Getting a car accident loan in 2021 — A user guide
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?
- You need a good car accident case, with strong liability and insurance coverage (and injuries to back up your claim).
- Have an attorney represent you against the insurance company.
- 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?
- Apply online or call the customer representative and tell us about your case.
- We will call your lawyer and verify the facts of the case.
- 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:
- The facts of your case — the better your case the less money you will owe back.
- 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:
- Rent to avoid eviction
- Mortgage to avoid foreclosure and losing your home
- Medical bills — for your injuries
- Credit card debt
More Information about getting a car accident loan from HM Capital:
visit our helpful information page online: https://hardmoola.com/car-accident-loans/