New Mexico Bike Accident Loans
- Get Cash as Soon as the Same Business Day
- Rates as Low as 2.5% Simple, Monthly
- Repay $0 if You Lose Your Case
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What Are Bicycle Accident Lawsuit Loans in New Mexico
If you’ve been involved in a bicycle accident in New Mexico, a lawsuit loan could help cover your living expenses while you wait for your case to conclude. But what exactly are bicycle accident lawsuit loans? Simply put, it’s an advance on the potential settlement of your legal case. This is designed to help meet your immediate needs until your settlement arrives.
A key aspect of these types of lawsuit loans is that they’re non-recourse. This means if you lose your case, you won’t have to repay the loan. The purpose of a bicycle accident lawsuit loan is to reduce the financial stress during the process of reaching a settlement. It might be used for medical bills, rent, groceries, or other household expenses.
Bicycle accident loans are not like typical loans, as they are entirely contingent upon the outcome of your legal case. If you win your case and receive a settlement, the loan will be repaid out of this amount. However, should you not win your claim, there’s no obligation to pay back the advance, eliminating the financial risk often associated with borrowing.
How Lawsuit Loans Work
Here’s how the lawsuit loan process works in three easy steps. The entire process can be completed within 24 hours with your attorney’s help.
Apply Online or Call Toll-Free
Apply online or call us toll-free at (866) 594-1343. Submitting your application takes minutes.
We Review Your Case
Next, we contact your law firm and collect basic information to review your case. Review only takes a few hours.
You Receive Funds
You and your attorney review and sign our funding contract. Once complete, you can have funds within hours.
Key Information About Car Accident Loans in New Mexico
If you’re involved in a car accident in New Mexico, you may be eligible for a lawsuit loan. This pre-settlement funding option provides plaintiffs with the financial resources they need while they await the resolution of their legal case.
| Average car accident loan amount by LawsuitLoans.io in New Mexico | Not enough data available |
| Largest car accident loan by LawsuitLoans.io in New Mexico | Not enough data available |
| Average interest rate in New Mexico | Not enough data available |
| Median personal injury verdict in New Mexico | $31,000.00 |
| New Mexico statute of limitations | 3 Years; N.M. Stat. Ann. § 37-1-1 |
| New Mexico fault laws | New Mexico is an “at-fault” or “tort” state, meaning the driver found to be responsible for the accident is liable for damages. |
Get an Instant Quote
Input your requested funding amount and the time your case may take to settle here to see your potential savings and costs when you choose LawsuitLoans.io. While we sometimes offer rates as low as 2.5%, our calculator assumes a simple, non-compounding monthly rate of 3.3%. This calculator is for illustrative purposes only. Actual terms may differ. Please contact us for an instant, written quote for your request.
Advance Amount:
Months Until Settlement:
$2,900
Total Cost
Pay $2,900 on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
$1,697
Your Savings
Save $1,428 compared to competitors on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
33%
Percent Savings
Save 33% on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Get up to $500,000 With Rates as Low as 2.5% Simple, Monthly
Am I Eligible for a Bicycle Accident Loan in New Mexico?
The primary criteria for applying for a bicycle accident lawsuit loan in New Mexico include a few important factors. Firstly, the applicant should have a valid legal claim against either an insurance company or a self insured entity. This essentially means that the applicant needs to demonstrate they have incurred harm or damage due to negligence of another party and they are awaiting settlement or judgment.
Another key factor is hiring legal representation. The applicant must have an attorney who is working their case on a contingency basis. In other words, this attorney doesn’t get paid unless they win the case or secure a settlement.
The final basic eligibility criterion is age. The applicant should be at least 18 years old to apply for a pre-settlement funding. This is a common requirement found in most financial transactions to ensure the legality and responsibility of the agreement.
If you meet these criteria, you may well be eligible for a bicycle accident lawsuit loan in New Mexico. To know more or to clarify your eligibility, it’s best to apply through our site or call us on our toll free number (800) 340-4973 where our staff can assist further.
