Are you an individual recently injured in an auto accident and wondering whether your case qualifies for a lawsuit loan? If that is a case for you, we've provided information intended to assist you in making a determination as to whether your case would qualify for such funding.
If you are able to locate a good broker, that broker will be more than happy to assist you in obtaining the lawsuit loan you seek. You may rest-assured, that if you have such a broker, the broker will do everything to assist you in obtaining that funding as quickly as possible! Of course, the benefit of using a broker is that you will not have to rely on merely one source of funding, but will be able to locate the best funding-source for your needs.
However it is essential that you assist your broker in obtaining the necessary information to obtain funding as quickly as possible. To speed that process along, it is necessary to obtain various documents so that your case may be reviewed to assess both the strengths and weaknesses of your case and to determine a realistic settlement-value.
Some brokers have a great deal of experience in handling the very type of case that you will submit in an effort to obtain a lawsuit loan. If you're careful in your selection of your broker, you may find a team that cannot be matched anywhere with respect to both experience and knowledge in handling such cases, as well as an ability to locate the best possible source of funding for your case.
If you're injury occurred as a result of an auto accident, it is very likely that your claim will be classified as an "Auto Accident" case. If you were injured in an auto accident and wish to obtain the most successful outcome and quickest response to your request for funding, it will be necessary for you to obtain and submit specific documents:
Police report: The police report is essential in identifying the parties that are responsible for the injury sustained. Your broker, upon reviewing the police report, will likely be able to identify not only the parties injured, but also the parties responsible for the injuries sustained. The police report will also identify information related to the insurance carrier, any observations recorded at the scene, as well as additional documentation. (In many police reports, no injuries will be reported. One should not be concerned regarding the absence of such reporting. It is important to recall that police officers are not trained in the evaluation and diagnosis of injuries that may occur as a result of auto accidents. It is often the case that police officers conclude that there are no injuries at the scene merely because no blood is observed, there is no evidence of broken bones, and the parties are able to exit their vehicles without assistance.)
Adverse insurance information: The term "adverse party" refers to the individual, in most cases, who caused the injuries. It is necessary to find out who is at fault and who will be responsible for paying the settlement you may be awarded.
Medical Expense Summary and Demand Letter: To obtain a settlement, it will be necessary for you to demonstrate damages. A Medical Expense Summary is an excellent vehicle by which you can, at least to some extent, convey that information. The Settlement Demand Letter is a document your attorney will prepare on your behalf. This Demand Letter will be submitted to the insurance company (i.e., party responsible for payment-a/k/a "payor") for review to allow the adverse party to determine whether some settlement will be offered or the claim will be denied. In the latter case, litigation is likely to ensue. The term "litigation" merely refers to the process of the case going either to court or administrative proceeding.
The Medical Expense Summary would customarily include hospital/emergency room records (e.g., admission, discharge summaries; and operative reports) and doctor's reports. It is very important to disclose the foregoing information. If that information is misrepresented, it may severely compromise your settlement.
Insurance coverage that you have: To be able to provide the lawsuit loan you're seeking, the broker must know what insurance coverage you have (e.g. health insurance, uninsured motorist, med pay, PIP, etc.). Once again, if you failed to disclose the information, you may find that your case will not be funded. Subrogation is a process that occurs in many cases and it allows, for example, insurance carriers to demand repayment of any monies paid on your claim during the course of litigation. If you wish to succeed in obtaining your lawsuit loan, you must clearly identify other funding that has been obtained, as well as funding sources that are available to you.
If you have obtained prior loans/advances, the broker must verify that those loans/advances have been paid: You are advised to be very candid in discussing any loans/advances that you obtained prior to submitting your current request for a lawsuit loan. The broker must be able to evaluate that information to determine whether such funding is appropriate in your case.
Remember, the quicker you get the necessary documents to your broker, the quicker they can determine whether your case qualifies for the lawsuit loan requested! The process is often simplified by providing a toll-free number to which both you and your attorney may submit the necessary documents.
About the Author:
Learn more about lawsuit loans. Stop by Dr. Tom Rhudy's site where you can find out all about the benefits of obtaining a lawsuit loan and what it can do for you.
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