Car Accident Settlement
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If you’ve been injured in a car accident and can’t work, a car accident loan can help you make ends meet by providing a cash advance on an anticipated settlement while your lawsuit is pending. Depending on the state you live in, you can get up to $1 million in 24 business-day hours without a credit check. And, unlike a traditional bank loan, you’ll owe nothing if you don’t win your case.
Apply for a car accident settlement loan today, or read on to learn more.
Key Takeaways
- Pre-settlement funding, often referred to as a car accident loan, is a cash advance against your expected personal injury lawsuit settlement.
- You can use the money to cover your regular monthly bills, medical costs, or any other expenses while your claim is in progress.
- Unlike a traditional bank loan or a personal loan, a car accident settlement loan does not require a credit check or monthly payments.
- You don’t have to repay a car accident settlement loan unless you win your case.
- You must be represented by an attorney to qualify for pre-settlement funding from your car accident lawsuit.
What Are Car Accident Loans?
Car accident loans, also known as pre-settlement funding, are cash advances of what injured parties expect to receive when their cases get settled in court. Your automobile accident case could take a year or more to settle, potentially causing financial hardship. An advance on your car accident settlement can help you bridge the financial gap between your accident and receiving the compensation you need for your injuries.
The amount of funding you can expect to receive depends on a few factors, including:
- The type and severity of the injury you sustained
- The evidence supporting your claim
- The circumstances of the accident
Generally, most applicants can receive about 10 percent of their expected settlement or value of their case. By conferring with your attorney, we can determine the most appropriate settlement funding for your case.
Pre-settlement funding does not have to be spent in any specific way. There are no restrictions on how you use the cash, nor do you need to prove how it was spent. We give you the freedom to use the money as you see necessary.
How Does Pre-Settlement Funding for Auto Accidents Work?
After a serious car accident, you may be left with painful injuries, mounting medical bills, and lost income from time off work. As a result, you might file a personal injury claim to make up for the losses. Pre-settlement funding can help ease the financial pressure while you wait for your case to settle, especially if you have to endure a lengthy litigation process.
When a car accident claim is settled, the victim agrees to accept a specified amount of money to release the at-fault party from further liability. Litigation, on the other hand, occurs when the defendant does not accept liability or does not agree to settle for an amount that is sufficient compensation, forcing the victim to take the matter to court.
Auto accident cases often take time, especially if they go to trial. Insurance companies may delay the process or offer low settlements, hoping you’ll settle for less upfront. Pre-settlement funding can provide financial stability while your attorney fights for a fair settlement.
At USClaims, we provide pre-settlement funding for car accident victims in the form of a risk-free cash advance. That means you only repay the funding if you win your case. Here’s how it works:
- Apply online or by phone: We’ll gather basic info about your case and connect with your attorney for details.
- Case review: We assess the strength of your claim—not your credit score—when deciding whether to provide funding to you. Approval of a car accident loan depends on the merit of your case.
- Receive your funds: Once approved, you can typically expect to receive your funds within 24 business-day hours.*
- Use the funds as needed: You may use your funding to pay rent, medical bills, groceries, or any other essential expenses while your case is pending, even if your case is heading for trial.
- Repay if you win your case: If you win, we’ll work with your attorney to collect what’s owed to us from your settlement. You do not need to worry about monthly payments. Remember, our funding is 100% risk-free. If your case is not successful, you don’t have to repay us.
Think You Have a Case?
Call us toll-free at (877) USClaims to speak with a friendly funding specialist today.
Who Qualifies for a Car Accident Advance?
Like most claimants, you might be anxious to find out if you qualify for an advance on a car accident settlement. Qualifications include:
- You were seriously injured in a car accident.
- You are involved in a personal injury lawsuit due to the accident.
- Your lawsuit has robust merits against the at-fault party.
- You are being represented by an attorney on a contingency fee basis.
