Auto accident pre-settlement loans guide
Accident loans and the law.
Learn some of the detailed facts on how accident loans work, why funding companies exist, and some of the in-depth statistics about accidents and injuries in the United States.
Topics we will cover:
- Full list of motor vehicle accidents we fund
- Is an auto accident settlement advance right for you?
- The car accident cash advance evaluation process
- Auto accident statistics, and the law
- The insurance company and loans on car accident settlements
- Car accident loans near you
Full list of motor vehicle accidents we fund
Baker Street Funding provides legal funding for any type of motor vehicle accident lawsuits.
The following list contains some of the claims we mostly invest in:
Baker Street Funding provides accident financing for some of the following bodily injuries.
All victims with bodily injuries caused by traffic, air, or water-related negligences are welcomed to apply.
- Loss of Sight or Hearing and Senses
- Neurological Disorders
- Traumatic Brain Injury
- Coup Countrecoup Injury
- Anoxic Brain Injury
- Diffuse Axonal Brain Injury
- Trampoline Park Injuries
- Orthopedic Injuries
- Crush Injuries
- Forceps Birth Injury
- Cerebral Palsy
- Erbs Palsy
- Internal Bleeding
- Organ Damage
- Catastrophic Injuries
- Loss of Consortium
- Birth Injuries
- Knee Injuries
- Fire and Burn Injuries
- Scarring and Disfigurement
- Broken Bones and Fractures
- Vertebrae Fracture
- Compression Fractures
- Spinal Cord Injuries
- Disc injuries (ruptured, herniated, collapsed)
- Soft Tissue Injuries
Is an auto accident settlement advance right for you?
How are car accident victims are affected after a car crash?
Car crashes can leave victims injured for prolonged periods. Motor vehicle accidents can have a significant financial impact because they take years to settle in most cases. Many accident victims cannot pay for their most essential needs, such as food and shelter. Out of desperation, they may feel pressured to take an undervalued settlement from the insurance.
Why pre-settlement auto accident loans exist?
Pre-settlement loans for accidents exist to help plaintiffs get through financial difficulties with ease and get as many car accident loans as you may need (upon approval) until you successfully conclude your accident claim. Legal funding companies approve motor vehicle accident victims with advances against their pending lawsuits because an underwriting team of lawyers strongly believes your case is strong enough to win and pay back the cash advance.
Figuring out if an accident loan is what you need.
To make it easier for you, we have come up with some fundamental questions on why loans for car accident settlements may be the right fit:
- Is your ability to work close to impossible because of your injuries? We recommend applying for a car accident lawsuit advance only if you are at the point where you cannot work. Car accident settlement loans should only and solely be your last choice when all other options are not available. If your essential needs are met, then it is best to wait for your case to settle.
- Is the defendant’s insurance company blocking you from getting a better settlement? The truth of the matter is, if you can afford the insurance company’s delays, then you should not get a car accident loan(s). But if you are under massive debt due to the prolonged insurance settlement setbacks, then a car accident loan can help you. At the same time, you can wait for a better settlement offer.
The car accident cash advance evaluation process.
How do auto accident loan companies evaluate a case?
- Most of our car accident cash advance requests are approved within 24 hours of receiving your case file.
- Many times we can approve you as soon as we speak to your attorney.
- All auto-accident pre-settlement advance advances are no more than 20% of your car accident lawsuit's value for pre-settled accident claims and no more than 50% for settlements.
Approved bodily injuries:
Approved injuries include head and brain injuries, neck and back injuries, amputation, burn injuries, amputation; soft tissue injuries and broken bones; herniated disk; disfigurement, and scarring.
Once the car accident funding company gives your case a fair value, you will immediately receive a phone call from one car accident loan expert. If you decide to take the car accident advance, we will formulate a settlement funding contract for you and your attorney to execute. Lastly, upon dual execution of the accident loan agreement, we will send you the funds either by check, wire, or to your attorney’s office.
Remember that after the auto accident lawsuit funding has company carefully determined your chance of winning your lawsuit, you can have more hope in your case because the moment you get approved and receive the upfront car crash lawsuit cash advance, you might as well say your claim is as good as won.
Auto accident statistics, and the law.
Auto accident causes.
