There is no shortage of inconveniences that come with getting into a car accident. You have to take time to file a claim, you could be without your vehicle for an extended period while it’s being repaired and worst of all you could suffer injuries that could impact your life on a day-to-day basis—including financially.
If you’ve been injured in a car accident in Georgia, you could be entitled to a cash settlement. While that’s great news, there are no guarantees that you’ll receive a payment right away. The delay could be an inconvenience if you need those funds sooner rather than later to help pay for medical expenses, car repairs or offset any lost salary from having to miss work.
Fortunately, there are ways to access the funds you need in a timelier manner—with what’s known as a pre-settlement advance, or a "lawsuit loan". The advances serve as a financial resource to help keep you afloat until you can return to work or your lawsuit is resolved.
What is a pre-settlement advance?
Pre-settlement funding is a cash advance against your pending car accident case or lawsuit. This is not a loan, but rather a non-recourse advance. You would not have to repay the advance if your case is unsuccessful for any reason.
Did you know there are currently more than 10 million vehicles registered in Georgia? The large amount of cars on the road has perhaps contributed to the state reporting the fifth most automobile accidents in the U.S. in 2022. The Peach State also had the fourth most car accident-related fatalities in the country, despite having the eighth-highest population in the U.S.
Such a large discrepancy could be a sign that there are a number of dangerous Georgia roads, there’s too many drivers on those roads—or both. Either way, it’s good to have access to financial assistance if you’re ever in a car accident in Georgia.
If you’re entitled to a settlement after being in a car accident in Georgia, chances are you can’t wait one to three years for your money. Yes, it can actually take that long.
Instead, Bridgeway Legal Funding can help you get your money in days. Not only can you get your money faster, but you can get what your case is actually worth. A pre-settlement advance prevents you from having to take an offer that’s well below your case’s value. These advances can also help level 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 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 days?
Yes. Speed 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—Who was at fault in the accident? Liability can be easily determined in instances when a driver rear-ends another one. 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 cost between injuries and lost wages? A number of factors are calculated to determine total damages including:
• 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 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 Georgia:
- Bodily injury liability: $25,000 per person and $50,000 per accident
- Property damage liability: $25,000 per acciden
- Uninsured motorist bodily injury: $25,000 per person and $50,000 per accident
- Uninsured motorist property damage: $25,000 with a $250, $500, or $1000 deductible
Remember, these are minimum car insurance requirements for Georgia 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
Don’t wait to file your car accident lawsuit. In Georgia the statute of limitations is two years from the date of the accident.