Getting into a car accident in Oregon is inconvenient for a number of reasons. First, you have to find time to file a claim with your car insurance provider. Then, you’ll probably have to take your vehicle in for repairs. If that’s the case, you need to find another form of transportation until you get your car back, whether that’s a rental, taking public transportation or using rideshares.
At least those inconveniences only cost you time. Even with auto insurance, getting into a car accident in Oregon can cost you financially, too. Your insurer will pay for your car repairs, but you’ll have to pay out of pocket for the deductible. What if you’re injured? There are medical costs such as hospital bills and doctor visits to deal with. Plus, if you get paid hourly, you could lose wages if you have to take time off from work because you’re hurt.
Fortunately, financial settlements exist to help you pay for these expenses if you’re ever injured in a car accident in Oregon. That’s the good news. The bad news is there’s no guarantee that you will receive that settlement immediately — which is when you probably need it the most.
If you do need money right away to cover your car accident-related expenses, a pre-settlement advance can help. This type of funding, which is also known as a “lawsuit loan”, gets money in your hands sooner to help pay for such things as medical bills, car repairs and lost income if you can’t work.
Consider getting a pre-settlement advance if you were injured in a car accident in Oregon and need money right away. It can help keep you financially afloat while you wait for your full settlement.
To learn more, please visit Bridgeway’s Guide To Pre-settlement Advances.
What is a pre-settlement advance?
Pre-settlement funding is a cash advance against your pending car accident claim or lawsuit. It’s often called a “lawsuit loan” too, but that term is incorrect. Pre-settlement funding is a non-recourse advance, not a loan. When you take out a loan, you’re expected to pay back that money. Funds received from a non-recourse advance do not have to be repaid, even if you lose your case.
As an Oregon driver, it’s good to be aware of the financial resources that are at your disposal to you following an accident. Hopefully, you never get into a car accident, and if you do, hopefully you won’t get injured. Unfortunately, accidents can happen to even the safest drivers. Given that
For example, there were 44,000 car crashes in Oregon in 2022, which resulted in approximately 36,000 injuries. Given that there are more than 1 million registered vehicles on Oregon roads and drivers average about 12,000 miles per year, the odds of a car accident occurring increase significantly.
Again, we hope you’re never involved in any sort of accident. In the event that you’re injured in a car accident in Oregon however, you will want as many financial options available to you as possible and Bridgeway Legal Funding is here to help.
If you’re entitled to a settlement after being in a car accident in Oregon, you might have to wait up to three years for your money. Yes, it could take years to get your settlement.
Bridgeway Legal Funding can help you get your money in a matter of days, however. Not only can you get your money faster, but you can receive what your case’s true monetary value is. A pre-settlement advance can protect you from accepting an offer that’s much less than your case is worth. These advances can also help even the playing field against large car insurance companies that have virtually unlimited resources.
Want to get your pre-settlement advance as quickly as possible? Keep reading to learn how Bridgeway Legal Funding’s process works.
We help our clients access pre-settlement funding in three simple steps:
• Have a brief conversation with the plaintiff (you)
• Review your case and determine what we think it will be worth
• Offer you an advance of up to 10 to 20% of what your case’s estimated value
That’s it! Click here to learn more about our pre-settlement funding process and apply.
Can I really get a pre-settlement advance in a few days?
Yes. Getting funds to you quickly is one of the biggest benefits you can get when you work with Bridgeway Legal Funding. We are set up to provide clients with cash within 24 to 48 hours. The process begins by calling (800) 531-4066 or filling out our questionnaire.
How much can I borrow with a pre-settlement advance?
We typically will advance our clients up 10 to 20% of their case’s value. We base the case’s value on three key factors:
• Liability—Whose fault was the accident? If another driver rear ended your vehicle for example, they would be considered liable for any damages.
• Damages—How much money will be awarded following the accident based on injuries and lost wages? Some of the factors calculated to determine total damages include:
• Medical expenses and treatments (current and future)
• Lost wages (determined by how much work you missed times your current wage)
• Future work status (can you still work at all and/or preform your pre-accident duties)
• Insurance—You can typically use the amount of insurance coverage available at the time of the accident. Drivers are required to carry at least the following amount of car insurance in Oregon:
- Bodily injury: $25,000 per person and $50,000 per accident
- Property damage: $20,000 per accident
- Personal injury protection: $15,000 per person
- Uninsured motorist coverage bodily injury: $25,000 per person and $50,000 per accident
Remember, these are minimum car insurance requirements for Oregon drivers. Chances are the person you get into an accident with has additional coverage.
Click here to learn more about how much funding you can get for your pre-settlement advance.
How can I get the most out of my pre-settlement advance?
Bridgeway Legal Funding will do everything we can to help you get the most amount of pre-settlement funding possible. Here are a few things you can do as well to help yourself in the process:
• Hire an attorney that specializes in motor vehicle accidents
• Keep good records of your car accident, medical treatment(s) and injury/injuries
• Request a copy of the police report for your records
Don’t wait to file your car accident lawsuit. In Oregon the statute of limitations is two years from the date of the accident.