After a car accident, you will have many bills and stress to deal with. One of the most significant stressors for car accident victims is how they will pay for everything. While you might assume the settlement will provide the money you need to move forward, it can take months or years.
In the meantime, you have to find ways to pay for expenses. Sometimes you can receive a lawsuit loan within 24-48 hours after applying. To apply for Tucson car accident loans, contact Silver Dollar Financial.
Advantages of Tucson Car Accident Loans
Justice can take time, as the legal process can move at a snail’s pace. You might have an idea of how long your case will take when you experience a delay.
Accident victims need money now because bill collectors and expenses do not wait. Tucson car accident loans are risk-free, and they can help you wait out the decision of your case while staying afloat financially.
You will not be forced to settle when you are not facing severe financial hardships. Even people with the financial means to get by can benefit from a Tucson car accident loan. Lawsuit loans do not require employment verification or credit check, and your lawsuit loan will use your potential settlement as collateral.
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The Process of Applying for a Lawsuit Loan
There are a few simple steps to apply for a Tucson car accident loan with Silver Dollar Financial. We make it as straightforward as possible for potential borrowers. For most applicants, the process goes as follows:
- Submit your application online or with a phone representative. It takes a few minutes.
- Silver Dollar Financial will contact your lawyer to review case details.
- A legal funding company contacts you with an offer, usually within 24 hours.
- Review your proposal with your car accident lawyer and sign the paperwork.
- Get the money in your account.
That’s all it takes to apply and receive a Tucson car accident loan. Results will vary depending on individual case factors. Working with your lawyer is also a factor to consider. Legal funding companies may ask for a copy of your case file, and if the law firm delays, it can extend the amount of time you get an offer.
How Pre-Settlement Loans in Tucson Work
A legal funding company will work with your lawyer to evaluate your case for viability and length. This is where we assess our risk factors. If the case looks favorable, we will offer you a loan. Your Tuscan car accident loan will be a percentage of your forecasted settlement. There are no monthly payments to make.
Borrowers will not undergo credit checks or have to use their finances to repay the loan. You do not have to worry about collection calls. With a car accident loan, you are borrowing money from yourself. It will also not impact your credit score.
The only way to repay your pre-settlement loan is through the resolution of your lawsuit. You do not repay the loan if you do not win your case. There is no risk to the borrower as the settlement loan company takes on all the risks.
The Amount of Money You Can Receive with a Tucson Car Accident Loan
Depending on your case and individual needs, the amount you can obtain in a Tucson car accident loan will vary. Sometimes borrowers will not get enough with one lawsuit loan. You can apply for a second or third loan if you need additional funds. Eligibility for subsequent loans varies.
Most often, borrowers will not get the entire potential settlement for a lawsuit loan. It is essential to know how much your case is worth. That involves reviewing insurance policies and injury severity. Your car accident lawyer can provide this information to our legal funding company. Typically, lawsuit loans will be 10-20% of the potential settlement.
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A Lawsuit Loan Can Aid Your Case
A key benefit of getting a Tucson car accident loan is that it will help your case. Insurance companies know the viability of the cases that come across their desks. Even when the claim is valid, they will use the classic delay tactic. They make victims wait by offering low settlements. Lawsuit loans give your lawyer more time to negotiate for a higher payment and allow you to stay afloat in the process.
Insurance companies are waiting for the plaintiff to become desperate and accept their offers. That way, they pay less. When you have a Tscon car accident loan, it gives you space to pay your expenses and bills. You can look at an offer clearly and make the right decision.
How Lawsuit Loan Interest Rates Work
It is best to borrow a conservative amount from your potential settlement. Interest rates may accrue while the case is still open. Most legal funding companies will charge simple interest rates. These rates are usually in the single-digit range.
Compound or high-interest rates can leave borrowers with little to no settlement. Review the terms of your loan before signing.
Using Your Legal Funding
Since you are essentially borrowing money from yourself, you can use the funds on anything you deem necessary. Once the legal funding company gives you the funds, they have no control over what borrowers do with them. Often borrowers will use the money to cover the following:
- Wage replacement
- Child care costs
- Medical expenses
- Court and legal fees
- Food and fuel
- Credit card bills
- Out-of-pocket expenses
- Education costs
It is best to account for current and future expenses. An estimate of how long the case will last can help you budget where to allocate your funds. There are no strings attached to what you can spend your money on; a piece of advice is to only take out what you need.
Apply for a Tucson Car Accident Loan with Silver Dollar Financial
Silver Dollar Financial helps borrowers reclaim control of their finances. We understand how challenging it is after a car accident to stay afloat. Applying for a Tucson car accident loan is free, and some applicants get answers within 24 hours.
Gather your case and attorney information and apply for a Tucson car accident loan with Silver Dollar Financial by contacting us today.