Getting into a car accident in Wisconsin can be inconvenient. You have to file an insurance claim. You probably will have to take your vehicle to a shop for repairs. Then you need to figure out transportation until you get your vehicle back.
Those are just the time-based problems to deal with. There are also financial problems to think about. You may get hit with medical bills if you were injured in a car accident in Wisconsin. Plus, if you’re paid hourly, rather than on a salary basis, you could miss out on pay while you’re off from work recovering.
Financial settlements can help car accident victims recover money they lost as a result of the incident. Unfortunately, settlements aren’t usually paid out when most people need them — right away.
There is a way to get money after a car accident faster, however. It comes by way of a pre-settlement advance, which is sometimes called a “lawsuit loan”. Pre-settlement advances can help pay for expenses such as medical bills, vehicle repairs and lost income if you can’t work.
If you were injured in a car accident in Wisconsin and need money right away, consider getting a pre-settlement advance. It can help you stay on top of things financially 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 the term is incorrect because 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 Wisconsin driver, it’s good to know what your financial options are following an accident—especially if you have suffered an injury. You may be a careful driver, how others drive is out of your hands — car accidents do happen.
For example, there were approximately 130,000 car accidents per year on average in Wisconsin from 2018 to 2022, and an average of 26,000 of those crashes resulted in an injury. And the fact that there are more than 5 million registered vehicles in Wisconsin increases the odds that the average number of car accidents will stay the same and perhaps increase.
Bridgeway Legal Funding hopes that you are never a part of these Wisconsin car accident statistics. But if you are, know that we can help you get the money you need to help you pay for car repairs, medical bills and offset lost wages.
If you are awarded a settlement following a car accident in Wisconsin, it could be three years, yes, years, before you see any money.
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 is truly worth. A pre-settlement advance can protect you from accepting an offer that’s much less than 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 settlement money as quickly as possible following your accident? 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 Wisconsin:
- Bodily injury liability: $25,000 per person and $50,000 per accident
- Property damage liability: $10,000 per accident
- Medical payments: $1,000 per person*
- Uninsured motorist: $25,000 per person and $50,000 per accident
*Note: Medical payments coverage can be rejected in writing.
Remember, these are minimum car insurance requirements for Wisconsin 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 Wisconsin the statute of limitations is three years from the date of the accident.