If you’ve found your way to our blog, then you’re probably thinking about taking legal action after being injured in a car accident. While a personal injury lawsuit can help offset your medical expenses, rehabilitation costs, lost wages, and pain and suffering, it might take a bit of time for your claim to play out. But if you’re like a lot of car accident victims, you need financial relief now. So, how are you going to make ends meet as you wait for the legal process to run its course?
That’s a good question, and one that you need to answer. After all, if you run out of resources to pay your expenses during your recovery, then you’ll be even more tempted to take a settlement that very well may not be in your best interests. So, let’s look at some options you have for covering your bills while you wait for your personal injury case to play out.
How to cover your expenses while your lawsuit is pending
There’s no one right way to address your expenses. Below are some options that you’ll want to think about utilizing to secure relief until you can recover compensation from your accident claim:
- Your insurance policy: Your insurance policy might include medical payments coverage. This provision allows you to recoup several thousands of dollars, oftentimes upwards of $10,000, for reasonable medical expenses. While this won’t cover all your damages, it’s a good starting point. So, be sure to thoroughly review your coverage to see if this is something you can take advantage of.
- Hospital lien: If you’ve eaten through your savings and simply don’t have enough to pay hospital bills when they come due, consider discussing a hospital lien with your medical provider. Here, the hospital essentially agrees not to collect medical debt from you until your personal injury claim resolves if you promise to pay the hospital as soon as you recover compensation. This can give you some financial breathing room during your recovery.
- Family and friends: You might be hesitant to ask your loved ones for financial support, but your family and friends might be more willing to help than you expect. If you’re worried about how borrowing money will make you look to your loved ones, consider utilizing a written agreement so that everyone knows each other’s obligations and responsibilities. This can take some of the uncertainty and pressure out of the situation.
- Lawsuit loan: There are companies out there that will loan you money against your potential personal injury lawsuit recovery. This can give you a quick influx of cash in your time of need but be aware that these loans can carry high interest rates that make paying them back costly. Also, you’ll be responsible for paying back these loans even if your lawsuit is unsuccessful. So, if you’re going to go this route, be extra cautious.
Be ready to fight for what you deserve
Although struggling in the aftermath of your car accident can be incredibly stressful, you might find comfort in securing the support mentioned above and building a compelling personal injury case. By doing so, you can obtain financial relief and put your mind at ease knowing that you’ve built the best case possible under the circumstances.