Many times, the fact that the plaintiff is dealing with injuries, coupled with the mounting bills and lack of income, will make them desperate to settle for whatever the defendant is willing to offer. Even if it is a much lower number than what your attorney might have projected that your case is worth, you may be desperate to get your hands on any money at all. This will take you to make an unwise decision and say yes to the first amount offered, no matter how low. The insurance companies have lived through plenty of situations similar to yours and can easily visualize your dire situation. They know that it is likely that you will accept a low offer because of the financial pressures of your life. They also know that the longer it takes for the case to be resolved, the higher your financial anxiety will be. Getting a car accident settlement loan will give you not only that much-needed breathing room, but it will also put you in a position of strength when it comes to negotiating. These loans offer you a way to end up with a much higher settlement amount. Do you have to repay the money? This is a very important question because right now you don’t need to add any more worries to your growing list. That is why you can rest assured that should your car accident claim eventually be denied, you do not need to repay the loan. This type of lending arrangement is known as a non-recourse loan, and what it means is that the car accident loan is secured solely by your future settlement, nothing else. If, for whatever unexpected reason you end up not winning your case, the lending company will have no other legal recourse available to recover the money from you. In short: you receive no settlement and you make no payment. That’s it.

When you have been in a car accident and want to research car accident settlement loans, it is important that you follow a simple three-step guide. Following these steps will allow you to get the loan you need to pay for your car’s repairs, and to defray future accident-related medical expenses. You will also be on your way to being able to buy a new vehicle. Car Accident Loan Consultations and Credit Check The first thing you must do is consult with your specialist for auto accident loans to find out if there are any pre-settlement funding options that may help you with the car accident you suffered. Although most insurance companies have programs that can be used to cover your car accident injury, car accident loans can be a very practical and viable option. If you need surgery, the pre-settlement loan may also cover your hospital bills and medical expenses that can arise as a result of your accident.