When a person is injured in an accident, it can also mean pain in the pocketbook.  Injuries may prevent you from working, and even if you are receiving benefits from your employer or your own insurance company, it may not be enough to cover all your regular bills, not to mention any additional medical or housekeeping costs you are facing.  The defendant’s insurance company is empowered by law to make advance payments to injured plaintiffs, but in practice, this rarely happens.  Faced with mounting bills and dwindling funds, many injured plaintiffs look for short-term financing as a solution.  There are many companies that will gladly lend money to a person who is involved in a lawsuit and is expecting to receive a settlement.  The problem is that these companies charge interest rates far beyond what a bank would charge because they know that banks won’t make these types of loans.  An injured person who borrows $2000 from a settlement lender could end up owing more than twice that in just 2 years.  The best Personal Injury Lawyers encourage injured plaintiffs to exhaust every possible avenue for financing before going to a settlement lender, whether through a bank line of credit, mortgage refinancing, or borrowing from friends and family.

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