Getting into a car accident in Louisiana can be inconvenient for a number of reasons. There’s time lost dealing with car insurance companies and filing claims, as well as the potential of being without your car for an extended period of time while it’s being repaired. You could also end up with a number of out-of-pocket costs like vehicle repairs.
There’s also a cost to consider—what if you are injured in that car accident?
If you’re injured in a car accident in Louisiana, you could be facing costly medical bills and even lost income if you’re too injured to work and are an hourly employee. Being unable to work for an extended period would make it difficult to pay for a doctor’s office visit or vehicle repairs if you have a large deductible.
The good news is you could win a cash settlement that could help you pay for these things. The bad news is the settlement might not be available to you when you really need it—right away. So what can you do for money in the meantime?
The solution is a pre-settlement advance. Also known as a “lawsuit loan,” a pre-settlement advance can help pay for your car accident-related expenses like repairs, medical bills and replace lost income if you’re too hurt to work.
Bridgeway Legal Funding can help you secure a pre-settlement advance that will 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. You receive a portion of your expected settlement to cover your expenses while your lawsuit is ongoing. This advance is also commonly referred to as a “lawsuit loan,” but that phrase is not technically correct. The funding is a non-recourse advance, not a loan. In other words, you don’t have to pay the money you were advanced back if you don’t win your case.
The importance of pre-settlement funding
As careful as you are on the road, a car accident can occur anytime. Did you know that almost 60,000 people were injured in a car accident in Louisiana in 2024 and more than 40,000 of those injured in the crash were driving the vehicle? These car accidents resulted in 106 injuries per 100 million miles traveled throughout Louisiana.
If you’re injured in an accident in Louisiana and don’t have the money saved to cover the expenses that come after it, it’s good to have a financial backup. If you find yourself in one of these accidents but weren’t at fault (or were a passenger), you could be entitled to a cash settlement. Pre-settlement funding makes it so you don’t have to wait up to three years (yes, it could take that long) to see any money.
Pre-settlement funding also protects you from having to accept an offer that’s below your case’s value as well as levels 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:
• You’ll discuss your accident with us
• We’ll review your case and determine what we think it will be worth
• We 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. Bridgeway can accommodate you quickly if you’re in a car accident in Louisiana. We’re set up 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 was at fault in the accident? Liability can be easily determined in instances when a driver rear-ends another one or someone runs a red light. 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 between injuries and lost wages? A number of factors are calculated to determine total damages including:
• Medical expenses and treatments (present 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 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 Louisiana:
• Bodily injury coverage: $15,000 per person and $30,000 per accident
• Property damage liability: $25,000 per accident
• Medical payments: $1,000
• Uninsured motorist bodily injury coverage: $15,000 per person and $30,000 per accident
Note: Medical payments and Uninsured motorist bodily injury coverages can be rejected in Louisiana.
These are the minimum car insurance requirements in Louisiana. 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. There are a few things you can do on your end to increase the odds you receive a bigger overall settlement as well:
• Hire a qualified attorney that specializes in motor vehicle accidents
• Keep 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 Louisiana is just two years from the date of the accident.