The financial strain felt after a serious car accident can be severe. While you’re struggling to figure out how to pay your medical bills, you’ll also have to find a way to cover your rent or mortgage, your utilities, and your grocery bill. All of that can quickly become overwhelming at a time when you’re coping with the pain and suffering unfairly thrust upon you.
A successful personal injury lawsuit might help alleviate the financial strain, but your case might take a while to play out. Your bills won’t be put on pause, though, which is why you need to find a way to cover your bills while you wait for your case to resolve through negotiations or litigation.
But how do you cover your expenses while waiting out your personal injury claim?
Fortunately, you’ve got several options here. Let’s look at some of them:
- Turn to your own insurance policy: Although it’s not required, your policy might contain personal injury protection coverage. If so, then you might be able to recover compensation for your medical expenses and lost wages. Other provisions of your insurance policy could help you cover other losses, so this is a good first place to start looking for quick access to the resources you need.
- Utilize the errant driver’s insurance: The other driver’s insurance might also contain provisions to help you cover some of your immediate costs. So, make sure you scrutinize their policy to see where you can exploit it to your advantage.
- Defer your medical payments: Most healthcare providers understand that you might be unable to pay your care-related costs following a serious accident. Therefore, upon request, your medical provider might agree to hold off on collecting your medical debt so long as you agree to pay it off as soon as your personal injury lawsuit resolves. This agreement will be commemorated in writing so that you have to stick to it, but it’s a great way to give you some breathing room in your time of need.
- Ask friends and family for help: A lot of us don’t like to ask for help, even when we really need it. But your family and friends might be more understanding and willing to help than you expect. You can even make an agreement with your loved one indicating that you’ll pay back what you’ve borrowed if that seems like the best course of action.
- Consider a lawsuit loan: If you’re out of options, then you might want to turn to a lawsuit loan. The funds provided through this loan can help you cover any expenses that you might have, and they’re intended to only last until your case settles or otherwise resolves at trial. Keep in mind, though, that these loans can carry large interest rates, which means you’ll be paying back more than you borrowed. That might not be a big deal if you recover a significant amount of compensation from your claim, but there’s no guarantee that you’ll win your case. So, be careful here.
Build an aggressive personal injury case to protect your interests
Your financial stability and the effectiveness of your recovery depends on the outcome of your personal injury case. That’s why you need to leave no stone unturned in preparing your case. Be educated, aware, and aggressive heading into negotiations and litigation. By doing so, you might be able to secure the outcome you need to offset your losses and reclaim your future.