Are you stressed trying to figure out how you’re going to meet ends meet following a devastating car or truck accident? If so, then you’re probably scrambling to try to find a way to pay your medical bills, keep a roof over your head, and put food on the table. Although you may take comfort knowing that a personal injury lawsuit might provide you with some relief, your claim can take a significant amount of time to play out. In the meantime, what are you to do to meet your immediate financial needs?
Finding stability while your claim is pending
Fortunately, you have some options here. Let’s look at some of them:
- Rely on insurance: In the aftermath of an accident, you’re going to turn to your insurance company and the insurance company of the other driver for assistance. By doing so, you may be able to get many of your medical expenses covered. Some policies even provide coverage for alternative transportation, such as a rental car. So, make sure that you understand the breadth of your policy and how to use it to the fullest extent possible.
- Consider a hospital lien: Even when your insurance kicks in to help cover your medical expenses, you can still be left with extensive out-of-pocket costs. This is especially true if you’ve suffered catastrophic injuries that are so expensive to treat that they quickly blow past your policy limits. In these situations, you can talk to your health care provider to negotiate a lien. This means that the hospital agrees not to collect owed debt immediately in exchange for taking an interest in the outcome of your lawsuit. That way, as soon as your case resolves, you can pay the hospital what is owed. This provides you with some breathing room while you wait for your case to play out.
- Take out a lawsuit loan: There are companies out there that will give you a loan as you wait for your case to resolve. This loan can help cover everyday expenses, such as paying your utilities and buying groceries, which can be a huge help. But be cautious as you determine whether one of these loans is best for you. These loans oftentimes carry significant interest rates that can quickly rack up fees, and there’s no guarantee that you’ll win your case to be able to easily pay the loan back. Therefore, it might be best to discuss this type of loan with your attorney before moving forward with it.
- Ask family for help: We know it can be hard to ask for help, but your family is here to support you. That help may or may not be in financial terms. Either way, though, you might be able to secure the assistance you need simply by asking for it. If this involves someone lending you money, then think about commemorating it in writing so that everyone is comfortable with how and when the money will be repaid.
Once stable, fight for what you deserve
While you’re securing the stability that you need, your legal team can go to work on your behalf, fighting for the compensation that you deserve. This can lift a burden from your shoulders, thereby giving you the time and energy you need to focus on your recovery. Hopefully with a skilled advocate by your side you can obtain a favorable outcome that sets you on a path to a successful future where you make as full of a recovery as possible.
