Truck Accident Loans: Get the Money You Need to Cover Your Expenses Cause Because of Truck Accident
When you’re involved in an accident with a truck, you may feel like your entire life has been turned upside down.
Medical bills pile up, and your normal living expenses just get harder to pay while you’re trying to recover from your injuries.
A truck accident lawsuit loan can help alleviate this stress by providing financial assistance to cover these extra expenses so that you can focus on getting better and taking care of yourself and your family during this difficult time.
Read on to learn more about the benefits of truck accident lawsuit loans and how to find money to pay for the expenses associated with your accident.
What Are Truck Accident Lawsuit Loans?
One way you can cover the costs of a truck accident lawsuit is by using lawsuit loans.
These are not regular loans from your bank but funds made available for those in need.
A plaintiff who has cases against drivers of
- 18 Wheeler
- Semi Truck
- Commercial Vehicle
- Tractor Trailer
- RV vehicle
Can apply with us for quick cash advances.
Is lawsuit funding a safe option?
America lawsuit loans give cash advances at low-interest rates in the legal financing industry, and your credit score won’t be looked at, which means it doesn’t matter if you have great credit or terrible credit.
In most cases, pre-settlement funding on truck accident cases are paid back with a percentage of the settlement money you receive following your case’s resolution.
As with any financial investment, there is some risk involved with using this type of loan.
For instance, if you could not make monthly payments on time, then the lender could take possession of any settlement money you were entitled to.
It is always recommended that you discuss these types of loans with an attorney before committing.
Speaking with a bankruptcy lawyer about your debt situation before taking out a lawsuit loan may also be beneficial.
If bankruptcy might work better for your needs, it will save you time and money in the long run.
However, when dealing with injury settlements where expenses pile up quickly and don’t stop coming in like paycheck after paycheck (even after settling), getting low cost lawsuit loans may seem like the only option left open to help get through until your claim settles.
Getting Truck Accident Pre-settlement Funding; understand
Before applying for a lawsuit loan, you should contact a truck accident attorney to discuss your legal situation.
Most lenders will want proof of your employment as well as documentation showing how you’re currently receiving disability income.
Your doctor must certify that you cannot work and that medical conditions prevent you from returning to work.
If an insurance company refuses your claim and pays only a small amount, this may be considered enough proof.
You must also show that you don’t have any assets or other resources available for handling these costs.
Many lawsuits will take time to settle, so ensure you’re aware of what could happen if there’s no settlement.
The average cost of a truck accident case is $5,000 but can go up depending on the severity of injuries.
Lawsuit loans typically range from $1,000-$100,000.
Some applicants will get approved for loans before they even know if they’ll receive a settlement.
Interest Rate On Semi Truck Accident Loans
Compensation can be a long process, and with legal fees and other expenses that quickly stack up, you may need a cash infusion to keep your business afloat.
In these situations, truck accident lawsuit loans could offer an affordable solution with which you can continue with your daily routine while waiting for the compensation process to complete.
Interest rates are higher on truck accident loan products than traditional credit cards or loans – typically in the range of 18% – 29%.
But when your only alternative is waiting around while watching your savings dwindle before your injury claim settlement even touches them, these interest rates may feel like a bargain.
Benefits of Legal Funding For Truck Accident Lawsuits
Legal funding is a way of securing loans for your truck accident lawsuit or other legal claims.
There are many benefits of taking out a legal funding loan, including how much money you can borrow and how flexible the payments are.
Legal funding allows those with pending lawsuits to secure the necessary funds without having to worry about going into debt.
It has several advantages, such as providing access to cash that would otherwise be unavailable through a bank loan and making payments based on the lawsuit’s progress rather than when it settles.
This type of financing is an excellent option for those who want cash quickly for their pending suit. Learn more about this financing option in our blog post about what legal funding is!
Truck Accident Loans Qualification
If you have suffered an injury in a truck accident, you are eligible for lawsuit funding up to $100,000 in case of no-fault injuries.
Unlike other types of loans, lawsuit funding is not dependent on your credit score and does not require repayment if you lose your case.
The money can be used to cover your medical expenses, lost wages from time off work, and other necessary costs incurred as a result of your injuries.
A trucking company may be responsible for paying these costs because they caused the crash that led to the injuries.
If you’re interested in learning more about truck accident lawsuit loans or need help filling out an application form, call our toll-free number today at 888-335-3537.