If you have been injured in an auto accident and can no longer wait for a settlement to take care of your bills, pre-settlement funding can provide you with the cash you need now.
The car accident loan is designed to aid the victim with a financial boost that only needs to be repaid when the case is won or settled. If your case is lost, you pay nothing back, ever. Find out more about how a cash advance on a legal settlement can help to resolve your financial issues today.
Car Accident Loans In Washington FAQ
We understand that applying for pre-settlement funding can be confusing or even intimidating. We have compiled a list of our frequently asked questions about lawsuit loan funding in Washington to help you understand the process.
Learn more about how car accident loan funding works, and what to expect during the funding process. Read on to find out how a car accident cash advance on your settlement can help you bridge the gap during a loss of income due to your accident.
Who Can Qualify for Pre-Settlement Funding for a Car Accident in Washington?
If you are over 18 years of age and have been injured in an auto accident, and have hired an attorney on a contingency basis you are a candidate. We will work directly with your attorney to determine the strength of your claim in order to determine eligibility and funding approval.
Aside from collision accidents, we fund plaintiffs for all kinds of auto injury cases including rear-end accidents, commercial vehicle accidents, faulty brakes and tires, bike accidents, and pedestrian accidents.
What Can I Use a Car Accident Loan For?
Pre-settlement car accident loans are a valuable tool when you need money to stay afloat after a serious vehicle accident. The money is used for anything the plaintiff needs to get well, stay financially stable, and keep fighting.
A Washington car accident loan allows people the critical funding they need to meet basic living expenses during a time when it is needed the most. The loss of income while recovering affects many people’s ability to pay rent, bills, or the cost of medical treatments that are not covered during this time.
Taking a loan against a pending settlement is often a lifeline that allows people to keep a roof over their head and avoid falling into extreme debt. It can also offer an opportunity to improve the outcome of a car accident settlement by providing the time needed to negotiate a higher offer with the defendant’s insurance company.
Most common uses for a legal cash advance in car accident settlements:
- Payments for House or Apartment– Basic shelter is a critical expense for everyone. It is necessary to pay your rent or mortgage and keep current to avoid eviction or foreclosure. Both of these situations are incredibly difficult to recover from financially and not worth the risk.
- Daily Needs– Heat, electricity, gas, groceries, car payments, phone bills, and necessities for personal hygiene are all important to physical recovery and mental well-being. The need for all of these items continues even when returning to work is not yet possible.
- Doctors, Prescriptions, Medical– Medications, treatments, examinations, doctor visits, and co-payments for yourself or your family even when not related to the accident can all be taken care of with pre-settlement funds
- Education Costs– Losing progress made in school is not a situation that anyone wants. Costs for tuition, books, and fees for you or your children are also important to consider.
- Avoiding Penalties – Keeping utilities turned on, paying credit card bills, car payments, and phone carrier bills on time helps you to avoid the expensive late charges, reconnection fees, and NSF fees is a wise choice to make if at all possible. These kinds of fees can add up quickly and destroy an already stretched budget.
How Much Does a Washington Car Accident Loan Cash Advance Cost?
The answer depends on how much the cash advance and interest rate are. The lender will draft an agreement that you and your attorney review and agree upon. This is 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.
A compound interest rate essentially charges interest on your interest so it grows exponentially over the course of the loan until the case settles. It is not uncommon for people who take even a modest advance to find themselves with little to nothing when the case resolves when they have taken a compound interest loan.
Car accident settlements can take months and sometimes years to resolve, depending on many variables such as the severity of injuries and the laws of the state. This is why it is important to only take what you need.
How Much Money Can I Get From a Pre Settlement Advance From My Auto Accident Settlement?
There are several factors to take into consideration. A general rule is 10-20% of the value of a case. The actual dollar amount can be estimated if you take into account three factors.
Click to contact the Silver Dollar Financial Team today or Call +1(844)871-0628
Insurance Company and Coverage
The limit of the insurance policy carried by the driver is the first consideration. The laws of many states require the driver to carry a minimum amount of coverage. In Washington state, the minimum includes:
- Bodily injury liability: $25,000 per person/$50,000 per accident
- Property damage liability: $10,000
- Under-insured motorist bodily injury: $25,000 per person/$50,000 per accident
- Under-insured motorist property damage: $10,000 per accident
- Basic personal injury protection: $10,000 per accident
If you are a passenger, it is possible to collect from the policies of both vehicles involved in the accident. It should also be noted that people often carry larger policies than the minimum requirements, with commercial vehicles often carrying up to $1m liability.
Secondly, we look at the damages. Bodily injury will be assigned a number by most insurance companies that is dependent upon how severe the injury is. They look at things like the type of injury, the amount of medical attention and treatment necessary to restore you to the best condition medically possible, the amount of pain and healing time involved, and future treatments necessary.
Then we consider fault or liability. In most cases, you must be less than 50% at fault in any state to file a suit. In some cases, such as a rear-end collision, the fault is easier to determine than in other cases. It also depends on the laws of the state where the accident happened.
Taking all of that into consideration, we arrive at an estimate based on our knowledge of the situation and the insurance companies involved. We make a conservative estimate and offer a percentage based on that amount.
Your attorney will benefit from a car accident loan as well. The time your lawyer has to fight the case is increased automatically when you, the plaintiff, can live reasonably without the settlement check. You are no longer affected by stalling tactics from the defendant and won’t be forced by overdue bills to take the lowball offer of the other insurance company.
Why Is Silver Dollar Financial the Best Option for Car Accident Pre-Settlement Funding in Washington?
Our company was founded on the principles of responsibility, respect, and empowerment. Our promise is to provide ethical lending to every personal injury victim. We are committed to treating you the way we would want our family to be treated. We lead the charge in car accident lending because we care.
At Silver Dollar Finance, we promise to provide:
- Fair, Low, Simple Interest Rates
- Transparent Application Process
- Lending Agreements with Clear Terms
- Efficient, Fast, & Compassionate Service
What Kinds of Accidents Do You Fund?
If you are wondering if your situation qualifies for a car accident loan in Washington, we have compiled a list of specific kinds of accidents that our company deals with. Here are some of the accident types we frequently fund:
- Ambulance accidents
- Bicycle accidents
- Bus accidents
- Crane accidents
- Commercial vehicle accidents
- Fire Truck accidents
- Head-on accidents
- Motorcycle accidents
- Pedestrian accident
- Police car accidents
- Parking lot accidents
- Rear-end accident claims
- RV accidents
- Semi-truck 18 wheeler accidents
- Taxi accidents
- Uber, Lyft accidents
- Train accidents
Areas We Serve in Washington State
We fund car accidents all over Washington State. Here is a partial list of the areas we serve:
- Des Moines
- Federal Way
- Lake Stevens
- Maple Valley
- Mercer Island
- Moses Lake
- Mount Vernon
- South Hill
- Spokane Valley
- University Place
- Walla Walla
Apply Today for a Low-Interest Rate Pre-Settlement Car Accident Loan
Find out now with a simple application how much your case can qualify you for. You may be closer to financial relief than you think. Call Silver Dollar Financial, or apply online to begin the process.
Take back control by securing funding with a pre-settlement car accident loan. It can give you the clarity and extra time you need to fight for a bigger settlement, and the peace of mind that comes with knowing your bills are all caught up.