Can I receive an additional pre-settlement advance or buyout on my car accident in Texas?

The short answer is YES, assuming the math works.  

Bridgeway can advance to 10-20% of the potential settlement value of your case.  The biggest factors in determining if you can borrow more money are how much you already owe, how close to the end your case is and what is the estimated value. 

How does additional funding work?  

• If Bridgeway has already made an advance to you, we will re-evaluate your case to see if there is room for additional funding.  
• If you have funding with a different funding company, we will review your case and if the math works, we will pay-off or buyout the amount you owe to the prior funding company and then make an additional advance to you on top of the buyout.            

To better explain, imagine the value of your lawsuit is a pizza pie cut into 10 slices. The maximum you can be advanced on the case is 20% or 2 slices, so if you have only borrowed 1-1.5 slices, there is still room for more funding on the case.

What determines the value of my case?

Your case value depends on 3 factors: Liability - Damages - Insurance Coverage

1. Liability: Who is at fault for your accident? In Texas, it’s a comparative fault state, meaning you need to be less than 50% at-fault for the accident in order to collect financial compensation. If you are unsure who is at fault you can view your police report here.
2. Damages: The physical, emotional and financial losses you were caused because of the accident. The 2 major categories are Bodily Injury & Wage Loss.

• Bodily Injury – the cost of all the required medical treatment to recover from the incident plus additional compensation for your pain & suffering.
• Wage Loss – Money you lost because you had to miss work but also if your injuries will force you to earn less in the future.

3. Insurance Coverage – How much insurance coverage is there for the accident? What is the maximum settlement you could win?
   • Bodily Injury Coverage:  In Texas the minimum required policy is $30,000 per person / $60,000 per incident and $25,000 for property damage. However, some people may have more than the minimum. To learn more, click here.

• • Uninsured / Under-insured Motorist Coverage: If you win the entire insurance policy for the at-fault vehicle or if the at-fault had no insurance, you can pursue a case against your own insurance or the insurance of the car you were in.

To learn more about car accident “settlement loans” in Texas, Bridgeway suggests visiting:

            -Texas Car Accident Loans

            -Guide to Funding

To speak to a Bridgeway case manager today, apply here.