Benefits of Pre-Settlement Funding After a Car Accident
Pre-settlement funding has many benefits, especially when compared to a traditional loan:
Helps You Avoid Debt
The bills will start to pile up if you’re unable to work due to your car accident and don’t have much cash saved. In this situation, using a credit card or taking out a personal loan to cover medical or living expenses can be tempting. However, since it may take years for your case to settle, you could end up in financial ruin while you wait to be compensated.
A car accident settlement loan can help you keep up with your bills in the interim. That way, a difficult time isn’t made even worse by accumulating debt.
No Risk If You Lose Your Case
With pre-settlement funding, we take the risk. If your case does not result in a settlement or court award, you get to keep the funding and owe us nothing in return.
If you take out a traditional loan or rely on a credit card, you’re responsible for repaying your lender no matter what happens in court. Plus, traditional loans and credit cards may charge compounding interest, adding to the amount you must pay back with each passing day.
At USClaims, we only charge simple, non-compounding interest and abide by a 2X CAP** that ensures you won’t have to repay more than twice the amount you were originally advanced.
Your life can be stressful enough if you do not win your case; you don’t need the added weight of paying back a huge loan or credit card bill.
Qualifying Is Easy
When you apply for pre-settlement funding, we do not check your credit or consider your employment or assets. Since pre-settlement funding is not a traditional loan and is to be repaid from your injury compensation, there is no need for us to have such requirements.
No Monthly Payments or Upfront Fees
Whereas traditional loans require payments each month, pre-settlement funding does not. We do not burden you with monthly payments. If the funding’s purpose is to help you pay your bills, we don’t want to add another monthly expense to your budget.
You receive your funding and do not owe us a penny until you receive your settlement or court award. At that time, your attorney will pay us from your settlement, so you do not need to worry about the logistics of paying us for your funding.
How Can You Use the Funds?
Car accident settlement loans do not have to be spent in any specific way. There are no restrictions on how you use the funding, nor do you need to prove how you spent it.
We give you the freedom to use the money as you see necessary. You can use it to cover everyday expenses, credit card bills, medical bills, business-related expenses, other bills you have fallen behind on after your accident, or whatever else you need to pay for at that time.
Medical Expenses
While car accidents are clearly common occurrences, not everybody is prepared to deal with the aftermath. You’re shaken up from the incident, likely without transportation and, unfortunately, injured. Some of the common types of injuries involving victims of a car accident may include:
- Head injuries and traumatic brain injuries (TBIs)
- Concussions
- Neck injuries, such as whiplash
- Burn injuries
- Soft tissue injuries
- Spinal and back injuries
When severe injuries and disabilities result, steep medical bills can follow, often making it impossible for the victim to cover their living expenses at the same time they deal with emotional stress.
We can help make things easier by providing the money you need to cover medical expenses while your car accident claim makes its way through the courts.
Vehicle Repairs
Your body’s not the only thing that got banged up in your car accident. Unfortunately, your vehicle may need extensive repairs to get back on the road. Common fixes can include:
- Bumper and hood or trunk repair or replacement
- Radiator replacement
- Engine repair or replacement
- Door, fender, or quarter panel repair or replacement
- Grill or lighting repair or replacement
- Interior cleaning or replacement
- Airbag replacement
Depending on the projected cost of the repairs and your car’s pre-accident value, you may want to buy a new vehicle. A car accident loan can help you repair or replace your vehicle and pay off any outstanding loans on the damaged car.
Paying Other Bills
If you list out your living expenses, you may be shocked by the number of bills you pay each month. A car accident settlement loan can help you stay current on all your bills and maintain a decent standard of living. You can use your funding to cover your:
- Rent or mortgage
- Utility bills
- Groceries, toiletries, and other consumable household goods
- Insurance bills
- Loan payments
You can also use the money for any other reason you see fit, including discretionary purchases that make your challenging situation a little easier.
Common Types of Car Accidents USClaims Provides Pre-Settlement Funding For
There are many reasons why a car accident may occur, and these incidents are unfortunately very common. The National Highway Traffic Safety Administration (NHTSA) estimates the number of police-reported crashes on U.S. roadways topped 6.1 million in 2023. Nearly 1.7 million of those crashes involved injuries and almost 38,000 caused fatalities.
