Were you injured in a car accident in Pennsylvania? If so, you could be eligible to receive a cash settlement. Getting compensated for your injuries is the good news. However, you may not get access to those funds right away, which can be an issue of if you need them sooner than later to pay for car repairs, medical bills or to replace your income if you’re out of work for an extend period. If you’re in any of those scenarios, waiting for your settlement is not an option.
Bridgeway Legal Funding helps you get the money you need now with a pre-settlement cash advance. These advances, which are also known as “lawsuit loans” are available to help you stay afloat financially until your lawsuit is settled and you can begin to work and earn an income again.
Pre-settlement funding is a cash advance against your car accident lawsuit. The advance is sometimes called a “lawsuit loan”, but that’s not an accurate name. Loans have to be paid back, right? Well, pre-settlement funding in Pennsylvania is a non-resource advance, which means if you lose your case, you do not have to pay back your pre-settlement advance.
According to the Pennsylvania Department of Transportation there were 8.9 million licensed drivers in the state 2018.
With that many licensed drivers that could potentially be on the road, it’s not surprising that there were 120,000 total crashes in Pennsylvania in 2018 that resulted in 78,219 individual industries.
If you find yourself injured in a car accident in Pennsylvania and can’t wait until your lawsuit’s settled to get your money, contact Bridgeway Legal Funding so we can help you secure your pre-settlement advance.
How does the pre-settlement advance process work?
Bridgeway Legal Funding goes through the same process with all of clients to help them get their pre-settlement advance:
- We’ll discuss the case with the plaintiff (you).
- We’ll review your case and figure out its estimated value.
- If approved, Bridgeway Legal Funding will offer you a pre-settlement advance of 10-20% of what we believe your case is worth.
Check out our “What is pre-settlement funding and how does it work?” video below to get a better understanding of what pre-settlement funding is.
You can also review the “How pre-settlement funding works section” on our website to learn more about this process.
How long does the pre-settlement advance process take in Pennsylvania?
Bridgeway Legal Funding doesn’t make its clients wait long for their pre-settlement advance. We secure pre-settlement funding in Pennsylvania faster than our competitors—usually within one to two days of you contacting us. If you’re injured in a car accident in Pennsylvania, we can get the pre-settlement advance process rolling almost immediately.
Call Bridgeway Legal Funding at (800) 531-4066 or submit an application to our website to get your pre-settlement cash advance process started right away.
How much can I borrow with my pre-settlement advance?
How much one can borrow for their pre-settlement funding is one of the questions we’re asked most often. Our clients are usually eligible for up to 20% of their case’s value.
We also take the following factors into consideration when we figure out what your case is worth:
- Liability—in other words, who was at fault in the accident? Sometimes it’s easy to determine, like when a vehicle is rear-ended. In other instances, like when a car is sideswiped, determining liability can be a little harder. Regardless of how difficult it is to figure out who’s at fault, Bridgeway will work with you to help ensure you get a fair pre-settlement advance.
- Damages—these are things like medical treatments, potential medical expenses and lost wages from missing work. We will take how much work you missed and multiply it by your current salary to determine calculate your damages. We will figure out if you can still do your current work duties going forward or will have to change jobs.
- Insurance—in many cases, you can only use what insurance is available to you after an accident. In Pennsylvania, insurance laws require drivers to have the following coverage to operate a vehicle:
- Bodily injury liability coverage: $15,000 per person, $30,000 per accident
- Property damage liability coverage: $5,000
- Uninsured motorist coverage: $15,000 per person, $30,000 per accident*
- Under-insured motorist coverage: $15,000 per person, $30,000 per accident*
- First party benefits: $5,000
*In Pennsylvania, you may request to reject the uninsured and under-insured motorist coverages.
Keep in mind these are the minimum required insurance coverages required Pennsylvania. If you feel you need more coverage however, you can buy more—the maximum amount of coverage you can purchase may vary by car insurance company. However, common maximum limits are:
• $250,000 for injuries per person
• $500,000 for injuries total, per accident
• $100,000 for property damage
To learn more about how much you can borrow for your car accident legal funding in Pennsylvania, visit the “How much funding can I get against my car accident lawsuit?” section on our site.
What else do I need to do to get a pre-settlement advance in Pennsylvania?
Here are essential things you have to do in order to get a pre-settlement advance if you’re ever injured in a car accident in Pennsylvania:
- Hire an lawyer who specializes in motor vehicle accidents
- Keep detailed records of the car accident and your injuries
- Request a copy of the police report and collect names of any potential witnesses
Make sure your law firm files a lawsuit within the legally allowed time. The statute of limitations in Pennsylvania is two years within the date of the accident.