It’s hard to get by in the aftermath of a serious car or truck accident. After all, bills can quickly rack up as you find yourself unable to work. This can leave you in a precarious financial position, fearful of what the future might hold.
While a personal injury lawsuit may lead to the recovery of compensation that you need to reestablish your financial security and pay for your recovery, the process can take some time. That’s why many people like you find themselves wondering what they can do to pay their bills while they wait for their personal injury claim to play out. Fortunately, there are ways for you to bridge the gap.
- Asking your medical provider to defer collection: If you’ve accumulated medical expenses, then one option may be to simply speak with your provider to see if it’s willing to withhold collection of debt until your case resolves, whether that be through settlement or litigation. The hospital is probably going to want assurances that you’re going to pay your debt when the time comes, though, which is why they may ask you to sign some sort of agreement or letter of promise.
- Working out a medical lien: In some instances, a lien may be appropriate. Here, your healthcare provider essentially secures an interest in your personal injury recovery so that they can take legal action to recover the debt that is owed in the event that you don’t pay it. This is just one way for medical providers to protect themselves while giving you payment flexibility.
- Utilize your health insurance: Your insurance policy may cover a significant amount of your medical expenses, but remember that your insurance company is going to want to be reimbursed for its expenses out of your personal injury award. Also, there’s a cap on the amount that your insurance company is willing to pay for your treatment, so if you go beyond that cap then you may have to pay out of pocket for the remainder of your expenses or turn to a medical lien or a letter of promise for assistance.
- Turning to your car insurance: Depending on the type of policy that you have, you may be able to utilize your car insurance to help pay for some of your other expenses, such as transportation costs. Don’t overlook this, as these seemingly minor expenses can quickly add up.
- Obtaining a lawsuit loan: Another way to cover the expenses associated with your accident is to seek out a lawsuit loan. These loans are meant to give you a quick infusion of cash that can help you bridge the gap until you’re able to recover from your personal injury case. While these loans can be beneficial, they can be risky, too. To start, there’s no guarantee that you’ll recover compensation from your personal injury claim, which means that you could be on the hook for repaying that loan out of your own pocket. Additionally, these loans come with fees and interest rates attached, which means that you could end up paying more for the loan than you anticipated.
Find help navigating your challenging circumstances
Figuring out how to pay for everything while you’re trying to focus on your recovery and pursue a personal injury claim can be stressful, to say the least. So, consider letting a competent legal professional help. He or she can not only assist you in building your personal injury claim, but he or she can also help you navigate how to pay your bills so that you’re secure while you wait for your case to play out. If you’d like to learn more about that, then now may be the time to contact an experienced attorney of your choosing.