Motor Vehicle Injury Settlement Loan – Learn More
Lawfunder: Getting You Back on the Road to Financial Recovery
We know how devastating a car accident can be without a settlement loan. You may be out of work, have high medical bills, and to top it all off you’re spending countless time and energy fighting a court case with the party at fault. This can all make meeting your everyday living expenses a nightmare. Your healing is paramount, but you also have to pay the bills.
That’s where Lawfunder can help. We take care of your financial needs so you can focus on your physical and emotional well-being.
Insurance companies have more resources than accident victims, who are financially stressed and eager for resolution. They may try to pressure people to settle early and for far less than the deserved compensation amount. This enables accident victims to meet immediate bills but is not necessarily fair, as they are under financial pressure. Regrettably, this is often a successful tactic. Even if the defending party ultimately plans to settle, they may drag a motor vehicle accident lawsuit out in an effort to get you to settle for less.
Applying for a motor vehicle settlement loan with Lawfunder can eliminate this issue by giving you the upper hand in your case. Lawfunder takes pride in helping motor vehicle accident victims get the justice they deserve. We can give you an advance on your settlement to pay your medical bills, rent, food — anything that your inability to work is turning into a roadblock.
Your access to justice shouldn’t be based on financial resources. We help plaintiffs hold insurance companies accountable. Best of all, there are no repayments — until your case is finalised.
What is a Lawfunder motor vehicle settlement loan?
This is a short term personal loan which involves a motor vehicle accident victim.
Unlike in America, a lawsuit loan is an actual loan. Over there, motor vehicle accident loan companies buy a portion of your future settlement. In Australia, we do not do this. We assess the value of your claim if a loan is approved, we do not ask for any repayment until your case settles.
In the meantime, the cash upfront can help you pay for living and medical expenses if you’re injured and out of work, or just short on cash. This means that your lawyer will be able to take their time getting you a fair motor vehicle accident settlement.
What makes Lawfunder different?
Traditional banks and most non-bank lenders do not offer settlement loans. This is a specialised area and requires detailed legal knowledge of how these cases are run, the risks involved and the amount of damages that might be realistically obtained.
The main advantage of Lawfunder settlement loans is that you don’t have any financial pressure on you to make any repayments. You only make one at the end of your case and this is funded from the amount of compensation your lawyer has obtained for you. This enables you to focus on getting back on the road to recovery.
Because Lawfunder is conservative with funding, there is every chance that the amount of compensation you will receive will be more than enough to repay the loan, fees and interest.
Do I qualify for a motor vehicle settlement loan?
|1||You must be 18 years of age or older.|
|2||You have a lawyer working on your case on a No WIn No Fee basis – Firstly, having already hired a lawyer shows that your case is serious. We work directly with your lawyer, so they need to already be invested in the case. Second, by operating on a No Win No Fee basis, your lawyer is giving a professional seal of approval that your case is strong.|
|3||You’ve suffered a significant injury – If you have only suffered minor injuries, your compensation award will not be high. and may mean you will not have enough money to repay the loan. We will only lend money where we can conservatively estimate a sufficient compensation value to your injuries and loss.|
|4||The amount of damages will be sufficient to repay the loan, fees and interest, after payment of any government agency refunds, and your legal fees and expenses.|
|5||The other party must be liable ie at fault – We can only lend to plaintiffs with a strong case ie where someone else is primarily to blame. If there is confusion over who is at fault, we may not be able to approve you.|
|6||You have a legally worthy claim against an insured or self-insured person or entity|
Once you’ve qualified, we’ll reach out to your lawyer directly to see if we can approve your case for funding. Because motor vehicle accident loans often involve very clear and well-documented liability, Lawfunder frequently funds accident claims within 24 hours.
How much can I qualify for?
It’s essential to know how much you can expect to receive in a compensation settlement, after legal fees and other deductions. We will discuss this with your lawyer and how long the case may go, and how much of your settlement you may end up with. We can then loan a percentage of this sum.
No Lawyer – No Problem. You can find a good No Win No Fee Lawyer here.
The amount you qualify for depends on an estimate of your case value. Typically, Lawfunder usually advances 10% – 15% of the expected value of your motor vehicle accident claim.
Because our evaluators are practising motor vehicle accident lawyers, we’re able to provide this relatively unique type of funding. Due to the nature of such claims we only lend money if your motor vehicle accident claim is strong
Visit our Guide to Motor Accident Compensation Claims for more information.
If you have questions about Lawfunder settlement loans, you can learn more here.