Over the last decade, we have witnessed the rise of the so-called “sharing economy”. First, there were rideshare programs like Lyft and Uber.
Today, those ridesharing programs have all but entirely replaced the quintessential yellow taxi cabs that characterized much of the 20th century. Fresh on the heels of rideshare programs, we saw the rise of bike-sharing programs.
Users pay a monthly or distance-based fee for the ability to use company bicycles wherever they find them. Now, we have scooter-sharing programs and companies.
Scooter-sharing services work in much the same way as bike-sharing services.
What do all of these services have in common? They are all forms of transportation. And as forms of transportation, accidents can happen. Like bike accidents, scooter accidents aren’t typically as serious as most car accidents.
With that said, however, serious injuries do sometimes occur. Even the most careful scooter rider can get into a serious accident through no fault of their own.
If you get into a scooter accident that isn’t your fault, you can claim compensation from the responsible party. In some instances, you will have to file a lawsuit to do so.
Lawsuits can take a long time to settle, however. If you suffered serious injuries, you’re probably starting to see some of your medical bills pop up. Since you don’t know when your case will settle, how can you take care of those bills?
Luckily, to help with your finances now, you can take out a motor scooter lawsuit loan. Ally Lawsuit Loans offers motor scooter loans at a very competitive rate.
We help scooter riders injured in scooter accidents get the financial help they need so they can fight their case as long as necessary. If you’re interested in a motor scooter loan, keep reading for more information.
How Does Lawsuit Funding Work?
Lawsuit funding is a relatively new type of financing. Lawsuit loans work in a similar way as most other loans, but there is one important difference.
The difference lies in how lawsuit loans address the question of collateral. With most loans, if you default, your lender can seize any assets necessary to cover your debt.
That includes your house, car, stocks, and other investments. This type of loan is known as a recourse loan.
Conversely, lawsuit loans are a type of non-recourse loan. When you take out a non-recourse loan, you specify your collateral in the agreement.
That collateral is the only asset of yours that your lender can seize for repayment. When you take out a lawsuit loan, the collateral you put up is your eventual settlement or jury award.
Thus, your lender can seek repayment only after you settle or win your case.
What If I Don’t Win My Case?
The answer to this question is probably the biggest advantage that lawsuit loans have over other traditional loans. If you don’t win your case or you fail to settle your claim out of court, you don’t owe your lender anything. That’s right. No jury award or settlement? No repayment. Why? Because the collateral simply does not exist. This makes lawsuit loans as risk-free as possible.
Who Qualifies For Motor Scooter Loans From Ally?
If you want to take out a motor scooter lawsuit cash advance from Ally Lawsuit Loans, qualifying is a quick and easy process. Here are our general requirements:
- You must have retained the services of an attorney in a motor scooter accident claim and
- Your lawyer is representing you in an ongoing lawsuit.
To apply, all you have to do is fill out the application on our website. The only information we need is a little bit about your claim, your contact information, and your attorney’s contact information.
Then we contact your attorney to learn more about your specific situation. We verify the provided information, and we work with your attorney to figure out how winnable your case is and how much your claim is worth.
Finally, we use the provided information to determine whether we can finance your loan and how much you can borrow.
Should I Use a Scooter Loan Calculator?
You may have come across scooter loan settlement calculators. These calculators exist for any number of different types of civil claims.
The calculators promise to provide an accurate result, but the truth is, they can’t. The amount of damages you suffer generally determines how much your claim is worth. This includes both economic and non-economic damages.
Economic damages have an identifiable, quantifiable monetary value. Things like medical bills, lost wages, and property damage are all forms of economic damages.
A motor scooter accident calculator can help you calculate the value of your economic damages, but that’s about it.
But you can calculate the value of your economic damages using the calculator on your phone. You have the bills, so you have all of the necessary information.
Scooter settlement calculators cannot calculate the value of your non-economic damages, however. Non-economic damages are, by definition, intangible.
They lack a precise monetary value. Pain, suffering, the loss of a loved one, and the loss of the use of a limb are all forms of non-economic damages.
They are very real damages that you can suffer from, but a settlement calculator cannot monetize them because too many factors come into play. But personal injury attorneys know how to place a reasonable value on non-economic damages because they have experience in the area.
Talking to your attorney is the best way to figure out how much your claim is worth. Since you need to have an attorney before we can provide a lawsuit loan, we recommend discussing the value of your claim with your attorney as soon as possible.
The Ally Lawsuit Loans Difference
The pre-settlement funding industry is growing. Every week, more and more lawsuit lending services keep popping up. As a consumer, this gives you options.
Options are a good thing, but too many options can cause problems. Every lawsuit loan you shop for will have its own set of terms and conditions.
Not only does it take time to read through all of the options, but the language in the agreements is full of complicated legal jargon. To save yourself time and money, however, you can go with Ally Lawsuit Loans from the get-go.
At Ally Lawsuit Loans, we separate ourselves from the competition with our unique three-part guarantee:
- Lowest rates in the industry guaranteed,
- Review and respond to your application within 24 hours, and
- Never pay us back a single penny if you don’t win or settle your case.
With our rate guarantee, you can take time to focus on healing instead of poring over complicated loan agreements. When you’re in the civil claims process, it can feel like it’s you against the world.
Why not find an ally? Get started with a motor scooter loan from Ally Lawsuit Loans today!