Methods For Handling Financial Obligations Prior To Arrival of Settlement Money
The bills do not stop, while you wait for the anticipated settlement money. How can you arrange to pay them?
Consider taking out a pre-settlement loan
Some, but not all loan companies serve as the source for such loans. The lending company estimates the value of the potential customer’s case. The same company then offers a loan that equals in value all or part of the case’s value. The recipient of the loan must repay the loaned amount when his or her case has settled.
Usually, if there is no settlement, then the lender does not ask for any money. Still, the same lender could charge a monthly fee, until the case’s outcome was decided. Moreover, there would be no guarantee that the case’s estimated value would match with the amount of money delivered to the claimant/plaintiff, following a final agreement between the opposing parties on a settlement figure.
Rely on health insurance
If an accident victim has paid for health insurance, then he or she enjoys the ability to make one or more claims on that same health insurance policy. That is one significant difference between the single claim that is allowed by the car insurance company, and the series of claims for treatment costs, as well as rehabilitation expenses.
Another big difference relates to the fact that the payments made by a health insurance provider continue until the patient has fully recovered. In other words, if some time elapsed between an initial recovery and the appearance of new symptoms, or of unexpected complications, the health insurance would cover those same expenses.
That approach contrasts with the one taken by an auto insurance company. Once the treating doctor has judged that an injury has reached the stage of maximum medical improvement, the claimant/plaintiff must sign a release form, in order to receive any compensation. That signed release form frees the auto insurance company from needing to cover any further medical expenses.
So, if the victim were to suffer complications, as a result of the treatment, or due to the emergence of new symptoms, the auto insurance company would not agree to cover those additional costs. That is also the risk that any accident victim takes, if he or she has chosen to assume the absence of any type of injury, as per personal injury lawyer in Nepean.
Seek help from a charitable organization
If an accident victim were to face the need to deal with a disability or a disfigurement, he or she could have some large expenses. A charity might be able to provide financial assistance. Personal injury lawyers often have access to a list of useful charities. Those victims that have failed to retain a lawyer might need to start some sort of go-fund-me account, online.