Getting into a car accident in Virginia can be a major inconvenience—for a number of reasons. You have to file a claim with your car insurance company and there’s a good chance you’ll have to leave your car in the shop for an extended period of time to repair the damages. And if that happens, you have to figure out how to get around until you get your vehicle back.
Those are just the inconveniences that cost you time. Getting into a car accident in Virginia can also cost you money, especially if you’re injured. You may have to pay medical bills as well as your car insurance deductible. Meanwhile, if you’re paid hourly, you could lose income if you are too injured to work.
Thankfully, financial settlements are designed to help you cover these types of expenses if you’re ever injured in a car accident in Virginia. 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 on your injury settlement 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 and much much more.
If you were injured in a car accident in Virginia and need money right away, let Bridgeway Legal Funding help you get a pre-settlement advance. It can help keep you financially afloat while you wait for your full settlement. Don’t accept a smaller settlement just because you cannot afford to wait!
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. You might have heard this funding called a “lawsuit loan,” 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 Virginia driver, it’s beneficial to know what financial resources are available to you following an accident. Again, a settlement can be a big help, but what if you can’t get the funds for months, or even years from now? Immediate access to money after a car accident is what makes pre-settlement advances so valuable. Car accidents increased 4% in Virginia from 2022 to 2023, it is crucial to know all the options at your disposal and make the best financial decision for your needs.
As careful as a driver as you may be, there’s still a chance you could be involved in a car accident at some point. After all, there were more than 127,000 car accidents in Virginia in 2023 — a four percent jump from the year before. Those accidents resulted in almost 64,000 injuries — 7.5 percent more injuries than occurred in 2022.
Again, you may mind the rules of the road, but what others do is out of your control. And with more registered vehicles (8.5 million) and miles traveled (83 million) in Virginia in 2023 than year before, the odds of a car accident only get bigger.
At Bridgeway Legal Funding, we hope you are never a part of these statistics. If you are ever injured in a car accident in Virginia however, we are here to help you secure your pre-settlement funding.
If you’re entitled to a settlement after being in a car accident in Virginia, 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 10-20% 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 Virginia:
- Bodily injury: $30,000 per person and $60,000 per accident
- Property damage: $20,000 per accident
- Uninsured motorist bodily injury: $30,000 per person and $60,000 per accident
- Uninsured motorist property damage: $20,000 per accident with a $200 deductible for hit-and-run accidents
Remember, these are minimum car insurance requirements for Virginia 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 Virginia the statute of limitations is two years from the date of the accident.
Apply for your pre-settlement advance today.