The most personal injury cases in the USA involve motor vehicle accidents. It usually happens when a driver was not following the rules; therefore, the careless driver could be held accountable for injuries caused by a car accident he initiated. Exceptions apply to “no-fault” states meaning drivers can only seek compensation from their insurance unless the accident caused serious injuries.
Emergency rooms get about $2.5 million Americans every year injured in motor vehicle accidents. $18 billion in a lifetime of medical costs are to blame on auto accidents. Over 1,000 people suffer life-changing injuries on the road every day of the year. Over 33,000 people are involved in fatal auto accidents each year, according to the NSC.
Leading causes of motor vehicle accidents:
- Drinking and driving
- Texting and driving
- Falling Asleep While Driving
- Poor Road Conditions
Injuries that motor vehicle accident victims suffer:
A car accident can leave you with life long painful injuries that can lead to job loss, the oppression of following your daily activities, and even permanent disability, which is why auto accident lawsuit loans become a lifesaver for injured plaintiffs. Common injuries include whiplash and other neck injuries, spinal cord and back injuries; concussions and other head injuries; knee, ankle, leg injuries, and brain and back injuries.
The insurance company and loans on car accident settlements.
Learn how the insurance works and how it can affect your loan on your car accident lawsuit settlement.
There is a reason why settlement funding companies always ask for one crucial piece of document, and that’s the defendant’s insurance policy. The value we give your case depends on the rules that govern every state.
Pure contributory fault:
Pure contributory fault is the insurance company’s favorite regulation. It determines the % of who was negligent within the accident. Under its rules, whatever was the amount you were negligent for, that amount will limit your recovery. In other words, if they decided that you were 92% at fault, your benefit is that you would still be able to recover 8% of your damages from the defendant’s insurance company.
50% modified comparative fault:
If you are 50 percent or more at fault for an accident, you cannot seek compensation for your injuries. Any less than 50 percent and you can collect, subtracting which percent was your fault.
51% modified comparative fault:
If you are 51 percent or more at fault for the accident, you cannot collect damages. This means if you’re hurt in an accident, and it was partially your fault, you still have a right to seek damages.
Uninsured motorist injury claim:
This type helps pay for harm when the other party doesn’t have liability insurance.
Regardless of who is at fault, this type of insurance covers medical costs. In no-fault states, personal injury protection (PIP) is required, and drivers are limited in their right to sue other drivers; therefore, PIP will not compensate you for pain and suffering.
Legal funding for car accident lawsuits helps plaintiffs, but does it help the insurance company?
An insurance company, in general, wants to offer you the least amount possible for your accident. Often, victims of motor vehicle accidents find themselves in challenging positions from losing homes, not working, and struggling to pay the main essences of life, such as electricity or food. Insurance companies have methods on how to get you to accept the least amount possible for your accident. Although pre-settlement funding for car accidents brings many benefits to struggling injured plaintiffs, some insurance companies don’t see it as beneficial for business. They end up paying plaintiffs MORE money if the victim can wait for a better offer. Accident victims who receive funds to support themselves can often say no to the insurance company’s undervalued offer and end up settling for a better award. This is the fundamental reason why insurance companies are against the car accident loan market.
Pre-settlement auto accident loans and negative advertising from insurance companies.
There are articles online advertising about how they care for plaintiffs; at the same time, they intend to take down the auto accident loans industry out of existence. Therefore, the plaintiff will have no choice but to settle for less. Don’t allow insurance companies to get away with offering you a low insulting so-called offer. Apply today for an auto accident settlement advance and get the help you need FAST. Remember, insurance companies are against car accident loans because we help victims like you.
Car accident loans near you.
Accident legal funding eligible states
We provide settlement loans for auto accident claimants in the states listed below. Baker Street Funding has minimum accident legal funding amounts for some states as per company policy. Please be noted that automobile accident loans are provided only in the United States of America.
Alabama, Alaska, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Massachusetts, Michigan, Missouri, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming.
- We currently fund Colorado at at minimum of $75,000. Case value must be at least $750,000+.
- North Carolina at a minimum of $25,000. Case value must be at least $250,000+.
- South Carolina at a minimum of $25,000. Case value must be at least $250,000+.
- Kansas at minimum of $25,000. Case value must be at least $250,000+.
- Kentucky at minimum of $15,000. Case value must be at least $150,000+.