If a personal injury lawyer just helped you earn a settlement in a car accident case, you’re likely anxiously waiting for it so that you can pay off your accident-related medical bills. Unfortunately, it may take a month, if not longer, for your settlement check to show up in your mailbox. What are you supposed to do until then?
You won’t usually collect compensation in a car accident case — or any personal injury case involving tort law, for that matter — right away. How can you pay your medical bills while you wait? You might have more options than you realize. Below are a few to consider.
Borrow Money From Family Members or Friends
Generally speaking, borrowing money from family members or friends is rarely a good idea. If you’re unable to repay them for any reason, it could ruin your relationship for good.
However, this might be one of the few times when borrowing money from family members or friends makes sense. As long as you and your family members or friends have a clear understanding of when you’ll receive your settlement and repay them, this is an option worth considering when paying medical bills.
Check with your personal injury lawyer to see whether they can estimate when your settlement should arrive.
Take Out a Small Personal Loan
If you don’t feel comfortable borrowing money from family members or friends, how about taking out a small personal loan instead? Americans currently have more than $350 billion worth of debt tied to personal loans, with at least some of this money used to pay down medical bills.
If your credit score is high enough, you can apply for a personal loan and be approved within a day or two. Just make sure you put a plan in place to repay this personal loan as soon as your settlement check finally shows up.
Look Into Using a Medical Lien
Unfortunately, not all hospitals and other medical providers offer medical liens. But some do, and if you’re being treated by one, a medical lien can come in handy for those waiting on settlement checks following car accident cases.
A medical lien is a legal contract between a healthcare provider and a patient. It states that a provider will extend medical treatment to you now in exchange for a portion of the settlement you’re set to receive in a legal case.
Medical liens are commonly used by those involved in personal injury cases. Your personal injury lawyer may be able to provide additional information.
Consider Applying for Lawsuit Funding
Lawsuit funding companies have started to appear throughout the country. They offer post-settlement funding so you can cover medical bills and other costs as you wait for a settlement check from your lawsuit to arrive.
By giving you this funding, a lender will take an agreed-upon percentage of your settlement. If you decide to go in this direction, search for a lender that won’t take too much of your settlement when it eventually materializes.
Call Us To Talk to a Personal Injury Lawyer About Your Accident Case
You might wonder about more than just how you’ll cover your medical bills while waiting for a settlement in a personal injury case. An experienced personal injury lawyer from Stewart & Stewart Attorneys can address other concerns you may have throughout your lawsuit.
We can also handle determining liability and proving negligence in many different types of personal injury cases, including car accident cases, dog bites cases, medical malpractice cases, and more. Contact us at (317) 537-9616 to find out about the damages you can recover in your case.