How Can Pre-Settlement Funding Help Cover Medical Expenses After an Accident?

How Can Pre-Settlement Funding Help Cover Medical Expenses After an Accident in Missouri?

No one ever plans for a car accident to happen, and when it does, the resulting physical and financial toll can be overwhelming. In fact, data from the National Safety Council suggests that the average economic cost of a severe car accident resulting in evident injuries is as much as $40,000.00. Even if you have a strong case and an ongoing lawsuit, it might be a while before you can access your funds, leading to further stress and financial strain.

This is when considering pre-settlement funding may be a feasible option to obtain the money you need to cover medical expenses related to your car accident until your final settlement is paid out. Get an overview of how cash advances for lawsuits can help you after a car accident and learn the steps you can take to alleviate the financial burden of your accident.

What is Pre-Settlement Funding?

Pre-settlement funding is a financial option available to those who suffered a personal injury (such as in a car accident) and have an ongoing case. It provides a cash advance to cover medical expenses and other financial burdens resulting from the accident while the case is still pending and a settlement is not yet available. In other words, it allows accident victims to access the funds they need immediately instead of waiting for their settlement to be finalized.

This type of funding is considered a non-recourse cash advance, meaning it is not a loan and does not need to be repaid if the lawsuit is unsuccessful. Pre-settlement funding can be a lifeline for those struggling to pay for medical expenses and other costs after a car accident, making it a viable and low-risk option to access much-needed financial relief during a difficult time.

How Can Pre-Settlement Funding Help Cover Medical Expenses After a Car Accident?

Medical bills don’t stop just because you are waiting for your case to settle. In addition, you may still be dealing with all your other basic living expenses, such as grocery bills, car payments, rent, or mortgage. In addition, you may also need funds to cover attorney and court fees for your case.

Pre-settlement funding can offer significant financial relief for car accident victims because it allows them to obtain the immediate cash they need for medical treatments, rehabilitation, and basic living expenses. This can be immensely beneficial for those car accident victims whose injuries require them to be hospitalized and spend time away from work because they cannot perform their regular job duties.

What Are the Benefits of Choosing Pre-Settlement Funding over Other Options?

Concerning covering medical expenses after a car accident, pre-settlement funding offers several advantages over other options. First, lawsuit advance loans are not based on creditworthiness or employment history, unlike traditional loans. This means that even if you are unable to receive a loan from a bank because you have a poor credit score or are currently unemployed, you may still be eligible for funding.

In addition, pre-trial monetary assistance is non-recourse, meaning you are only required to repay the advance if your settlement is successful. This removes the risk of taking on additional debt and being stuck with high-interest rates and bank fees. You only need to repay the amount you received once your case is won and you receive your settlement money. Finally, there is a minimal wait time required to receive your money after your pre-settlement funding application is received, meaning you may be able to have immediate financial relief.

How Can I Apply for Pre-Settlement Funding in Missouri?

In order to apply for pre-settlement funding with Blue Fox Funding, LLC, it is important to observe a few simple requirements set forth by the state of Missouri. First, you must be represented by a licensed attorney, and your case involves an injury or accident lawsuit that has a good chance of reaching a favorable verdict and may likely result in a settlement.

The application process is fairly simple and does not require any credit checks or employment verifications. We can work with your attorney and evaluate your case to determine if you qualify for funding. If approved, you will receive an offer detailing the amount you are eligible to receive. Once you accept the offer, the funds can be disbursed quickly so you can take care of your medical expenses and put your focus back on recovering and getting back on your feet.

What Should I Look for When Choosing a Pre-Settlement Funding Company?

When it comes to choosing a pre-settlement funding company, there are a few key factors to consider. First and foremost, you want to make sure you are working with a reputable company that has a track record of success. Look for a company that is well-established and has positive reviews from past clients. Blue Fox Funding, LLC, is local and has served countless clients in the Midwest, securing the funds they needed while waiting for their lawsuits to settle.

In addition, consider choosing a company that offers competitive rates and transparent terms so you know exactly what you are signing up for. Lastly, excellent customer service is a must. You want a company that is responsive, reliable, and easy to communicate with. At Blue Fox Funding, LLC, we focus on making the process of securing your pre-settlement funding easy, transparent, and headache-free. Contact us at (618) 350-4581 for free funding evaluation to learn more.