Tennessee Commercial Vehicle Accident Loans

What Are Commercial Vehicle Accident Loans in Tennessee

Commercial vehicle accident loans, or car accident loans, are a type of financial support particularly meant for those involved in car accidents who are awaiting the settlement of their legal claims. These loans are an advance on the future compensation that a plaintiff is expected to receive from a car accident lawsuit.

One of the key attributes of car accident loans is their non-recourse nature. This characteristic implies that if the plaintiff doesn’t win their case and therefore doesn’t receive their expected compensation, they are under no obligation to pay back the loan. This risk-free feature is what primarily distinguishes these loans from regular ones.

In other words, a car accident loan provides plaintiffs with the needed financial buffer to manage their daily expenses while they await the arrival of their settlement money. It can be used to cover various expenses including medical bills, car repairs, mortgage payments, and living costs.

At LawsuitLoans.io, we specialize in providing these types of loans in Tennessee, ensuring that you are financially stable as your case awaits resolution. Feel free to reach us via our toll-free number (866) 594-1343 or apply for the funding through our website at LawsuitLoans.io funding application.

Key Information About Car Accident Loans in Tennessee

Car accident loans are prevalent in Tennessee owing to the number of accidents that occur. These loans help victims meet their financial demands while they await the result of their legal claims. Here’s some critical data about car accident loans in Tennessee:

Average car accident loan amount by LawsuitLoans.io in Tennessee	$10,329.10
Largest car accident loan by LawsuitLoans.io in Tennessee	$20,022.40
Average interest rate in Tennessee	17.5%
Median personal injury verdict in Tennessee	$31,000.00
Tennessee statute of limitations	1 Year; Tenn. Code Ann. Section 28-3-101
Tennessee fault laws	Tennessee is an “at-fault” or “tort” state, meaning the driver found to be responsible for the accident is liable for damages.

Am I Eligible for a Commercial Vehicle Accident Loan in Tennessee?

Many wonder what the eligibility criteria for obtaining car accident lawsuit loans are. The great news is the prerequisites may be simpler than expected. In every commercial vehicle accident claim, a high insurance policy or a self-insured entity is always involved. This fact simplifies the eligibility criteria.

So, what do you need to qualify? First and foremost, you must have an attorney working for you on a contingency basis. Secondly, you must be at least 18 years old. By meeting these two basic criteria, you can readily apply for a commercial vehicle accident loan in Tennessee via LawsuitLoans.io.

Commercial Vehicle Accident Loan Process in Tennessee

Have you been in a commercial vehicle accident and need funds while your case is pending? LawsuitLoans.io offers pre-settlement funding to help ease your financial burden. We ensure a simple yet structured approach in providing lawsuit loans. The process involves the following five-step.

1. Apply Online: The first step in obtaining a lawsuit loan is to apply online. Visit the LawsuitLoans.io funding application page to start your application.
2. We Contact Your Law Firm: After receiving your application, we’ll quickly contact your law firm for more details about your case.
3. We Review Your Case: Our team of experts will then review the details of your case to determine if you qualify for our funding service.
4. You Sign a Contract: If eligible, we’ll forward a contract for you and your attorney to sign. This contract includes all the terms and conditions of our service.
5. You Get Funds: Once the contract is signed and returned, we’ll transfer the funds directly into your account — it’s that simple!

To highlight how this plays out, let’s consider a plaintiff in Tennessee – John Doe. He was injured in an accident involving a commercial vehicle. Struggling with medical bills and unable to work, John applied for a lawsuit loan through LawsuitLoans.io. We got in touch with his law firm promptly, reviewed his case, and found him eligible. After he and his lawyer signed the contract, we transferred the much-needed funds straight into his account, aiding him during a rough period.

The ease of the process and promptness of our service allowed John to focus fully on his recovery and legal case, instead of being burdened with financial stress.

How Much Money Can I Get From my Commercial Vehicle 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 us give an example. Suppose a plaintiff in Tennessee was involved in a commercial vehicle accident. Let’s say the claim’s estimated value is $500,000. The case is still in progress and won’t settle for some time. Normally, medical providers receive around 1/3 of the settlement. The attorney gets another 1/3 of the settlement. This means the plaintiff would receive about $170,000. With our pre-settlement loan, we could advance approximately 25% of that amount, which equals $42,500.

