What You Ought To Know About A Car Accident Lawsuit Loan

You may have suffered some personal injury from a car accident, your injuries could be quite extensive and you are not able to get back to work for a while, what do you do? Maybe you can borrow from the bank, or from a rich uncle-if you have access to such options then lucky you; if you don’t then read on.

What You Ought To Know About A Car Accident Lawsuit Loan

You will find, below, important information you ought to know before you think about getting that car accident lawsuit loan.

  1. How car lawsuit loans work

So, you have been in an accident, you don’t have that rich uncle and you aren’t on a first name basis with your banker. You have been in the hospital for a while now, so obviously you have not been to work for a while. You are cash strapped and you need cash fast to pay your hospital bill, rent for your home and other bills.

As you are sitting at the hospital wondering how you are going to sort things out, you see a TV advert about car accident loans. “Wow… that exists?” you think to yourself. The advert says all you need to do is:

  • Contact the lawsuit financing company
  • The lending company assesses your case, they determine your case is a winner
  • The company decides to give you the loan with certain terms and conditions
  • You go to court with your lawyer… If you win the case, the law company gets paid from the settlement or proceeds of your case,
  •  If you lose the case, you benefit because you got cash from the company and paid your bills. You don’t have to pay a cent for the loan. You are off the hook.
  1. What you should know about car lawsuit loans and any pre-settlement loan

So you are now thinking, what’s to lose anyway? Well, here is what you need to know.

  1. The cost of the loan is much higher than that of a bank, and I mean by much…find out how much.
  2. There could be other fees apart from the interest, find out what all the associated fees are.
  3. If they don’t mention that you need to bring your lawyer to assess and accept the documents for you, then that’s a red flag
  1. Where and how to find the best Car Accident Lawsuit Loan

Now that you know some of the hidden truths that the lawsuit company didn’t tell you about, it’s time to do some more research for yourself.

Since you are still in your hospital bed, the best place to look would be online. Start by looking for some background information at http://www.topconsumerreviews.com/lawsuit-funding/

Next step is to do a web search for some lawsuit funding company’s near you.

If you know all the facts then it is much easier to make a decision, you will be making the best choice based on relevant and important information that you have. With the above information, you could decide to go ahead and get that lawsuit loan or you may decide that it is not for you. Either way, only you know what’s best and remember hind sight is 20/20, so make a choice.

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