If you have been injured in a car, truck or motorcycle accident, you may have a lot of medical bills. Even if you have a personal injury lawsuit to recover the cost of your medical care, that money is not in your hands yet. You may be unable to work and not have access to temporary or long-term disability payments. Even if you do, they may not be enough to cover your bills, including your mortgage, car payments, utilities and food expenses. When you still have to pay all those obligations, but there’s nothing coming in, what can you do?
At Bailey & Galyen, we have protected the rights of motor vehicle accident victims for over 28 years. We know first-hand how difficult it can be to simply survive financially when you can’t work because of injuries suffered in a car, truck or motorcycle accident.
A Cash Advance from Your Potential Recovery
One option available to many people is what is known as lawsuit financing. Under this type of arrangement, a financing company will advance money to you in exchange for a portion of any recovery you receive. Funds can often be in your hands within 24 to 48 hours.
You must qualify for this type of funding, though. Because your eligibility is based on the strength of your case and not on your personal credit, a credit check is not necessary. However, the financing company will meet with your attorneys and gather all necessary information to determine the quality of your case, reviewing the evidence, questioning witnesses and looking at all relevant documents, including:
• the police report
• medical records, such as bills or reports
• your contingency fee agreement with your attorney
• proof of the defendant’s insurance coverage
Your lawyers may have a vested interest in helping you obtain this type of funding, because it can alleviate the need to settle early for less than you deserve, simply because you need to keep your home or other assets.