Will I Benefit From A Cash Advance?

When you decide to pursue a personal injury compensation claim it can be a daunting process. Even with the help of trained and experienced solicitors you can face a number of legal obstacles along the way that may slow the claims process and leave you struggling with your finances. This is particularly the case for those with more serious injuries who are facing a significant loss of income due to their accident.

However, if you choose to select a personal injury compensation solicitor who offers a cash advance then you could secure your finances in advance and make sure you are fully equipped to make your compensation claim. Not only that, but a cash advance can also help you pay for any previous medical expenses and other costs that are associated with your injuries, so you can avoid facing debt as a result of the negligence of others.

Will I Benefit From A Cash Advance?

Why Choose a Cash Advance?

Nowadays, many solicitors will offer a no win, no fee conditional fee agreement so victims of personal injuries can be sure they will not face any fees upfront. Under such an agreement, solicitors will cover all legal fees and court costs until you have received your compensation, so you can pursue your case safe in the knowledge that you will not be left out of pocket. Although this system is extremely beneficial for those struggling with their finances following an accident, it does not help those who are already facing financial difficulties.

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This is where a cash advance comes in; payable before the compensation is received by the claimants, a cash advance can cover any losses and costs that have been incurred since the accident and so helps resolve any financial problems before they develop. There are a number of costs that can be covered by a cash advance, including additional medical expenses, any travel costs to and from medical facilities, any property loss incurred, or any loss of income already incurred by the claimant. Not only that, but the cash advance can also compensate for the pain and suffering already caused by the injuries so victims can move on with their recovery safe in the knowledge that they have already received some of the compensation they deserve.

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Controlling a Cash Advance

Personal injury victims choosing to take advantage of an offer of a cash advance can control its distribution, so they can be sure they have the money as and when they need it. Many people chose to claim their entire cash advance in one lump sum to cover previous costs but some choose to distribute it over time. This is particularly useful for those who foresee a particular expense in the future and wish to ensure they have the funds already available to cover those costs. It is also useful for those who wish to save their compensation until the end of their court case, and therefore ensure that they can spend their sum on any one large expense rather than smaller costs.

Nikhil S