Car accidents are a leading cause of personal injury in Gainesville, FL. If you have suffered due to such an accident, waiting for the litigation to complete, and receiving the settlement amount can be a time-consuming and painstaking process. A lawsuit loan in Gainesville, FL can help you manage your existing expenses while you wait for the settlement money.
The steps to obtaining an auto accident lawsuit loan in Gainesville, FL
Getting a pre-settlement loan in Gainesville, FL is a fairly straightforward process. A lawsuit loan is not a financial loan in the conventional sense. It is a non-recourse loan. What this means is that if a settlement is not received later on, the borrower does not have to repay the loan to the lender. Gainesville legal funding companies may not require collateral and may not even perform a credit check.
Applying for a lawsuit cash advance usually involves the following simple steps:
- Inform your attorney about your plan to obtain a settlement loan, share all the details with them, and enlist their support
- Visit the website of the legal funding company and complete their online loan application or talk to them on the phone for assistance
- The lawsuit funding company will review your application and documents to approve the loan
- Once the loan is approved, a DocuSign agreement will have to be signed by you and your attorney
- The loan provider will then transfer the money directly to your bank account or send it by overnight check
State laws regarding lawsuit loans in Florida
Florida has a bill pending that seeks to impose certain regulations on loans on pending lawsuit settlements within the state. This bill would enable the Florida Department of State to ensure more extensive regulation of the industry. Case laws in the state have upheld agreements on lawsuit loans where there was no direction or interference from the lender about the litigation.
The Florida Bar allows lawyers to honor the allocation of proceeds for the client from the case to the lawsuit loan organization. In addition, it does not allow lawyers to provide a letter of protection to the organization. Many lawsuit loan organizations offer services to Floridians, and several of them use alternate acknowledgment letters that are compliant with the Florida Bar’s stance on lawsuit loans.
Causes of motor vehicle accidents in Gainesville, FL
Motor vehicle accidents are common in Gainesville, FL. Some of the leading causes of such accidents are as below:
- Texting while driving
- Not obeying traffic control signals or stop signs
- Driving while under the influence of drugs, or while drunk
- Inclement weather
- Falling asleep while driving
- Animals crossing the road
Statistics on auto accidents and injuries in Gainesville
Data for 2019 about auto accidents in Gainesville, FL shows a total of 19 fatal accidents that took place in the city during the year. The number of vehicles involved in fatal car crashes was 27, and the total number of people involved was 33. Pedestrians were found to be at high risk and 7 pedestrians lost their lives in these accidents. Three fatal accidents in Gainesville, FL during the year occurred because of drunk drivers.
Previous cases of motor vehicle accidents in Florida
In a recent motor vehicle accident case, the driver rear-ended the vehicle carelessly, which caused severe injuries to the victims standing nearby. The plaintiffs received a settlement of $1,100,000.
In another case, a 79-year-old widow suffered severe fractures and injuries after she was struck by a car at an intersection, while she was crossing the road. She received a settlement of $1,045,000.
The average time it takes to get a lawsuit loan in Gainesville, FL
As long as you are working with a reputable settlement loan provider, borrowing money from your lawsuit is fairly easy. The process usually takes anywhere from 24 to 48 hours. In relation to this, some factors may delay or expedite the process of loan approval.
Factors that delay getting the lawsuit loan
- Not providing complete documentation related to the case, especially information that provides evidence of the defendant’s fault
- Lack of timely consultation with the attorney or not involving them in the process as required by the lawsuit loan company
Factors that expedite getting the lawsuit loan
- Keeping your attorney informed about your loan application so that they can address the requirements of the legal funding company for your low-interest pre-settlement loan
- Providing all documents such as incident reports, medical reports related to injuries, and police reports
Dangerous roads and intersections in Gainesville, FL
Motor vehicle accidents commonly occur at intersections in Gainesville, FL. Some of the intersections and roads in Gainesville, FL where the likelihood of auto crashes is higher include:
- Northwest 34th Street and Northwest 39th Avenue
- Southwest 20th Avenue and Southwest 62nd Boulevard
- West University Avenue and Northwest 22nd Street
- Southwest 13th Street and Southwest Williston Road
- Southwest 16th Avenue and South 13th Street
Hospitals and medical centers in Gainesville, FL
If you have suffered an injury due to a motor vehicle accident, it is crucial to receive medical attention at the first opportunity. Major hospitals and medical centers in Gainesville, FL include:
- North Florida Regional Medical Center
- Select Specialty Hospital
- UF Heart Vascular and Heart Neuromedicine
- UF Health Shands Hospital
- Shands Hospital
The cost of healthcare in Florida
For any major medical insurance plan, Floridians can expect to pay a minimum of $467 per person per month. With that said, prices vary depending on age, tobacco usage, location, category of the insurance plan, and if the plan covers dependents.
Get money before settlement at competitive rates from Direct Legal Funding
Motor vehicle accidents are a major cause of injuries and fatalities in Gainesville, FL. If you or a family member has suffered such an injury, it can be extremely debilitating. The litigation process can take months and sometimes years until you receive the rightful settlement amount.
Many prosecutors will try to hurry the process, in the hopes that you may settle for a lower amount. With that said, the longer you stay resilient, the higher the chances of receiving a fair settlement.
With that said, while you wait for the settlement money to arrive, your existing medical bills and household expenses can quickly escalate. In times such as this, a lawsuit loan can be of great assistance, providing timely financial aid when you most need it. At Direct Legal Funding, we provide lawsuit loans with no credit checks and low-interest rates. You can get started on the application process today by completing our online form or calling us at 866-941-5588.