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Three ways to pay your bills after a car accident

On Behalf of | Apr 18, 2024 | Motor Vehicle Accidents

The injuries that you’ve suffered in your car accident may be extensive, leaving you with limited mobility, facing the need for ongoing care and treatment, and rendering it impossible for you to work to earn a wage.

All of that can leave you in a dire predicament. In additional to finding a way to cope with your pain and suffering and your newly imposed limitations, you’ll have to figure out how to get by on a day-to-day basis.

Unless you have extensive savings, this can be difficult to do. In fact, many car accident victims’ bank accounts are quickly drained in the aftermath of their wreck, leaving them uncertain of where to turn for help paying their bills. Although that can be a stressful position to be in, there are ways to find support as you navigate the complexities of your recovery.

How to pay your bills after a serious car accident

A successful personal injury claim might give you the long-term financial stability that you need to focus on your recovery and reclaim your normal life, but a car accident case can take some time to play out. In the meantime, you may want to consider pursuing the following options so that you have the financial resources you need to get by while your personal injury case plays out:

  • Talk to family and friends: Many accident victims turn to their network of family and friends for support. These individuals may be able to help you cut costs, such as by giving you a free place to stay during your recovery, and they may be willing to provide you with more direct financial support when you’re unable to pay for your basic needs. If you feel uncomfortable asking family and friends for help, consider creating borrowing agreements so that everyone knows their responsibilities and obligations when it comes to borrowing and paying back money.
  • Ask the hospital to give you a break: Your medical bills are going to quickly come due. If you don’t have the money to pay them but leave them unaddressed, then you could be subjected to collection efforts. You don’t want that. Be open and honest with your medical provider about your inability to immediately pay your bills. Once they know that you’re pursuing a legal claim, they may be willing to hold off on collecting owed debt until your lawsuit resolves, so long as you agree to pay them back quickly after you receive compensation from your case.
  • Take out a lawsuit loan: As a last resort, you can consider taking out a lawsuit loan. These loans are meant to bridge the gap between your accident and the resolution of your case, but they often carry high interest rates. And, you’ll have to pay back the loan and interest regardless of how your case plays out. In other words, taking out one of these loans can be risky.

Don’t lose out on what you need to get through your recovery

There’s a lot to think about in the aftermath of your car accident. In your haste to get through the legal process, you might be driven to resolve your claim as fast as you can. But you should be careful when it comes to navigating your case, as you don’t want to lose out on the compensation that you deserve even though you need money fast.

So, as you prepare to head into your personal injury case, think about what it is that you want out of your claim and diligently work to gather the evidence you need to be successful on your claim. Hopefully then you can secure financial stability, advocate for your needs, and secure the future you need to successfully recover from the harm that’s been caused to you.