A car accident can leave you with a wide range of medical bills, lost income, frustrating pain, and the inability to work. You may be owed a settlement from the person responsible for your losses, but it seems like it is going to take a long time to come through. You may be asking, “Can I get an advance on a car accident settlement just to meet my needs?”
The answer is yes; a pre-settlement loan can help you get through this period until you are able to access your settlement. Silver Dollar Financial can help make that possible. We encourage you to reach out to us for a quote to see just how fast and easy getting funding can be.
Car Accident Settlements Often Take a Long Time
It is not uncommon for a car accident settlement to take a very long time to process. That is often due to the delays on the insurance company’s side because they are trying to negotiate the lowest rate possible. If you have attorneys, you may be confident they are doing all they can to help you, but you are still waiting, and that means financial difficulty right now.
It is not uncommon for car accident settlements to take months to become available, and in some cases, especially when the settlement is quite large, it may take even longer for it to come through. If your case goes to trial, it is not uncommon for this to delay the settlement by even more time, even years. It can be quite frustrating to realize this, but the good news is that you can do something about it with a pre-settlement loan.
How Does an Advance from a Car Accident Settlement Work?
With an advance on a car accident settlement, you are getting money now that you are likely to get later when your settlement becomes available. The good news is that you can often get a fraction of the funds likely owed to you in as little as 24 hours.
With an advance on your settlement, you receive those funds now, often within just a matter of a few hours. You can then use them however you want. When your settlement finally becomes available, you will use those funds to pay off the advance and receive the rest of your settlement. It is a straightforward process and one that can help you to get the money you need in hand right now.
What You Owe if Your Case Fails
There are some situations where even the most likely car accident settlements do not come through for some reason. You may find that you have lost your case at trial, for example.
When this happens, your cash advance through Silver Dollar Financial becomes non-payable. That means that you are not responsible for paying back the borrowed funds. You can, instead, move on with your life or, if you need to do so, appeal your settlement decision.
The Benefits of Getting a Cash Advance for Your Car Accident
There are a few key reasons why so many people need to use a cash advance from their car accident settlement to help them through the legal process and beyond. Consider these benefits.
There Is No Risk to You if the Settlement Does Not Come Through
Not having to repay the debt if your claim does not come through really is one of the best benefits to you because it alleviates that risk and frustration. Without having to repay this debt, you are not further behind.
There Is No Credit Check or Employment Verification Necessary
Your credit score does not impact your ability to obtain a cash advance on your car settlement. You do not need to have any specific credit score.
You also do not need to have employment or income coming in. This means that, unlike other types of loans, a cash advance may be easier for you to take if you are out of work due to your injuries.
You Can Get Money in as Little as 24 Hours
Typically, funding for your cash advance does not take long, even just a matter of hours or a couple of days. This means you can meet all your financial needs now without further delaying the process. For many people, this is critical to paying their rent or mortgage, putting food on the table, or getting medical collectors to stop calling.
The Drawbacks of a Cash Advance
There are a few factors to consider when obtaining a cash advance that will impact you overall.
There Are Fees
The key to remember here is that there is a fee for using the cash advance, but it tends to be a low interest rate on the borrowed amount. You also know what that fee is before you agree to the loan.
You May Be Limited in How Much You Can Borrow
There are some risks associated with these loans to the lender, and as a result, they typically will provide 10 to 20 percent of the expected settlement, but not much more than this. Depending on your settlement, that could be a significant amount of money. At Silver Dollar Financial, we typically offer loans for $1,000 to $100,000.
How Do You Get a Cash Advance for Your Car Accident Settlement?
The easiest way to get a cash advance is to use our online tools. You just need to provide some basic information to apply for the loan. There is no risk – if you decide that you do not want to go through with it, you do not have to do so.
With a simple online process – without any associated cost for applying for a loan – you can finally get some of the money owed to you. Contact Silver Dollar Financial now to apply for a loan or to ask any of the questions you have.
Our team is readily available to guide you through this process. You can contact us 24 hours a day for any guidance you need or fill out an application online now.