You can get a cash advance for a workers’ comp claim, but not in the same way as a traditional loan or paycheck advance. When you’ve been injured at work, bills don’t stop coming even if your paychecks do.
You might expect workers’ compensation to cover medical expenses and lost wages right away. Unfortunately, that’s not always the case.
Paperwork, employer disputes, and other delays can leave you waiting weeks or even months for the benefits you need. Fortunately, you may be able to qualify for work-related injury lawsuit funding. This type of funding can help you stay financially stable while your case is pending.
What is a Cash Advance for a Workers’ Comp Claim?
A workers’ compensation cash advance is a particular type of legal funding that gives injured workers like yourself immediate access to a portion of the potential settlement while the claim is still in progress. Unlike a loan, this advance is non-recourse, meaning you only repay it if and when your case concludes successfully.
If your claim is denied or does not result in compensation, you owe nothing back. That’s because your case itself serves as the collateral.
A workers’ comp pre-settlement funding team can explain your options for a cash advance and connect you with the financial support you need.
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Why It Takes So Long to Get Workers’ Comp Benefits
Workers’ compensation is designed to protect employees after on-the-job injuries. Unfortunately, there are many factors that slow down this process, making it hard for you to cover important costs. Here are some common reasons payments get delayed:
- Your employer may challenge whether the injury was work-related
- The insurer may require multiple doctor evaluations or additional medical documentation
- If your injury involves long-term disability or multiple medical treatments, approval can take months
- Even when your claim is approved, payments can be delayed due to issues with paperwork or lengthy state agency processing times
During these delays, essential bills like rent, utilities, groceries, and medical costs keep piling up. A non-recourse cash advance can help bridge the gap so you focus on what’s important: your recovery. Reach out to a pre-settlement funding team to learn more about getting a cash advance for your workers’ comp claim.
How Workers’ Comp Legal Funding Works
If you’re wondering whether you can get a cash advance for a workers’ compensation claim, you’ll want to learn more about how legal funding works.
Legal funding is a simple, straightforward process that can help you get the money you need when you need it most. Here’s how it typically works:
- You apply online or by phone, providing a few basic details about your workers’ comp case
- Your legal funding partner works directly with your lawyer to review your case and verify eligibility for funding
- Your funding team uses advanced technology and case analysis systems to calculate the amount of funding you qualify for
- If approved, you can receive your cash advance through direct deposit, eCheck, wire transfer, or Western Union
- Once the insurance company issues payment, your attorney repays your funding partner directly from the settlement
- If you don’t receive compensation, you owe nothing
As you can see, a pre-settlement legal funding team can provide the assistance you need to get life-saving funding after a workplace accident. No matter how serious your injury is or how significant your losses are, you may qualify for a cash advance on your claim.
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What You Can Use a Workers’ Comp Cash Advance for
A cash advance for your workers’ compensation claim can be used for almost any expense related to your daily life or physical recovery.
Many workplace injury victims use their advance to cover the following expenses:
- Rent payments
- Mortgage
- Utility bills
- Phone bills
- Medical treatment expenses
- Cost of prescriptions
- Childcare or transportation costs
- Groceries
- Physical therapy costs
Because many workers’ comp claims take months to resolve, a cash advance can help you stay on top of medical bills and daily living expenses during the wait.
Your pre-settlement funding consultation is free — contact us today!
Get the Funding You Need to Assist Your Workplace Injury Recovery
Since 2007, Pegasus Legal Capital has helped more than 15,000 clients access non-recourse cash advances while waiting for case resolutions. We’ve provided over $500 million in legal funding, and we’re committed to getting the resources you need to support yourself while your attorney pursues compensation for your workplace accident injuries and losses.
What makes our team different is our advanced underwriting technology, which allows us to evaluate your case efficiently and with precision.
By leveraging technology and our extensive experience, we can help you get a cash advance for a workers’ comp claim. Contact us today to schedule a free consultation and learn more about the helpful services we provide.
Your pre-settlement funding consultation is free — contact us today!