If you are involved in a personal injury lawsuit, there is no telling when you will get damages. In the meantime, you may want to pursue New Mexico pre-settlement funding. You can choose between New Mexico car accident loans and other funding options that allow you to borrow against your projected settlement.
At Silver Dollar Financial, we understand the wheels of justice turn slowly, which forces plaintiffs in injury cases to make tough financial decisions. We provide legal funding of up to $100,000 that you can use to cover your daily expenses until your case gets resolved. For more information, reach out to us.
How a Personal Injury Lawsuit Works
You may want to file an injury lawsuit if you get hurt due to no fault of your own. For example, a negligent driver may crash their vehicle into you, leaving you with an injury. At this point, you may submit a claim through the liable driver’s insurance or seek damages through a lawsuit.
When you request compensation, you may have no idea how long it takes to settle a lawsuit. In New Mexico, you may have up to three years from the date you suffer your injury to ask for damages from an at-fault party. Yet, you are not guaranteed to recover damages in your case, even if you submit it in accordance with the statute of limitations.
With pre-settlement funding in New Mexico, you may get money that you can use while you pursue your case. The team at Silver Dollar Financial can go over our legal loan options with you. To learn more, get in touch with us.
Click to contact the Silver Dollar Financial Team today or Call +1(844)871-0628
Cost of a Personal Injury
What you pay to treat your personal injury depends on your medical care and other factors. According to the National Safety Council (NSC), the average cost of a medically consulted injury was $40,000 as of 2022. If you get hurt at work, on someone else’s property, or anywhere else, it may be best to file a claim against an at-fault party.
You may have a strong argument for damages, and an attorney may help you prove that the defendant in your injury case was negligent. Regardless, the defendant may hire a lawyer to represent them and do everything within their power to contest your claim. If they are successful, you may be forced to pay some or all of your injury-related costs out of your own pocket.
A pre-settlement loan offers financial protection in an injury lawsuit. You may get a legal loan after you file your injury claim. If you do not receive a settlement, you may not have to repay your loan balance.
How Pre-Settlement Funding Works
In terms of what is pre-settlement funding, you may want to consider this option versus a traditional loan from a bank or credit union. With a standard loan, you make monthly payments until your balance is paid in full. Alternatively, legal funding does not require any payments unless you win or settle your case.
You must hire an attorney to represent you before you can apply for a legal loan. This gives you access to an attorney who will advocate for you and protect your legal rights. Also, your lawyer will serve as your liaison between you and your lawsuit loan company.
Over the course of your litigation, you and your lawyer will work together to get the most compensation possible. Your attorney will keep your pre-settlement funding company up to date about your case. If you are awarded damages, only then will you have to pay back your loan.
Click to contact the Silver Dollar Financial Team today or Call +1(844)871-0628
Legal Loan Options
There is no such thing as a one-size-fits-all legal loan. Many types of legal funding are available. These include:
- Car accident loan
- Medical funding
- Slip and fall lawsuit loan
- Structured settlement funding
A legal loan provider can discuss its pre-settlement funding options with you. If you find a loan option you like, you may submit an application over the phone or online. Once your request is approved, you may get money in as little as 24 hours.
Apply Now for Pre-Settlement Funding
Pre-Settlement Loan Application Process
To get your money now, you will need to complete a legal loan application. It may take you only a few minutes to fill out your application. During the application process, you will not need to provide information about your credit and income histories.
A lawsuit loan company asks for information about you and your case. The business uses this information to determine your loan amount. Next, it will give you a custom loan quote.
You do not have to pay anything to submit an application for pre-settlement funding. This is true regardless of whether you move forward with a loan. If you approve your loan quote, you will get your money and may spend it however you would like.
How to Repay a Legal Loan
You may be wondering if you are required to repay a non-recourse loan. The answer depends on the result of your case. If you receive compensation, you may have to pay back your loan, and your attorney will handle this process on your behalf.
To repay your loan, your attorney will deduct what you owe your pre-settlement funding company from your damages. Next, your lawyer will send a check to this company to cover your entire balance. Finally, you receive the remainder of your settlement, and your case is closed.
In a situation where you are not awarded any damages, you do not have to worry about paying back your legal funding. Your lawyer will contact your pre-settlement funding company and explain that you did not get any compensation. From here, the company waives your loan balance, and you keep 100% of your loan amount without incurring any penalties.
Request a Legal Loan
If you want help to stay afloat financially as you deal with a personal injury lawsuit, the team at Silver Dollar Financial may be able to help you out. We offer a wide range of legal funding options. To find out more, contact us today.
Call or text +1(844)871-0628 or Apply Now for Pre-Settlement Funding