North Carolina is densely populated and urbanized, with almost ten million people living in the state. The state has many different industries, including agriculture, manufacturing, and tourism. There will be accidents with so many people and so many various industries. In 2017, there were 275,067 crashes on North Carolina roadways.
If you’ve been injured in an accident and are considering filing a lawsuit, you may be wondering how you will pay for it.
Lawsuits can be expensive, and the costs can add up quickly. That’s where a lawsuit loan comes in. A lawsuit loan is a short-term loan that allows you to borrow money against the potential winnings of your case.
Here are the benefits of getting a North Carolina lawsuit loan.
You Can Use a Lawsuit Loan to Pay Your Legal Fees
North Carolina General Statute § 1-52(16) requires that personal injury lawsuits be brought within three years of the action happening. Hence, the court may not hear if you wait too long to bring your lawsuit. But if you have the money to pay for a lawyer upfront, you can get started on your case right away.
A lawsuit loan can also help you pay for other expenses related to your cases, such as medical bills or lost wages. So if you’re worried about how you’ll pay your bills while your case is pending, a lawsuit loan can provide you with the financial security you need.
You can find a service that offers lawsuit loans in North Carolina by searching online. Many companies provide this type of financing, so compare rates and terms before choosing one.
A Lawsuit Loan Can Help You Cover Your Living Expenses
When you are injured at the workplace, on roadways, or due to the negligence of another, you may be unable to travel to work and earn an income. It can put a substantial financial burden on you and your family. A lawsuit loan can help you cover your living expenses while waiting for your case to settle.
Some expenses that can be covered include:
- Your mortgage or rent payments
- Your utility bills
- Your car payments
- Your insurance premiums
- Groceries, and other necessary household items
The Approval Process is Quick and Easy
The best part about lawsuit loans is that the approval process is quick and easy. You can get approval for a loan in as little as 24 hours. In addition, the process is 100% online so that you can apply from the comfort of your home.
It is best to read customer reviews and testimonials before selecting a loan service. Then, select a reputable company with competitive interest rates and fees.
You Have to Repay Only if You Win
If you lose the case, you don’t have to repay the North Carolina lawsuit loan. That’s one of the great things about lawsuit loans; they are non-recourse. So, you won’t owe anything if you don’t win or settle your case.
It helps to level the concerns and give you some financial breathing room while your case works through the legal system.
If you are considering a lawsuit loan, whether in North Carolina or any other state, it’s crucial to understand how they work and your options. In addition, it is essential to apply from a licensed and reputable source to protect yourself and your case.