Getting into a car accident in Massachusetts comes with a number of inconveniences. There’s filing a claim and dealing with your car insurance company. You may have to take your vehicle to a shop for repairs if the damage is bad enough. Then there’s figuring out how to get around while you wait for your car to be fixed.
Those are just car accident-related time inconveniences. What if you get injured in a car accident in Massachusetts? That adds to your list of problems. You may have to deal with physical pain, but you also have to think about your financial situation. You may have to pay for medical expenses such as doctor visits. If you work part-time or are paid hourly, you could lose income if you’re too injured to work.
Fortunately, a financial settlement could help you cover these expenses if you’re ever injured in a car accident in Massachusetts. The downside is there’s no guarantee that you will receive that settlement immediately—which is when you probably need it the most.
A pre-settlement advance could help solve your problem. This type of funding, which is also sometimes called a “lawsuit loan”, can help pay for car accident-related expenses such as medical bills, car repairs and lost income if you can’t work.
If you were injured in a car accident in Massachusetts 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. It’s often called a “lawsuit loan” too, but that term is not technically correct. Pre-settlement funding is a non-recourse advance, not a loan. In other words, you don’t have to pay the money back if you don’t win your case.
As a Massachusetts driver, it’s beneficial to know what financial resources are available to you following an accident. Fortunately, the projected number of car accident-related injuries in Massachusetts is trending down, according to the U.S. Department of Transportation Federal Highway Administration.
The Massachusetts DOT developed targets projecting 2022 annual serious industries would be equal to the lowest year in recent history. Meanwhile, the five-year average number of serious car accident injuries in Massachusetts saw a nearly 2 percent drop between 2019 and 2023.
While that’s great news, it’s still good to be prepared in the event of an accident. There are almost 5 million registered vehicles in Massachusetts, and one city in particular, Fall River, was recently ranked second in the U.S. for percentage of drivers who reported an at-fault accident.
These figures are to show that as careful as a driver as you may be, accidents can happen. In the event that you’re injured in a car accident in Massachusetts, you will want as many financial options available to you as possible.
If you’re entitled to a settlement after being in a car accident in Massachusetts, 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 Massachusetts:
• Bodily injury liability: $20,000 per person and $40,000 per accident
• Property damage liability: $5,000 per accident
• Uninsured motorist bodily injury coverage: $20,000 per person and $40,000 per accident
• Personal injury protection: $8,000
Remember, these are minimum car insurance requirements for Massachusetts 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 Massachusetts the statute of limitations is three years from the date of the accident.
Apply for your pre-settlement advance today.