Legal Question in Personal Injury in Ohio
Waiting to settle--Cash Advance?
I was involved in an auto accident in Jan.04. The other driver was at fault and cited. I sustained an injury to my shoulder and I am still undergoing physical therapy. I have not been able to work and bills are adding up. I came across a company that offers cash advances to people waiting to settle a claim, and it is looking very appealing. The interest rate is fair, however, I feel like there must be a catch. Wouldn't my own attorney have suggested this knowing the situation I am in. Any fair advice would be greatly appreciated. Thank you.
3 Answers from Attorneys
Re: Waiting to settle--Cash Advance?
Don't do it.....Have you asked your lawyer about this?
How long have you been waiting and why hasn't your lawyer dealt with the creditors?
Call me directly if you like:
Joe Jacobs, Esq.
216-952-1990 / 216-227-0900
Re: Waiting to settle--Cash Advance?
A few of my clients have used these types of services and regretted it because of the hidden fees on top of of the interest. There are other options that don't require any fees. I will meet with you at no charge to discuss them. 330-225-1491 Paul
Re: Waiting to settle--Cash Advance?
Don't do it: you don't KNOW that you're going to get money any time soon. You don't KNOW you're going to get it until it's in your hands.
Second, these companies aren't in business to help you, regardless of your mounting bills, they're there to take advantage of your desperation. The interest rates and hidden charges, fees etc. could take more of your money than it's worth.
You can hold out against the bill collectors,--agree to have your attorney pay them directly from the settlement proceeds, if a total has already been identified. If it has not, and if they get too rambunctious, then file for bankrtupcy and let the bankruptcy court force them to wait: either way, they will have to wait.
Finally, if you can afford to pay bills, pay them if they are piling on late fees, or at least work something out with them so that they don't report it to the credit agencies.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
