Were you injured in a car accident in Connecticut?
You could be entitled to a settlement if you got hurt in a car accident in Connecticut. That’s great news—until you realize it could be some time before you see any of that money. Do you have money saved to cover medical bills, car repairs and lost wages from being out of work with injury? If you don’t, waiting for your settlement simply is not an option. So what can you do? Getting a pre-settlement advance may be a great option for you.
What is a pre-settlement advance or "lawsuit loan"?
A pre-settlement advance or "lawsuit loan" is exactly what it sounds like—it is money to help you cover your expenses until your accident lawsuit is settled. It can help keep you afloat financially until you can return to work and earn a paycheck again.
How can I get my pre-settlement advance in Connecticut?
Contacting Bridgeway Legal Funding is the first step towards securing your pre-settlement funding. We help car accident injury victims get their pre-settlement funding in their hands as soon as possible—we typically can secure your advance within 24-48 hours of you getting in touch with us.
Pre-settlement advance explained
A pre-settlement advance is often incorrectly called a “lawsuit loan.” This is wrong because with a loan you are responsible to pay it back no matter what. Conversely, pre-settlement funding is a non-resource advance, which means you only have to re-pay the money if you receive compensation (money) from your injury claim.
Bridgeway Legal Funding’s pre-settlement funding process
At Bridgeway Legal Funding, we help our clients get their pre-settlement advance in three steps:
- We’ll look over the plaintiff’s (you) case.
- We will calculate an estimated case value.
- If the math makes sense, we will approve you for a pre-settlement advance—typically 10 to 20 percent of what we believe your car accident injury claim is worth.
Check out our video on pre-settlement funding to learn more about how the process works.
You can also read the “How pre-settlement funding works section” on our website to learn more about the pre-settlement funding process.
How does Bridgeway estimate the value of my case?
Although we generally let clients borrow up to 10 to 20 percent of their case’s value, we determine every case’s exact value on an individual basis.
Bridgeway Legal Funding also uses these factors to determine your car accident lawsuit’s worth:
- Liability—Who was at fault in the accident? Liability can be easy to determine (one car rear ends another) as well as difficult (sideswipe incident). Either way, Bridgeway Legal Funding will figure it out to help you get a fair pre-settlement advance.
- Damages— Is a calculation of compensation for bodily injuries & financial losses you incurred because of your crash/accident — This includes pain & suffering, medical treatment, future medical expenses or lost wages from missed work. Bridgeway Legal Funding will take how much work you missed an multiply it your by current salary to determine damages. (Hours of work missed x Your hourly wage= Damages.) We will look into whether or not you can still perform your current work duties after your injury or you need to find a new job.
- Insurance—How much coverage did you have when you got into your car accident? You must have at least the following insurance coverage to drive a vehicle in Connecticut:
- Bodily injury liability coverage: $25,000 per person and $50,000 per accident minimum
- Personal damage liability coverage: $50,000 per accident
- Uninsured motorist bodily injury coverage: Minimum $25,000 per person and $50,000 per accident
Remember, this is the minimum amount of car insurance coverage you need in Connecticut. You can purchase more—the maximum amount of coverage you can buy will depend on your insurer. Common maximum limits are:
• $250,000 for injuries per person
• $500,000 for injuries total, per accident
• $100,000 for property damage
Review the “How much funding can I get against my car accident lawsuit?” section of the Bridgeway Legal Funding to learn more about how much you can borrow for your car accident legal funding in Connecticut.
What else should I know about Connecticut pre-settlement advances?
You’ll need to do the following if you are injured in a car accident in Connecticut to qualify for a pre-settlement advance:
- Hire a lawyer who specializes in motor vehicle accidents.
- Keep detailed records of the car accident as well as the injuries you suffered.
- Request a copy of the police report from your accident and get the names of any potential witnesses.
The statute of limitations for personal injury lawsuits in Connecticut is two years from the day of your accident. Make sure you and your attorney file your lawsuit within that time frame.
According to the University of Connecticut’s Crash Emphasis Areas Dashboard, there were 26,947 total car accidents that resulted in 71,673 injuries. Although Connecticut is the third smallest state in the U.S., a majority of its 3.5 million person population are licensed drivers (2.6 million). Add in the fact that 26 minutes is the average amount of time Connecticut drivers spend communing to work, and it’s not too surprising that state saw many injury-related car accidents despite its small population.
Bridgeway Legal Funding hopes you are never part of Connecticut’s car accident statistics. If you are ever injured in a car accident in Connecticut, however, get in touch with us right away. We’ll work with you to make sure you receive your pre-settlement advance in a matter of days rather than wait 1-2 years or more for your full settlement.