Pedestrian Accident Loans
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Pedestrian Accident Lawsuit Loans | Provident Legal Funding
Everyone is a pedestrian at some point in the day, and despite our unique differences, we all have at least one thing in common.
No one expects to be struck by a vehicle while they’re walking from Point A to Point B.
Data from the Center for Disease Control shows that in the year 2015, almost 129,000 pedestrians received emergency medical care due to non-fatal crash related injuries.
In that same year, the National Highway Traffic and Safety Administration found that a pedestrian was injured in this type of crash every 7.5 minutes.
24 Hour Pedestrian Accident Lawsuit Loans
A driver who is traveling at even 10 miles per hour can severely injure, if not disable a pedestrian.
If you were injured in this type of accident, you’re likely facing serious financial strain. Even if you do have the ability to pay what’s owed, the road to recovery can make it impossible to work. If your income stream becomes interrupted, not only can the financial strain become all to noticeable, it’s the type of stress that can keep you awake at night.
The defendant is aware of that—and they can exploit your situation in hopes of getting you to settle early.
At first, a $50,000 settlement offer may seem like a lot, especially when your rent is due, but after you pay your attorney, are you really left with all that much? If you know you have money coming your way, but it could be months before you actually receive your settlement. Thankfully, pre-settlement funding provides a safe, risk-free solution.
With a pre-settlement advance, not only can you pay your day-to-day expenses, it can help you ride out the lawsuit to its end.
Riding your lawsuit out to the end is what it will take to get the most out of your settlement.
Recoverable Damages in a Pedestrian Accident Lawsuit
Liable drivers may need to pay damages beyond those that are tied to medical bills and lost wages.
Depending on your case, the defendant may also be responsible for damages related to:
- Pain and suffering
- Permanent disfigurement
- Permanent disability
- Funeral expenses
- Damages suffered by the spouse and/or family of a person who was injured or killed as a result of a pedestrian accident (this is also referred to as “loss of consortium”)
Other Liable Parties
When most people think of pedestrian accidents, they assume the driver of the vehicle is the only at-fault party, but in some cases, the municipality may also bare responsibility.
If you were struck as a result of a broken street light, or if you were struck by a vehicle while walking in a high-traffic area where no traffic control devices were installed, your case may include an element of municipal liability.
The same holds true if you were walking in a poorly placed crosswalk.
For example, if a person is struck by a vehicle while walking in a crosswalk that was installed on a busy street, immediately after a curve, and the street lacked appropriate signage to alert drivers that a crosswalk was coming up, the municipality may be liable for damages.
If you feel your injuries may have been a result of municipal negligence, you’ll want to address your concerns with your lawyer. This could impact the amount of your overall settlement.
Things to Know About Pedestrian Accident Lawsuit Loans
A lawsuit loan is not your typical loan for the following three reasons:
- Your eligibility is not based on your credit score
- There’s no debt created
- If you lose your case, your lender takes the hit, and you owe them nothing
The reason the funder can do that is because lending against a personal injury lawsuit is a reasonably safe bet. This is especially true for automobile related accidents, since the liability, in most cases, is fairly clear.
What this means, is that the funder can offer you a hefty sum, while charging you incredibly low repayment rates. While a personal loan can have rates of up to 16%, the rate for a typical lawsuit loan hovers around 3%.
If you need help paying your bills, a pedestrian accident lawsuit loan can help you get a portion of your settlement now, while allowing you to pay it back once the case is over.
At Provident Legal Funding, we can get you the cash you need within 24 hours.
While we encourage all plaintiffs to take their time when choosing a lender, we understand time is often an issue. Don’t let your bills pile up unnecessarily.
Qualifications for Pedestrian Accident Lawsuit Loans
If you are over the age of 18, there are only a few factors that contribute to your qualification for funding:
- You have hired a lawyer on contingency – Having a lawyer who is willing to work on contingency is usually a sign that your case is strong. Not only is your having the support of a legal professional important to us, it can help give us an idea as to how much of your settlement is already allocated.
- You have a physical injury from the accident – Non-physical damages are hard to assign value to. For that reason, we exclusively work with plaintiffs that were physically injured in the accident. The extent of the injury does not affect qualification, but it may result in a lower assigned value.
- The other party must be liable – Of course, we can only lend to plaintiffs with a strong case. If there is confusion over who is at fault, we may not be able to approve you.
If you meet all of these requirements, then congratulations. You are the perfect candidate for pedestrian accident lawsuits. Your next step will be applying to various lenders, like Provident.
How Much Pedestrian Accident Lawsuit Funding Can I Get?
The amount of funding you can receive depends entirely on the value of the settlement. With pedestrian accidents, the value of the settlement can vary greatly. For example, someone whose knee was sprained from the impact will not be seeking nearly as much in damages as someone with spine injuries.
The maximum amount that funding companies are generally able to give, is 20% of the settlement amount. You will, however, want to bear in mind that taking the full 20% will cut into how much you take home and yes, the money will still be yours if you only use half of it.
When deciding how much of an advance to take, you’ll want to keep your actual needs in mind; remember,the repayment rate on $10,000 in funding will be higher than the repayment rate on $5,000 in funding.
Working closely with your lawyer can help you figure out how much of your settlement you can afford to lose in interest.
Provident Legal Funding
At Provident, we believe in justice, and we believe in empowering plaintiffs. The liable parties should be held accountable for their negligence, and a lack of funds on your part should not let them off the hook.
If you need to get back on your feet after a pedestrian accident, we can help. Call us today and we will help you get on the path to compensation. We can fight this fight together.