What is an asset based loan? An asset-based business line…
car accident loans drowsy driving accidents
A drowsy driving accident occurs when a driver was sleepy at the time they were operating a motor vehicle and caused a car crash. If you were involved and injured in a drowsy driving accident, you have a right to sue the at-fault driver. As a plaintiff in a drunk driving accident, you have the right to settle your case in two ways: out-of-court settlement and trial. Both can take weeks or months to reach a conclusion. What do you do if you need money now?
Seek a Drowsy Driving Accident Loan
It’s important to understand the difference between an out-of-court settlement and pre-settlement loan. An out-of-court settlement occurs between you and the defendant. You and your lawyer negotiate with the other party to agree to a fair compensation amount. The compensation typically covers your bills and other damages you sustained during your drowsy driving accident.
A pre-settlement loan, commonly called a drowsy driving loan, is different. You don’t wait for your lawyer and the other party to come to an agreement. You’re not required to wait until your trial is over to obtain the money you need. Instead, you contact a company offering pre-settlement loans.
You get the money you need now to cover bills and living expenses while waiting for the settlement or case to resolve. In fact, use the money for:
1. Rent payments
2. Legal fees
3. Medical bills
4. Car payment (or obtain a new vehicle)
5. Living expenses
How to Qualify for a Drowsy Driving Accident Loan
A pre-settlement loan has a list of requirements in order to get the loan. This is just like any type of loan. For example, you must have a valid legal claim against a defendant. The defendant can be an insurance company or a self-insured entity such as the driver who caused the accident.
It’s important to note that different companies may have different requirements. However, some general requirements include being 18 years old or older and having an attorney representing you in your case. Also, you must have sustained damages.
Bodily injury and other damages are required to calculate an estimated value of your drowsy driving lawsuit. This means that the amount of money you receive in a pre-settlement loan depends on the severity of your injuries and other damages.
No-win and No-Pay Pre-settlement Loan
A drowsy driving accident has a devastating impact on you and your family. In addition, you may sustain a financial setback because you can’t pay child support, tuition or other bills. The purpose of a pre-settlement loan is to help you minimize the financial impact of the drowsy driving accident.
A pre-settlement loan funding is commonly called “no-win and no-pay.” The term “no-win and no-pay” refers to a company not requiring you to pay the pre-settlement loan back if you don’t win your case. It’s the same thing used by personal injury lawyers working on a contingency basis. If your case is settled or you receive a verdict, you pay the loan back via that compensation. However, if you don’t win or settle the case, you’re not required to repay the loan. It’s important to ask the pre-settlement company you work if they offer no-win and no-pay loans.
You have the Right to Get the Money You Need Now instead of Later
The benefits of pre-settlement funding are numerous. For example, this type of funding offers peace of mind. You sustained serious injuries. Even if your injuries weren’t serious, the accident left your finances in bad shape. A lawsuit is your only legal recourse to get the compensation you need to recover the damages sustained in your accident. However, when you need money now, you have the option to obtain a drowsy driving loan. Contact us today.