Typically when a person is associated with an accident they will find themselves not able to work and slowly lacking funds. Although eventually the person might receive an insurance coverage settlement that will ultimately compensate them for the injuries they have received, the normal accident mishap victim has to often determine what to do till they receive this settlement. One possibility is a “suit loan” otherwise known as “claim funding,” “suit financing” or a “lawsuit cash advance.” Elia & Ponto is one of Michigans leading car accident law firms with years of experience.
A “suit loan” or “lawsuit cash advance” is a cash advance made versus the proceeds an accident mishap victim will get from an insurance coverage settlement or injury suit. Technically the cash advance is not a loan since the proceeds never ever have to be paid back if the accident victim gets no settlement.
“Lawsuit loans” or “claim cash loan” will often be provided in cases that include accident such as automobile accidents, medical malpractice claims, slip and fall mishaps, item liability claims, animal bite claims and worker’s compensation injuries where the victim is represented by an attorney.
An individual will usually get a “suit loan” or “suit cash loan” by getting in touch with a company such as Lawsuit Cash Advance, LLC (www.lawsuitcashadvance.com) that provides this kind of specialty financing. The person will be expected to provide info relevant to their case in order to be examined as a possible recipient of a “lawsuit loan” or “claim cash loan.”
At first they and their lawyer will need to submit a questionnaire, and this request for info will be followed up by a request for any extra documents pertinent to the person’s injury case such as police reports, incident reports, medical professionals’ expenses, medical records and other legal documents. Elia & Ponto can help you file a Detroit auto accident claim in 2018.
As soon as the individual has provided all the required paperwork needed to assess their case, a claim financing company such as Lawsuit Cash Advance, LLC will then examine the accident victim’s case in the same way any underwriter would. An evaluation will have to be made regarding the likelihood that funds advanced will eventually be paid back and to the quantity the injury accident victim can actually be advanced.
As soon as the personal injury accident victim’s case has actually been examined, if they qualify they will then be released a “claim loan” or “suit cash advance.” Funds can usually be offered within 24 hours of invoice and approval of the application and all supporting paperwork.