Injured in an Accident? What You Should Know About Settlement Loans for Personal Injury
No one is immune to a serious personal injury. According to the Canadian Centre for Occupational Health and Safety, 42,000 Canadians were injured on the job in 2014 due to slips and falls in the workplace. And don’t forget the possibility of injury on the way to work on public transit, at school, or simply walking down the street. Accidents happen, but there are ways to minimize the financial pain of serious personal injuries if you’re left unable to work and still need to pay your bills.
What many people don’t know is that they’re often eligible to receive a monetary settlement. With help from a personal injury lawyer, it’s possible to seek damages and negotiate a settlement without ever going to court. In fact, some reviews indicate that roughly 97% of personal injury cases were settled before a court appearance in 2014. If you or someone you know has been injured, here are some things you should know about settling a personal injury case and receiving a settlement loan.
What Can Be Done With the Money From a Settlement Loan?
Depending on the severity of the injury, working may be out of the question. With no income coming in, it’s easy to fall behind on monthly expenses. The question is, what happens while you wait for the money from the settlement to start coming in?
If you’re out of work for any period of time, a settlement loan helps to cover basic living expenses such as food, clothing, and shelter while you wait for your lawyer to settle your case. In cases where you require a caregiver during the recovery period, proceeds from your settlement loan can also be used to pay for those services.
While a settlement loan can’t undo your injury, it does help to relive financial pressures in the immediate term. While you’re recuperating, a settlement loan provides the peace of mind that allows you to focus on your health, not worry about destroying your credit rating with a traditional loan or having to sell your home just to pay the bills.
How Does an Injured Party Seek a Settlement Loan?
There are lenders willing to help. Should your case be underway and the lender pre-qualifies you based on the circumstances surrounding the case, you can still get money now to help with any legal fees, living expenses, and medical expenses. You will need to provide the lender with some details relevant to the injury and the status of the court case.
The Bottom Line
If you or a loved one has recently been injured, now is the time to act. CaseMark Financial provides settlement loans and other support for qualified applicants whose injuries are the result of another person’s negligence. Get the money you need without worrying any longer so you can focus on what’s most important: your health and recovery.