What Types of Commercial Vehicles are Frequently Involved in Cases we Fund in Tennessee?

In Tennessee, various types of commercial vehicles ply the roads. Among these, some feature more often in the cases we fund. Yet, it’s important to remember: LawsuitLoans.io funds car accident claims involving any kind of vehicle, whether for private or commercial use.

Semi-Trucks

These large trucks are a common sight on Tennessee highways. Due to their size and weight, accidents involving semi-trucks can lead to serious injuries.

Delivery Vans

Delivery vans are another common commercial vehicle. Because they are often navigating busy city streets, accidents can occur, leading to lawsuits.

Taxis

Taxis, used throughout cities in Tennessee, can get involved in accidents due to heavy traffic and fast-paced city life.

Buses

We also see cases involving bus accidents. Whether it’s city buses, tour buses, or school buses, collisions involving these large vehicles can cause significant damage and injury.

Remember, at LawsuitLoans.io, it doesn’t matter what type of vehicle is involved in your accident case. What matters is you getting the legal funding you need as you await resolution of your claim. To apply, visit our funding application page today or call us toll-free at (866) 594-1343.

Major Cities we Serve in Tennessee

At LawsuitLoans.io, our pre-settlement funding services are accessible not only to all residents of Tennessee, but also nationwide. We aim to offer financial support to as many plaintiffs as possible while they await the resolution of their legal cases. To give you an idea, here are the top 10 cities by population in Tennessee that we serve:

1. Nashville
2. Memphis
3. Knoxville
4. Chattanooga
5. Clarksville
6. Murfreesboro
7. Franklin
8. Jackson
9. Johnson City
10. Bartlett

No matter where you reside in Tennessee or across the country, feel free to reach out to us. You can apply and receive funds through LawsuitLoans.io funding application or contact us via our toll-free number (866)594-1343.

Roadway Accident Cases we Fund in Tennessee

At LawsuitLoans.io, we lend financial support to almost any type of roadway accident case in Tennessee. This includes, but is not limited to:

• Bicycle Accident Loans: Funding for individuals involved in bicycle accidents while their legal case is resolved.
• Car Accident Loans: Loans for victims of car accidents seeking settlement payouts.
• Commercial Vehicle Accident Loans: Financial relief for plaintiffs in legal cases involving commercial vehicles.
• Semi Truck Accident Loans: Loans for those injured in semi-truck accidents who are pursuing legal claims.
• Government Vehicle Accident Loans: Funding for lawsuits involving government vehicles.
• Motorcycle Accident Loans: Pre-settlement loans for motorcycle accident victims.
• Pedestrian Accident Loans: Funding for legal cases involving pedestrian accidents.
• Rideshare Accident Loans: Loans for victims of accidents involving rideshare vehicles, such as Uber or Lyft.

Tennessee Commercial Vehicle Accident Funding FAQs

If you’re a Tennessee resident and have questions about commercial vehicle accident lawsuit loans, this section is for you. We’ve answered a few commonly asked questions below.

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

The cost depends on a number of factors. At LawsuitLoans.io, we strive to offer competitive rates. You won’t pay anything upfront and don’t repay the funds until your case is settled or won. If you don’t win, you don’t pay us back.

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

Qualifying for a lawsuit loan from LawsuitLoans.io generally depends on the merits of your case. Factors include the likelihood of a favorable verdict or settlement, the anticipated amount of that verdict or settlement, and other related factors. Every case is unique, but if you have a strong case, you likely qualify.

Can you get a loan on a commercial vehicle accident settlement?

Yes, you can. After a successful settlement in your commercial vehicle accident case, you may obtain a loan from LawsuitLoans.io. This is common when there are long delays in receiving settlement funds. However, remember, the use of the word “loan” is a bit misleading – it’s actually a cash advance against your pending settlement.

Does LawsuitLoans.io Directly Fund Cases in Tennessee?

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 Tennessee.