As you may well know, car accidents create lots of expenses. Medical bills, repairs, and lost work can put you in a financial rut. A lawsuit can get you compensation for those expenses, but the legal process can be very slow. Pre-settlement funding from Silver Dollar Financial can help.
A Wisconsin auto accident loan allows you to pay off bills while you wait for your lawyer to get you a good settlement. Learn more about legal funding in Wisconsin and what your options are. Our application is quick and easy, and we often approve funding within 24 hours.
What Is a Car Accident Loan?
When you think of a loan, you might think of student loans or auto loans that have compounding interest and exorbitant fees. We do things a bit differently. A car accident loan, in your case, is more like a mix between a loan and a cash advance. A lawsuit funding company gives you funds to use how you see fit, and you only pay that back if you win your case.
Other lenders give what is known as a recourse loan, which means they can take your personal assets if you aren’t able to pay them. That’s not the case with our car accident loans. Instead, we give out non-recourse loans, which means we only have access to your settlement and not any other money or property of yours.
Our non-recourse policy means you don’t have to pay us back if you don’t get compensation for your car crash. Plus, since we only accept repayment from your settlement, you don’t need to provide any credit check or proof of employment. You just need a valid lawsuit and a lawyer who agrees to legal funding.
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How to Get a Car Accident Loan in Wisconsin
The first step to getting a car accident loan is making sure you’re eligible. Requirements for Wisconsin car accident loans often aren’t very high, but funding companies usually need to know that your case will get you compensation. You’ll also need an attorney working on your case, as they will have to provide some information to us about your claim.
Also important in getting a car accident loan is finding the right company. Some companies take compound interest and hidden fees that drain most of your compensation, even if you borrow a small percentage. You should look for a company that is transparent about their interest and is willing to talk to you about your lawsuit loan.
Once you’ve found the right company, all that’s left to do is apply. Our application process is extremely easy—you just give us some details about your claim and your lawyer, and we take it from there. Applying takes minutes, and we don’t need you to prove that you’re in good financial standing.
Fast Auto Accident Lawsuit Funding
The application isn’t the only quick part of the Wisconsin car accident loan process. Approval is fast, too. Given that you provided all the answers we need and that your lawyer is responsive, you could have approval in as soon as 24 hours. There’s not a lengthy review process or multiple hoops to jump through.
Getting the funds you’re approved for shouldn’t take much longer, either. Depending on when you’re approved, this could be within a day or two. As soon as you get your legal funding, you’re free to spend it on whatever you need to, like living expenses, bills, or rent.
Modified Comparative Negligence in Wisconsin
There are some laws in Wisconsin that could affect your compensation and your car accident loan. Chief among these is the state’s modified comparative negligence law, which could mean a smaller settlement if you had a percentage of fault in your accident.
According to Wisconsin Statutes § 895.045(1), your compensation could be diminished in proportion to your amount of fault. So, for example, if you stood to get $10,000 for your car accident claim but had 20% of the fault in the crash, you could lose out on $2,000. If you were more than 51% at fault, you aren’t eligible for compensation.
If you were at fault for your accident, you most likely aren’t eligible for legal funding. However, if you were partially at fault and still stand to get some compensation, you could still be eligible. You can talk to an agent from our company about your situation and what comparative fault means for your car accident loan.
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Apply for a Car Accident Loan in Wisconsin
It can take months for your lawyer to even put together your claim, let alone get a settlement. It’s best that they take the time they need for a strong case, but after a crash, you might not have time to wait to pay your medical bills and living expenses.
A Wisconsin car accident loan from Silver Dollar Financial can help you keep up. To get started, fill out our online application or call us to talk to an agent. We’re available 24/7 and are ready to help.