Lawsuit Loans for Auto Accidents

Are you an individual recently injured in an auto accident and wondering whether your case qualifies for a lawsuit loan? If that is a case for you, we’ve provided information intended to assist you in making a determination as to whether your case would qualify for such funding.

A good broker will be happy to assist you in obtaining the settlement loan you seek. You may rest-assured that your broker will do everything to assist you in obtaining that funding as quickly as possible! The benefit, of course, of using a broker’s services is that you will not be tied to just one single funding source.

However, to obtain that funding is soon as possible, it is necessary that you work very closely with your broker. To increase the speed at which you are able to obtain the lawsuit loan, it will be necessary for you to obtain certain documents that may be reviewed to assess both the strengths and weaknesses of your case and to make a determination as to what the settlement value of your case truly is.

If you’re fortunate enough to find brokers experienced in handling cases similar to the one that you present, this will greatly assist you in obtaining the best possible lawsuit loan. If you take care in your selection of a broker, it is possible that you’ll find a team of individuals who are experienced in handling many cases that are similar to the very case for which you’re seeking funding, and work with you to find the best possible funding source.

Individuals injured in auto accidents will find that their claims are classified as “auto accident” cases. Those who are injured in such accidents, particularly those who wish to increase the speed at which they are able to obtain a lawsuit loan, will find that it’s necessary to provide certain documents to the broker:

Police report: The police report is essential in identifying responsible parties. Upon reviewing the police report, brokers will be able to identify the parties injured, as well as the responsible party. It will also identify various insurance carriers, observations at the scene, and other documentation. (Police reports commonly contain information regarding injured parties. One should not be concerned, however, if the police report does not contain any information regarding injuries. Remember, police officers are not trained in the evaluation and diagnosis of injuries at the scene. Many police officers conclude that if either no blood is evident or parties are able to exit their vehicles at the scene, no injuries occurred.)

Adverse insurance information: The term “adverse party” refers to the individual, in most cases, who caused the injuries. It is necessary to find out who is at fault and who will be responsible for paying the settlement you may be awarded.

Demand Letter and Medical Expense Summary: If you intend to obtain a settlement, it will be necessary for you to demonstrate what damages you sustained. The Medical Expense Summary will be a good way for you to convey that information. Your attorney will prepare the Demand Letter, a document that will be submitted to the payer (e.g. insurance company) for review and to allow the party deemed responsible an opportunity to determine whether they intend to offer some money on the claim or intend to deny that claim. If the latter occurs, it is very likely that this case will be submitted for litigation. Litigation is merely a term that’s used to indicate that the case will be going either to court or to an administrative proceeding.

The Summary of Medical Expenses is a document that contains information such as the hospital/emergency room records, admission and discharge summaries, as well as any operative reports, and doctor’s reports. When you file a claim, it is very important for you to clearly identify the foregoing information. If you fail to do so, it is very likely that your claim will be severely compromised.

Insurance coverage that you have: To be able to provide the lawsuit loan you’re seeking, the broker must know what insurance coverage you have (e.g. health insurance, uninsured motorist, med pay, PIP, etc.). Once again, if you failed to disclose the information, you may find that your case will not be funded. Subrogation is a process that occurs in many cases and it allows, for example, insurance carriers to demand repayment of any monies paid on your claim during the course of litigation. If you wish to succeed in obtaining your lawsuit loan, you must clearly identify other funding that has been obtained, as well as funding sources that are available to you.

In the case of any prior loans/advances, your broker must be able to verify that those loans/advances have been repaid prior to considering any additional funding: To clearly make a determination as to whether your case qualifies for a lawsuit loan, it is important for you to be candid with your broker regarding any such loans/advances. If you work closely with your broker regarding this matter, it does not have to be an impediment to your success.

If you want to increase the speed at which your lawsuit loan is provided, work very closely with your broker! Many brokers are going to allow you to submit the documents to them without further expense to you by providing a toll-free number. In most cases, requested documents may easily be submitted to the broker via either facsimile or e-mail.

Looking to find the best deal on lawsuit loans, then visit us to obtain the best advice on how a lawsuit loan will benefit you.