Have you been injured in a car accident in Iowa? Data from the Iowa Department of Transportation shows that there are thousands of injuries related to car accidents in the state each year--which often, unfortunately, means thousands of people are put into a tough spot with car repairs, medical debt and no way to repay it. If you’ve been in a car wreck, the best way to maximize your compensation is to hire a personal injury lawyer to fight for the full value of your case. But what happens when your settlement is expected to take months, or even years, and you cannot afford to wait?
Read on to learn more about getting pre-settlement funding from Bridgeway Legal Funding. Pre-settlement funding can provide you and the financial flexibility you need now while your attorney fights for the settlement you deserve.
What is pre-settlement funding?
Pre-settlement funding, sometimes called a "lawsuit loan" or a non-recourse cash advance, is a risk-free cash advance that is intended to help cover the cost expenses after an accident while you wait on your settlement. This money can be used for medical, bills, rent and mortgage payments, and more.
To learn more about pre-settlement lawsuit advances, visit Bridgeway's Guide to Funding.
Is pre-settlement funding a loan?
Pre-settlement funding is not a loan at all. We do not process a background or credit check during our approval process, and you don’t need to pay any money back if you do not win your case.
How much funding can I receive for an Iowa car accident?
The amount of money you could potentially receive from an Iowa car accident depends. There are many factors we assess in determining how much you can receive. Generally, we examine the liability (fault), associated damage, and insurance coverage related to the accident, and find a number from there.
Since every accident case is different, the best way to discover how much money you can receive is to apply with Bridgeway Legal Funding as soon as possible.
What do Iowa car insurance state minimums matter?
When our cash advance team is reviewing your application, we look to see how much insurance coverage is available to cover the cost of the damages that are associated with the car accident.
According to Iowa Insurance Division, Iowa law requires minimum liability coverage covering the following:
- $20,000 of bodily injury to or death of one person in any one accident
- $40,000 because of bodily injury to or death of two or more persons in any one accident
- and $15,000 because of injury to or destruction of property of others in any one accident
Let’s say you have only the minimum amount of insurance coverage that’s required by Iowa state law--and the damages from your car accident exceed what your policy can cover. If this unfortunate event occurs, you’ll need assistance closing the gaps of what your insurance can’t afford. If you can wait months, or even years for your car accident settlement, you can use that money to cover these expenses. But if you need cash now to recover from your accident, pre-settlement funding can be a lifeline.
For more information on Iowa State Auto Accident data visit their website here.
How do I apply for pre-settlement funding?
- Contact Bridgeway Legal Funding. You can visit us on our website and fill out an application form, send us an email or call our office.
- We’ll chat with you regarding the details of your case, and will reach out to your lawyer to get all the information we need. As a reminder, we never perform a background check or credit check.
- In as a little as 24 hours, we can approve your application and give you an idea of how much of an advance you can receive.
- Once approved, you’ll receive your money via wire transfer to your bank account, Western Union or an overnighted UPS check.
Remember, this type of funding is non-recourse, so if your Iowa car accident case is unsuccessful, there’s no need to pay back the case in advance. The sooner you apply, the sooner you can get the money you rightfully deserve after your accident.
Apply for a non-recourse cash advance with Bridgeway Legal Funding today to get the financial help you deserve after an Iowa car accident.