Any time someone is injured, it creates a situation that is difficult to deal with. Whether physical injuries are quite severe, or you have suffered emotional injuries that are going to dramatically alter your life, you deserve to be compensated as much as possible. Before you reach a settlement and receive compensation, how are you going to financially pay for all the expenses you’re incurring?
Personal Health Insurance
If you have personal health insurance, either through your employer or on your own, you can typically use it to pay for your medical costs while you wait for your case to settle. You should always inform your insurance company that you are waiting for a settlement, and the insurance company will probably put a lien on it.
When you enter a hold agreement with your medical provider, you are essentially promising payment as soon as you receive your settlement. In turn, the medical provider promises not to send your bills to debt collectors until an agreed-upon date after your case is settled. In many cases, when you’re in a hold agreement, the payment will come directly out of your settlement before you are able to see any of it.
There are some expensive drawbacks to a settlement loan, but if it’s your only option, it might be worth pursuing. A settlement loan is basically a lawsuit cash advance so you can make those medical payments while waiting for your settlement to be complete. As soon as you receive your settlement, paying off the loan should be one of the first payments you make because of the high interest rates typically associated with them. Keep in mind a settlement isn’t guaranteed, so you should be very careful about entering into this type of agreement.
Personal Auto Insurance
If your accident involves a motor vehicle, your auto insurance coverage might step in to pay for your medical expenses. You should speak with your insurer to find out what amount of coverage you have, as well as what costs you might be able to have paid through your auto insurance.
Contact a Lawyer
Paying for injuries before your personal injury case is complete can get stressful. In addition to medical bills, you might have lost wages and other expenses to worry about. Fortunately, with the help of a personal injury lawyer in Towson, MD, like from Seigel & Rouhana, LLC, you may have a better chance at a fair settlement. Contact a personal injury lawyer today to start your case.