If you’ve been in a car accident and are planning on taking legal action to seek compensation for your losses, you could be dealing with a lawsuit for months or longer. There are a number of factors that impact how long a car accident lawsuit takes to settle. As time passes, you may start to find yourself running into problems financially. If that’s the case, you could benefit from applying for legal funding through Preferred Capital Funding.
Understanding the Car Accident Lawsuit Process
Part of understanding why car accident lawsuits take a long time to settle involves understanding the lawsuit process. Your lawyer will guide you through the steps of the process, but you’ll benefit from knowing what to expect next.
The first step involves the plaintiff filing a complaint. This is where you will state your reasoning for seeking compensation from the driver you believe caused your accident. Once the complaint is filed, the defendant needs to be informed that legal action is being taken against them.
Once the defendant answers the complaint, the discovery can start. During the discovery, each side requests and exchanges information that can serve as evidence at the trial. Depending on the case, discovery can take a few months or up to a year.
Once the discovery phase is complete, the trial can begin. Car accident trials typically on take a few days to a few weeks. Once the judge or jury decides on the verdict, either side has the ability to file an appeal if they disagree with the decision. This can draw a case out for months or longer.
Factors Impacting the Length of a Car Accident Lawsuit
While the lawsuit process itself takes time, there are a number of other factors that can draw a case out. Some of those factors include issues with determining and proving liability, the extent of the injuries, the quality and quantity of evidence, how the insurance company responds to an initial claim, the amount of compensation a person is looking to receive, and the lawyer experience with car accident lawsuits.
If you run into legal problems or your doctor is uncertain as to when you will reach your maximum medical improvement, it’s likely your car accident lawsuit will take longer—which could result in a number of problems.
Problems Plaintiffs Experience With Lengthy Lawsuits
When a car accident lawsuit takes months or even years to settle, there are a number of problems a plaintiff could experience—the most pressing one often revolving around financial troubles. As a lawsuit drags on, hospitals will likely be expecting medical bill payments and regular monthly payments like mortgages and car payments will not stop.
If a plaintiff is unable to pay their bills, they may consider withdrawing from the lawsuit. Not only will this result in more financial trouble, but they will render themselves ineligible for the compensation they rightfully deserve.
In addition to financial problems, plaintiffs are also likely to run into problems with maintaining their pre-existing lifestyle, keeping track of legal proceedings, and dealing with aggressive defense tactics the longer a lawsuit takes to finalize.
How Lawsuit Funding Can Help
If you’re struggling with your finances while dealing with a lengthy car accident lawsuit, lawsuit funding can help. There are a number of benefits to applying for and receiving a pre-settlement cash advance, including:
- Having the time you need to pursue a successful lawsuit.
- Being able to afford personal expenses like rent or mortgage, food, car payments, medical bills, etc.
- Potentially receiving nonrecourse funding, meaning if you lose your case you do not have to pay us back. It’s important to note that non-recourse funding is not available in all states.
When you apply for lawsuit funding, the process is different than when you apply for a traditional bank loan. We won’t need to look at your credit history, employment information, and financial history to determine your eligibility. We’ll only take into consideration how strong your case is and whether your lawyer is willing to work with us.
If you have questions about the process of applying and receiving funds through Preferred Capital Funding, contact us today. If you’re ready to submit an application for a cash advance, you can apply online. A lawsuit funding specialist will review your application and determine if you are eligible for funding.
Once you have access to the funds you need, you’ll be able to focus on ensuring you receive a fair verdict so you can put the car accident behind you and focus on a brighter future.