If you’ve been injured and someone else is at fault, you may be able to file and win a personal injury lawsuit.

Unfortunately, this is not as simple as it sounds. The first step is a consultation with an attorney who practices this type of law. He or she will review your situation and determine if you have a viable case. If you do, you can hire the lawyer to represent you throughout the ensuing process. Among other things, he or she will gather all of the evidence that must be presented in court. To win the case and get a judgment against the responsible party, there must be enough proof of the following:

  • Someone else caused the accident
  • They did so by engaging in careless or reckless behavior; and
  • The injuries you sustained stemmed from the accident in question.

The whole process — from the time you first consult an attorney to the time you secure a judgment for financial compensation at trial — can take months or even years. If you are unable to work because of your injuries, this can put you — and your family — under considerable financial strain.

In reality, however, very few personal injury cases relative to the number that are filed ever go to trial. Instead, most of these matters are resolved through a negotiated settlement between your lawyer and the responsible party’s insurance company. Since insurance companies are notorious for dragging their feet, even reaching a settlement can take months.

Receiving a settlement can help you get back on track after an accident by covering medical bills, lost wages, and any other charges you may have incurred. However, routine expenses and medical bills while waiting for a possible settlement can add up, especially if you are unable to work due to your injuries. Fortunately, there are many financial companies that offer pre-settlement funding that can help you cover those types of routine personal expenses while waiting for your settlement.

How do accident loans work?

First, the term accident loans can be misleading. In actuality, the help you are seeking is pre-settlement funding, which in some cases, depending on where you live, does come in the form of a loan. In those instances, the loan is similar to any other loan, which can be paid from any source and is not secured by your legal claim.  However, in most states, you are selling or assigning a portion of the pending proceeds from your legal claim in exchange for a purchase amount, which is different than a loan.

The process of getting an accident loan or pre-settlement funding is fairly simple. There are only two basic requirements. First, you must be an accident victim with a pending legal claim. Second, you must be represented by an attorney.  If you meet these requirements, you can fill out an application on a funding company’s website. You should be prepared to provide information about yourself, the accident, your injuries, and your lawyer.

The funding provider will then look into the details of your case and speak with your attorney, to determine whether you qualify and how much funding you can get. Ideally, the funding company’s review will conclude that you have a strong case with substantial value and a good probability of a successful outcome.

This is because the funding company assumes significant risk if it agrees to provide funding based on your potential judgment or settlement in your case. After all, there is no guarantee of success. There is always a chance you may lose at trial, your attorney may not be able to negotiate a settlement for the expected case value, or the judgment may not be enough to cover all the liens, expenses and other trial costs. Lawsuit funding companies mitigate this risk by accepting only the strongest applications for approval. Additionally, a good funding company will make sure the plaintiff is getting a fair portion of their award/settlement.

Once you’ve been approved, they will transfer the money to you via a wire, check or other disbursement method. Then, you can use the money to pay for any relevant expenses, such as medical bills, your rent, mortgage, utilities, groceries, car payments and so on. The only thing you can’t use the funds for is to pay for your legal costs and expenses.  Once your case is settled, you will repay the funding company along with any charges.  If you received a pre-settlement funding as a purchase agreement, you would repay your funding directly from your settlement.  Those receiving a lawsuit loan can repay their loan from any source, but most consumers decide to similarly repay their loan directly from their settlement.


Have you been involved in a car accident and need help with pre-settlement funding? Oasis is here to help!

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Am I responsible for repayment if I lose my case?

Most pre-settlement or lawsuit funding is advertised as “non-recourse” lending. Technically this means you are not responsible for repayment if you lose your case. But before you accept pre-settlement funding, you must sign a contract, typically called a funding agreement. This contract specifies what happens if you lose your case or get a settlement or judgment for less than the potential case value. This agreement will also specify what happens if there is not enough money in your settlement or judgment to repay the funding company.

Depending on the language, the funding company may only be able to claim the remaining amount after the deduction of attorney fees, medical lien repayments and other applicable deductions. As with any agreement, you should make sure you understand its terms.

When should I consider filing a lawsuit over an accident?

