PERSONAL INJURY LOAN 

Definition

A personal injury loan is a loan whereby the asset(s) securing the loan is the potential financial proceeds or insurance settlement derived from a personal injury claim. The loan bettered defined as a cash advance which is only repayable if and when the personal injury claim is a financial success via settlement, verdict of otherwise. A loan which is contingent upon a future event is not actually defined as a loan but rather as an investment. Personal injury investment or personal injury advance are insurance settlement & plaintiff attorney terms more often used.

Facts

There are more than 987,000 personal injury related claims filed each year in the United States. There were more than 41,000 automobile accident fatalities in 2004 alone. Personal injury cash advances help level the financial playing field amount plaintiffs and defendants and provide the necessary means to pay for healthcare & immediate living expenses. As of January 2004, only 75% of plaintiff attorneys were aware of personal injury financial services being provided to plaintiffs.

Financial Advice 

Personal Injury loans or Personal Injury cash advances are more expensive than a conventional line of credit on your home so you need to be aware of the fees and only apply for the amount you need for immediate and necessary living expenses. A personal injury loan can be obtained very quickly, without a credit check and there are no income verifications. Be sure to pick the right firm and as questions about fees etc. Most importantly, if you are desperate for the funds quickly, apply now because you will always have the option of canceling later without paying any fees. Why do personal injury cases take so long? Insurance companies want to keep your settlement dollars as long as possible. They financially strong and will use this to their advantage in negotiating an unfair settlement. A personal injury settlement loan may help you avoid accepting a low ball settlement offer.

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