‘Accidents happen’ is a common phrase used to describe something unforeseen or unexpected occurring. This expression can be related to a wide variety of situations, but what happens when that ‘accident’ leaves someone unable to work their job? What happens when an insurance claim is filed but denied? What other options and avenues exist for victims in need of financial compensation after an accident?
As victims know all too well, living expenses and medical bills don’t put themselves on hold just because resources are thin. Insurance companies can deny a claim for a variety of reasons, such as not seeking immediate treatment for an injury suffered in an accident, or having an expired policy. The next option is to sue for damages caused as a result of the accident, either against a person or business. Lawsuits take months, or even years to ever see resolution, and most lawsuits will eventually settle out of court, but that still requires more time and money. If this sounds like a situation you’re now facing, advance financing can help lessen the stress of the situation.
Pre-Settlement Funding: A Possible Remedy for Deceptive Insurance Practices
Insurers often go to great lengths to protect their bottom line. Some of their most popular tactics include denying or delaying claims, hoping the policyholder will just give up (or, in the case of elderly claimants, pass away). Insurers may also cancel a policy without explanation, or resort to retaliation when challenged.
Injured plaintiffs are often unable to work and will be faced with mounting expenses and no income. Insurers bank on this fact to pressure into, personal injury sufferers may settle for far less than they deserve, because they can’t wait for a fair resolution.
Pre-settlement funding allows personal injury plaintiffs to receive an advance on their anticipated settlement or award of damages in a pending lawsuit. With this resource, you may be able to cover living expenses, such as:
- medical bills
- groceries
- housing and utilities
- auto repairs or transportation to and from doctors’ appointments
A settlement advance provides you with the cash you need to tide you over while your case makes its way through the court system, taking the pressure off of you to accept a hasty, less-than-fair settlement.
How Advance Financing Works
You can think of advance financing as a cash advance on your settlement, or award of damages. Advance financing is nonrecourse funding, you only have to pay it back if you win your case. To get an idea of the monetary award you may be able to expect, you can use our personal injury calculator. Then, you can apply for advance financing online. There are no credit checks or up-front fees. Your anticipated settlement amount serves as collateral. To learn more about how LawCash may be able to help, contact us, or apply online today.