Delaware car accident loans
Our guide to Delaware car accident loans. You were searching for car accident cash advance in Delaware. And we can help you get all your questions answered. Just give us a call.
What are some law regarding car accidents in Delaware?
Statute of Limitations: In Delaware, there is a statute of limitations that sets a time limit for filing a personal injury lawsuit after a car accident. Generally, you have two years from the date of the accident to file a lawsuit seeking damages for personal injuries or property damage resulting from the collision.
Comparative Negligence: Delaware follows the doctrine of comparative negligence. This means that if you are partially at fault for the car accident, your compensation may be reduced proportionately to your degree of fault. If your fault is determined to be more than 50%, you may not be entitled to recover damages.
Mandatory Insurance Requirements: Delaware requires all drivers to carry minimum auto insurance coverage, including liability insurance, personal injury protection (PIP), and uninsured/underinsured motorist coverage. These insurance requirements help ensure that drivers can cover damages and injuries resulting from accidents they cause.
Reporting an Accident: Delaware law requires drivers involved in a car accident resulting in injury, death, or property damage exceeding $500 to immediately report the crash to law enforcement. If an officer does not investigate the accident, the involved parties must submit a written report within five days.
Seat Belt Laws: Delaware has mandatory seat belt laws. All occupants in the vehicle, both front and rear seats, must wear seat belts at all times.
Cell Phone Use and Texting: Delaware prohibits all drivers from using handheld electronic devices, including cell phones, for texting or making calls while driving. Hands-free devices are allowed.
Wrongful Death Claims: If a car accident results in a fatality, Delaware law permits certain family members to file a wrongful death claim against the at-fault party to seek compensation for their losses.
How does a car accident cash advance work in Delaware?
Yes, you can get an advance on your car accident lawsuit in Delaware through a process known as pre-settlement funding or lawsuit funding. Pre-settlement funding is a financial option where a lending company provides you with a cash advance against the potential future settlement or verdict of your car accident lawsuit.
Here’s how pre-settlement funding works:
Application: You apply for pre-settlement funding by providing details about your car accident lawsuit and your attorney’s contact information to the lending company.
Evaluation: The lending company reviews the details of your case, including liability and the potential value of your claim, to assess its merits and the likelihood of a successful settlement.
Approval: If the lending company believes your case qualifies for funding, you will receive approval for the advance.
Cash Advance: Once approved, you will receive a portion of the anticipated settlement amount as a cash advance. The amount is generally based on the estimated value of your case.
Repayment: The advance, plus any applicable fees and interest, is repaid to the lending company when your car accident lawsuit is settled or resolved successfully. If you do not win your case, you typically do not have to repay the advance.
Pre-settlement funding can be helpful for individuals facing financial difficulties after a car accident, as it provides them with immediate cash to cover medical bills, living expenses, and other financial obligations while their lawsuit is ongoing. However, it’s essential to consider the interest rates and fees associated with pre-settlement funding, as they can vary among lending companies.