Cash Advance in Compensation Claims – Process
Being hurt in an accident can have far reaching financial consequences, some of which will impact you straight away. Time off work may be required when your injuries are at their worst; depending on your employment terms, you may not be covered for some of the time off needed during your recovery. Additionally, you may need to fund unexpected treatment and medication costs, as well as expensive journeys to and from appointments.
These costs are often recovered at the conclusion of your claim; however you may feel the pinch whilst your claim is ongoing. At Aston Knight Solicitors we understand this and can lend a helping hand whilst acting for you in your claim for compensation.
We can arrange for you to receive an advance of up to £1000.00 in cash from your final compensation award to ease your financial burden whilst your claim continues.
You will qualify the first advance of £200.00 once the following conditions are met:
- The insurers of the person(s) at fault for your accident have been identified and fault for your injuries has been admitted and;
- you have been examined by a doctor and approved their subsequent medical report detailing your injuries, treatment and recovery and;
- based on the doctor’s opinion, and our expertise we estimate you will receive more than £1500.00 in compensation for your injuries when your claim ends and;
- Evidence of the injuries sustained by you and of your financial losses are ready to submit to the insurers of the person(s) at fault for your accident.
You will then automatically qualify for a second advance of up to £800.00 when we receive a first offer of settlement from the insurers of the person(s) at fault for your accident, providing their offer exceeds £1500.00. This leaves us free to negotiate increased compensation for you, rather than you settling for less than you are entitled to due to financial hardship.
If requested, you will receive each advance within 14 days once the above criteria are met; we can even transfer this directly into your bank account. Any advance borrowed will simply be deducted from the compensation recovered from the insurers of the person(s) at fault for your accident.
Unfortunately, if you suffer life changing injuries, it may be some time before a medical expert can give a definitive opinion about your injuries and comment on the long term effects of your accident. As a result, if you are seriously injured your compensation claim it may take years to conclude; however you are likely to require immediate financial assistance and sadly our cash advance may not be enough.
Whilst we act for you in your serious injury compensation claim, we will negotiate an interim payment to meet your immediate needs. We will work hard to ensure your immediate treatment and rehabilitation needs are met, and to ease the financial burden on you and your loved ones. If adaptations to your home are required to help you regain independence we can also help.
For more information on our cash advance compensation claims, or a free consultation with a experienced personal injury solicitor about your matter, please call our offices on 0161 399 1231.