If you’ve been in a car accident, you know that the full scope of expenses you have to pay afterward can be overwhelming, even if you weren’t at fault. A lawsuit can help you recover money for your damages, but that takes time and means you have to hire a lawyer. While you wait for your settlement, an auto accident loan in Rhode Island can help you stay afloat.
Read about pre-settlement funding for car accident lawsuits and how it can benefit you. If you have questions, our live agents are on call to answer them. At Silver Dollar Financial, our application process is easy, and you could be able to get funds within 24 hours.
Requirements for a Car Accident Loan in Rhode Island
One of the many good things about the car accident loans that we offer in Rhode Island is the fact that there are very few requirements for funding. Compared to other loans, our process is very easy. There are:
- NO credit checks
- NO proof of employment or income
- NO hidden fees
Instead, all we need to know is that you’re currently suing someone for a car crash and that your lawyer is on board. The only requirements for a car accident loan in Rhode Island are that you fill out our online application, that you agree to a simple interest rate, and that your attorney consents to legal funding.
Certain lawyers don’t want their clients to get pre-settlement funding for their car accident lawsuits. They may not understand your dire financial situation or just how risk-free cash funding can be. If your lawyer does not agree, you cannot get a lawsuit loan unless you switch to a lawyer who does.
Click to contact the Silver Dollar Financial Team today or Call +1(844)871-0628
Why Should I Get a Lawsuit Loan?
Lawsuits take time. Even if your case is relatively clear, it could take months for your lawyer to put together a strong case and negotiate a settlement with the other party. If your case is more complicated or involves higher damages, it could take a year or more to get a settlement. After a crash, you might not have time to wait for those funds.
While your lawyer works to get you the most compensation they can, a lawsuit loan can offer you the financial freedom you need for bills, rent, and other expenses. Pre-settlement funding allows you to take part of your settlement up front and pay us back (with some interest) when you get your compensation.
A lawsuit loan could also help you get more compensation. That’s because the insurance company’s first offer, or even their first few offers, may be less than you could get with the right evidence and enough work from your attorney. By giving you some financial leeway, funding allows more time to build the strongest case possible.
What Is a Car Accident Loan?
What most people call car accident loans or lawsuit loans are actually a bit different than other loans that you might get for college or a mortgage. In fact, pre-settlement funding is seen more as an investment on our part, and we are accepting the risks that come along with giving you cash for your lawsuit.
What we offer is a non-recourse loan, which means we can’t take any of your personal assets as collateral. All we can take is the money that you get from your settlement, which means if you lose your case and don’t receive any compensation, you don’t have to pay us anything.
Some loan companies have hidden fees and compound interest that increases over time. We don’t do that. Our car accident pre-settlement funding uses simple interest that doesn’t compound on itself, and we will always be transparent about what you have to pay back.
How Rhode Island Law Could Affect Your Pre-Settlement Funding
While we try to make funding as fair and easy as possible for everyone in the country, there are some laws in Rhode Island that could affect how much you get. That’s because your loan will depend on how much your settlement is likely to be, and the state imposes certain laws that have the potential to affect your compensation.
A major consideration for your lawyer and your lawsuit loan company is Rhode Island’s comparative fault rule. Rhode Island General Laws § 9-20-4 outlines what is known as “pure comparative fault,” which means even if a driver had a level of negligence in their accident, they can still recover some funds.
This could be good for plaintiffs seeking car accident loans in Rhode Island. Other states have modified comparative fault laws that take away plaintiffs’ right to compensation if they had any amount of fault in their accident. That means your negligence won’t necessarily disqualify you from pre-settlement funding, but it may affect how much a lender decides to give you.
Other laws that can affect your pre-settlement funding include Rhode Island’s drivers’ insurance requirements, which set certain minimum limits for bodily injuries, property damage, and liability. That means you have a good chance of getting at least that much from your lawsuit and that we will be willing to give you at least a certain amount for your car accident loan.
Apply Now for Pre-Settlement Funding
Easy Application for a Rhode Island Car Accident Loan
Between your injuries, your car repairs, your bills, and your lawsuit, you have enough to worry about. That’s why a Rhode Island car accident loan from Silver Dollar Financial is easy to apply for and approval can happen within the hour.
We want to make it as simple and fast as possible for you to get the funds you need to stay afloat. Use our online application or talk to one of our live agents to get started. Money could be in your account in as little as a day.