Maine Pedestrian Accident Loans

What Are Pedestrian Accident Loans in Maine

If you’ve been injured as a pedestrian by a motor vehicle in Maine, you’re likely dealing with a lot of stress. Medical bills, lost income, and daily living expenses can pile up. This is where pedestrian accident loans come into play.

Pedestrian accident loans, also commonly known as car accident loans, are non-recourse advances made to plaintiffs – like yourself – who are awaiting the resolution of a car accident lawsuit. These loans provide financial relief to plaintiffs struggling with unexpected expenses while their case is being settled.

The term “loan” might be misleading, as this funding is not your typical loan. It’s a form of pre-settlement funding or legal finance. Unlike standard loans, if you don’t win your case, you owe nothing back – hence the term “non-recourse”. In essence, these funds are an advance on your future settlement award.

Every case is unique, so the amount of funding you could receive depends on the expected value of your case. If approved for a pedestrian accident loan, the fund can assist in covering your basic needs while you wait for your case to resolve.

Key Information About Car Accident Loans in Maine

If you’re dealing with a car accident claim in Maine, it’s important to understand that getting financial support while waiting for your lawsuit to resolve is possible. LawsuitLoans.io can provide you with a car accident loan, which is a type of lawsuit advance designed specifically for plaintiffs in auto incident claims. It’s a way of accessing funds based on the potential settlement you may receive from your personal injury claim. Now, let’s dive deep into some key details pertaining to car accident loans in this state.

Am I Eligible for a Pedestrian Accident Loan in Maine?

To apply for a pedestrian accident loan in Maine, there are certain eligibility criteria you must meet. First and foremost, you need to have a valid legal claim. This means you are pursuing legal action against an insurance company or a self-insured company because they are responsible for your accident.

Secondly, you need to have hired an attorney on a contingency basis. A contingency fee agreement implies your attorney only gets paid if they win your case. This agreement is a standard practice in personal injury cases, including pedestrian accidents. It assures the lawsuit loans company that someone is fighting for your cause.

Thirdly, you must be at least 18 years old. This age requirement is standard in most legal transactions because it signifies you are an adult and can make informed decisions independently.

If you meet these requirements, you might be eligible for a pedestrian accident lawsuit loan. Visit LawsuitLoans.io’s funding application to submit your application today. Need assistance? Call us toll-free at (800) 340-4973.

Types of Pedestrian Accident Claims in Maine

A pedestrian accident involves any incident where a person on foot is hit by a moving vehicle. While these incidents are often detrimental to the pedestrian, Maine law helps to ensure they aren’t powerless in the aftermath. Let’s consider a few typical examples of pedestrian accidents and discuss how Maine’s fault laws may impact the outcome of the plaintiff’s lawsuit.

First and foremost, there’s the classic case of a car failing to stop at a crosswalk, striking a pedestrian who has the right-of-way. In such a situation, the driver of the vehicle is typically held responsible for damages. Similarly, not just motor vehicles, bicycles can also cause accidents by failing to follow road rules. Bicycle-related accidents are becoming increasing common in urban areas.

Secondly, accidents caused by distracted or impaired drivers pose a significant problem. Whether it’s due to alcohol, drugs, or smartphone use, these drivers put pedestrians at high risk. Should a victim decide to sue, the driver’s negligence would heavily influence the lawsuit outcomes.

Maine operates under a “modified comparative negligence” system. This means that as long as the pedestrian was less than 50% at fault for the accident, they can collect damages from the other party. However, their award will reduce if they were found to bear some responsibility for the accident.

Regardless of the specific circumstances, LawsuitLoans.io remains committed to providing pre-settlement funds to plaintiffs with personal injuries resulting from pedestrian accidents. These funds help carry victims through the legal process, ensuring they receive fair compensation for their injuries.

How Much Money Can I Get From my Pedestrian Accident Pre-settlement Loan?

LawsuitLoans.io offers lawsuit loans ranging between $500 and over $1,000,000. If your legal case is still in progress, we can advance up to 25% of your expected share from the settlement. On the other hand, for concluded cases, we can provide you with 50% of your likely part of the settlement.

Here’s an instance for clarity: Consider you are a plaintiff in Maine with a pedestrian accident case estimated to be worth $300,000. And, let’s assume your case is yet to settle and will take some time. Generally, medical service providers receive approximately 1/3 of the settlement amount, leaving the attorney with another 1/3 of the settlement. This typically leaves the plaintiff with the last 1/3 of the settlement, in this scenario, around $100,000. We at LawsuitLoans.io, can then advance roughly 25% of that $100,000 – equating to about $25,000.