Car accidents often bring many difficulties—financially, physically, and emotionally. Fortunately, you can receive financial assistance with the help of a car accident loan.
Apply now to see if your case is eligible for a cash advance.
Our team can help you find a legal lender that offers the best pre-settlement auto accident loan.
What is a Car Accident Loan?
Auto accident settlement loans are not what you may think.
“Loan” implies you must repay the money lent to you at some point. Car accident loans are different. Accident loans give you the money you need while your lawsuit gets resolved.
If you lose your case, you don’t owe your lender any money.
Are Car Accident Loans and Cash Advances the Same Thing?
You may hear ‘car accident loan’ and ‘car accident cash advance’ used interchangeably. Essentially, the two are the same thing. You apply for a car accident loan and get your cash advance for your pending lawsuit.
If you win your case and receive a settlement, you pay back the loan with a portion of your settlement. If you lose your case, you do not owe any money back.
Why Should You Consider a Car Accident Settlement Loan?
There are many reasons to consider applying for a car accident loan.
Some of the most common reasons include:
- You’re unable to work;
- You need help paying bills; and
- Your lawsuit will take some time to resolve.
A car accident loan can also hold you over financially, giving your attorney the time they need to fight for fair compensation. A cash advance for an auto accident can solve many of the issues you may face after an accident.
How Do I Quality for an Auto Accident Loan?
Qualifying for a car accident lawsuit loan varies from other types of loans.
While every lending company has different standards, your qualification will depend on:
- The severity of your injuries;
- The likelihood of proving liability; and
- Whether you’ve hired an attorney.
Qualifying for a loan after a car accident won’t depend on your credit score; it will depend on your personal injury case.
How Much Cash Will I Get From My Loan?
How much money you’ll get from accident settlement loans can vary by lender, but typical loans range from $500 to $250,000.
Your loan amount will depend on the severity of your injuries and the value of your case.
How Fast Can I Get a Loan?
How quickly you get your auto accident settlement advance depends on the lender, as some lenders will need to review your case and talk to your attorney.
However, once you are approved, many companies provide funding within 24 hours. If you’re looking to get a car accident settlement loan, don’t delay and apply today.
Will Getting a Pre-settlement Auto Accident Loan Result in a Larger Settlement?
Getting a pre-settlement cash advance can result in a larger settlement for you.
Auto accident lawsuits take time, as your attorney needs to gather evidence and build your case.
In many cases, people want to rush the process, often settling for a low or unfair settlement to get their money more quickly.
Automobile accident loans can help keep you financially stable while you allow your attorney to work diligently on your case, many times resulting in a higher settlement.
What Can I Use My Loan Money For?
There are no rules for how you use your accident loan.
Typically, loans for car accidents are used to pay:
- Medical expenses,
- Living expenses,
- Various bills, and
- Legal fees.
Auto accident cash advances can allow you to feel stress and worry-free, knowing you have enough money to pay for all your expenses while your lawsuit is pending.
What Factors Affect Interest Rates?
Interest rates often depend on the specifics of your case. An automobile accident loan is not affected by your credit history or credit score. Many lenders will base their interest rates on the value of your case and the chances of winning a settlement.
Are Car Accident Settlement Loans Risky?
There is minimal risk associated with auto accident loans. There is no risk of damage to your credit score, and you do not need to repay your loan if you don’t win your case. Pre-settlement cash advances offer more reward than risk.
Is an Accident Loan Right for Me?
Pre-settlement loans for an auto accident lawsuit may be right for many people, including those that:
- Are severely injured;
- Are unable to work and make an income;
- Have many expenses and bills to pay; or
- Simply need more time for a better settlement.
If you find yourself in any of the above situations, a car accident loan may be right for you.
Why You Should Work With Injury Wallet
At Injury Wallet, we understand the difficulties that come after a car accident, and we’re here to help alleviate some of the stresses and burdens. Our team connects you with lenders who can offer you the lowest rate on a car accident loan.
We want to give you the best chance at getting auto accident pre-settlement funding, giving your attorney the time they need to work on your case. A car accident loan can result in a better settlement, and we want to see you get the compensation you deserve.
Ready to Get Started? Apply Today
After a car accident, don’t hesitate to get a car accident cash advance. You don’t have to struggle now while you wait for a settlement later. Injury Wallet offers free consultations. Contact us today, and let’s get started.