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If you’re an individual recently injured in an auto accident, you may be wondering with your case qualifies for a lawsuit loan. If you have been involved in an auto accident, we would ask that you carefully read this article to find out ways in which you can greatly increase your chances of obtaining the loan you seek.

One of the keys to increasing your chances of obtaining a lawsuit loan, is finding a good broker. If you do find a good broker, you may be confident in knowing that that broker will do everything in his power to assist you in obtaining your funding as quickly as possible! The benefit of course in using a broker over going directly to a lender, is the fact that with a broker, you will not be limited to one source of funding, as you would be if you went directly with a lender.

If you intend to obtain that funding as quickly as possible, it will be necessary to you for you to work very closely with your broker. If you work closely with your broker in obtaining the necessary documents that may be reviewed to assess both strengths and weaknesses of your case, this will greatly increase the speed at which the determination may be made as to whether your case is appropriate for funding.

Some brokers have a great deal of experience in handling the very type of case that you will submit in an effort to obtain a lawsuit loan. If you’re careful in your selection of your broker, you may find a team that cannot be matched anywhere with respect to both experience and knowledge in handling such cases, as well as an ability to locate the best possible source of funding for your case.

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 from adverse parties: “Adverse party” merely refers to the individual in most cases who is at fault for causing the injury sustained. In most cases, it is necessary to clearly identify the party at fault to assist in determining what party will be responsible for paying any judgment awarded.

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.

Your insurance coverage: To be able to provide funding for your lawsuit loan, it is necessary for the broker to know what insurance coverage is available to you (e.g., health insurance, UM/UIM and, med-pay, P IP, etc.). Failure to disclose the information may also compromise your claim. In many cases, through a process called subrogation, insurance carriers may come back and demand repayment of any money paid to you during the course of litigation. Therefore, prior to lending money to the claimant, it is necessary to know what other sources of funding both have been provided and are available to that individual.

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.

If you want to increase the speed at which your lawsuit loan is provided, work very closely with your broker! Many brokers are going to allow you to submit the documents to them without further expense to you by providing a toll-free number. In most cases, requested documents may easily be submitted to the broker via either facsimile or e-mail.

Learn more about lawsuit loans. Stop by Dr. Tom Rhudy’s site where you can find out all about the benefits of obtaining a lawsuit loan and what it can do for you.

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