A good broker will be happy to assist you in obtaining the settlement loan you seek. You may rest-assured that your broker will do everything to assist you in obtaining that funding as quickly as possible! The benefit, of course, of using a broker’s services is that you will not be tied to just one single funding source.
However, to obtain that funding is soon as possible, it is necessary that you work very closely with your broker. To increase the speed at which you are able to obtain the lawsuit loan, it will be necessary for you to obtain certain documents that may be reviewed to assess both the strengths and weaknesses of your case and to make a determination as to what the settlement value of your case truly is.
If you’re fortunate enough to find brokers experienced in handling cases similar to the one that you present, this will greatly assist you in obtaining the best possible lawsuit loan. If you take care in your selection of a broker, it is possible that you’ll find a team of individuals who are experienced in handling many cases that are similar to the very case for which you’re seeking funding, and work with you to find the best possible funding source.
Individuals injured in auto accidents will find that their claims are classified as “auto accident” cases. Those who are injured in such accidents, particularly those who wish to increase the speed at which they are able to obtain a lawsuit loan, will find that it’s necessary to provide certain documents to the broker:
Police report: The police report will be an important component in assisting the broker in making a determination as to both who the responsible parties are and the manner in which the injury was actually sustained. Upon reviewing that police report, the broker will very likely be able to tell not only who the individuals were who were injured, but also the individuals who caused that injury. Additionally, the police report will identify information such as the insurance carrier, observations recorded at the scene, and any other documentation that may be appropriately contained in the police report. (Unfortunately, many police reports do not adequately identify the extent of injury sustained in such accidents. One should not be concerned regarding this matter, however. It is important to recall that police officers are not trained in the evaluation and diagnosis of injuries that may occur. In many instances, the police officers merely indicate that there were no injuries at the scene because neither blood nor broken bones were evident, and the individuals were able to exit the vehicles without assistance.).
Insurance information regarding adverse parties: In most cases, the individual who caused the injuries is referred to as an adverse party. To determine what party will be responsible for paying any judgment awarded, it will be necessary to clearly identify that adverse party.
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 Summary of Medical Expenses is a document that contains information such as the hospital/emergency room records, admission and discharge summaries, as well as any operative reports, and doctor’s reports. When you file a claim, it is very important for you to clearly identify the foregoing information. If you fail to do so, it is very likely that your claim will be severely compromised.
You must include information regarding insurance coverage that you have: To provide the lawsuit loan for which you submitted your request, it is imperative that the broker know about the insurance coverage you personally have. You may find that your case will not be funded if you fail to provide such information. Claimant’s often find that, at the end of their claim, a very unpleasant situation awaits them. Subrogation is a process that allows insurance carriers and other payers who have provided any funding whatsoever for injuries sustained to recoup monies paid. In such instances, it is necessary that those monies be repaid prior to obtaining any additional funds. If you wish to have a successful outcome regarding your lawsuit loan application, it is very important to clearly identify any insurance coverage that you personally have.
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.
Looking to find the best deal on lawsuit loans, then visit us to obtain the best advice on how a lawsuit loan will benefit you.
