Quick. Easy. Safe.
Auto accident settlement cash advances from Nova Legal Funding.
- Were you in an accident?
- Are you working with an attorney?
- Are your bills magically paying themselves while you wait for your settlement?
If you answered no to the last question but yes to the first two, you could qualify for a car accident loan from Nova Legal Funding within 24 hours (and often, the same day!).
Car Accident Loan FAQs
What is a Car Accident Loan?
It’s not actually a loan at all. To be a loan would require repayment.
What we offer are non-recourse cash advances against your potential car accident settlement. In other words…
If you lose your case, you don’t owe us a dime. Seriously. Here’s how it works:
- You apply for funding which takes roughly 30 seconds.
- We talk to your attorney about your case.
- We get back to you – normally within 24 hours – to tell you if we can offer you an advance.
- Your lawyer reviews and signs the funding agreement with you.
- We send you cash.
If you aren’t quite ready to apply, give us a call anytime at 800.760.0704. Our staff will be glad to walk you through the process and answer any questions that you have.
We also encourage you to check out the ultimate guide to lawsuit loans. This is the most comprehensive resource of its kind and will help you fully understand the pre-settlement financing process and industry.
Or, keep reading this article for more information about getting a “loan” against your car accident settlement.
Are car accident loans actually loans?
No. A car accident loan is actually a cash advance against any potential settlement from the case. This means that they are contingent upon the existence of a settlement—if you don’t receive a legal settlement, then you are not required to repay any of the amount borrowed. The word loan is used for convenience, but because these funds are not actually loans, they are not subject to lending laws.
Do I qualify for a pre-settlement car accident loan?
Generally, you are qualified for an accident loan as long as you’ve suffered an injury in an accident and hired an attorney. This is because most accidents and injuries are covered for a pre-settlement car accident loan, including some of the most common accidents involving bicycles, motorcycles, buses, and other vehicles that result in fractures, head injuries, and soft tissue damages, to name a few.
What determines the amount of cash that I qualify for?
The amount of cash you’re qualified for usually depends on the severity of the injury. Because your pre-settlement car accident loan is based on your potential settlement, the larger that settlement, the larger your qualified cash payment. Depending on your injury, Nova can advance you anywhere from $500 up to $2,500,000.
Will my accident attorney be involved in this process?
Yes. After you apply, Nova will work with your attorney to determine if your case qualifies for the pre-settlement loan. Then, you will both sign the funding agreement. This way, you can be sure that you are receiving your pre-settlement funds without any unnecessary risk.
How long will it take to get my cash advance once I am approved?
While there’s no guarantee, once we’ve spoken with your accident attorney and determined that you qualify for a cash advance, you may receive your funding in as little as 24 hours.
What do people who get pre-settlement auto accident loans typically use the money to pay for?
While there’s no requirement to use the money in any particular way, many people choose to use the funds they receive to cover the various expenses involved in a personal injury lawsuit, including legal fees, medical bills, and living expenses (like rent), making other payments. Having this money can be incredibly useful, especially because victims of an accident may not work.
Is it risky for me to get a loan against my pending accident settlement? Will it hurt my credit score?
No, getting a pre-settlement car accident loan will not hurt your credit score, and in fact, it may actually be better for your pending settlement. Because you only pay if you recover compensation, there’s no risk if you lose.
Further, because many personal injury cases can last months or even years, it can be difficult for plaintiffs to wait for a settlement due to financial strain. Receiving a pre-settlement car accident loan can help you wait longer and remove some of the leverage held by large insurance companies.
What happens if my accident claim takes months or years to get resolved?
Unfortunately, many injury cases can last a long time, making it difficult to obtain a settlement until a lengthy legal battle is complete. If this happens, you will be subject to larger interest and fees on your funds. Nova offers the most competitive rates, some as low as 1-3%.
Can a car accident cash advance actually help me win a bigger settlement?
To win maximum compensation for damages, you must give your attorney the time they need to litigate your case. Generally, that could mean waiting years, as auto accident claims could last 2 to 3 years. Without a car accident cash advance, the average American cannot wait that long due to financial strains.
Insurance companies take advantage of cash-strapped accident victims by offering them meager and unfair compensation in exchange for a quick and early settlement. Fortunately, a car accident settlement advance from Nova Legal Funding can help you avoid that scenario by eliminating your need to settle early.
Many plaintiffs give up due to financial pressures and settle early for a low payout. The consequences of making this mistake can mean the difference between walking away with $500,000 or $15,000! The best way to maximize your ultimate settlement is to see your lawsuit through and never give in to the insurance companies. With a cash advance on your auto accident lawsuit settlement, you buy your attorney time to achieve just that.
In simpler terms, a car accident settlement advance takes the leverage away from the insurance company and gives it to you, the plaintiff!
How do I know if getting a car accident settlement loan is the right move for me?
1. You’re seriously injured and can’t work
If your injuries are not serious and your financials are in order, auto accident settlement loans are probably not for you. Remember that getting a cash advance on a pending lawsuit is not free. Once your case is settled, you will pay a fee on whatever money you had advanced to you in the beginning. To know more about the processes and how it works, read this.
You should consider car accident settlement loans as a last resort option. If you can afford food, rent, gas, and other fundamental necessities, you are better off waiting for your case to settle.
Though, if your injuries are so bad that surgery and other treatments made it impossible to support your family, applying for an advance on your settlement is a no-brainer. Lawsuits take a long time to settle, and the bills that pile up in the interim will wait for no one.
2. Insurance companies are low-balling your case value
The insurance companies have only one goal when dealing with your case: pay you as little money as possible. The longer you are willing to sit on your case, the more you convince the adjuster that you and your attorney mean business.
Car accident lawsuits are a game of patience. The longer you are willing to stay in the game, the larger the settlement offers from the insurance companies will be as time goes on.
When you give your attorney the time he needs to fight for your just compensation properly, the outcome is that your case will increase in value. To learn more about how car accident settlement loans can increase the value of your case, read this article.
3. You require immediate cash that is easy and risk free
Unlike other avenues that provide monetary support, getting an auto accident settlement loan is extremely simple. The only factors for approval have to do with the facts of your case. Your credit score and earning power will have zero effect on your chances of getting approved.
Best of all, car accident settlement loans are completely risk-free. You only pay the money back if you win the case. Also known as non-recourse funding, this type of financing places 100% of the risk on the lender, not the consumer.
How do I get pre-settlement funding for my auto accident case?
Once you decide that car accident lawsuit funding is right for you, the next step is choosing the best lawsuit funding company for the job. At Nova Legal Funding, we offer a variety of benefits for injured plaintiff, including but not limited to:
- The absolute lowest rates in the industry—guaranteed
- Transparency and helpfulness throughout the entire process
- Zero monthly payments, no upfront costs, and 100% risk free funding
- Friendly staff, standing by 24/7 to answer any question
- Lawsuit funding unrivaled in speed—24 hour cash transfers
- Nationwide services from our headquarters in Los Angeles, California
Apply For a Pre-Settlement Auto Accident Loan Now
Our staff is ready and dedicated to serving your car accident funding needs. We know you’re going through a rough time, so we’ve designed our approval process to make your life as easy as possible. You’ve gone through enough red tape already; you shouldn’t have to endure time-consuming paperwork to get the cash advance you need. When you apply for car accident loans with NLF, you can expect low rates, fast cash, and the best customer service around.