Guide
A serious bicycle accident can upend your life in an instant. If you’ve been injured by a careless driver, you may face a long physical recovery and a legal battle to secure compensation. Between medical appointments and dealing with insurance, the stress can be overwhelming. On top of that, everyday bills and new expenses pile up when you’re unable to work or earn income.
Pre-settlement funding provides a financial lifeline during this difficult time by letting you access a portion of your expected settlement now, rather than waiting months or years for your case to resolve. This support can cover critical needs like medical bills and living expenses, relieving financial pressure so you can focus on healing.
The Financial Challenges After a Bicycle Accident
Even a relatively minor bike crash can lead to serious injuries. Victims often face:
Medical expenses: Emergency care, surgeries, hospital stays, physical therapy, and medications can quickly amount to tens of thousands of dollars.
Bike repairs or replacement: Bicycles often get destroyed in collisions, leaving you with repair bills or the need for a new bicycle.
Lost income: If your injuries force you to miss work, your paycheck may shrink or stop entirely, making it harder to pay rent or other bills.
Ongoing living costs: Expenses like groceries, utilities, and childcare don’t pause when you’re recovering. They continue to accumulate, adding pressure when you’re already stretched thin.
All these costs come at a time when you should be focusing on healing. It’s not uncommon for a bicycle accident victim to burn through savings or take on debt just trying to stay afloat. Tip: Keep detailed records of all accident-related expenses. Having medical bills, repair estimates, and receipts organized will help demonstrate your financial need when applying for assistance, including pre-settlement funding.
What Is Pre-Settlement Funding?
Pre-settlement funding (also known as a lawsuit loan or legal funding) is not a traditional loan. It’s a cash advance against the future settlement or court award you expect to receive from your case. A funding company like Instabridge evaluates your bicycle accident claim and, if you qualify, advances you a portion of the potential settlement now. Here are the basics:
No-risk advance: Pre-settlement funding is typically non-recourse. You only repay it if you win or settle your case. If your case doesn’t succeed, you owe nothing back.
No monthly payments: Unlike a bank loan, there are no monthly installments. Repayment (plus the funding fee or interest) happens only after your case is resolved, coming out of the settlement proceeds.
Approval based on your case: Funding decisions are based on the strength of your case, not your credit score or income.
Fast access to cash: The application and approval process is quick. Many applicants receive funds within days of approval, which can be crucial when bills are due.
Transparent terms: Reputable providers like Instabridge offer clear terms upfront. Instabridge, for example, uses simple interest with no hidden fees, so you know exactly what you will repay from your settlement.
In short, pre-settlement funding lets you tap into your future settlement now, putting much-needed cash in your hands when you need it most.
How Pre-Settlement Funding Supports Your Recovery
A lawsuit cash advance can directly aid your physical and financial recovery:
Pay medical bills and therapy costs: Use the funds to cover hospital bills, surgery costs, medications, or rehab expenses. This ensures you can continue crucial treatment without interruption.
Cover daily expenses: Funding helps pay for rent or mortgage, utilities, groceries, and other essential costs while you’re out of work. Keeping up with these basics prevents you from falling behind or damaging your credit during the lawsuit.
Avoid high-interest debt: Instead of maxing out credit cards or taking personal loans (with monthly payments you can’t afford), a pre-settlement advance provides relief without that immediate repayment pressure.
Empower your legal fight: With your immediate needs met, you won’t be forced to accept a lowball settlement just because you’re short on cash. This gives your attorney time to build a strong case and push for the compensation you truly deserve. In this way, funding strengthens your negotiating position by removing the urge to settle too soon.
Tip: Use the advance for essential needs first. It’s tempting to splurge when a lump sum comes in, but prioritize crucial expenses like medical care, housing, and utilities. That ensures the funding truly supports your recovery and your case.
The Pre-Settlement Funding Process for Bicycle Accident Cases
Getting pre-settlement funding is straightforward:
Apply for funding: Fill out a simple application (online or by phone) with basic information about your accident, injuries, and your attorney’s contact details.
Case evaluation: The funding company talks to your attorney and reviews key documents (accident reports, medical records, etc.) to assess the strength of your claim.
Approval and offer: If your case is strong, the funder approves your request. You’ll then receive a funding offer stating how much can be advanced and the terms (interest rate or fees). Important: Review these terms with your attorney so you understand the repayment amount.
Receive your funds: Once you accept the offer and sign the agreement, the money is sent to you. Instabridge can often disburse funds within 24–48 hours of approval. You might receive the money via direct deposit or check, so you can immediately put it to use for medical bills, living expenses, or other needs.
Repayment from your settlement: While your lawyer continues pursuing the case, you have one less thing to worry about financially. When your case resolves successfully, the agreed repayment comes out of that amount. Your attorney will send the due portion to the funding company (the advance plus accrued fees/interest), and you keep the rest. If you don’t end up receiving any settlement money, you owe nothing back.
Throughout this process, the team at Instabridge is there to help at every step. They handle most interactions with your lawyer directly to save you time. Tip: Let your attorney know early if you plan to seek funding. They can help provide documents quickly and advise you on how an advance might affect your case strategy.
Conclusion
Recovering from a bicycle accident is hard enough without the strain of financial worries. Pre-settlement funding can be a valuable resource to keep you stable during a lawsuit – covering essential expenses and giving you peace of mind as you heal. Instead of watching bills pile up or feeling pressured to settle for less, this option lets you pursue justice at your own pace.
Instabridge is here to help injured cyclists stay afloat while they fight for fair compensation. With fast, risk-free pre-settlement funding, you don’t have to weather the legal process alone or drain your savings just to get by.
Ready to get started? Contact Instabridge today for a free consultation about pre-settlement funding for your bicycle accident case. Our team will answer your questions and work quickly to provide the financial relief you need. Don’t let money troubles derail your recovery – with Instabridge’s help, you can focus on healing while we handle the funding.