Some of the common types of car collisions that may cause you to seek a car accident settlement loan include:
- Driving under the influence (DUI)
- Distracted driving
- Drowsy driving
- Speeding
- Reckless and aggressive driving
- Wrong-way driving
- Vehicle defects
- Truck accidents
- Bus accidents
- Motorcycle accidents
- Broadside collision
- Sideswipe accidents
- Rear end accidents
- Rollover accidents
- Pedestrian accidents
- Bicycle accidents
Depending on the details of your case, you may be eligible for a car accident loan if you’re involved in one of the above incidents. Speak to your attorney or contact us for more information about the pre-settlement funding process.
See How a Car Accident Settlement Loan Has Helped People Like You
The reviews are submitted by third parties that have conducted business
with USC in the past. USC does not control the content of such reviews.
with USC in the past. USC does not control the content of such reviews.
Where USClaims Provides Funding
We’re proud to offer services in 45 out of 50 states. Unfortunately, we can’t currently provide car accident loans in Arkansas, Kentucky, Maryland, Montana, Washington D.C., or West Virginia. Pre-settlement funding laws differ from state to state, so consult with your attorney about how the process works where you live.
How to Choose a Trustworthy Car Accident Loan Company
Unfortunately, not all pre-settlement funding companies have your best interest in mind. Bad actors may charge hidden fees, apply compounding interest, or trap clients in cycles of debt.
That’s why trust and transparency are key when selecting a car accident loan company. Look for a provider with a proven track record—like USClaims, which has supported plaintiffs nationwide since 1996.
We pride ourselves on being ethical and upfront with our clients, offering capped, non-compounding rates and a true risk-free guarantee: you only repay if you win your case. With over $1 billion funded in the last decade, USClaims proudly prioritizes your best interests and financial well-being.
Car Accident Settlement FAQs
How do you pay your car bills after an accident?
A car accident can leave you injured, unable to work, and with a growing pile of bills as you try to recover. In addition to the medical bills from your injuries and the monthly bills of rent and utilities, there is the cost of repairing and maintaining your car after being involved in a car accident. Fortunately, if your accident was caused by the negligence of another person, you may be eligible for pre-settlement funding through USClaims to help you cover your bills while your case is pending.
Are car accident settlements taxable?
When it comes to the car accident settlement process, many people are unsure as to whether their personal injury settlements are taxable. Generally, the answer is “no,” as lawmakers tend to believe that it is poor public policy to tax the monetary compensation of an injured accident victim.
However, according to the Internal Revenue Service (IRS), compensation received may be subject to taxation in some circumstances, requiring you to report the funds on your tax return. Some state laws may similarly tax compensation received on personal injury lawsuits. You should consider consulting a lawyer or financial advisor to learn more.
Can you negotiate a car accident settlement?
If you’ve been injured in an accident caused by a negligent driver, you have the right to compensation for your accident-related losses. In many cases, car accident claims are resolved through the settlement process with the at-fault driver’s insurance company.
Unfortunately, in many cases, the insurance company may offer inadequate compensation and try to convince you that your claim isn’t worth its actual value. For this reason, you should consider consulting a personal injury lawyer who can provide you with a good estimate of your claim’s worth. An attorney can then help you with negotiations toward a fair car accident settlement offer.
How much should I expect from a car accident settlement?
Unless you are a personal injury lawyer, you probably don’t know how much to expect from a car accident settlement following an incident in which you were injured. Car accident victims can sustain a spectrum of medical issues, ranging from relatively minor soft tissue and muscular contusions to more serious traumatic head and brain injuries.
You may have to undergo significant medical treatment and physical therapy or endure a lengthy medical procedure. Medical treatment after a car accident can cost a considerable amount of money, often reaching into the tens of thousands of dollars or even more. You should expect your car accident settlement to cover those costs, lost wages, and other related expenses.
When should I get an attorney for a car accident?
If you were recently involved in an automobile accident, you might be wondering if you should call a car accident lawyer to secure representation. An attorney can help you navigate the complicated legal system and get the compensation you deserve. You may want to consider hiring a lawyer if:
Your car is severely damaged or totaled.
