Victims of car accidents have the right to pursue compensation from negligent parties that cause them injuries. The time between seeking and getting compensation is long, only made longer by insurance companies using delay tactics. Many victims fail to realize they need financial foundations while awaiting payment.
One viable option is to apply for a car accident loan in Indianapolis. Silver Dollar Financial offers pre-settlement loans to injury victims in an active lawsuit with legal representation.
Criteria for Applying for Indianapolis Car Accident Loans
Eligibility for an Indianapolis car accident loan requires an injured adult seeking compensation through a legal claim. If you are facing financial struggles, you must hurry and get the money you need. Finances can worsen a car accident’s emotional and physical toll because instead of focusing on healing, victims focus on finding ways to make money.
The requirements or information you must provide during the application process include the claim value, the expected length of your claim, attorney information, and whether it is an insurance claim or a car accident lawsuit.
Credit and employment history are irrelevant in cash advances and are only based on your injury lawsuit. When considering an offer, a car accident loan company focuses on whether you can win your case in court. The borrower takes no risk on these non-recourse loans, so it is vital that the loan company thoroughly assess the claim’s potential.
Click to contact the Silver Dollar Financial Team today or Call +1(844)871-0628
Ways You Can Spend Your Lawsuit Loan Money
Some borrowers are apprehensive about seeking Indianapolis car accident loans because they believe there are stipulations for spending the money. When you receive your funds, you can spend the money in any way you want. Unlike other loans, a pre-settlement loan is a cash advance from the money you would get in the future.
When you receive your final settlement, you do not have restrictions on how you can spend the money, and the same is true for lawsuit loans. Losses will vary by individual, and therefore borrowers will have different uses for the money.
Our borrowers often use the money on expenses like rental cars, hospital bills, medical expenses, car payments, groceries, utilities, etc. You can use the money to pay for car insurance, repair your car, use the internet, and other daily essentials.
While no one is monitoring your money, you should use it wisely because you do not know how long your case will take. A common mistake is borrowers overspending and ending up in a similar predicament as before the loan. Use the money to get caught up and budget the remaining accordingly.
Paying Back Your Car Accident Loan Is Easy
Another aspect of Indianapolis car accident loans is the repayment process. It is a simple process that involves very little from the borrower.
You will have the repayment process outlined in the contract stipulating that you only repay the advance when you win your case. You are off the hook for replying if your attorney does not garner a successful result.
If you have any questions regarding repayment and what happens if your settlement is lower than expected, you can review your loan agreement or speak to your account representative.
How Much You Get Varies
Pre-settlement loans are tailor-made to the borrower and their circumstances. You can revise your estimated claim payout. The insurance company, judge, or jury is responsible for the final settlement amount, but the attorney can evaluate your case’s worth in many ways.
The insurance company that issues your payment represents the opposing party, and they are unlikely to offer what you deserve, so you cannot get an advance on the entire amount. Your car accident loan company will review your case merit and how long the loan will be outstanding, among many other factors, when determining the amount they can offer.
Apply Now for Pre-Settlement Funding
Interest Rates Incur
When you seek a private loan, the bank will work on high compound interest and require you to begin paying immediately. However, pre-settlement loans are simple to interpret and non-recourse, so you will know how much you must pay back, including interest, within your loan contract.
Most loans are considered a six-month minimum interest rate but can extend for a year or more. If your claim is settled before the estimated timeline, your interest rates might be less, but you must address these potential outcomes with Silver Dollar Financial.
Advantages for Borrowers
Borrowers have many advantages when they take out a lawsuit loan. One advantage is you can get the cash advance the same day or within 24 hours of approval, which is vital because you need money fast if you seek reprieve from your financial situation. Hours can make a difference for accident victims.
Another advantage is you have zero risks because these are non-recourse loans, but they operate as cash advances. You do not have monthly payments and only pay them back when your case is resolved.
Using your credit score to determine your loan is unfair. There is no credit check because many victims will have negative marks on their credit from the impact of the car accident. Even if you had good credit before the car accident, it has likely decreased due to unpaid bills or late payments, therefore there are no employment checks when applying for Indianapolis car accident loans.
Legal Funding Goes a Long Way
Plaintiff legal funding has saved hundreds of people money and gotten them bigger payouts since the insurance company’s delay tactics do not work. Indiana is the 16th largest state in the country, and with a larger population, that also means there is a higher probability of being in a car accident. Not everyone has the means or the financial footing to pay living expenses and medical bills when waiting for car accident lawsuit compensation.
Contact Silver Dollar Financial for a pre-settlement loan. You can apply within a few minutes and receive an answer within hours or days. Once approved, your money will be in your bank account within the same or the next business day.