Getting a car accident loan in 2021 — A user guide

HM Capital
2 min readFeb 14, 2021

Since HM Capital is now offering legal funding for victims of car accidents, we decided to make a quick user-friendly guide to how you can get the best deals on car accident loans.

What do you need to qualify for an advance?

  1. You need a good car accident case, with strong liability and insurance coverage (and injuries to back up your claim).
  2. Have an attorney represent you against the insurance company.
  3. You case needs to be at least 15 days old, or have a strong paper trail to back up your claim. Typically a funding company we’ll need just 3 things — a copy of the police report, medical docs, and proof of insurance coverage.

What are the steps it takes to get an advance?

  1. Apply online or call the customer representative and tell us about your case.
  2. We will call your lawyer and verify the facts of the case.
  3. You get approved, sign a contract reviewed by your lawyer, and we send you the funds.

This entire process can take as little as 5 hours, and most clients get funded within 24 hours of case verification.

What is the cost of getting a car accident pre-settlement advance?

Once your case settles, your attorney will pay the funding company what you owe. The payback amount depend on two factors:

  1. The facts of your case — the better your case the less money you will owe back.
  2. The time it takes to settle your case — the longer your case takes, the more you will have to pay back.

typically, plaintiffs will have to pay back anywhere from 1–3% a month to the funding company.

Who should use lawsuit loans? Is it a good idea?

The answer to this question really depends on you — while legal funding is expensive, it is also immediate cash in your pocket that could take care of many of your life immediate bills such as:

  1. Rent to avoid eviction
  2. Mortgage to avoid foreclosure and losing your home
  3. Medical bills — for your injuries
  4. Credit card debt

More Information about getting a car accident loan from HM Capital:

visit our helpful information page online: