Wisdom when it comes time to settle
Posted Tuesday, November 30, 2010 by Ed Harper
Following a car crash, many individuals become strapped for cash because they are out of work. They may decide to pay for items such as food, health care deductibles, etc. with a credit card, with the idea the at-fault driver’s insurance will immediately pick up the tab for these expenses. However, it is common for expenses to be incurred for an extended period without acquiring full compensation from the insurance carrier for the at-fault driver until much later.
Another method utilized to acquire quick funds after a serious motor vehicle collision is to obtain an advance payment from a settlement company which will charge you a very high interest rate. Many companies will lend you money for your “needs” in exchange for your agreement to pay them back with interest as high as 40 – 50%. This is a horrible idea and should not be relied upon by an injured person.
By selling your bodily injury claim, or part of it, you have lost the ability to make a good decision because you will be forced to litigate, possibly winding up in trial, because you require a higher amount to reimburse the settlement advance company. Do not get sold on the idea of receiving a little money now, because this choice will haunt you in the end.
The Bible says “…the borrower is a servant of the lender.” Proverbs 22:7
When you have been injured, through no fault of your own, you need compassionate counsel. Learn your legal rights and get compassionate counsel from an attorney you can trust – at Harper Law. We will answer your questions quickly and easily, without any attorney fees. If we can assist you in acquiring a fair settlement, we will do so. No attorney fees will be charged to you until the resolution of your case.
We Are Here to Help
Although our office does not handle all types of cases, we hope you will contact us regarding any legal issues you may encounter. We will answer your questions, or refer you to another quality and trustworthy attorney if we are unable to assist you.
