New York Pedestrian Accident Loans

What Are Pedestrian Accident Loans in New York

A pedestrian accident loan is a type of financial assistance available to plaintiffs who have been injured as pedestrians in car accidents. This is not actually a loan, but an advance on the potential settlement that the plaintiff may receive in their legal case.

These loans are designed to help plaintiffs cover their day-to-day expenses while they wait for their legal case to be resolved. The process is straightforward — once a plaintiff applies and gets approved for the loan, they receive the funds they need. They only have to repay the loan if they win or settle their case. If the legal claim is not successful, the plaintiff owes nothing. That’s why these loans are referred to as being “non-recourse”.

Pedestrian accident loans in New York work the same as in any other place. The deciding factor for loan approval is generally not the plaintiff’s income or credit score, but the strength of their legal claim. If it appears likely that they will receive a good settlement or a win, they are more likely to get approved for a pedestrian accident loan.

Key Information About Car Accident Loans in New York

If you’ve been in a car accident in New York, you may be eligible for a lawsuit loan. This is an advance on your potential settlement to help you with expenses while your lawsuit is pending. Here are some important details about car accident loans in New York:

Am I Eligible for a Pedestrian Accident Loan in New York?

There are some basic requirements you need to meet to be eligible for a pedestrian accident loan in New York. The foremost one is having a valid legal claim. If you are involved in a car accident and it was not your fault, then you can file a lawsuit against the insurance company of the person who caused the accident. Alternatively, if the party at fault is self-insured, then the lawsuit will be against them.

Beyond establishing a valid legal claim, you also need to have an attorney representing you on a contingency basis. This means that your attorney agrees to be paid from the proceeds of any settlement or court award you receive. If you don’t win your case, your attorney won’t be paid.

Finally, you must be at least 18 years old. This is the legal age to enter into a contract in most states, including New York. Therefore, even if you meet the other criteria, you won’t be eligible for a lawsuit loan if you’re under 18.

Pedestrian Accident Loan Process in New York

Obtaining a lawsuit loan following a pedestrian versus auto accident in New York is a straightforward process. Largely involving five main steps, this process can be a lifeline to plaintiffs who are waiting for the resolution of their legal case.

The first crucial step is to apply online through our LawsuitLoans.io funding application. This easy-to-use platform will guide you through a series of questions to ascertain the details of your case.

Next, LawsuitLoans.io will contact your law firm to gather more information about the proceedings. Crucially, we do not interfere with the way your law firm is handling your case. Our intention is only to gain a complete understanding of the claim’s merit.

After gathering all pertinent information, we review your case. Our team of legal experts assesses every element to determine if a lawsuit loan is right for you.

Congruent with acceptance for a loan, you will then sign a contract which clearly outlines the conditions and terms. The agreement will state the payback amount amongst other details.

The final step is perhaps the most satisfying—receipt of your funds. Once the contract is signed, funds are released directly into your bank account. This cash flow can be an invaluable help while awaiting the outcome of your legal case.

For example, consider plaintiff, John Doe. John was injured in a pedestrian collision and applied through LawsuitLoans.io. We contacted his law firm, assessed his case, and based on its strong merits, agreed to a lawsuit loan. After signing the contract, John received his funds and now has peace of mind, focusing on his recovery rather than financial pressures.

Types of Pedestrian Accident Claims in New York

In New York, common types of pedestrian accidents include incidences resulting from improper lane use, left-hand turn, distracted driving, drunk driving, and failure to yield the right of way. Understanding how these accidents occur can determine liability and affect a plaintiff’s chance of success in their lawsuit.

Improper Lane Use: This happens when a driver uses a specific lane incorrectly, such as driving in a bike lane or using the oncoming lane to overtake other vehicles unlawfully. If the driver hits a pedestrian while misusing a lane, they can be deemed negligent and held responsible for the accident.

Left-Hand Turn Accidents: In many cases, drivers neglect to notice pedestrians while making a left-hand turn due to the focus on other vehicles. As per New York’s laws, drivers are expected to yield the right of way to pedestrians. Thus, failure to do so generally results in the motorist being held accountable for any injuries caused.

Distracted Driving: If a driver is engaged in any activity distracting them from safe driving—such as texting, changing radio stations, or eating—they could cause an accident injuring a pedestrian. New York Law holds such drivers legally accountable for injuries sustained in such scenarios.

