Are you having trouble making ends meet after a car accident in Ohio? Your financial stability is always important, but especially more so after a car accident. If you have been injured in a car accident and are worried about paying for your injuries, buying a new car and paying your bills, waiting for your settlement money simply isn’t an option. Most accident victims see their bills increase after an accident also, as their injuries can leave them with high medical bills or the cost of surgery.
If this sounds like you, you may be feeling like there’s no solution apart from waiting for your settlement check from your car accident lawsuit. Fortunately, Bridgeway Legal Funding provides a solution to this issue in the form of pre-settlement funding.
What is pre-settlement funding?
Pre-settlement funding goes by a few different names. It’s sometimes referred to as a lawsuit loan, non-recourse cash advance, a pre-settlement cash advance or something else. All of these names, however, refer to the same idea: an advance against your pending car accident claim or lawsuit. Since it is a non-recourse cash advance, “lawsuit loans” are actually not a loan at all, because if your case is unsuccessful for any reason, you won’t have to pay back the money that was given to you.
To learn more, check out Bridgeway's Guide to Pre-Settlement Funding.
How much pre-settlement funding can I get for my car accident case?
Do you know how much my car accident case is worth? The amount of money you can actually receive from car accident lawsuit funding will vary depending upon how much your t claim is worth. At Bridgeway, our team calculates your settlement value based upon the way the car accident happened, how bad the damage was, and how much insurance coverage you had at the time. These factors total up to be the estimated value of your case (and therefore your settlement). When we find out how much your settlement might be, we can offer you pre-settlement funding while you wait for your settlement check. You can use your pre-settlement funding for medical bills and other accident related expenses.
What are minimum insurance coverage requirements in Ohio?
One factor that contributes to your case value is how much insurance coverage is available. Every state sets limits for how little insurance coverage you’re allowed to have. Under Ohio state law, you must purchase at least:
- $25,000 for injury/death of one person
- $50,000 for injury/death of two or more people
- $25,000 for property damage in an accident
It’s your right to purchase as much or as little car insurance coverage as you wish. Buying less insurance coverage may mean smaller insurance payments every month, which most people prefer, but not having enough coverage when an accident happens can lead to you paying out of pocket for accident-related expenses.
How can I apply for pre-settlement funding?
To get cash now while you wait for your settlement, the first step is to apply online with Bridgeway Legal Funding. Applying takes just a few minutes, and is free of charge. We do not run a background check or credit check in order to process your application. All we ask for is your contact information, your lawyer’s information, and some information about your Ohio car accident lawsuit.
How long does it take to be approved for pre-settlement funding?
Our network enables us to move faster than our competitors. Bridgeway Legal Funding is able to access pre-settlement funding within twenty-four hours of submitting your application.
Once I’m approved, how long does it take to get my car accident cash advance?
Once you’re approved for a “lawsuit loan” in Ohio, you sign and return the electronic cash advance funding agreement. Our team then uses Western Union, wire transfer, or UPS to overnight ship a check directly to you.
If you’re waiting on an Ohio car accident settlement check, contact Bridgeway Legal Funding today or apply online here.