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Making Ends Meet While Your Case is Pending

Posted on: August 7, 2017

case is pending

A pending insurance or compensation case can leave you in a bad position financially. If you have medical costs to pay or are left out of work, waiting for a case to conclude may not seem like an attractive option.

Regardless of how you decide to proceed, you will still have the same financial costs to contend with in the end. While it may be tempting to settle early in order to receive a payment sooner, doing so will only delay your financial hardship.

If you have any savings or investments, you may need to rely on those assets to tide you over while a case is pending. If friends or family are able to offer financial aid, that is another option worth exploring.

There are other ways to get through the immediate financial hardships resulting from an accident, so you should explore those options first before agreeing to a settlement. There are two main approaches you can take, which will buy you time while your case is pending.

Medical Liens

Medical liens are a means of receiving treatment when you cannot afford the out of pocket costs. You can speak to your doctor about continuing to receive treatment until you are able to honor the costs. The payment is then made once your compensation claim is completed.

Your health insurance may also cover you for medical liens, which the insurer can claim back from any amount awarded in a compensation claim. Speak to your policy provider and see if this option is available to you.

Lawsuit Settlement Loan

A lawsuit settlement loan is calculated based on the likely amount you will receive from a compensation claim. The loan amount may cover some or all of your medical costs while your case is pending. However, it is important to compare loans to make sure that you get the best deal.

As with any loan, lawsuit settlement loans include interest rates. This is usually considered a high- risk loan, so interest rates are likely to be high. We do not recommend taking out a lawsuit settlement loan unless you have no alternative means of paying your bills.

Expert Legal Representation

Most importantly, ensure that you seek expert legal representation. Although insurance and compensation claims generally take time, the right lawyer can get you a fair result in the shortest amount of time. You will want a lawyer who has strong knowledge in the area of law that covers deals with your accident and injuries.

It is important that your lawyer is able to skillfully negotiate on your behalf, ensuring you are awarded the maximum amount of compensation. While your case is pending it is also crucial that you continue to attend medical treatments and keep a record of any associated costs.

Edwards & Patterson can provide you with expert advice and representation in your case. Call our offices today if you have been in an accident in Tulsa and need the best legal representation in Oklahoma. We will fight to win you the compensation you deserve, in the shortest time possible.

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  • Contact Edwards & Patterson Law Firm today for a free consultation.
  • Contact Edwards & Patterson Law Firm today for a free consultation.
  • Contact Edwards & Patterson Law Firm today for a free consultation.
  • Contact Edwards & Patterson Law Firm today for a free consultation.
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EDWARDS & PATTERSON LAW

321 S. 3rd Street | McAlester, OK 74501

918-302-3700

321 S. 3rd Street McAlester OK 74501

918-302-3700

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EDWARDS & PATTERSON LAW

1831 East 71st Street | Tulsa, OK 74136

877-761-5059

1831 East 71st Street Tulsa OK 74136

877-761-5059

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