Silver Dollar Financial provides personal injury and car accident victims with non-recourse loan funding that does not require repayment if the case is lost. A cash advance on a car accident settlement can be obtained at any point during your case.
Car accident pre-settlement funding in Vermont is available to plaintiffs who are in need of money due to financial setbacks that often occur after a serious auto wreck. We’re committed to providing a transparent lending process, low, simple interest rates, and respectful, compassionate service to the clients we serve.
Can I Get a Loan Before a Car Accident Settlement?
Getting a car accident loan in Vermont is absolutely possible. If you are the plaintiff in an auto accident case and you have attorney representation, pre-settlement legal funding is available to help meet your financial obligations while you wait for the insurance settlement.
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What to Do if the Insurance Company Is Stalling
Insurance companies are notorious for hanging on to their money. They employ skilled negotiators whose job is to minimize the financial impact of settlement payouts. This means they are specifically paid and employed to keep your compensation as low as they possibly can.
Insurance companies use stall tactics, leaving the plaintiff hanging financially while life goes on. They drag their responses out in an attempt to force you into a corner as your financial situation becomes more desperate.
Their goal is for you to run out of money, grow tired emotionally and mentally, and leave you with little choice but to accept an unreasonably low offer. If you financially prepare yourself, you take away their ammunition.
How Can a Vermont Car Accident Loan Improve the Outcome of My Case?
This is where your Vermont car accident loan gives you the power to take control of their game and combat their strategy. The pressure on you is released when you have the funds available to survive and pay for living expenses.
You have the luxury of time to wait out the insurance company. When you obtain legal funding against the settlement, you are giving your attorney the time needed to sharpen his sword and go into battle to get you a larger settlement.
How Am I Allowed to Use the Money From a Car Accident Loan?
When your life is turned upside down after a car accident, a pre-settlement loan can alleviate the financial pressure and uncertainty that often follows in its wake. The money from legal funding can help the plaintiff to cover necessary expenses, medical costs, or anything else that is needed during the negotiation process.
Medical treatments can be delayed if money is not available and many people fall behind on mortgage or rent payments, utility bills, credit cards, or car payments because they have been unable to work. The aftermath of a serious car crash can have a ripple effect on finances that will leave an impact if immediate action is not taken.
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How Pre-Settlement Funding Can Keep Unnecessary Fees From Setting You Back
First, a Vermont car accident loan can cover basic living expenses and help to carry you through this difficult time financially. However, this type of funding can also circumvent future costs and negative consequences. If you are on the fence about whether or not a cash advance is necessary for your situation, read on.
- Protect your credit rating: The temptation to let a few bills slide or lapse in anticipation of a settlement may seem like a good idea, however, it will hamper your ability to obtain credit and impact your credit score. A car accident loan can prevent that.
- Prevent reconnection fees: The reconnection of services that have been turned off is costly. These charges can be in the hundred-dollar range depending on the provider. With pre-settlement funding from a car accident, you can avoid these charges.
- Avoid junk fees: Late fees, insufficient fund charges, overdraft fees, and other penalties can wipe out a dwindling checking account. These “junk fees” are painful to pay for and they rob you of your limited financial resources. Legal funding loans will prevent this.
How the Loan Amount Is Determined for a Vermont Car Accident Loan
Your loan amount is determined by three factors. To estimate the amount you might qualify for depends on the amount of insurance carried, the severity of injuries, and liability. The insurance companies generally assign a number to injuries based on the length of time it takes to heal and the type of treatment involved.
The states require varying minimum amounts of coverage, so it is important to consider where the defendant’s insurance policy comes from. Some drivers will carry more than the minimum, but for purposes of estimation, the amount of minimum insurance coverage in Vermont is listed below:
- $25,000 bodily injury liability per person and $50,000 bodily injury liability per accident
- $10,000 property damage liability per accident
- $50,000 uninsured/underinsured per person and $100,000 uninsured/underinsured per accident
- $10,000 uninsured/underinsured property damage coverage per accident
It is safe to assume that most companies will lend between 10 and 20% of your projected settlement award amount. You can take less than the approved amount of your car accident loan depending on your needs.
Pursue a Vermont Car Accident Loan Today
If you have bills and expenses that just can’t wait for a settlement to arrive, take control of your circumstances with an auto accident loan in Vermont today. To find out more, contact our office or click the Apply Now button on our website.
Silver Dollar Financial can get you the money you need in as little as 24-48 hours so that you gain the breathing room to fight your case and get the full settlement you deserve. Free yourself from the stress of past-due bills and call to speak with our compassionate and knowledgeable lending team. We are here to help you.