What Types of Treatment Does Medical Funding Cover?
Medical funding is a useful way for injured people to get the money they need to pay off healthcare bills now rather than wait for their personal injury claim to settle or be resolved in court. Though this kind of financing is available for most approved medical treatments, it is often used for expensive options like intensive surgery. Some of the reasons you may want to pursue medical funding from a reputable financing company like Silver Dollar Financial include the following:
- Heart surgery
- Therapy for traumatic brain injuries (TBIs)
- Reconstructive surgery
- Long-term pain management therapies
- Prosthetic fitting
Silver Dollar Financial provides pre-settlement medical funding for clients who need their money now. Unfortunately, personal injury claims can last months and even years, given that you can file your claim anytime within two years (according to Georgia’s statute of limitations). If you end up filing your claim in the latter part of that timeframe, and the opposing insurance company drags out negotiations, you can be forced to wait three to four years from the date of your accident before you get the compensation you need to pay off medical bills.
By getting medical funding, you “borrow forward” from yourself and your eventual settlement or award, with Silver Dollar Financial acting as mediator. You can then use that pre-settlement funding to pay for all your medical expenses.
How Medical Funding Differs From Pre-Settlement Funding
Pre-settlement funding is the financial aid you receive while your personal injury claim negotiations are ongoing. Then, you pay the pre-settlement loan back out of your final award or settlement. Medical funding is one kind of pre-settlement financing expressly set aside for medical treatments. However, you may want to get broader pre-settlement funding so that you can meet other expenses:
- Vehicle repairs due to your accident
- Necessary medical equipment installed in your home
- Childcare expenses
- Lost wages
- Any of the damages you suffered in your accident
Silver Dollar Financial is dedicated to providing our clients with the flexibility they need to wait out their personal injury claim negotiations and get the best possible settlement. When you are approved for pre-settlement funding by our team of financial experts, you can get up to $100,000 in your bank account in as little as 24 hours! This can make a significant difference in your negotiations by easing the financial pressure you feel as the case drags on.
Paying Back Your Medical Funding
Many people worry about paying back pre-settlement or medical funding loans. However, the reality is that you are borrowing from your future self. Whatever funding you get before your settlement, you pay that loan back out of the compensation you eventually receive. Typically, reasonable attorneys get clients settlements that leave them with money left over even after attorney’s fees and pre-settlement loan repayments. Whatever is left over, you keep!
What Happens When You Do Not Recover
Sometimes, personal injury cases do not turn out the way we would like. In some situations, your negotiations with the other side can falter, and the other party wins in court. You may be afraid to take out a pre-settlement loan or get medical funding for fear that you would be on the line for significant repayments if your case fails.
However, you do not have to pay Silver Dollar Financial back if you do not recover. This policy helps take the anxiety out of funding so that you and your attorney can negotiate the best possible compensation package for you and your family.
Why Waiting Benefits the Other Side
Often, insurance companies use stall tactics to postpone negotiations. Their goal is to make you desperate for any compensation as your medical bills, combined with lost wages due to injury, put significant financial pressure on you. The longer they can postpone a settlement, the more likely you are to agree to smaller payments (at least, in theory). By getting medical funding to cover any mounting healthcare debt, you remove this tool and throw a wrench into their shady stall tactics.
You Can Get Medical Funding by Applying Today
With Silver Dollar Financial, the pre-settlement funding process is simple and straightforward. All you have to do is fill out the information on our Apply Now page. Our team takes it from there, processing your application within as little as 24 hours. We look at a variety of factors to determine your eligibility, but your credit score is not one. Sometimes, we may request additional information or documentation from the attorney or law firm representing you in your case so that we can be informed about the strength of your claim and the depth of your financial need.
Click the Apply Now button to start the process and take control of your finances today!