A car accident loan is a cash advance provided to plaintiffs awaiting a settlement or judgment in a car accident lawsuit, where the loan amount is repaid from the eventual settlement or award.
A car accident loan can be used to cover various expenses such as medical bills, living costs, and legal fees incurred during the lawsuit process.
Yes, your attorney is typically involved in obtaining a car accident loan, as they provide necessary case information and acknowledge the funding agreement.
The amount of funding you can receive is determined by the estimated value of your case, considering factors like liability, damages, and insurance coverage.
The risks associated with car accident loans include potentially high-interest rates and the obligation to repay the loan amount from the settlement or judgment, which might reduce the final amount you receive.