What Types of Personal Injuries Can You Get Personal Injury Finance Funding for?
You can get a pre-settlement loan, or personal injury finance funding, for personal injury cases of most types, such as the following:
- Car accident claims
- Motorcycle accident claims
- Pedestrian injury cases
- Tractor-trailer crash claims
- Dog bite injuries
- Slip and fall accidents
- Medical malpractice injuries
- Drunk driving accident claims
Personal injury finance funding lenders, like Silver Dollar Financial, are usually more concerned about the viability of your claim than with the specific injury you suffered. The more critical aspect of your case is your eventual settlement’s potential value, as that will be used to pay back your personal injury finance funding. Lenders like Silver Dollar Financial are in the industry to provide injured people with relief, so they want to make sure that you will not be overly burdened with loan payments after your settlement.
Non-Recourse Personal Injury Finance Funding
Silver Dollar Financial exclusively offers non-recourse loans rather than recourse loans to ease your anxiety over getting pre-settlement funding. According to the Internal Revenue Service (IRS), a non-recourse loan is the safer type of debt to take on, as it does not hold you personally liable for the debt. In other words, you wouldn’t have to pay more than you get in your personal injury claim settlement since that is your loan’s “collateral.”
Understanding How Different Loans Treat Collateral Differently
With a non-recourse loan, the lender is only allowed to recover the collateral. For example, let’s say you have a non-recourse loan with your bank to purchase your house. If you default, the bank may take your home. However, the bank cannot go after more of your property, garnish your wages, or pursue any other form of payment even if your house is now below the value you owed for your loan.
On the other hand, a recourse loan allows the lender to hold you personally liable for the loan’s full value. So, if you default on a recourse bank loan for your home, the bank could garnish your wages even after taking your home.
How You Can Use Your Personal Injury Finance Funding
Once you are approved for a pre-settlement loan from Silver Dollar Financial, you will receive up to $100,000 in your bank account. This personal injury finance funding is available for you to use as you see fit. It’s your money, after all! Use it to go ahead and knock out payments for the damages you suffered, such as:
- Medical bills
- Property repair or replacement
- Income lost as a result of your injury
Or, use this money to pay for everyday expenses like rent, mortgage, groceries, tuition, therapy sessions, and other necessities. The point of pre-settlement personal injury finance funding is to ease the mounting financial pressure that you face as you wait for your negotiations to settle or your lawsuit to work its way through court.
Beat the Insurance Companies by Taking Away Their Leverage
In many personal injury settlement negotiations, the at-fault party’s insurance company will purposefully attempt to delay proceedings as much as possible. They know that you are put under more stress the longer negotiations last. Rather than being eager to take responsibility and help the victim, their goal is to pay as little as possible, and they hope that you will be more likely to settle for less than you deserve if you become desperate for funds to pay the bills they forced on you.
Pre-settlement funding puts the control back in your hands by removing this tool from the insurance company’s arsenal. When you have up to $100,000 in your bank account to spend as needed, you can wait out the insurance company’s stall tactics until your lawyer can work out the most beneficial deal possible. Or, if they will not settle for the amount you deserve, you can take them to court without worrying about keeping the lights on while the case is tried.
Get Your Personal Injury Finance Funding Now
Silver Dollar Financial is here to help if you are looking for a solution to financial woes during your personal injury case. Start the process by filling out the form on our Apply Now page and, within as little as 24 hours, you may be approved. Our process is transparent. We even have an online portal for your attorney to upload relevant documents, request additional funds if your original loan is getting low, and keep your data secure.