Types of Bike Accident Claims in New Mexico
When it comes to bike accidents, some occur more frequently than others. Understanding these types and their causes can help you assess the nature of your bike accident claim in New Mexico.
One common type of bike accident is the “right hook”. This happens when a car makes a right turn without noticing a cyclist coming from behind on the right side. The cyclist usually has no chance to avoid the collision.
The “door prize” is another type of bike accident. It involves a car door being opened into a cyclist’s path. Since most cyclists ride close to parked cars to stay out of moving traffic, they may have little time to react when a door suddenly opens.
An additional common bike accident involves left turns, called the “left cross”. In this situation, a car turning left collides with a cyclist going straight in the opposite direction.
New Mexico has specific laws that could impact your chance of success in a lawsuit following a bike accident. Known as “fault laws”, they determine who is responsible for an accident. Sometimes, both parties share the blame. This concept of shared fault is called “comparative negligence”. Under New Mexico law, your compensation may be reduced by your percentage of fault for the accident.
Remember, every case is unique. To better understand your chances in a lawsuit after a bike accident, consider reaching out to a local attorney or a pre-settlement funding company like LawsuitLoans.io.
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Apply today and get funds in as little as 24 hours!
How Much Money Can I Get From my Bike Accident Pre-settlement Loan?
Lawsuit loans from LawsuitLoans.io can range from $500 – $1,000,000+. We can advance up to a maximum of 25% of your expected portion of the settlement if your case is still in progress. For settled cases, we can offer 50% of your expected portion of the settlement.
Let’s consider an example. Suppose you are a plaintiff in New Mexico involved in a bike accident case with an estimated value of $750,000. The case is still progressing and will not settle for some time. As a general rule of thumb, medical providers get paid around 1/3 of the settlement, and the attorney also gets another 1/3 of the settlement. As a result, you, as the plaintiff, would receive around $250,000. In such a case, we, at LawsuitLoans.io, can advance approximately 25% of that amount or $52,500.
Roadway Accident Cases we Fund in New Mexico
At LawsuitLoans.io, we fund almost any type of roadway accident in New Mexico. Here’s a short list of specific cases you may be dealing with:
- Bicycle Accident Loans: Funding for cases involving bicycle accidents in New Mexico.
- Car Accident Loans: We offer funding to assist you if you’ve been injured in a car accident.
- Commercial Vehicle Accident Loans: Financial support for cases involving commercial vehicles.
- Government Vehicle Accident Loans: If your case is against a government vehicle, we can help.
- Motorcycle Accident Loans: Funding for individuals grappling with the aftermath of motorcycle accidents.
- Pedestrian Accident Loans: We provide loans to pedestrian accident victims.
- Rideshare Accident Loans: Support for victims in accidents involving rideshare services.
- Semi-Truck Accident Loans: Financial assistance for those involved in semi-truck accidents.
Get $500 – $500,000 in as Little as a Single Business Day!
We understand that if you’re applying for funding with us, you needed the funding yesterday. With your attorney’s cooperation, we can provide funding as soon as the same business day.
Cities we Service in New Mexico
LawsuitLoans.io provides funding throughout New Mexico. See more about our funding in New Mexico by visiting the city pages below:
Other Cases we Fund in New Mexico
LawsuitLoans.io provides funding for various personal injury and roadway accident cases in New Mexico. Read more about the personal injury cases we fund in New Mexico here:
- Personal Injury Loans
- Police Misconduct Lawsuit Loans
- Medical Malpractice Lawsuit Loans
- Slip and Fall Lawsuit Loans
- Premises Liability Loans
- Dog Bite Lawsuit Loans
- Wrongful Death Loans
Read more about the roadway accident claims we fund in New Mexico here:
Get up to $500,000 With Rates as Low as 2.5% Simple, Monthly
Does LawsuitLoans.io Directly Fund Cases in New Mexico?
While LawsuitLoans.io operates as a direct funder in most states it services, we act as a broker and originate funding requests to a select group of partner funding companies in New Mexico.