Whether mild or severe, spinal cord injuries tend to change lives. About 296,000 Americans are living with spinal cord injuries while 17,900 new cases appear every year. The leading cause of these injuries is motor vehicle crashes, followed by falls and acts of violence.
Spinal cord injuries are often caused by another person’s negligence. Unfortunately, it can take months or even years for the injured party to receive compensation. Meanwhile, medical bills keep piling up. That’s where spinal cord injury lawsuit loans come in.
At Silver Dollar Financial, we offer spinal cord injury victims financial support while they are waiting for compensation. To learn more, please contact us at any convenient time.
What Is a Spinal Cord Injury Lawsuit Loan?
If another person’s negligence caused your spinal cord injury, you are entitled to compensation. The amount usually depends on the severity of your injury, the amount of pain and suffering, future medical expenses, the ability to continue working, and much more.
No matter how straightforward your personal injury claim may seem, it can take between five and nine months to settle. Some cases take two to three years. During this time, you have to cover medical bills, pay for physical therapy, and struggle with other financial obligations, especially if you can’t return to work.
A spinal cord injury lawsuit loan (also called a pre-settlement loan) is a cash advance you receive from a lender based on the strength of your case. You can get the money immediately after approval and repay it only when you receive compensation.
How Do You Qualify for a Spinal Cord Injury Lawsuit Loan?
Qualifying for a spinal cord injury pre-settlement loan with Silver Dollar Financial is easy. Your credit score doesn’t affect your chances of getting this type of loan so all you need to have is:
- A personal injury claim
- An attorney working on your case
Once you are approved for the spinal cord injury lawsuit loan, you can get the money within 24 hours. The maximum amount is $100,000. In case you take out less than $100,000, you have an opportunity to apply for an additional loan if:
- You feel like you need additional funds to maintain a reasonable quality of life.
- Your case is taking longer than initially expected.
Before applying for a spinal cord injury lawsuit loan, you need to speak with your attorney. Your personal injury lawyer can help you figure out the amount of funding. You should have a clear idea of how much financial support you need to avoid paying unnecessary interest.
Why Should You Apply for a Spinal Cord Injury Lawsuit Loan?
Besides the need to cover medical bills and other injury-related expenses, you may want to apply for this type of loan because:
- Spinal cord injury cases can take a long time – while you are waiting for the settlement, you don’t need to struggle with financial issues. A loan can cover your expenses and allow you to start your recovery as soon as possible.
- You need an upper hand during negotiations – since spinal cord injury victims are often desperate for financial support, they tend to accept low settlement amounts. With the money in your hands, you can wait for your attorney to negotiate a better deal.
- You don’t take any risks – you only repay the lender when you win your case. If you lose, you don’t have to pay anything back.
Applying for a spinal cord injury pre-settlement loan at Silver Dollar Financial is fast and free. You can get the money within 24 hours after approval.
Spinal Cord Injury Lawsuit Loans vs Personal Loans
Some personal injury victims choose personal loans to cover their injury-related expenses. However, this approach isn’t always superior. Here is why:
- You need to repay a personal loan even if you lose the case.
- A personal loan requires a good credit history.
- Personal loans can take several days to approve.
- You need to repay personal loans in monthly installments instead of waiting as long as you need for the case to play out.
- Personal loans often require collateral.
While personal loans can be an excellent choice for covering personal expenses, they aren’t always beneficial for personal injury cases. Spinal cord injury pre-settlement loans are designed specifically to cater to the victims’ needs while they are waiting for the settlement.
How Can You Spend the Spinal Cord Injury Lawsuit Loan Amount?
There aren’t any limitations on how you can spend the amount provided by the lender. You aren’t obligated to use it for injury-related expenses.
You can pay rent, make car loan payments, buy groceries or do whatever needs to be done to simplify your life.
Can You Repay the Loan Before the End of Your Spinal Cord Injury Case?
You can repay the loan at any time. However, it may not be a good idea to rush into repaying the loan before your case is over. While you are highly likely to win the case, there is always a small chance you may lose.
If you lose, you don’t need to repay the spinal cord injury lawsuit loan.
Is a Spinal Cord Injury Lawsuit Loan Right for Me?
You may want to consider taking out a spinal cord injury pre-settlement loan if:
- You can’t work after the accident.
- You need continuous care after the accident.
- Your injury-related and regular bills are piling up.
- Your case is taking longer than expected.
If you aren’t sure, speak with your personal injury attorney. They can help you understand whether a loan is a good idea in your situation.
Apply for a Lawsuit Loan Today for Free with Silver Dollar Financial
If you decide that a spinal cord injury lawsuit loan is right for you, Silver Dollar Financial is here to help. With our assistance, personal injury victims can wait for compensation without financial struggles.