How Does Medical Funding Work?
When you are injured because of the actions or negligence of another person, you may wish to file a personal injury claim to recoup the cost of your damages. These can include your medical bills, the cost of restoring any damaged property like a car, the value of any wages you lose as a result of not being able to work, future wages you may lose if your injury leaves you unable to work at your pre-injury level, and even factors like your physical pain and mental trauma. But while your claim drags on, potentially lasting over a year or more from the day of your injury, your medical expenses may pile up and the collectors may come calling.
One solution to this problem is medical funding. Silver Dollar Financial can pay for your medical expenses now, easing the burden on you and your family. Then, when your case resolves and you receive compensation for your harms, you simply pay us back out of that settlement.
The Difference Between Medical Funding and Pre-Settlement Loans
You can think of medical funding as a subset of pre-settlement loans since it is money loaned to you before you receive a settlement or recovery in your personal injury claim. However, there are some key differences.
Medical Funding Goes Directly to My Medical Bills
With medical funding, Silver Dollar Financial pays your healthcare costs. For example, you may have a large bill for necessary surgery after your injury. Silver Dollar Financial directly pays the hospital or healthcare facility for that surgery, allowing you to focus on your ongoing personal injury claim rather than worrying about your medical bills. If medical costs are your primary concern, this may be the option that best suits you.
Pre-Settlement Loans Are More Generalized
On the other hand, pre-settlement loans are deposited into your bank account. Silver Dollar Financial can loan you up to $100,000 to use as needed. With pre-settlement funding, you decide how you want to spend your money. It can go toward medical costs, but it can also be used for living expenses like rent and food. You may want to seek a pre-settlement loan if your financial woes stem from more than just the cost of your medical care.
Paying Back My Medical Funding
As with all pre-settlement loans from Silver Dollar Financial, you pay back your medical funding from your eventual recovery in your personal injury claim. Of course, your settlement (or the decision of the judge or jury if your case goes to trial) often will be much higher than the cost of your medical care. After paying back the medical funding, you keep the rest!
Personal injury claims can take a very long time to resolve, and many injured people simply cannot withstand the financial strain that accrues over this time. For example, just the filing of your personal injury claim can take up to two years from the date of your injury according to the Georgia statute of limitations. At Silver Dollar Financial, we don’t think your economic situation should prevent you from getting the justice you deserve.
When I Do Not Recover Compensation
Sadly, not all personal injury claims end on a positive note. You may be unable to reach an agreeable settlement during negotiations, decide to take your case to trial, and ultimately end up losing the case. In this situation, don’t fret. You do not have to pay us back if you do not recover compensation.
Apply for Medical Funding
Getting your medical funding is a simple three-step process. Silver Dollar Financial wants to take the hassle out of pre-settlement loans while keeping everything transparent so that you are kept in the loop and always feel comfortable.
Submit Your Information
The first step in the process is the only one that requires action on your part. Click the Apply Now button at the top of the page and fill in the forms with your information. Data that we will need in order to approve your request include:
- Your contact information
- Contact information for the law firm representing you
- Details about your case
- Details about your financial need
Silver Dollar Financial Assesses Your Request
Our team of financial experts and medical funding wizards will evaluate the information you provide to decide whether you are eligible for medical funding. In some cases, this process takes very little time and you can be approved for funding within as little as 24 hours. At other times, we may contact you or your attorney for additional data before we make our decision.
Once you are approved for medical funding, Silver Dollar Financial will pay off your medical expenses related to your personal injury claim. The process really is easy. Just apply, wait for approval, and get your money now rather than having to wait for your settlement to resolve.
Silver Dollar Financial Can Help Today
Our goal at Silver Dollar Financial is to provide injured people with the medical funding, pre-settlement loans, and structured settlement funding that they need to ease their burdens. The opposing side in your claim probably will try to prolong negotiations and drag the case on for months so that you feel financially vulnerable enough to settle for far less than your case is worth.
Take control of your personal injury claim today by applying for medical funding from Silver Dollar Financial. If you would like to talk to a representative, call us at (844) 871-0628.