Have you suffered a car accident injury in Oregon?
If so, you could be eligible for a cash settlement. That’s the good news. The bad news is you might not see that settlement right away. That prospect can be unfortunate, especially if you have car accident-related expenses to cover such as medical bills, car repairs or lost earnings from being out of work with an injury. If you have any of these costs to cover, or additional ones, waiting for your settlement is not option. Instead, let Bridgeway Legal Funding help you secure a pre-settlement advance, also known as a "lawsuit loan".
What is a pre-settlement advance?
A pre-settlement advance is exactly what it sounds like—it is funds that help you cover your expenses until your car accident lawsuit is settled. A pre-settlement advance can also serve as a financial stopgap until you can get back to work and earn your income again. The beauty of a "lawsuit loan" is that you only need to pay the money back if you win your case and receive a cash settlement.
How can I get my pre-settlement advance in Oregon?
First, contact Bridgeway Legal Funding. We help car accident injury victims in Oregon secure their pre-settlement advance as soon as possible. Our goal is to get the funds in your hands within 48 hours of your contacting us.
How does pre-settlement funding work exactly?
Pre-settlement advances explained:
A pre-settlement advance is often referred to as a “lawsuit loan.” This term isn’t correct because loans have to be repaid. You would not have to repay a pre-settlement advance on the other hand. Pre-settlement funding is a non-resource advance, which means even if you lose your case, you are not obligated to pay it back.
Bridgeway Legal Funding can approve you for a lawsuit loan in 3 easy steps:
- We’ll review the details of your personal injury claim/case.
- We will calculate its estimated value.
- If the numbers make sense, we will offer you a pre-settlement advance—typically 10-20% of what we believe your car accident injury case is worth.
Check out our video on pre-settlement funding to learn more about how the process works.
You can also read the “How pre-settlement funding works section” on our website to learn more about the pre-settlement funding process.
What goes into estimating what my case is worth?
Although Bridgeway Legal Funding typically lets our clients borrow up 10 to 20 percent of their case’s value, that’s just an estimate. We examine each case and determine its value on an individual basis.
Here are the three factors Bridgeway Legal Funding uses to determine a lawsuit’s worth for a car accident in Oregon:
- Liability—In other words, who was at fault in the accident? Liability can be easy to determine (a car is rear-ended) or difficult (sideswipe incident). Either way, Bridgeway Legal Funding will figure it out to help you get a fair pre-settlement advance.
- Damages—How much money needs to be paid out after the accident? Anything that can have a dollar value put on it, things like medical treatments, future medical expenses or lost wages from missed work can be included in the damages total. Bridgeway Legal Funding will multiply how much work you missed it by your by current salary to determine damages. (Hours of work missed x Your current salary = Damages.) We will look into whether or not you can still perform your current work duties after your injury or you need to find a new job.
- Insurance—How much coverage did you have when you got into your car accident? You must have at least the following insurance coverage to drive a vehicle in Oregon:
- Bodily injury: $25,000 per person and $50,000 per accident
- Property damage: $20,000 per accident
- Personal injury protection: $15,000 per person
- Uninsured motorist coverage bodily injury: $25,000 per person and $50,000 per accident
Remember, this is the minimum amount of car insurance coverage you need in Oregon. You can purchase more—the maximum amount of coverage you can buy will depend on your insurer. Common maximum limits are:
• $250,000 for injuries per person
• $500,000 for injuries total, per accident
• $100,000 for property damage
Review the “How much funding can I get against my car accident lawsuit?” section of the Bridgeway Legal Funding to learn more about how much you can borrow for your car accident legal funding in Oregon.
What else should I know about Oregon pre-settlement advances?
Remember these tips if you are injured in a car accident in Oregon in order to qualify for a pre-settlement advance:
- Hire a lawyer who specializes in motor vehicle accidents.
- Keep detailed records of the car accident as well as your injuries.
- Request a copy of the police report from your accident and get the names of any potential witnesses.
The statute of limitations for personal injury lawsuits in Oregon is two years from the day of your accident. Make sure you and your attorney file your lawsuit within that time frame.
Of the more than 50,000 car accidents in Oregon in 2019, more than half resulted involved an injury and almost 40,000 people were hurt.
Every year, the Oregon DMV registers 1.8 million vehicles and issues approximately 200,000 new drivers’ licenses. With a little more than 3 million licensed drivers in Oregon, it’s not surprising the DMV files almost 100,000 accident reports a year.
With so many drivers on the road, car accidents are bound to happen. Bridgeway Legal Funding hopes you’re never part of the state’s car accident injury statistics. If you are ever injured in a car accident in Oregon and need to secure a settlement right away, contact us as soon as possible. We’ll work with you to ensure your get your pre-settlement advance in days rather than months.