If you are one of the seven in ten Americans living paycheck to paycheck, the cost of losing work and getting behind on bills can become overwhelming very quickly. Unfortunately, arriving at a fair compensation amount for that settlement takes more time than most people can afford.
A North Dakota car accident lawsuit loan is a financial tool to help you get on your feet when your ability to work and your money were affected by somebody else’s negligence. You may qualify for pre-settlement funding with Silver Dollar Financial. We are available 24/7 to begin the application process to get you the cash you need right now.
Why People Apply for Legal Funding With a Car Accident Loan
When you have been injured in an auto accident, your injuries and added costs due to the accident are accompanied by the pressure to meet your daily living expenses. If you cannot return to work as you normally do, the stress impacts your family, your ability to heal, and your mental well-being.
Waiting months for a settlement check to come is just not an option for most people. Sometimes, it’s not immediately obvious who was at fault in an auto accident. Even when liability and fault are easily determined, the back and forth between the insurance companies and attorneys can take months or even years. Negotiation is a game of patience.
In the meantime, daily life goes on. Mortgage, rent, utilities, and other bills will wait for no one. Waiting for the settlement check to come can leave you feeling powerless. This is why so many car accident victims seek lawsuit loan offers.
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Advantages of Taking a Loan on Your Car Accident Settlement
Some of the benefits of pre-settlement legal funding are things that you may not yet be aware of. Aside from helping to cover your expenses, here are the other advantages of a North Dakota car accident loan.
No Credit Risk, No Credit Inquiries
Banks and credit union loans rely on your credit and job history for approval. Monthly payments will be required. If you are already behind on finances or cannot return to work soon, it’s just not practical to add another monthly expense right now.
North Dakota legal funding does not require inquiries into your personal finances or work. The loan is based upon collateral, in this case, the future settlement check. Therefore, there are no monthly payments to worry about and there is no risk of damaging your credit.
Rapid Approval Process
Another advantage of car accident loans is the rapid application approval process, often bringing financial help to people within 24-48 hours. Sometimes, that money can change the course of your financial situation by preserving your credit rating, preventing eviction, or avoiding foreclosure.
Stop the Insurance Company Stall Tactics and Improve Your Settlement
Insurance companies have big business interests to minimize the payout to the plaintiff as much as possible. One very popular trick they use is to stall. Filing unnecessary motions and waiting out deadlines until the last minute will often force accident victims to accept a lower value settlement.
Depending on your situation, a car accident loan could buy the time you need to fight the case and maximize your settlement amount. Having cash available to wait and using it responsibly can destroy the defendant’s ability to pelt you with lowball offers.
Pre-settlement loan funding can be the difference between having medical treatment or continuing to suffer. It can purchase necessary medications that are no longer affordable since the victim is unable to work. It can put groceries on the table and sustain you while you recover.
Avoiding Costly Junk Fees
When bills are past due, penalties, late fees, reconnection fees, and other charges add up quickly and can be a major burden on a tight budget. These costs take the money you need for more important things and can be prevented if the injury victim has the money from an accident settlement loan.
What Are the Risks of Car Accident Loans?
Any time you borrow money, there can be risks. Fortunately, pre-settlement loans do not have the obvious risk to personal property or your credit rating. Here are some issues to consider when you are looking for a settlement cash advance lending company.
Unscrupulous Lenders, Hidden Charges, Compound Rates
Pre-settlement funding can be costly if it is not carefully researched before an agreement to borrow is signed. Legal funding lenders can subscribe to predatory lending practices such as charging compounding interest, excessive fee amounts, and hidden clauses.
If you cannot make sense of the contract, they only offer compound interest rates, or the lender won’t respond to your questions or calls, choose a different one.
What Is the Cost of an Accident Settlement Loan?
We only offer simple interest loans, typically in the single-digit range. It is very important to avoid compound interest as it can easily drain your settlement check even if you only borrow a small fraction of the value.
Car accident loan companies all charge interest, and it can add up if the case is drawn out for months or years. This is why it’s important to only borrow what you need, and choose the best lender for you.
We also believe in ethical lending with clearly written contracts and no hidden costs. We want you to understand what you are signing and we are happy to answer all your questions.
Apply Now for Pre-Settlement Funding
Apply for a North Dakota Car Accident Loan
Apply or call us now to learn more about how a cash advance car accident loan in North Dakota from Silver Dollar Financial can help you. We are committed to helping accident victims with integrity, respect, and compassion.
It’s important to choose wisely when looking at your lawsuit loan options. At Silver Dollar Financial, we pride ourselves on providing lawsuit loans that genuinely help the accident victim in need. We look forward to serving you.