Settlement Advance

Now that you have made the decision to take an advance on your Personal Injury Settlement the decisions about how to use it probably seem overwhelming.  In this day and age, any loss of income during recovering from an accident or injury can quickly turn into a stressful period of time as the bills mount and even daily necessities become difficult or impossible to manage.  Naturally, when you take an advance it is with the hope that you can get back on track and have peace of mind again.  Unfortunately, without a solid plan about how to tackle all the places the advance can be used to alleviate problems, confusion can take over and before you know it the advance has been spent and you are back in the same spot.  Here are some helpful tips to point you in the right direction and make the best use of the advance you have taken to restore peace of mind.

Medical Needs:

Many times there are critical medical expenses that insurances are slow to pay or coverage has limited you in receiving.  To get you back to optimal health it is important to get the medical care you need whether it is medication or treatments or home health care.  If you forgo this treatment, you may be facing problems well into your future.  Your settlement advance can help you with this and you should consider budgeting for these expenses first.


We all know that injuries from an accident may cause you to miss work or lose your income and one of the first things to cause worry is the loss of your house or apartment.  Your advance on your settlement can help to ease that burden by taking care of not only the rent or mortgage but also the insurance or unexpected repairs.  Foreclosure or eviction is a trauma that compounds the already difficult situation you face and you should plan to budget for this along with your medical needs.


Unfortunately, car payments still come due while you are injured.  Transportation for your future recovery or the travel to your treatments is imperative.  Too often we overlook transportation as a priority and arranging for rides or depending on others is not an optimal plan.  Planning for your car payments and insurance can prevent the disruption losing it can cause.


Your basic needs such as food, toiletries, and household products should be a consideration to budget with your settlement advance.  Lawsuits can take time and putting food on the table is a worry you should not have to face.  Help with your household basic needs can be such a relief while you recover.  It is the small things in your daily life that can help to reduce the already complicated and confusing situation created by an injury from an accident.

Hopefully these tips will maximize the use of your advance settlement and allow you the best chance of getting back to optimal health.  While it may be tempting to use the settlement for things you always thought you might need, it is so important to remember the important things that will help you to survive while you wait for the best outcome of your personal injury lawsuit.  With proper planning and careful consideration of your priorities the decision you have made to take a pre-settlement advance will serve to give you the peace of mind you hope for.