Truck Accident Settlement Advances Help Plaintiffs
If you need money and are involved in a lawsuit for a truck accident injury (or injuries), truck accident lawsuit loans can help.
Semi-truck accident lawsuit loans (pre-settlement funding) are an advance on the future settlement of your case. Truck accident lawsuit funding is easy and you can have money in your hands in as little as 24 hours. Read below for more information.
Truck Accidents Facts and Figures
According to the Department of Transportation, approximately 500,000 truck accidents occur in the U.S.A throughout the year. Roughly 5,000 people a year tragically lose their lives in truck accidents. Many more are injured permanently and severely in non-fatal truck accidents in the US.
Common truck accident causes might include:
- Fatigue – truckers are often under time restraints and some drive for more time in a day than is safe.
- Driving under the influence – unfortunately, some truckers use drugs and/or alcohol while working. Some report using drugs to remain awake so that deadlines can be met.
- Distractions – text messaging, phone calls, use of smart phones, eating, drinking, and other actions other than paying attention can contribute to truck accidents.
- Speeding – speeding often occurs as truckers try to reach their destinations in a timely fashion.
- Not keeping a safe distance – some truck accidents occur from the failure to maintain adequate following distance behind other vehicles. Trucks are heavy as compared to other motor vehicles. Stopping them in a hurry is difficult and dangerous.
- Improper storage of cargo – can cause the fall of cargo leading to imbalance and truck accidents.
Truck Accident Consequences
Truck accident victims can suffer incredibly severe and permanent injuries. But that may only be the tip of the iceberg. The physical injury can require surgery and/or physical rehabilitation. And while you are recovering, you may not be able to work as before.
Fortunately, the legal system has safeguards in place to compensate victims who are injured in truck accidents. That’s the good news.
The bad news is that the process takes time. Often many years can pass before an injured victim gets compensation for his/her truck accident lawsuit.
The lapse of time between filing a lawsuit and ultimate recovery can be strenuous. While you wait for your attorney to go through the proper steps, your bills keep piling up. And without a safety net or the ability to earn enough to stay afloat, many plaintiffs are forced to accept “low-ball” settlement offers just to ease the financial strain. If you are in this situation, a truck accident lawsuit loan can be the solution.
What is a Truck Accident Lawsuit Loan?
A truck accident lawsuit loan is a type of non-recourse financial transaction. Lawsuit loans use the potential value of your truck accident lawsuit as collateral for the advance. Essentially, a lawsuit lender will purchase a portion of your future settlement in advance. In return, you pledge to repay an agreed upon amount from the settlement proceeds. With non-recourse advances, you are never liable for the lawsuit loan personally. Instead, the settlement proceeds are the only source of repayment under the contract.
The bottom line is this: you get cash in your pocket immediately to pay your bills while your case makes its way through the legal process.
How Much Can I Borrow on a Truck Accident Pre-Settlement Loan?
The size of the truck accident lawsuit loan depends upon how much damages you sustained from the accident; how much responsibility you have in the accident, if any; and the amount of insurance coverage available to compensate you as the victim of the truck accident.
The more damages you suffer in the accident, the more a lawsuit lender can advance you against the settlement.
Truck accident lawsuit settlement funding underwriters are experts in assessing the potential value of your claim. We typically work with your attorney to determine the value of your case. As a general rule, truck accident lawsuit loans are generally capped at 10-15% of the subjective settlement value of the case.
There is no minimum funding amount. In as little as a few hours of speaking with your lawyer, we can have you approved for funding.
If You Have Any Questions, Call 888-964-2224
WE ARE HERE TO HELP YOU!
How Do I Qualify for a Truck Accident Lawsuit Loan?
There are only a few requirements plaintiffs need to meet in order to qualify for pre-settlement funding for a truck accident with Fair Rate Funding.
- You must have a valid claim for damages
- You must have a physical injury
- You must have an attorney
- Your attorney must be retained on a contingency fee arrangement (he/she only gets paid if there is a recovery).
Keep in mind, lawsuit funding is fairly expensive as compared to other financial products. Therefore, you should only seek truck accident lawsuit loans if you have an immediate financial need and have exhausted other available options.
Truck Accident Lawsuit Loan Process
The process for semi-truck accident lawsuit loans is simple. Simply fill out a quick application or call us at 888-964-2224. One of our truck accident lawsuit funding specialists will contact you about your case to discuss your funding options.
From there it is a matter of contacting your attorney and gathering up some lawsuit funding information. These might include documents such as:
- an incident report
- insurance coverage
- medical records
- expert reports
- and a host of other relevant exhibits
From there a lawsuit funding underwriter will review the documents and get on a phone call with your attorney’s office. Your attorney’s cooperation is essential for truck accident settlement loan processing.
After a conversation takes place, the lawsuit funding company will send out a contract for your review and signature. Once signed and acknowledged by your lawyer, the transaction is set up for funding. Funds are then deposited into a bank account or a check sent overnight delivery. Either way, you are just moments away from receiving cash.
Once the funding is received, your attorney will place the contract in his file to be paid out of the proceeds of your case. It’s really that simple and the whole process can be completed in 24 hours.
Is Good Credit Needed to Get Truck Accident Pre-Settlement Funding?
Fair Rate Funding uses only non-recourse transactions for all of our clients, including truck accident victims. We only are repaid through your settlement. In fact, we are only paid back if you win your case. We can never pursue you personally for repayment.
Therefore, poor credit history or financial condition is not a factor when you apply! In fact, most of our clients are in a financial pinch. That is why they call us in the first place.
Since you are selling a portion of your settlement in advance, we are only interested in the merits of your case. Fair Rate Funding will not check your credit or inquire about any other assets. Remember this is a non-recourse transaction. Your case, not your financial condition is our only concern.
Get Started with Semi-Truck Legal Funding
If you have a lawsuit from a semi truck accident, you may be eligible for a truck accident lawsuit loan from Fair Rate Funding. If you need cash now while waiting for your case to finish, we can provide lawsuit settlement funding to help you while you wait.
We know you have a choice of lawsuit settlement funding companies and are happy to assist you. To obtain a lawsuit loan in the quickest and easiest manner, please call us at 888-964-2224 or complete our submission form.
We will contact you immediately and begin the process. You can then relax and allow Fair Rate Funding to work for you. We routinely provide lawsuit settlement funding for truck accident cases within 24 hours of receiving the paperwork from your attorney.
