When you find yourself needing emergency medical attention, your future medical bills are generally the last thing on your mind. What if you seriously injured in a motor vehicle accident? Are you financially stable enough to pay your own medical bills out of pocket? According to a new study, approximately 530,000 families go bankrupt every year because they are not able to pay their medical debt. Accidents are something that you just cannot prevent or foresee, and when they happen, they can ruin your credit score and your financial footing.
An accident will not only affect your physical and financial health, but it will often damage your vehicle and other personal property, as well. Depending on the intensity of your accident, your vehicle may have been totaled, leaving you without transportation, and perhaps without the means to get to work. In the end, you may see yourself drowning in a pit of debt.
There are some ways of sparing yourself from this kind of situation that are far better than going bankrupt. Your personal injury lawyer can help you determine which of the following options is best for you.
Measures to Protect You From Bankruptcy
The following measures that may be able to keep you from filing bankruptcy after being injured due to someone else’s negligence:
- Medical insurance: This is generally the best way to keep yourself from huge amounts of medical debt after your car accident. You could save yourself and your family as well by getting insured.
- Hire an experienced attorney and file a claim: sometimes it is better to let the professionals handle complicated legal issues so that you can focus your physical recovery. If your insurance company is not paying your medical bills or not covering your medical expenses on time, then an experienced attorney can help you fight for the compensation to which you are entitled.
- Get pre-settlement financing: With the help of pre-settlement financing, you can cover your medical expenses and other non-medical expenses like your utility bills, vehicle repairs, and more.
Ask Us About Pre-Settlement Financing Today
If you are not sure if pre-settlement financing is the best option for you, contact Capital Financing today. We will advise you of your options and give you the opportunity to focus on your recovery instead of having to struggle with your finances.