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A car accident is not something we would wish on our worst enemies. When a car accident occurs, people are prone to accidents. These accidents can cause injuries as minor as a scratch, or situations as hard as the death of a loved one.

In the United States alone, approximately 1.3 million people die annually due to auto-accidents while another 20 to 50 million are injured or left with permanent disability.

After a car accident, victims claim insurance compensation from the other driver’s insurance company. During negotiations, the insurance company may come up with compensation that you deem unfair. This may be because the other drive is underinsured.

The insurance company of the other driver may also come up with a figure that does not cover your medical bills and car repair cost. Insurance companies also do not keep in mind non-economic losses you may have suffered. These losses include loss of a loved one, emotional distress, pain and suffering. In such a situation, seeking a lawsuit is the best recourse.

Lawsuits are time-consuming, emotionally and financially draining. They can take a couple of months or even years to get a ruling. If you have no enough financial capabilities and you still want to seek a lawsuit, seeking car accident loans would be a viable option. These are pre-settlements that enable applicants to acquire money that can be used for their daily survival. A plaintiff can use this money to clear their medical bills and other financial obligations like utility bills. If one fears they might lose their house, they can clear the mortgage payment or make partial payments.


The greatest benefit of the car accident loan is, in case you lose your case, you will not pay any money to the pre-settlement company.

Another major benefit of applying for the car accident loan is that you will get the maximum possible settlement from the other driver’s insurer. Most insurance companies will take advantage of the plaintiff’s lack of funds. They offer unjust settlements in exchange for quick settlements.

Car accident loans do not need any sort of collateral. Pre-settlement companies will not ask you for bank details or a verification of your employment. They do not also perform background checks on any of their clients.

Whether or not you qualify for a loan is purely dependent on the kind of injury you have acquired and the type of case you have.

Some of the common cases that will qualify you for a pre-settlement loan include:-

  • Head trauma
  • Spinal injuries
  • Brain damage
  • Amputation
  • Severe scarring and disfigure
  • Death of a loved one.

All in all, it is for you as a car accident victim and your lawyer to come to the decision to sue or not to sue. If you decide to sue them, do a thorough background check on the pre-settlement company with whom you seek their services. This is crucial because some companies will have interests doubling and even tripling the initial amount borrowed.