How Lawsuit Loans Are Useful In Tractor Trailer & Bus Accidents
Tractor-trailer and bus accidents are some of the most devastating ones and the damage is often too great. This can be hard to forget and move on. Tractor-trailer and bus accidents can incur huge expenses that would otherwise be a challenge to cover but, a lawsuit loan or pre-settlement loan can help with those.
These accidents can result in catastrophic injuries. Additionally, when they do happen, they are likely to drain the budgets of all parties involved. This means that getting some money before everything is over in court can really help make it through with everyday expenses.
For Tractor Trailer and Bus Drivers
The drivers of tractor-trailers and busses are often the most injured in these kinds of accidents, so of course, they want compensation for their suffering. However, we must consider the fact that on top of their injuries, the injured drivers are also forced to miss a lot of work hours and therefore, receive no payments.
This further complicates their lives. A pre-settlement or pre-payment loan can be the best way for them to keep their lives in order and avoid bills piling up while they wait for their settlement money.
Also to be considered here is that most tractor-trailer drivers own their own rigs and when it is damaged or destroyed, they not only lose their income because they cannot work, but they also need to replace their rig before being able to get to work.
Those are usually covered by insurance, but as that can take a while to come through, they will need advance money to replace the tractor and/or trailer. The average cost of a new tractor-trailer is between $140,000 and $175,000,. This is a huge amount of money that could get you a house in some parts of the country!
The idea of a regular loan may sound good, but before going that route, think about getting a pre-settlement loan. A loan against the expected settlement money or against the expected insurance pay-out often comes at lower risks and with greater chances of being approved.
For Victims Of Tractor Trailer Or Bus Accidents Who Weren’t The Driver
When it comes to other victims of tractor-trailer or bus accidents, there can be many of them at times. These victims can take their own claims up to their insurance companies and they can also go to court to get more substantial settlements.
Some victims may have just seen the accident and are traumatized by the event (a pain and suffering case) or their vehicle was hit by the tractor-trailer or bus (a more substantial case). If a bus was involved in an accident, all the passengers that were on it are potential victims too. These people will want to get their medical bills covered and their lost wages. In this case, people can team up and bring on a different kind of lawsuit, as described below.
That being said, if victims are alive, they will bring the charges and lawsuit themselves and will need the loan for their living expenses or medical bills. If they have died, their next of kin can file a lawsuit or deal with the insurance in order to get financial compensation.
Often the next of kins have difficulties covering burial and other related costs. These are not something anyone wants to think about, but once it happens, money is often the issue. A bit of help in the form of a loan against a lawsuit or insurance claim could mean a lot.
Potential For A Class Action Lawsuit
In the case of accidents where a tractor-trailer hit a few different vehicles, like in the case of a roll-over, or in the case of a passenger bus accident, the higher number of victims can to a class-action lawsuit.
These can take a while to get off the ground and they can take a while to proceed in court. That means that each of the members of the class-action suit can decide to do things a bit differently when it comes to their settlement, so they can also reach out separately to a lawsuit loan company to get a loan on their insurance or settlement payment.
Not all victims may need to get the payment in advance, so it’s important to look into these options separately. One person may have had more extensive injuries or more bills piled or they simply may have fewer savings to live on while they wait for the settlement money. That is why each person needs a different approach to their settlement and pre-settlement loans.
Like with any accident, a lawsuit following a tractor-trailer accident or a bus accident can lead to some pretty hefty payouts as well as large insurance payment. A pre-settlement loan is a great way to manage the expenses accumulated following the accident such as medical costs and everyday bills.
If dismemberment or death happened, the settlement can be a lot larger and so can the loan. These issues can be taken up to a lawyer to examine the details of a specific case and getting this started early should help get payment as soon as possible. Getting this kind of loan is easier when the accident has a clear-cut responsible party as a payout is almost guaranteed.
Where Can One Get A Pre-Settlement Loan For Your Tractor Trailer Or Bus Accident?
There are many places to get a pre-settlement loan following an accident. For a tractor-trailer or bus accident, a great place to start is