You sustained serious injuries.
You will miss work due to injuries sustained in the crash.
The at-fault party contests their liability.
The at-fault party’s insurance company offers you a low settlement amount.
Generally, you don’t have anything to lose by putting a lawyer on your case. If they work on a contingency fee basis, you don’t have to pay them unless you win your case.
Is there financial help for car accident victims?
To help you through the difficult process prior to receiving your settlement, you can take advantage of what is known as pre-settlement or litigation funding to get cash quickly. Pre-settlement funding is sometimes referred to as a “lawsuit loan” or, in this case, a “car accident loan.” However, it is important to understand that it is not a traditional loan.
When you use pre-settlement funding, you sell a portion of your anticipated proceeds in exchange for a partial advance on the value of your case (usually 10% of the future value). For example, if the person who caused the accident had the minimum coverage of $15,000 per person for bodily injury, you could get an advance of $1,500.
A benefit of pre-settlement funding is that it is a non-recourse cash advance. As a non-recourse cash advance, you don’t have to pay the litigation funding company anything if your case is ultimately unsuccessful. This is a great way to get access to necessary funds without the stress of worrying about paying those funds back.
Is pre-settlement funding better than a personal loan?
While a personal loan could help you cover your living expenses until your case gets decided, a pre-settlement funding loan may be a better option for the following reasons:
You only have to repay your car accident settlement loan if you win your case. You have to repay a personal loan whether you win or lose your case.
You don’t have to make monthly payments on car accident settlement loans. Payment is not due until after the case resolves and the defendant pays the settlement or judgment. With a personal loan, your repayment obligation begins soon after you receive the money, potentially straining your budget.
You don’t need a certain credit score, annual income, employment status, or amount of cash in the bank to qualify for a car accident loan. Personal loan lenders have strict eligibility criteria that you must meet to receive funding.
Can I claim lost wages from a car accident?
If you can’t earn a paycheck due to the injuries you sustained in the car accident, you can claim lost wages in your lawsuit. You’ll be entitled to the amount you would have earned from the date of the accident until the date you return to work.
How Quickly Can Pre-Settlement Funds Become Available?
We understand what it’s like to be in your position and work quickly to provide the funds you need. Once your application is approved, you can receive your pre-settlement loan within 24 hours*. We generally send the money directly to your attorney, and your attorney’s firm then distributes it to you.
Can You Get Pre-Settlement Funding Without Lawyer Consent?
Lawyers are essential to obtaining pre-settlement funding. Your lawyer will share important information about your case with us. If your case is strong, has a reasonable time frame, and the expected award falls within our guidelines, your probability of being approved is high.
During pre-settlement funding, a lawyer’s role isn’t just to provide information; they are also responsible for actively litigating the case on your behalf toward a successful resolution. Once the case settles, your lawyer will receive the settlement funds first. Then, they’ll use the proceeds to repay us before disbursing the remaining cash to you.
It is your lawyer’s duty to protect your interests and the rights of third parties to the settlement proceeds. This means you can’t get pre-settlement funding without a lawyer’s consent.
What Should I Look for in a Pre-Settlement Funding Provider?
When choosing a pre-settlement funding provider, look for a company that issues funds quickly upon application approval, charges fair and transparent interest and fees, and has been operating successfully for many years. You should also check out reviews from satisfied customers.
Have Questions?
Our pre-settlement funding experts will walk you through our entire process.
Disclaimer: Throughout this website, the term “loan” may be used for convenience to describe pre-settlement funding. However, such transactions are not loans in the legal sense. Repayment is strictly contingent upon the successful resolution of your case. If your case is unsuccessful, no repayment is required. Common terms like “lawsuit loan” are used colloquially but misrepresent the non-recourse nature of pre-settlement funding.
*Funding subject to approval. We typically fund within 24 business-day hours after we receive a fully-executed contract. Additional restrictions may apply. Contact for details.
**2X CAP may not be applicable for all types of cases and/or jurisdictions.
