Five Signs You Need a Car Accident Loan
If you’ve been in a car accident and are looking at a potential settlement, you know that becoming impatient is easy to do. You have bills that are owed, upcoming medical costs, loss of wages that need to be replaced, and much more.
Seeking other means of financial support is not uncommon for those waiting on their car accident settlement. One of the options that are out there is car accident loans. These loans can help put your mind at ease after an accident during a long settlement waiting period.
What Is a Car Accident Loan?
A car accident loan is a cash advance that is given through a financial company against a pending or potential settlement from the case of a claim. This means that the funding is contingent on having an existing settlement with a decent compensation amount.
The amount a person receives in their car accident loan depends on the amount of their potential settlement. They range from $500 to as high as $250,000 or more. If you don’t receive the potential settlement amount, you are not required to pay any of the amount borrowed back to the financial institution. These loans are considered risk-free due to this.
Your Living Expenses Are Overwhelming
If your living expenses are becoming too much for you to bear, you may be wondering how you can receive your settlement money faster. A car accident loan can help you not only pay monthly bills but also pay off those other bills that are nagging you every month.
Whether it’s your mortgage or car loan, you don’t want to lose any of your livelihood while recuperating from an accident. Having access to funds that help you pay for these bills can help you keep your home, your vehicle, and your lights on while you wait for your case to settle.
Medical Expenses Are Costly
If you’re dealing with serious injuries and costly medical bills, paying for them out of pocket can become expensive. Seeking compensation sooner to pay off these bills can help you rest assured knowing you won’t be stuck with them for months.
Sometimes, these medical providers may even threaten to stop seeing you if you don’t pay them. This loan can stop this from happening.
You Have Serious Pending Payments Due
Those who have to pay monthly payments, such as child support, do not want to miss those payments. A warranty can be issued for your arrest, and your license can be taken away if you miss these payments.
By seeking compensation through a car accident loan, you can put money in your account that helps you cover the costs of support, alimony, or other necessary monthly payments that need to be made.
You’re Unable to Work
If you’ve been injured seriously, you may be out of work for some time. If this happens, you need to replace the income you’d normally be making. A loan can help you put money in your savings to use throughout the months to pay for your everyday expenses.
You can pay some of your important bills ahead of time while saving money to help you pay for groceries and other items necessary for your survival. This loan money can help you get by while you wait for the actual settlement amount.
You Want to Move On
If you’ve been sitting on this proposed settlement amount for some time and you want to be done with it, you can sign up for a loan. This can help you put some of the bills and other things you need to pay behind you, allowing you to move forward and not feel stuck.
Medical bills, being out of work for an extended period of time, and other expenses can put you behind. Auto insurance is vital, but it doesn’t cover everything. This is not only stressful but also discouraging. A car accident loan can help you move ahead in your life and get back to the things you love, minus worrying about payments you need to make.
Seek a Car Accident Loan to Recover
If you feel you need a car accident loan, make sure you’re working with a reputable financial institution for it. You can find out what you’re able to get based on your current car accident compensation claim when you connect the financial institution with your law office handling your claim.
Contact Money First Funding by calling 702-623-3333 or filling out the online contact form. We will get a professional in touch with you as soon as possible to talk about your options. Help is around the corner. You don’t have to struggle on your own.