and medical personnel and police officers will come to the accident scene. They will treat you and collect information that can be used to prepare an accident report.
In the days after your crash, it is beneficial to consult with a car accident lawyer. New York has a three-year statute of limitations for personal injury claims. If you were injured in a car accident caused by a negligent driver, an attorney can help you request compensation from this motorist.
Even if you move forward with a personal injury lawsuit, you may have financial concerns relating to your accident. Thankfully, your lawyer can help you get a lawsuit loan. When they do, you can get the funding you need to pay your bills over the course of your litigation — without having to worry about the problems that can come up if you get a personal loan.
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How Hempstead Town Car Accident Pre-Settlement Funding Stacks Up Against a Personal Loan
If you request a personal installment loan, you can receive money that you can use for the duration of your auto accident litigation. Typically, you will need to provide your credit and income histories to a bank or credit union. Next, a bank or credit union can give you a loan quote.
When you receive a personal loan, you are responsible for paying it back, no matter what happens in your car crash case. If you do not get money in your lawsuit, you are still accountable for your loan. On top of that, your lender can penalize you if you cannot repay your loan on time.
With a personal injury lawsuit loan, you can get money based on your projected case settlement. In addition, you are not responsible for paying back your legal funding if you do not get a settlement. If the worst-case scenario happens and you are not awarded any damages, you keep the money from your pre-settlement loan without any penalties.
How the Auto Accident Loan Application Process Works
The process to obtain a car crash loan is fast and simple. If you have a best-in-class lawsuit loan company at your side, you can get approved for pre-settlement funding in 24 hours. Here are the steps that you will need to complete to receive a pre-settlement loan quote:
- Fill out your application. You can submit your application online or over the phone, and it generally takes just a few minutes to do so.
- Get your quote. A lawsuit funding company will review your request and give you a custom quote.
- Finalize your request. If you accept a legal funding quote, you can get your funding and start using it however you choose.
There is no fee to submit a pre-settlement funding application, regardless of whether you accept a loan quote. Also, you can consult with a lawsuit loan company as you complete your application. That way, you can get the insights you need to determine if now is the right time to request legal funding.
Requirements for Legal Funding in Hempstead Town
Unlike a personal loan request, you do not need to share information about your credit or income when you apply for pre-settlement funding. A lawsuit loan company will ask you questions about your case. The business uses this information to decide how much money it can offer.
You are required to have an attorney to represent you before you can apply for lawsuit funding. During your litigation, your lawyer will stay in contact with your lawsuit loan company and provide updates about your case. If you get a settlement at the end of your case, your lawyer will pay back your loan for you.
Learn as much as you can about legal funding before you finalize your pre-settlement loan request. At Silver Dollar Financial, we can explain what is pre-settlement funding and answer any lawsuit loan questions that you have. To find out more, please get in touch with us.
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How to Decide if a Car Accident Loan Is Right for You
It helps to consider all of the funding options available to you. As you weigh the pros and cons of different options for funding, it may become clear that a car accident loan is the best one. Ultimately, there are many reasons why people choose auto accident loans over other funding options, such as:
- Flexible Loan Options: You can get anywhere from $1,000 to $100,000 with an auto crash loan.
- Fast Approval: While a bank or credit union may need several days or weeks to review and approve a personal loan request, a legal funding company will respond to your application within one day.
- Competitive Interest Rate: Legal funding comes with a simple interest rate, so you know exactly how much money you owe at any point after you get your loan.
- Contingent on Your Case: If you do not get any money as part of your auto accident lawsuit, you do not have to pay back your pre-settlement loan.
Silver Dollar Financial makes it easy to get a car accident loan in Hempstead Town. Our team is available to learn about your case and provide you with a pre-settlement funding option that lines up with your expectations. For more information, please contact us today.