Understanding Hawaii Car Accident Loans

Basics of Car Accident Loans

Car accident loans in Hawaii are a type of legal funding designed to assist victims of automobile accidents while they wait for their settlements. Having a Hawaii car accident loan can help alleviate financial stress caused by medical bills, lost wages, and other expenses that can arise after an accident. These loans are actually considered non-recourse, meaning that if a victim doesn’t win their case, they are not obliged to repay the loan.

Types of Car Accident Loans

There are various types of car accident loans available for victims in Hawaii, including:

• Pre-settlement funding: This is a form of legal funding provided to accident victims before a settlement is reached. The advance is based on the expected compensation from the case.
• Settlement loans: These loans are provided after a settlement has been reached but before the actual payment is received. It can bridge the gap between the resolution of the case and the disbursement of funds.
• Lawsuit loans: These loans are provided to accident victims for expenses unrelated to the accident, such as housing costs or other everyday needs. They are considered general-purpose loans that can be used at the victim’s discretion.