There are a number of instances in which you may want to consider filing a personal injury lawsuit. These include but are not limited to:

  • Vehicle accidents. The term “vehicle accidents” or “motor vehicle accidents” is an umbrella term used for practical and statistical purposes. It includes motorcycle accidents, accidents involving motor vehicles and even pedestrian accidents. Collectively, these account for the most common types of personal injury cases filed in United States courts. The reason is simple: they often result in serious injuries. If you were seriously injured in a motor vehicle accident that wasn’t your fault, you may be able to pursue a bodily injury settlement in addition to an insurance payout. In this instance, the lawsuit would cover medical care as well as property damage from the incident.
  • Injuries on property accessible to the public. If you were injured as a result of poorly maintained public property, you may have a case for a lawsuit. This is also true if you were injured in a retail store, restaurant, or any other private property that is licensed for public use. Some common instances of this are slipping and falling on poorly maintained stairs or floors, or injuries resulting from ceiling collapses.

These are the two most common reasons to file an injury lawsuit, but there are many other cases which may qualify. If you have been injured in any way at the hands of another party, it’s worth talking to a lawyer to get their perspective on the situation. You might be surprised by how much legal power you have as the injured party. If another person’s negligence caused the accident in which you were hurt, you have a legal right to compensation for financial, physical and emotional losses associated with your injury.

If needed, pre-settlement funding is one way to help cover your medical costs and any other financial challenges that come up in the short term as you deal with the fallout from the injury and wait for your settlement.

Is pre-settlement funding safe?

For years, critics have claimed that the lawsuit funding industry is a predatory endeavor. Specifically, they have asserted that funding companies have taken advantage of vulnerable people by charging exorbitant charges, interest or fees. They have also called for government intervention and regulation of the industry, arguing that the industry has been unable to police this conduct.

Some states have established licensing, disclosure and other requirements based on recommendations and support from reputable funding companies to promote accountability and honest business practices, through trade groups like the Alliance for Responsible Consumer Legal Funding. Oasis is proud to be one of the leaders in this effort. In recognition for our hard work, we have received superior ratings from both Trustpilot and the Better Business Bureau.

Most importantly, we have helped thousands of accident victims get the financial relief they need while awaiting the financial compensation they deserve.


Have you been involved in a car accident and need help with pre-settlement funding? Oasis is here to help!

Apply Now

Car Accident Loans & Settlement FAQs

Here’s what you need to know about the car accident loan or funding process.

How much do car accident settlement loans or fundings cost?

Taking out a loan or other type of pre settlement funding while you wait on your settlement can be a smart financial move, especially if you’re struggling to keep up with bills. Funding costs can vary drastically, but when you partner with Oasis, you’re only required to pay back funds if you win your legal claim or receive a settlement.

Are car accident loans or fundings regulated?

Consumer loans are generally subject to state regulation. Accident settlement funding is also regulated in a growing number of states.  Trusted organizations like Oasis have campaigned for stricter regulations to protect customers from predatory funding practices, and many states have heeded the call.

Who is eligible for an auto accident loan or pre-settlement funding?

Your eligibility depends on the circumstances of your accident. All funding companies weigh the likelihood of a victory in the courtroom to determine the level of risk involved, which may influence the cost of the funding.

When do car accident loans or pre-settlement fundings make sense?

Pre-settlement loans or fundings after auto accidents aren’t suitable for everybody. Generally, we recommend that you assess your current financial situation to determine whether it makes sense to apply for a car accident settlement loan or funding. For example, if you’re unable to work because of your injuries and benefits aren’t covering your bills, a loan or funding in anticipation of a car accident settlement could make sense.

Contact us today to learn how Oasis Financial can help. We’re ready to guide you every step of the way!

Oasis provides pre-settlement funding, also known as consumer litigation funding, to its customers through different products depending on their state of residence or cause of action. Many consumers will be provided pre-settlement funding in the form of a purchase agreement, which assigns a portion of the pending proceeds from their legal claim. Other consumers, such as those in SC and CO will be offered a funding in the form of a pre-settlement loan, sometimes referred to as a lawsuit loan. These transactions have important differences, therefore, consumers should carefully review and be aware of the type of transaction that is offered to them by any funding company.