Involved in a Lyft Accident? Here Is How To Secure Funds Whilst Your Case Is Determined

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When you make a personal injury claim it is in order to cover the costs of your medical bills and any potential loss of income. What often poses a challenge for people however is funding their life as they are waiting for the case to be concluded. Now if you have been involved in an accident with a ride sharing company such as Lyft, and you need funds whilst the case is determined, there are a couple of options which you can look into. After speaking to a Washington Lyft accident attorney, here is what we have learned about securing some financial help.

Speaking With Lyft

Whilst Lyft do have a team in place to talk care of its customers which have been involved in an accident, it is important to mention that they have no funding options available. The company and their insurance team will payout any compensation if they lose the case, but in the mean-time there are no financial services which the company is able to offer you.

Pre-Settlement Loan

The best option which you can explore here is a pre-settlement loan, which is designed for clients who are waiting on the outcome of their case. Now whilst this is called a loan, the details of not can be different from the likes of a personal loan. The main reason for this is that if you lose the case, you will not have to pay back the loan amount. For this reason the company which offers this kind of loan will review the details of your case before they decide to give you the money. A pre-settlement loan will still charge interest that is compounded, and when you win the case the money will be paid back directly from the courts.

Personal Loan

If, for whatever reason, you are not able to get a pre-settlement loan then you could look at the more traditional option of a personal loan. If this is the case then be very careful as there is absolutely no guarantee that you are going to win your case. Take out a small loan which gives you just enough to cover your costs, and make sure that you only use it for what is necessary. Pay attention to the total amount to repay, and ensure that you have a plan B if you end up losing the case. Unlike a pre-settlement loan, this money does have to be paid back, win or lose.

Friends and Family

And finally it may be worth speaking to your close friends and family members to find out if they are able to help you financially. This is not something that anyone wants to do of course, but it is at times like this when we should be able to lean on those around us and look for support.

Ultimately you should be looking to explore every financial avenue in order to get the help and support that you need during this tough time.