How long it takes for a case to settle after a serious auto accident is often a long one. The back and forth negotiations between the lawyers to resolve can take months or even years. Accident victims are left to fend for themselves financially until a settlement can be reached.
Silver Dollar Financial provides lawsuit loans to help auto accident victims when they need money for living expenses, medical bills, or even to repair their car after a crash. This type of loan is a non-recourse loan, meaning you owe nothing if your case is unsuccessful.
Borrow Money from Your Settlement Early With a Macon Car Accident Loan
Securing funding from a car accident settlement early is not the same as a typical loan. Your loan is repaid when your case is won or settled. If your case is lost, nothing is owed.
Money from legal funding is also commonly referred to as:
- A settlement cash advance
- Pre-settlement funding
- Lawsuit loans
- Non-recourse lawsuit cash advance loans
The advantages of getting a car accident loan are overwhelming. The money is available right away to help you through the difficult financial period following the accident. It does not have any impact whatsoever on your personal credit. Furthermore, there are no monthly payments, credit checks, or proof of ability to pay to qualify.
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How Much Money Can I Get With Pre-settlement Funding in Macon?
Most legal funding companies approve 10-20% of the amount of your projected settlement. So if your settlement is likely to be $50,000, you can be approved for amounts between $5,000- and $10,000. This is just an example, and plaintiffs are welcome to borrow less than the full amount approved if they wish.
The amount of your settlement will also be determined by the extent of your injuries, and the determination of liability, or who is at fault. Injuries are usually assigned a value based on:
- Type of injury
- Length of recovery
- Amount of pain involved
These factors will differ for each case. How long it will take to restore a car crash victim to the best medical condition possible can vary, even in similar accidents.
Know the Insurance Amount Carried by the Defendant
To make a ballpark estimate of the amount you can expect to get from your future settlement, it is important to know the financial limits of the defendant’s insurance policy. In many states, a minimum amount of insurance must be carried. In Georgia, the amounts are:
- Bodily Injury Liability: $25,000 per person and $50,000 per incident
- Property Damage Liability: $25,000 per incident
It’s important to note that some drivers will carry extra liability insurance. Commercial drivers of semi-trucks, fleet vehicles, and rideshare companies can carry up to $1 million in liability insurance. So, if you know the insurance policy cap, the total of medical bills owed, and who is at fault, you can get a rough idea of what your approval amount may be.
Pre-Settlement Car Accident Loan Benefits for Macon Residents
A car accident loan can create options for a personal injury victim that simply were not available before. When a case takes too long to settle, it will often force the plaintiff to settle for a much smaller insurance payout than they deserve. A plaintiff’s pile of unpaid bills and a past-due mortgage are the insurance company’s weapon of choice.
With a cash advance from a legal loan, the power of the insurance company is hindered. The insurance company will no longer be able to pressure a plaintiff by stalling because the financial stress is removed. A car accident loan buys you the necessary time to reject their ridiculously low offers.
Macon Car accident loans offer a source of cash when you need it the most. Unlike a credit card or bank loan, you won’t be saddled with another monthly payment, your credit score is not at risk, and your personal belongings will remain yours. If you don’t win your case, you don’t repay the loan. Macon car accident loans are risk-free.
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Interest Rates for Legal Funding on a Car Accident Loan
Every lawsuit loan provider charges interest. Our interest rates are clearly defined in your loan contract as non-recourse, with simple interest. We usually charge a single-digit percentage and do add any hidden fees. Any reputable lender will do the same.
The interest you pay on an auto accident loan should never be compound. Compounding interest will deplete the balance of your settlement check before it ever reaches your hands, even if you only borrow a small amount. Be cautious to avoid lenders charging up-front fees, compounding interest rates, and surprises in your loan contract.
If you need more information, we are happy to answer any questions you have without pressuring you to sign.
The Best Choice for Car Accident Loans in Georgia
We are proud to treat you the way we would want our family to be treated. Silver Dollar Financial believes in the principles of responsibility, respect, and empowerment. Our commitment is to provide a pleasant and transparent lending process and to listen to your questions.
Our founders wanted to help accident victims regain some sense of control after a life-altering incident. Our hope is to empower you to fight for the settlement you deserve and relieve the helplessness many car accident victims feel.
Apply for Legal Funding With a Macon Car Accident Loan Today
Take control over financial circumstances today with Silver Dollar Financial. We promise fair, simple interest rates, an easy application process, and a clear lending agreement. As our client, you will benefit from our fast, compassionate service.
Fill out an application now and get your cash advance in as little as 24-48 hours. It is our goal to make the process as easy as possible. Please call us with any additional questions you have about car accident loans and see what we can do for you. Ethical lending practices are our priority.