Drunk Driving: Drunk driving is unlawful and risky. Inebriated drivers pose a significant threat to pedestrians because of impaired judgment and slower reaction times. New York Laws are stringent against drunk driving, with significant penalties for drivers causing harm.

Failure to Yield: A good number of pedestrian accidents occur when drivers fail to yield the right of way at crosswalks or intersections. Pedestrians struck by vehicles in such instances have a higher likelihood of winning their case with evidence of a driver’s failure to yield.

It is important to note that New York operates under a ‘No-Fault’ insurance system. This means that, irrespective of who bears the fault for the accident, injury victims can recover compensation up to the policy limit from their own or the at-fault party’s insurance company.

In some instances, ‘shared fault rules’ may apply where both the pedestrian and the driver contributed to the accident. Courts can proportionally reduce the compensation awarded to pedestrians based on percentage of fault. Therefore, understanding fault laws in New York can significantly affect the outcome of a personal injury lawsuit.

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

Lawsuit loans from LawsuitLoans.io fall within the $500 to over $1,000,000 range. If your case is still unresolved, we can advance you a maximum of 25% of the potential winnings. For cases that are settled, you can receive up to 50% of your future payout.

To illustrate, let’s consider an example of a plaintiff from New York who has a pedestrian accident claim valued at around $300,000. The case is ongoing and will not settle for some time. Typically, the medical providers receive approximately a third of the settlement, another third goes to the attorney, leaving the plaintiff with a round figure of $100,000. In such case, LawsuitLoans.io could provide an advance of about 25% of that sum, which translates to an advance of $25,000.

Roadway Accident Cases we Fund in New York

We at LawsuitLoans.io fund nearly all types of roadway accidents in New York. The following types are those we most commonly handle:

• Bicycle Accident Loans – Funding for victims injured due to bicycle accidents while they’re awaiting their legal settlement.
• Car Accident Loans – Assistance for those involved in car accidents, providing pre-settlement funds for associated costs.
• Commercial Vehicle Accident Loans – Help for people impacted by accidents with commercial vehicles, offering funding as they wait for their lawsuit to resolve.
• Government Vehicle Accident Loans – Support for individuals affected by government vehicle incidents, furnishing necessary funds during the lawsuit period.
• Motorcycle Accident Loans – Financial aid for victims of motorcycle accidents, helping them manage expenses while their legal case is in progress.
• Pedestrian Accident Loans – Funds for pedestrians struck by a vehicle, aiding them financially during the course of their lawsuit.
• Rideshare Accident Loans – Provision of pre-settlement loans for individuals involved in rideshare incidents, buffering the financial impact while they await legal resolution.
• Semi-Truck Accident Loans – Providing victims of semi-truck crashes with necessary funding as they wait for their lawsuits to complete.

Major Cities we Serve in New York

At LawsuitLoans.io, we are committed to providing our services to residents across New York. We have a presence in the top 10 cities in New York by population, though our funding is not limited to these areas alone. LawsuitLoans.io serves residents all across New York and even nationwide.

• New York City
• Buffalo
• Rochester
• Yonkers
• Syracuse
• Albany
• New Rochelle
• Mount Vernon
• Schenectady
• Utica

The next time you find yourself in a legal battle and need funds while waiting for your case to resolve, feel free to contact us via our funding application. If you prefer to speak directly, you can reach us via our toll-free phone number at (866) 594-1343. Our services are available whether you’re in one of the above-listed cities or elsewhere in the country.

New York Pedestrian Accident Funding FAQs

When it comes to pedestrian accident funding in New York, several questions often arise. Let’s tackle some of the most frequently asked questions.

How much does it cost to get a pedestrian accident lawsuit loan?

The cost of a pedestrian accident lawsuit loan varies based on the specifics of your case and the expected settlement amount. It’s essential to speak with one of our representatives at LawsuitLoans.io for more precise information tailor-made to your circumstances.

Do I qualify for a lawsuit loan on my pedestrian accident case?

The qualifications for a lawsuit loan depend on multiple factors, including the details of your pedestrian accident case, your expected settlement amount, and the stage your case is in. Complete our LawsuitLoans.io funding application or give us a call at (866) 594-1343 to help assess your funding eligibility.

Can you get a loan on a pedestrian accident settlement?

Yes, at LawsuitLoans.io, we can offer funding against potential settlements in pedestrian accident cases. The loan amount depends on the expected settlement amount. Get in touch with us by phone or online application for a quick evaluation of your situation.