A car accident loan is available to plaintiffs to provide them with cash while they are waiting for their case to settle. You may qualify for pre-settlement funding from Silver Dollar Financial with a loan that allows you the freedom of no monthly payments, no possibility of damaging your credit rating, and no repayment if you lose your case.
Qualifying for a car accident cash advance in Pennsylvania differs from a traditional loan. Funding is based on the sturdiness of your case instead of your credit score or your ability to repay. The beauty of this legal funding is that it makes cash available to plaintiffs in car accident lawsuits when they need it the most: before settlement.
Is It Time to Consider an Auto Accident Loan?
Car accident cases involving personal injury can take months and even years to settle. The tension of unpaid bills and the pressure to pay for medical expenses is distracting, to say the least. The car insurance company is stalling and making undervalued offers that won’t cover your bills, but how can you afford to wait for a better settlement?
Legal funding is a solution that will free up the cash from your future settlement so that you can meet your financial obligations and pay for your living expenses. It will enable you to prevent a foreclosure or eviction, or disconnection of vital utilities. Taking advantage of a lawsuit loan can also help you to avoid junk fee costs, such as late payment penalties, reconnection charges, or NSF fees.
This is the time to consider pre-settlement funding with a Pennsylvania car accident loan from Silver Dollar Financial. It may be the solution you have been looking for to keep your head above water and keep fighting your case. Taking a loan against your settlement can make a critical difference in your life when things have been turned upside down.
Calculating a Car Accident Loan Amount in Pennsylvania
If you are wondering how much you will be able to borrow in your settlement loan, here are the things we consider. Each case is evaluated individually to determine the exact amount of funding you will receive, but you can fairly estimate what might be available to you.
All legal funding from any lender will be directly proportional to the worth of the case. The loan amount most legal funders will provide is between 10-20% of the value. For example, if you estimate a total of $40,000, you will be able to borrow between $4000 to $8,000.
Estimate Your Case Value
The states require varying minimum amounts of coverage. Some drivers will carry more than the minimum, but for Pennsylvania, the amount of minimum insurance coverage is below:
- $15,000 bodily injury liability per person
- $30,000 bodily injury liability per accident
- $5,000 property damage liability per accident
- $5,000 medical benefits (first-party coverage)
A case settlement doesn’t exceed the limit of the defendant’s car insurance policy, so being aware of the policy limit for the defendant is helpful. To estimate the amount you might qualify for depends on the amount of insurance carried, the severity of injuries, and who is at fault.
Even if you do not know the policy limit, you can still gauge an estimate of your medical bills, damages to the car, and time off work, which can give you a rough idea.
How do Pennsylvania Car Insurance Laws Affect the Amount I Can Borrow With a Car Accident Loan?
Pennsylvania is a fault and no-fault state simultaneously. This means that the insurance you choose for yourself plays a part in the value of your case. If you chose limited tort insurance, you waived your rights to sue for pain and suffering. Fortunately, you can recover medical costs, damage to property, and wages lost.
There are exceptions to limited tort rules, however. Some exceptions that exempt you from the limited tort provision include being the victim of a DUI accident, or if you were a pedestrian or bicyclist involved in a crash with a vehicle.
If you are not at fault for the accident and have full tort insurance, you can file a lawsuit for all damages, including pain and suffering. These are important points to take into account when you are estimating the amount you can borrow with an auto accident loan.
How Much Interest Is Charged for a Car Accident Loan in Pennsylvania?
Our funding is structured as a simple interest loan with non-compounding interest rates that typically fall into the single-digit range. Reputable lenders will not charge hidden fees and avoid compound interest.
There are no fees to apply, and no upfront cash is needed to obtain a pre-settlement car accident loan in Pennsylvania from us. We are aware of the obstacles you are facing as a car accident victim and don’t want to create any further hassles for you.
Qualify for a Pennsylvania Car Accident Loan Now
Waiting months for a settlement check to come is just not an option for most people. With nearly seven in ten people in America living paycheck to paycheck, it is no wonder that the additional costs of an accident put your bank account into a tailspin. If you are unable to work due to an injury, the need is even greater.
Call Silver Dollar Financial today or apply now online to learn more about the benefits of pre-settlement funding. There are no credit inquiries, no risks, and no obligations. Our team is here to help and will be happy to answer any questions you may have about your case or car accident loans in Pennsylvania.