If you or someone you know has ever been in a car accident in Washington, D.C., you’re well aware of the inconveniences that follow. You have to file a claim and may have to spend time speaking with your car insurance company about the incident. There’s a good chance your car will need repairs, and you’ll have to figure out transportation until you get it back.
Those are just inconveniences that cost you time after you get into a car accident in Washington, D.C. A car accident could also cost you money, whether it’s because of medical bills or lost wages from you missing work due to your accident-related injuries.
A financial settlement could help you offset some of those financial inconveniences after a car accident. The downside is car accident settlement funds are not paid out right away, which is when most people need them.
It is possible to access much-needed financial relief following a car accident in Washington, D.C., however. The solution is a pre-settlement advance, which is sometimes called a “lawsuit loan”. Pre-settlement advances can help pay the previously mentioned expenses such as hospital bills, car repairs and help replace lost wages if you’re unable to work.
If you were injured in a car accident in Washington, D.C. and need money right away, consider getting a pre-settlement advance. 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. This advance is commonly called a “lawsuit loan” but the term is not accurate. Pre-settlement funding is actually non-recourse advance, not a loan. This means that you don’t have to pay the money back if you don’t win your case.
As a Washington, D.C. driver, it’s beneficial to know what your financial options are after an accident — especially if you were injured. As good as your driving record may be, other peoples’ driving habits are out of your control — car accidents do happen.
For example, there were almost 6 million police-reported car accidents across the U.S. in 2022, which resulted in more than 2 million injuries, according to the National Highway Traffic Safety Administration (NHTSA). While Washington, D.C. drivers don’t log as many miles on average as other states (just 6,700 in 2022), there are 320,000 registered vehicles in the nation’s capital, meaning an accident could occur at any time — no matter how carefully you drive.
At Bridgeway Legal Funding, we hope you are never a part of these statistics. If you are ever injured in a car accident in Washington, D.C. however, we are here to help you secure your pre-settlement funding.
Did you know that if you win a settlement after being in a car accident in Washington, D.C., you may not see that money for years?
Bridgeway Legal Funding can help get money in your hands in a matter of days, however. Not only can you get your money faster, but you can receive what your case is actually worth. A pre-settlement advance can protect you from taking an offer that’s well below your case’s value. 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 in as little as 48 hours? 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 Washington, D.C.:
Bodily injury liability: $25,000 per person and $50,000 per accident
- Property damage liability: $10,000 per accident
- Uninsured motorist bodily injury: $25,000 per person and $50,000 per accident
- Uninsured motorist property damage: $5,000 per accident with a $200 deductible
- Underinsured motorist bodily injury: $25,000 per person and $50,000 per accident
- Personal injury protection (PIP): Multiple options
Note: Underinsured Motorist Bodily Injury and Personal Injury Protection coverages can be rejected.
Remember, these are minimum car insurance requirements for Washington, D.C. 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 Washington, D.C. the statute of limitations is three years from the date of the accident.
Apply for your pre-settlement advance today.