A car accident can cause more than just bodily harm. The accident can cripple an individual financially. If it does, the accident can make it tough for an individual to make a full recovery.
At Silver Dollar Financial, we offer car accident loans to those in need. Our loans allow auto accident victims to receive instant funding they can use to cover their medical bills and other expenses. We also provide responses to some of the most common questions surrounding how to financially recover from a car accident.
How Long Will It Take to Recover Financially After an Auto Accident?
The time it takes to financially rebound from a car accident depends on the incident. In some car accidents, an individual can recover within weeks or months. At other times, an individual may never make a complete financial recovery.
Following an auto accident, an individual must assess the damage. The accident may have caused injuries or property damage. It may result in emotional trauma that hampers an individual’s relationships with others, too.
It can be beneficial to meet with a personal injury lawyer who specializes in auto accidents. This attorney can help an individual evaluate the financial impact of a car accident. Also, the lawyer can provide insights into how to file a personal injury lawsuit and pursue car accident pre-settlement funding.
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How Does a Car Accident Impact My Bottom Line?
Research indicates that 4.8 million roadway users were seriously injured in car accidents and other motor vehicle crashes in 2020. The estimated cost of these incidents was $474 billion. Each one can have immediate and long-lasting ramifications on those involved.
In the short term, a car accident can cause injuries to anyone involved. For example, a negligent driver can strike another motorist, resulting in an injury. The accident victim may require costly medical treatments to address their injury.
A car accident victim may be forced to miss work due to their injury. This can make it difficult for the victim to earn the money required to pay their medical bills and other expenses. It may ultimately lead a car accident victim to pursue an auto accident loan.
Is a Car Accident Loan Necessary?
A car accident loan is a viable option for individuals in need of money right away. The loan lets a car accident victim borrow money based on a projected personal injury case settlement. Once the victim’s case is settled, this individual can repay their loan.
Car accident loans can be beneficial because it can take many months or years to resolve a lawsuit. This is due in part to the fact that an auto accident victim may need to prove the elements of negligence were present to win their case. In addition, there is no telling when a court will make its final decision in a car accident lawsuit.
By getting an auto accident loan, an individual can guard against financial issues. The loan enables car accident victims to receive money that can be used to cover their medical bills and other daily expenses. Plus, the loan will have no impact on an individual’s credit score or ability to secure other forms of financing down the line.
How Does an Auto Accident Loan Work Exactly?
Car accident pre-settlement funding is classified as a type of lawsuit loan. It gives an individual access to money based on their car accident case and various factors associated with it. There are a few restrictions associated with auto accident loans as well.
A car accident victim is required to have a lawyer to qualify for auto accident pre-settlement funding. This attorney works on behalf of the client to secure pre-settlement funding. After the plaintiff’s case is closed, their lawyer verifies the lawsuit loan provider is repaid in full.
Outside of hiring a lawyer, a car accident victim can get a lawsuit loan without delay. This individual can fill out an application in a matter of minutes. There is no need for the applicant to share their credit score or other financial information during the application process, either.
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How Long Does It Take to Get Approved for a Car Accident Loan?
A car accident victim can find out as soon as the next day if their lawsuit loan application has been approved. At this point, this individual receives a lawsuit loan quote. It is in this individual’s best interest to review the quote carefully and follow up with the pre-settlement funding provider with any concerns or questions.
If a car accident victim is happy with a lawsuit loan quote, this individual can finalize their pre-settlement funding request. The car accident victim can submit the proper documentation to confirm their acceptance of a lawsuit loan. From here, the pre-settlement funding provider ensures this individual gets their lawsuit loan check.
It only takes a few days for a lawsuit loan check to arrive in the mail. When it does, a car accident victim can cash it. Then, this individual can start using their pre-settlement funding.
What Happens If I Get a Car Accident Loan and I Lose My Case?
The legal system can be unpredictable, particularly when it comes to auto accident lawsuits. A car accident can be complicated, and deciding if a victim is awarded damages is challenging for judges and juries. If a car accident victim gets a lawsuit loan but receives no damages, this individual may have concerns about how to repay their pre-settlement funding.
In the event that an auto accident victim loses their case, it is important not to stress. The victim can take solace in the fact that their case is closed, even if it did not deliver the desired result. At the same time, the victim can rest assured that their lawsuit loan is cleared.
A lawsuit loan provider takes 100% of the risk with car accident pre-settlement funding. If a car accident victim loses their case, the lawsuit loan provider is responsible for the entire pre-settlement funding amount. Thus, the victim keeps the money from their lawsuit loan with no obligation to repay it.
Check Out the Car Accident Loans Available from Silver Dollar Financial
Silver Dollar Financial is a top choice for car accident loans. We can teach you about auto accident pre-settlement funding and help you submit a lawsuit loan application at any time. To learn more, please contact us today.