Do I Qualify for a Slip-and-Fall Accident Loan?
Slip-and-fall accidents can result in serious injuries. In some cases, you may be forced to take time away from work as you undergo treatment. Full recovery can take weeks, months, or even years depending on the nature of the injury.
In the wake of a slip-and-fall injury, many endure significant medical costs and lost wages. Both put you under financial stress. You may later recoup these losses through a personal injury lawsuit or claim for compensation but until your claim is settled, you have bills piling up.
This is where a slip-and-fall accident loan can help you. It is also known as slip-and-fall pre-settlement funding.
What Is a Slip-and-Fall Accident Loan?
A slip-and-fall accident loan is a type of financing that allows you to receive funds against your lawsuit.
Unlike conventional loans, you don’t have to make recursive payments. Instead, you will make one single payment. This payment is warranted when and if your lawsuit is settled. If the lawsuit is successful, you pay back the loan with an additional agreed-upon percentage. If the lawsuit fails, you are not obliged to pay back anything which makes pre-settlement loans risk-free.
How Much Is a Slip-and-Fall Loan?
The actual amount of loan available for your slip-and-fall lawsuit depends on the circumstances of your lawsuit.
When determining the available amount of a pre-settlement loan for a slip-and-fall accident the funding office and your lawyer will take into account the damages your lawsuit is pursuing.
Benefits of a Slip-and-Fall Accident Loan
A slip-and-fall accident loan offers numerous advantages. Here is a look at these:
- The loan helps you cover the medical costs, lost wages, and other immediate expenses
- You don’t have to repay the loan out of your pocket
- You have to pay the loan once when your lawsuit is successfully settled
- You know the specific amount of money you have to pay back
- You can use the money for whatever you want
These benefits make lawsuit loans a viable option if you need help to stay afloat while waiting on your slip-and-fall compensation. However, there are some downsides to it as well. Some funding companies may charge exorbitant percentages on the original amount. The loans are also not regulated as strictly so the terms and conditions may not be very clear.
For this reason, we pride ourselves on transparency when working with injury victims in our community.
Get a Slip-and-Fall Accident Loan Today
Call us now at 702-623-3333 to discuss your claim and see if it qualifies for an accident loan.