We spend a lot of time on this blog talking about personal injury lawsuits and the financial relief that they can provide to those who have been injured in a car accident. While it’s true that one of these claims may give you the relief that you need and deserve, if you’ve been injured in a wreck then you might have more immediate concerns. Amongst them are simply paying your medical bills, keeping the roof over your head, and putting food on the table.
As scary as your situation can be, there are options out there to help you bridge the gap between your accident and the resolution of your personal injury claim. Here are some of them:
- Insurance companies: Whether it’s your own or the other driver’s, start analyzing what these insurance companies will pay for while you await resolution of your personal injury claim. While they’ll probably help cover at least some of your medical expenses, make sure you understand the extent of these policies so that you can maximize your use of them.
- Hospital lien: Medical providers deal with car accident victims all the time. They understand that you may not have the money right now to cover all of your expenses, especially if your injuries were significant. That’s why they’re usually willing to enter into an agreement with you whereby the hospital takes an interest in your personal injury recovery. That way the hospital has reassurances that it’ll be paid once your case resolves. This buys you time and reduces the stress of having to deal with pushy medical providers who are looking to get paid.
- Personal injury loans: There are businesses out there that loan money to victims of car accidents to help them get by until they obtain a recovery from their claim. These lawsuit loans can help you cover your rent or mortgage, your utilities, and your groceries. Just be aware that these loans are going to a carry an interest rate, so you’ll end up paying back more than you borrowed. Also, be cognizant of the fact that there’s no guarantee that you’ll recovery compensation from your personal injury claim, so taking out a loan could be risky in that regard.
- Other forms of credit: Some car accident victims end up having to turn to their credit cards to cover their bills while they wait for their case to resolve. Although it may be unavoidable, we urge caution here because credit cards can carry such high interest rates. If you do use a credit card, be sure to track your expenses so that you can properly request reimbursement through your personal injury claim.
- Family and friends: We know that a lot of people don’t like to ask for financial help from family and friends. But depending on your circumstances, this might be your best or even your only option. To put everyone’s mind at ease, it may be best to write up an agreement that specifies how much was borrowed and how it’ll be repaid.
Do you need guidance navigating your claim?
Dealing with the nuances of a legal claim can be difficult to say the least, especially when you’re struggling to figure out how to make ends meet. But you can have an ally in your corner who can advise and guide you throughout the process. We find that this lifts a burden from car accident victims’ shoulders and leaves them feeling confident that their voice will be heard, and their financial interests will be protected.
If you’d like to learn more about what an attorney can do to help position your personal injury case for success, then we encourage you to continue to research those firms that seem right for you and your set of circumstances.