Life as you know it can be turned upside down after a serious car accident. You might be left with mobility issues, extensive and ongoing pain, emotional and psychological trauma, and financial losses that leave you on unsteady footing. Compounded, these damages can leave you feeling overwhelmed and uncertain about the future.
The good news is that there are ways for you to alleviate your stress and make it a little bit easier to get through your recovery. One way to do so is to figure out how to pay for your accident-related expenses while you take legal action.
How can you make ends meet after a car accident?
A personal injury lawsuit can be a great way to recover your losses and offset any expenses that you’ve incurred as a result of your accident. But your case is going to take some time to play out. What are you to do in the meantime to make ends meet?
Fortunately, you have some options. This includes:
- Maximizing insurance coverage: Your insurance and the claim held by the driver who hit you might have provisions to help you cover some of your expenses. While this should include some of your medical costs, it might also extend to help you pay for other needs such as transportation expenses. So, be thorough in analyzing these policies so that you can get the most out of them.
- Seeking a hospital lien: Even if you have a good insurance policy, there’s a good chance that your needed medical care is going to be more expensive than what your insurance company is willing to pay. This could leave you with enormous out of pocket expenses. If you’re unable to pay your medical bills, then you can talk to your medical provider to see if they’re willing to forego collection of your medical debt until your case either resolves through negotiations or litigation. You’ll just have to make a written promise to them that you’ll pay them once you recover from your claim.
- Asking family and friends for support: A lot of people feel ashamed when they ask for help. But there’s nothing wrong with asking for assistance when you need it. This is especially true when you’re turning to your family and friends, since they’re bound to be willing to help you to a certain extent. If you’re worried about how borrowing money will affect your relationship with a family member or friend, then you can reduce your borrowing agreement to writing, which might provide all parties with a certain level of comfort.
- Thinking about taking out a litigation loan: A lawsuit loan is a loan provided by a business meant to help you cover your expenses until you obtain a recovery from your claim. Since these are meant to be short-term loans, they can carry high interest rates, though, which could put you at risk of paying off a lot in interest and fees. You’ll also want to remember that you’ll have to repay this loan regardless of how your lawsuit pans out. So, be extra careful before taking out one of these loans.
Set yourself on course to a successful accident recovery
Navigating your recovery in the aftermath of an accident can be stressful and scary. But don’t let the pressure of your situation paralyze you into inaction. Instead, think of the preparation process as being key to securing the outcome that you want. And you’re not alone as you figure out how to move through your personal injury case and your recovery. So, take comfort knowing that with some proactiveness and support on your side, you have a bright future ahead of you.