Getting into a car accident in California can be inconvenient for a number of reasons. You can spend a lot of time dealing with your car insurance company to file a claim. You may also have to get your car repaired and, in that case, you will be without it for a while depending on how severe the damage is.
Lost time isn’t the only thing you may have to deal with following a car accident. What if you get injured in a car accident in California? You might not only suffer from physical pain, but also potential financial setbacks. You may have to put your hard-earned money towards medical expenses such as doctor visits. If you’re paid hourly, you could lose income if you need to take time off from work because you’re hurt.
The good news is a financial settlement could help cover these expenses if you’re ever injured in a car accident in California. Unfortunately, you might not get that settlement right away — which is when you probably need it the most.
A pre-settlement advance could address this issue. This type of funding, which is also sometimes called a “lawsuit loan,” can help pay for car accident-related expenses such as medical bills, vehicle repairs and lost income if you can’t work.
If you were injured in a car accident in California and need money right away, consider getting a pre-settlement advance. It can help keep you financially afloat while you wait for your full settlement.
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. It’s also called a “lawsuit loan” but that term is incorrect. Pre-settlement funding is a non-recourse advance, not a loan. The key difference is loans have to be paid back, non-recourse advances do not, even if you lose your case.
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Why pre-settlement funding is important
You may have excellent driving habits, but even good drivers can get into a car accident, including in California. Did you know that there were more than 160,000 total car accidents in California in 2024, according to UC Berkley’s Statewide Integrated Traffic Records System (SWITRS)? A staggering 230,806 injuries and fatalities occurred due to those collisions.
Approximately half of those accidents were due to speeding, according to the same study, while 10,198 were the result of distracted driving. So again, you may be observing the rules of the road, but those around you might not be as careful behind the wheel. Plus, with more than 35 million registered vehicles on the road, the chances of getting into a car accident in California only increase.
If you’re injured in an accident in California but weren’t at fault (or were a passenger) and can’t afford to pay for the expenses that come after it, it’s good to have a financial backup. A pre-settlement advance can cover your bills and other accident-related costs while you wait to receive your full settlement. Otherwise, you could wait up to three years to see any money.
Pre-settlement funding also protects you from having to accept a below-value offer. 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 discuss your case with you
• Review your case and estimate what 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.
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 helps secure a pre-settlement advance faster than others in our field. We can accommodate you quickly if you’re in a car accident in California — we have the ability to get cash into our clients’ hands within 24 to 48 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’s fault was the accident? It is easy to determine liability when a driver runs a red light and hits another car or a driver rear-ends the vehicle in front of them. In other cases, liability might not be as clear, however, such as a side swipe.
• Damages —How much money will be awarded after the accident to compensate for injuries, medical visits and lost wages? The factors calculated to determine total damages include:
• Medical expenses and treatments (present and future)
• Lost wages (determined by how much work you missed times your current wage)
• Future work status (your ability to work at all and/or perform 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 California:
• Bodily injury coverage: $30,000 per person and $60,000 per accident
• Property damage liability coverage: $15,000 per accident
• Uninsured and underinsured motorist bodily injury coverage: $30,000 per person and $60,000 per accident
• Uninsured motorist property damage: $3,500 per accident
Note: Uninsured motorist coverages can be rejected in California in writing.
These are the minimum car insurance requirements in California. 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 improve your chances of receiving 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 California is just two years from the date of the accident.