Have you ever been in a car accident in Delaware? If so, you know how inconvenient it can be. The time spent filing an insurance claim, fixing your car and finding a replacement vehicle (or scheduling public transportation) can make that accident quite costly.
Even if you’ve never been in a car accident in Delaware, you’re likely aware that a crash can not only cost you time, but also money. For example, your car insurance company may pay for most of your vehicle repairs, but your deductible is an out-of-pocket cost. Plus, any car accident-related injuries suffered could lead to big medical bills from a hospital stay or doctor’s office visits. Meanwhile, if you get paid hourly, you could lose wages if you have to take time off from work because you’re hurt.
Thankfully, financial settlements exist, which could help cover these expenses if you’re ever injured in a car accident in Delaware. However, there’s no guarantee that you will receive that settlement right away — which is when you probably need it the most.
If you do need money immediately to cover your car accident-related expenses, a pre-settlement advance can help. This funding, which is also known as a “lawsuit loan”, gets money in your hands sooner to help cover expenses like medical bills, car repairs and lost income if you can’t work.
Consider getting a pre-settlement advance if you were injured in a car accident in Delaware and need money right away. 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 a pre-settlement advance?
Pre-settlement funding is a cash advance against your pending car accident claim or lawsuit. People may call it a “lawsuit loan” too, but that name isn’t correct. Pre-settlement funding is a non-recourse advance, not a loan. When you take out a loan, you’re expected to pay back that money. Non-recourse advance funds do not have to be repaid, even if you lose your case.
As a Delaware driver, it’s good to be aware of the financial resources that are available to you following an accident. At Bridgeway Legal Funding, we hope that you never get into a car accident, and if you do, that you are not injured. Unfortunately, accidents can happen to even the safest drivers.
For example, the Delaware State Police Traffic Operations Section (TOS) processed more than 19,000 car accident reports in 2023. Meanwhile, almost 8,000 people were injured in the more than 27,000 car accidents in Delaware in 2022. With more than 900,000 registered vehicles on Delaware roads and 712,000 licensed drivers operating vehicles in The First State, getting into a car accident in Delaware is possible, no matter how safe of a driver you are.
Again, we hope you’re never involved in any sort of accident. In the event that you’re injured in a car accident in Delaware however, you will want as many financial options available to you as possible and Bridgeway Legal Funding is here to help.
If you’re entitled to a settlement after being in a car accident in Delaware, you might have to years, yes years, to get your money.
Bridgeway Legal Funding can help you get your settlement in a matter of days, however. Not only can you get your money faster, but you can receive what your case’s true monetary value is. A pre-settlement advance can protect you from accepting an offer that’s much less than your case is worth. These advances can also help even 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 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 perform 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 Delaware:
- Bodily injury: $25,000 per person and $50,000 per accident
- Property damage liability coverage: $10,000 per accident
- Uninsured motorist bodily injury coverage: $25,000 per person and $50,000 per accident
- Uninsured motorist property damage: Minimum of $10,000 per accident
- Personal injury protection coverage: Minimum of $15,000 per person and $30,000 per accident
Note: Uninsured and Motorist Bodily and Property Damage coverages can be rejected in writing.
Remember, these are minimum car insurance requirements for Delaware 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 Delaware the statute of limitations is two years from the date of the accident.