How To Qualify for Car Accident Lawsuit Funding

Disclaimer: Consumer legal fundings and advances are not loans under applicable financing laws. Rockpoint’s products are non-recourse, meaning if you don’t win your case, you don’t have to pay us back. Receiving financial support in connection with a legal case is typically (and oftentimes incorrectly) referred to as a “lawsuit loan” or “loan.” Therefore, for the ease of search references, these terms may be used in this context to refer to our funding products, but we maintain our separateness from consumer loan products in all legal aspects.

Are medical expenses and other accident-related costs threatening your financial peace following a car crash? Filing a lawsuit against the party responsible for your car accident may eventually solve this problem. For the time being, car accident funding could help keep your finances afloat as you await the outcome of your legal case.

So, what exactly is car accident lawsuit funding, and how can you qualify for it in the aftermath of a car crash? Find out below.

What Is Car Accident Lawsuit Funding?

Before discussing how to qualify for car accident funding, let’s begin by ensuring you know what it is. This should help you decide whether applying for car accident lawsuit funding is the right decision.

Car accident funding is a type of pre-settlement funding available to those filing car accident claims after sustaining injuries during crashes. It’s a pre-settlement advance you can collect to cover your current expenses while you wait for car accident litigation to play out.

One thing worth mentioning is that a car accident lawsuit loan is not a loan in the traditional sense. If you end up losing your car crash case, you won’t have to repay the money you receive after qualifying for car accident funding. It’s a form of non-recourse funding that only needs to be repaid on a contingency basis if your case is successful.

Who Is Eligible To Apply for Car Accident Funding?

Car accident lawsuit funding is often hugely helpful to those pursuing compensation for medical expenses and other costs through legal proceedings. However, not everyone involved in a car crash is eligible for this kind of funding.

Instead, car accident funding is reserved for those who have already filed a legal claim through a car accident lawyer. You must have a pending personal injury case and an attorney in your corner to qualify for the funding you need, effectively shielding the lending company’s risk.

How Can You Qualify for Car Accident Funding?

If you believe you could benefit from applying for auto accident funding, qualifying for it is easier than you might think. As long as you meet the eligibility requirements we just mentioned, lenders like Rockpoint Legal Funding make the process simple.

Unlike when you apply for other types of loans, you won’t be subjected to credit checks or have to share your employment and income history with Rockpoint to be approved for pre-settlement funding. Simply follow the steps below to see whether you qualify for car accident lawsuit funding.

Choose a Lender

About six million car accidents take place in the U.S. annually. Many of those involved in car crashes will at least consider taking legal action against other drivers and/or their auto insurance companies. This has led to a surge in the number of lenders that provide car accident lawsuit funding.

Look for a reputable lender, such as Rockpoint Legal Funding, which has been providing car accident victims with pre-settlement advances for years.

Complete an Application

Once you settle on a lender, fill out an application for car accident funding. Rockpoint Legal Funding will allow you to apply now in a matter of minutes.

Provide Rockpoint with some basic information about yourself, including your name, location, and contact information. Let this lender know how much money you wish to borrow, too, and give them your personal injury lawyer’s name and phone number.

Provide Requested Information

Rockpoint Legal Funding may ask for additional information after you apply for car accident funding. For instance, the lender may ask for medical receipts that highlight just how badly a car accident has hurt your finances.

Send any information that Rockpoint requests right away to prevent delays during the application process.

Wait Patiently

In many instances, Rockpoint Legal Funding won’t make car accident victims wait long at all to find out if they qualify for pre-settlement funding. If you have filed a fairly straightforward car accident case, you may be approved for a litigation loan within hours.

If, however, you have a more complicated case on your hands, you may need to wait a few days to hear back from Rockpoint about the status of your car accident funding approval.

Receive Car Accident Funding

If you’re approved for car accident lawsuit funding, you will receive the funds you need within 24 hours in many cases. Just provide Rockpoint with your banking information, and you may see these funds deposited into your account in as little as two hours.

What Can You Use Car Accident Pre-Settlement Funding For?

Those who qualify for car accident lawsuit funding can use it for almost anything they want. Many car accident victims utilize pre-settlement funding from lenders like Rockpoint Legal Funding to pay medical expenses before they go to collections.

You may also use Rockpoint’s non-recourse funding to pay for everyday expenses, including mortgage or rent payments, car payments, utility payments, and more.

Reach Out to Rockpoint Legal Funding To Apply for Financial Relief After a Car Accident

Qualifying for car accident lawsuit funding and receiving the financial relief you need isn’t complicated. Once you prove you have a pending personal injury lawsuit and a lawyer representing you, you will usually be approved for a lawsuit loan through Rockpoint Legal Funding.

Would you like to learn more about the accident settlement funding options that Rockpoint provides to car crash victims? Give us a call at (855) 626-3214 to discover more about how car accident funding works and how it can help you.