According to the stats from NHTSA, traffic accidents are the leading cause of injuries in the US. Each year witnesses 2 million cases of accidents in the USA. Of course, you can file for car accident claims and get handsome financial compensation. However, these cases can take ages to materialize. Plus, the steps involved can be lengthy—taking years to be concluded. However, this shouldn’t stop you from carrying on with your life. With a car accident pre-settlement funding, you have a loan facility that will get you back on track within no time. Along these lines, this article is going to take you through pre-settlement funding and how you can get your loan the shortest time possible.
Qualifications for a Pre-Settlement Loan
Different loan issuing companies have different standards regarding the qualification for a car accident loan. However, these two factors are used to assess your eligibility for a car accident loan.
- Severity—the lender will assess the severity of the injuries caused. This will determine the amount you can be given as a loan.
- Liability—the lender will also assess the likelihood to prove liability. Thus, if your chances of winning the case are higher, you stand to get a higher loan.
It’s also important to note that strong legal cases will get you a higher amount of loan. Plus, if the injuries you suffered are severe, you qualify for a higher amount of loan.
How to Use a Pre-settlement Loan
You can get a pre-settlement loan and use it to settle the following expenses:
Medical care—a pre-settlement loan can be used to settle bills arising from medical care. This includes the expenses of hiring caregivers and visiting rehabilitation centers.
Mortgage or rent payments—if you had a pending mortgage loan before the accident, a pre-settlement loan will cater for this loan. Also, this loan can help you settle rent bills. You can also use this loan to settle utility bills.
Ordinary living expenses—the loan can be used to offset the day to day expenses. Thus, things like food, leisure, etc. are catered by this loan.
Legal fees—this loan can be used to settle legal fees. Remember, the cost of sustaining a legal lawsuit can be high. Seeing it to completion takes a lot of money. You need to pay the lawyer and even travel to the court for hearings.
Why Pre-Settlement Loans
Pre-settlement loans are convenient and easy to access. Plus, you don’t get subject to credit score background check. Plus, it takes a few paperwork before the money hits your account. In a nutshell, pre-settlement loans can be your lifesaver during a road accident. Remember, this is an emergency. You need things done faster. Get your loan today and get things back to normalcy.
You don’t have to wait for a car accident settlement that takes ages to conclude. Waiting will jeopardize your life. Get American Pride Car Accident Loans and lead a normal life again. The above information is all you need regarding pre-settlement funding.