Getting into a car accident in Ohio can be a major inconvenience physically, emotionally and financially! You have to spend precious time working with your car insurance company filing a claim, going to doctors and talking to lawyers. There’s also a good chance you’ll need to take time to get your car repaired, and depending on the damage, you could be without your vehicle for quite some time.
Those inconveniences aren’t just about lost time. What if you get injured in a car accident in Ohio? You’re not only dealing with physical pain, but also potential financial difficulties. You may have to put your hard-earned money towards medical expenses while also losing income if you’re too injured to work.
The good news is a financial settlement could help you cover these expenses if you’re ever injured in a car accident in Ohio. Unfortunately, you might not receive that settlement immediately — which is when you probably need it the most.
So what’s the solution? A pre-settlement advance, which is also sometimes called a “lawsuit loan.” A pre-settlement advance can help pay for everyday expenses like rent & mortgage payments, car loan payments, groceries and other basic needs.
If you were injured in a car accident in Ohio and need money right away, consider getting a pre-settlement advance. It can help you cover your financial obligations while you wait for the full lawsuit settlement you deserve. Don’t accept less just because you cannot afford to wait!
To learn more, please visit Bridgeway’s Guide To Pre-settlement Advances.
What is pre-settlement funding?
Pre-settlement funding is a cash advance against your pending car accident claim or lawsuit. Although it’s often called a “lawsuit loan” too, that term is not technically correct. Pre-settlement funding is a non-recourse advance, not a loan. In other words, you only have to pay the money back if you win your case.
Why pre-settlement funding is important
You may be a safe driver, but car accidents can occur anytime. If you’re injured in an accident in Ohio and don’t have the money saved to cover the expenses, it’s good to have a financial backup. A pre-settlement advance can help keep you afloat while you wait to receive your full settlement.
Did you know that there were more than 250,000 recorded car accidents in Ohio in 2023? Within that total, more than 4,600 of them resulted in injuries, and left almost 7,000 people hurt. Given that there are more than 8 million registered vehicles in Ohio, the chances of getting into a car accident are high — regardless of how responsible of a driver you think you are.
So, if you know an unexpected medical bill, car repair (or replacement) or missed time from work could hurt your financial situation, keep pre-settlement funding in mind if you’re ever in a car accident in Ohio. This funding makes it so you don’t have to wait up to three years (yes, it could take that long) to see any money.
Pre-settlement funding also protects you from having to accept an offer that’s below your case’s value. Additionally, it helps level the playing field against large insurance companies that tend to have an infinite amount of resources and capital.
How do pre-settlement advances work?
Bridgeway Legal Funding, presents a simple three-step process to help our clients secure a pre-settlement:
• We talk to you (the plaintiff)
• Review your case and estimate what it will be worth
• Offer you an advance of up 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.
You can also visit the Bridgeway Legal Funding website’s “How pre-settlement funding works section” to learn more about this process.
How long does it take to get pre-settlement funding?
Bridgeway Legal Funding provides pre-settlement advances faster than any other lender in this industry. You can speak to a funding specialist today, submit an application within minutes and be enjoying your cash advance within 24 hours.
Call us at 1-800-531-4066 or complete our short questionnaire to get your pre-settlement process right away.
How much of a pre-settlement advance am I eligible for?
Our clients are usually eligible to receive up to 10 to 20% of their case’s value. We look at the following three factors to determine the case’s value:
• Liability—Who was at fault in the accident? Liability can be easily determined in instances when a driver runs a red light and hits another car or a driver rear-ends the vehicle in front of them. In less clear cases, such as a side swipe, each driver might share some fault.
• Damages—How much money will be awarded following the accident between injuries and lost wages? A number of factors are calculated to determine total damages including:
• Medical expenses and treatments (present 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 sue for 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 Ohio
• Bodily injury coverage: $25,000 per person and $50,000 per accident
• Property damage liability coverage: $25,000 per accident
These are the minimum car insurance requirements in Ohio. Chances are the person who runs into you has more coverage than this.
Click here to learn more about how much funding you can get for your pre-settlement advance.
How can I get a pre-settlement advance?
At Bridgeway Legal Funding, we’ll work with you to help you obtain the most pre-settlement funding possible.
Here are a few things you can do to increase the odds you receive a bigger overall settlement as well:
• Hire a qualified attorney that specializes in motor vehicle accidents
• Main good records of your car accident, medical treatment(s) and injury/injuries
• Get a copy of the police report and collect names of any potential witnesses
• Make sure your law firm files a lawsuit quickly. The statute of limitations in Ohio is just two years from the date of the accident.