Pre-Settlement Funding in Alabama
According to the National Highway Traffic Safety Administration, traffic crashes killed more people in the United States in 2021 than any year since 2005. According to NHTSA, 42,915 people died in motor vehicle traffic crashes in 2021, a 10.5% increase from the 38,824 fatalities in 2020 and preliminary data on 2022 estimates similar fatalities to 2021.
In Alabama a traffic crash was reported every 3 minutes and 55 seconds in 2020, resulting in over 133K traffic crashes in Alabama. Many of these accidents resulted in death, and many more resulted in injuries that the motorist will need medical assistance to recover from. Those injured motorists that were hurt through no fault of their own are entitled to recover damages.
What a plaintiff in a personal injury lawsuit often finds is that their case will drag out over months or even years and they may find themselves in financial distress because they are unable to work or pay medical bills or even cover basic living expenses.
Thankfully, in Alabama you can get the legal funding you need by contacting HMR to discuss how our pre-settlement funding program can help you pay for living expenses and other needs while your attorney is working to get you the justice you deserve.
What is Pre-Settlement Funding?
Pre-settlement funding, also known as a lawsuit loan, legal funding or a settlement advance, is an advance on your pending lawsuit settlement or award. Unlike traditional loans, the cash you receive will be based on the merits of your case, not your credit rating. Also, unlike a traditional loan, if your case is lost, you won’t have to pay back the pre-settlement advance you received from HMR.
How does Pre-Settlement Funding work in Alabama?
Applying for pre-settlement funding in Alabama is very simple and straightforward. Below are the simple steps:
- Fill out our online request form and provide the requested information
- Our team will reach out to your attorney to discuss your case in more detail
- We’ll make a decision within 24-48 hours based on the merits of your case
- You can receive your money quickly through direct deposit or check
How can a Pre-Settlement Funding help you?
Once you receive your pre-settlement cash advance, you can use it for anything you need such as:
- Paying for basic living expenses like monthly bills, housing and car payments
- Covering medical expenses and medicine
- Purchase groceries and gasoline
Ultimately, getting a pre-settlement advance can help your attorney have the time they need to get you the justice you deserve, without your worrying about making ends meet in the meantime.
Important Additional Information to know in Alabama
Fault Laws in Alabama
Each state has an auto insurance system that is either a “no-fault” or “fault” one. In most states, including Alabama, it is a “fault,” or tort system. In a tort state like Alabama, motorists who are found at fault for a collision may be held financially accountable for the medical bills and other losses they have caused.
Alabama’s fault laws are complicated and stricter than those of most other states, it is a pure contributory negligence state – meaning if you, the plaintiff, are found to be even 1% at fault, you cannot recover any damages.
Alabama Mandatory Liability Insurance Law
In Alabama, vehicle owners must have the following minimum amounts of liability auto insurance coverage:
- $25,000 liability coverage for bodily injury or death, per person injured or killed in an accident
- $50,000 liability coverage for total bodily injury or death liability in an accident
- $25,000 liability coverage for property damage per accident
Statute of Limitations in Alabama
Under Alabama laws, personal injury actions to recover damages must be filed within two (2) years from the date of the accident or injury.
Apply for Pre-Settlement Funding in Alabama Today
If you’ve been injured and are in need of financial assistance while your case is in motion, apply now for pre-settlement funding and our experienced team at HMR will contact you and your attorney to learn more about your case and how we can help you.