What You Can Do If You Need Money Before Receiving Your Car Accident Settlement
After you go through a car accident that leaves you injured, there is a chance you might run short on cash while you are waiting for your settlement to come in. If so, this can put you in a tough position, but there might be ways to get some cash while you wait. Here are three things you should do if you need cash before your settlement arrives from your car accident.
Utilize your own insurance policy
If you have injuries, you will need medical help, and medical services are not free. The good news is that you can use your own health insurance policy to pay for these services if you have health insurance. By doing this, you may only encounter small medical bills that you must pay for instead of huge bills that you could not afford. If you use your own policy and the other driver is determined to be at-fault, you could collect money from the other driver's insurance company to repay your insurance company for the claims they paid.
Talk to your lawyer about this problem
A second option is to talk to your personal injury attorney about this. For example, if you are out of work because of the injuries you have, let your lawyer know that you are unable to pay your bills because of this. Your lawyer might have some options to help you get cash right away to help you pay your bills and survive as you wait for the case to settle.
Consider a pre-settlement funding loan
If all else fails, there is one other option you could consider using to get cash before your settlement. This option involves getting a pre-settlement funding loan, and this is also called a lawsuit settlement loan. A lawsuit settlement loan is something that offers money to a person who is in the midst of a personal injury case. Personal injury cases can take years to settle, and that is why these loans are available. If you borrow money through a lawsuit funding loan, you will not have to repay the money at any point. Instead, you would just receive less compensation when your case eventually settles, yet you would have cash to live on while you are waiting.
If you are in a bind for cash and are struggling to survive, talk to a personal injury lawyer about your case and your situation to find out what options you have.