A serious car accident can turn your world upside down. Recovery can take a long time, and in some cases, victims never recover. If you were injured in an auto wreck, you likely have an insurance claim or personal injury suit in the works to cover your significant medical bills and property damage.
Unfortunately, the compensation process can be lengthy, and you can’t put everyday expenses on hold. With car accident loans in Kentucky from Silver Dollar Financial, you can have the money you need to make required payments while you pursue compensation from the liable party.
Do I Need a Car Accident Loan After a Collision?
When considering applying for a car accident loan, you should first decide whether or not you need one. A Kentucky car accident loan is not necessary for every situation. For instance, you might not need to take out a loan for a minor accident that only involved some damage to your vehicle but no injuries.
You may also be able to get by just fine without a loan if you have a large amount of money in savings. If you can cover your costs with your own money while you wait for a settlement, this option may be more convenient for you.
However, if neither of these scenarios matches the one in which you find yourself, a car accident loan might be your best option. You may have too many pressing bills to pay after an accident to wait around for compensation from the liable party. A car accident loan offers you the ability to cover your costs while you attempt to recover damages.
Click to contact the Silver Dollar Financial Team today or Call +1(844)871-0628
How Is Eligibility for a Car Accident Loan Determined?
Figuring out who qualifies for a car accident loan is a different process from most other types of loans. The lending company does not look at your credit history as lenders do with most other loan application types. Instead, the focus is on the likelihood you will win your case.
If the lending company feels confident in your odds, they will lend you money. However, if your case is a longshot, they will probably decline the application.
One way to significantly increase your odds, both of recovering compensation and getting a loan, is to hire a personal injury lawyer. When the lending company sees that you have a professional on your side, they are far more likely to loan you the money you need.
A Pre-Settlement Loan Will Help Cover All Expenses
You may be facing a variety of expenses as a result of an accident. A car accident loan in Kentucky can help with all these costs. In addition to helping to pay your medical bills and repair costs for property damage, a car accident loan can help make up for any lost wages by covering your everyday expenses, including:
- Rent or mortgage payments
- Car payments
Beware of Insurance Companies’ Settlement Offers
Insurance companies often try to deny or undervalue claims. They will do this in a variety of ways. One of which is to present accident victims with a settlement offer quickly after an accident, before they have a chance to consult with a lawyer. These companies know that this is when you are at your most vulnerable.
You are likely still dazed from the collision and concerned about your injuries, the cost of medical treatment, and how you will handle having to miss work. While you are in this state, the insurance company comes along and offers to give you a check. They present it as a limited-time offer and try to make you feel as if it is the best deal you are going to get.
The settlement offer might seem like a lot of money at the time, but you likely have not had the opportunity to properly evaluate your long-term costs. If you take the money, you will probably soon find that you have run out of money, but the expenses continue to pile up. By taking the money, you lose your right to pursue further compensation.
A car accident loan can be the best alternative to an offer from insurance. You can use the loan to cover your short-term costs while continuing to pursue compensation from the liable party for the full value of your claim.
Apply Now for Pre-Settlement Funding
You Can Apply for a Car Accident Loan Without Worry
When taking out a loan, one of the main concerns people have is what will happen if they can’t pay the money back. With a car accident loan in Kentucky, this is never a problem. If you do not recover compensation from the liable party, you don’t have to pay back the loan to the lending company.
Because the lending company assumes all the risk with these types of non-recourse loans, they will only approve your application if there is a strong probability that you will win your case.
Applying for a Pre-Settlement Loan Is Quick and Easy
When considering applying for a car accident loan, don’t let the application process intimidate you. There are no stacks of paperwork that need to be filled out. Instead, you simply need to provide some basic information about yourself and your case.
At Silver Dollar Financial, we will review your case and give you an answer in as few as 24 hours. If your application is approved, you could receive a loan of up to $100,000. Applying for a car accident loan is free, so don’t hesitate to get started.
Get a Kentucky Car Accident Loan Today
At Silver Dollar Financial, we believe that accident victims shouldn’t have to suffer while lawyers and insurance companies drag out the process. We have extended loans to countless car accident victims, allowing them to focus on healing from their wounds rather than financial stresses.
With a Kentucky car accident loan, we can help get you the money you need to cover your expenses while you await compensation from the liable party. Give us a call or fill out our online application for free to get started.