Can I Get Financial Assistance After A Car Accident?

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Financial assistance after personal injury accidents

Yes! With Baker Street Legal Funding, you can get financial assistance after a car accident in the form of pre-settlement loans. Contact us at (888) 711-3599 to get the help you need.

How do you recover financially from a car accident?

The aftermath of a car accident can bring a tough financial situation to many injured plaintiffs in the United States. The injuries sustained due to a car crash can potentially leave a person temporarily or permanently disabled and unable to afford their most basic expenses.

The good news is that victims involved in car accidents are entitled to file a lawsuit and claim medical expenses, loss of income, psychological trauma, and pain and suffering. However, depending on the severity of the accident, a personal injury case can take six months to two years to settle and payout.

During the pendency of a lawsuit, financial assistance such as emergency loans, unemployment benefits, religious charities, health insurance, and asking friends and family for money is available. But when these options are not enough to cover the immediate expenses that result from a car accident, turning to pre-settlement loans can be a great idea. This could be especially useful for plaintiffs who need the cash now after they’ve exhausted all other options.

Let’s dive into exactly what pre-settlement funding (or a pre-settlement loan) is, the benefits of pre-settlement funding, and how to apply for this type of financial assistance after being involved in a car accident.

Pre-settlement funding, a form of financial assistance for car accident victims

For plaintiffs in need of financial assistance after being involved in a car accident, a pre-settlement lawsuit loan (or pre-settlement funding) can help.

What is pre-settlement funding? Pre-settlement funding is a form of financial assistance for plaintiffs after being injured in a car accident. Also known as non-recourse legal funding, pre-settlement funding is risk-free. The best part is that you are not tied to the debt unless you win compensation for your claim.

For plaintiffs with catastrophic injuries, legal funding also helps them not settle a big case for an undervalued compensation offer from the insurance. Insurance companies are known to offer low-ball settlement amounts to desperate victims involved in major accidents, and their delaying tactics pressure them to settle their case for less than what it is worth.

With pre-settlement funding, the financial assistance a car accident victim receives can help them settle the case for maximum value.

Applying for car accident financial assistance

First, and as with any financial commitment, you need to apply and provide accurate information about your litigation and basic data about yourself.

Next, a legal funding specialist will contact you to finish qualifying your claim, followed by a call to your attorney to provide all required case documentation. From this point on, it takes 24 hours from when your lawyer provides your case file to have a funding decision.

If you get approved, you can get the financial help you desperately need hours after you and your lawyer sign the loan contract. Once we receive it, the money is deposited in your bank account the same day or sent via a check to be received the next business day.

What are the approval amounts?

You can get much higher amounts than traditional loans, as long as your case is strong enough to win and the injuries caused by the auto accident require surgery.

Most legal funding companies will approve you for up to 10% of what they think your case is worth at the present moment. For example, if your case is currently worth $50,000, you can be approved for up to $5,000. Let’s say three months from now you get an offer from the defendant’s insurance for $100,000; then, you can get no more than $10,000 in funding.

What types of car accident cases qualify for financial assistance?

Baker Street Funding provides financial assistance for most types of car accident cases and injuries, including:

The takeover

It’s worth mentioning that once you decide to fund your lawsuit, look for a funding company that’s offering low rates and expert service.

That’s Baker Street Funding.

When Baker Street Funding provides you with a settlement cash advance, we offer you capped rates which mean less stress at what’s already a difficult time. Work with Baker Street Funding and get a fixed interest with a 2 to 3 year capped rate, so even if your case settles five years down the road, your interest rate will end in the second or third-year cap.

Non-recourse settlement financing from Baker Street Funding allows you to handle what needs attention now, such as healing your injuries and paying daily costs, and repay the advance only if you win your case.

You can resolve your difficulties early and quickly – and breathe easier knowing you can take the time you need to get medical treatment, pay your necessary expenses and potentially avoid settling your accident case for less.

Apply for a lawsuit loan in minutes online. Or call (888) 711-3599 to apply. 

At Baker Street Funding, we give you the inside scoop on pre-settlement funding by covering a variety of ... financing and legal topics to help you made the best financial decision for you and for your case. Our experts break down complex ideas in a way that's easy to understand so you can stay informed on current trends as well as tips and fact checked information by the CEO and founder, Daniel Digiaimo. Furthermore, Despite its name, consumer legal funding is not a loan. If you don't win your case, no payment needs to be made back. To avoid confusion and simplify matters on, we'll use the word "loan" throughout this article.

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