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car accident loans hit and run accidents
Of all the car accidents in which a person can be involved, a hit-and-run accident can be one of the most traumatic. Coming from out of nowhere, they are over almost as quickly as they happen. However, since the person responsible leaves the scene, it can make many aspects of your lawsuit much more complex. As a result, it often takes longer to get these lawsuits settled. Whether this is done in or out of court, the process can take many months, leaving you and your family facing a long period of financial uncertainty. Unfortunately, no matter how dire your financial situation becomes, creditors still expect to be paid, and various living expenses must still be met. To help with this, pursuing a lawsuit loan is a financial alternative many hit-and-run accident victims turn to while waiting for their cases to settle.
Not a Traditional Loan
While they are called lawsuit loans, they are not loans in a traditional sense. Rather, these are cash advances paid to victims based on the amount of money they expect to receive from their settlement. Offering very little risk since the money will not need to be paid back until your case is settled, money obtained in this manner can help pay bills and maintain a reasonable standard of living for you and your family.
Payment in 24 Hours
If you try to obtain a loan through a bank or other financial institution, it may take weeks to get approval, if this even happens. For many accident victims who are awaiting the settlement of their lawsuit, financial problems often result in credit scores taking a hit due to late payments or other circumstances. As a result, banks are often hesitant to approve loans for these individuals. However, by using a lawsuit loan service, you may be able to receive a cash advance on your settlement within 24 hours. By receiving payment so quickly, bills can be paid, children can be fed, and everyone can have greater peace of mind.
Don’t Worry if You Lose Your Case
While most people who pursue lawsuits pertaining to hit-and-run accidents are eventually able to win their cases, there are instances where a court may rule in favor of the defendant for whatever reason. However, if you are in need of funding while your case plays out, do not let this deter you from pursuing a lawsuit loan. In these situations, even if you lose your case after receiving your cash advance, you are not obligated to pay back anything.
How Much Will I Receive?
The amount of money you will receive in your cash advance will vary, depending mostly on the amount of money you and your attorney expect to receive from your settlement. While legal financing companies vary in terms of how much money they are wiling to pay, most pay at least $1,000, while many will pay up to $1 million if they consider your case to be worth the risk. In many cases, how much you receive will be determined after the funding company contacts your attorney to determine your case is valid and discuss various related details.
Will the Funding Company Determine the Results of My Case?
Absolutely not. Whether your case is considered relatively simple or extremely complex, the legal funding company will play no part in determining whether you win or lose your case. When the company contacts your attorney, it will be only to verify your case exists and to discuss the amount of settlement you are expected to receive. Other than this, any decisions pertaining to how your case is managed will always be strictly between you and your attorney.
Even if you and your attorney know you have an open-and-shut case, it will still take months to get the case settled. Because of this, chances are you and your family will be in need of money before the case is completed. Therefore, it may be a good idea to discuss the possibility of using a lawsuit loan service to help meet your financial obligations. With very little risk, quick payment, and no hassles regarding your credit score, this may be a viable way to get immediate peace of mind.