How to know how much to ask for an advance on your settlement ?

[Sunshine7]

I have been left in the dark this whole case, the only way IO find things out is here,
I'm not sure properly how to word it,
I would like to get an advance payment on my settlement, BUT! I don't know what my rating is and so on, what are some important factors here that I should know?
Not knowing my rating how much can I ask for?
Without going in debt?
I ask this for personal reasons and all replies and answers are apreciated, thanks again.
P.S. Can you ask for an advance without rating?
If they are saying I'm P&s or MMI, i ASSUME THERE HAS TO BE A RATING OR AM i WRONG?

[1171]

Talk to your atty about having regular advances started--rather then a single sum.

[Bad Boy Bad Boy]

Yes I agree, talk with your attorney before you ever try to attempt this.

If your thinking of getting one of those advance loans, use extreme caution, if you don't know what your getting yourself into. Plus, your attorney needs to know before hand, as they must make contact with your attorney, to secure re-payment when settled. Those loans can cost as much as double or more then what you ask for.

If thinking case advance from your work comp IC, you still need to go through your attoney.

[Manley2]

Know somebody that used a WC loan place. Interested was 49 % and they had a date it was to be paid back. If not they had a right to take every other TTD check he got until it was. And yes his attorney looked over the contact but not until after he got the loan and said they could take his checks. They didn't have to want until or if he got a settlement. Just a warning to all on this one

[freebird]

Sunshine7 Wrote:I have been left in the dark this whole case, the only way IO find things out is here,
I'm not sure properly how to word it,
I would like to get an advance payment on my settlement, BUT! I don't know what my rating is and so on, what are some important factors here that I should know?
Not knowing my rating how much can I ask for?
Without going in debt?
I ask this for personal reasons and all replies and answers are apreciated, thanks again.
P.S. Can you ask for an advance without rating?
If they are saying I'm P&s or MMI, i ASSUME THERE HAS TO BE A RATING OR AM i WRONG?

Are you at a point financially where securing a loan like this is your only choice?
The Interest rate is what? I do not know your financial situation but this would/should be a last option.

I have been in the WC circle almost 7 years and I cannot tell you what my settlement will be.

[inpainokla]

i agree with freebird..ive heard there hard to get and could actually end up puting you in a hole and maybe owing the insurance company if your rating is low and they lend you more than what you get..and that would open up a whole other can of worms..i would only go that route as a very last option..i would hit up my family first there a little more understanding about getting paid back

[midnightmouse]

Sunshine7 Wrote:I have been left in the dark this whole case, the only way IO find things out is here,
I'm not sure properly how to word it,
I would like to get an advance payment on my settlement, BUT! I don't know what my rating is and so on, what are some important factors here that I should know?
Not knowing my rating how much can I ask for?
Without going in debt?
I ask this for personal reasons and all replies and answers are apreciated, thanks again.
P.S. Can you ask for an advance without rating?
If they are saying I'm P&s or MMI, i ASSUME THERE HAS TO BE A RATING OR AM i WRONG?

[midnightmouse]

im so confused on how this works in w.va. i have a broken back and the lawyer says no pain and suffering and no loss of wages to only get 250.00 for this is nuts maybe im stupid. can anyone tell me how this works in people terms.

[1171]

in order to determine additional disability benefits for permanent impairment you need an impairment rating from your doctor. the higher the rating the more additional benefits you will get.
the rules for workers comp benefits are available from the West Virginia website
http://www.wvinsurance.gov/Default.aspx?tabid=330

[Manley2]

I believe most if not all WC systems do not pay for pain and suffering. As for loss of wages it depends on what you are talking about. WC should pay for normal loss of wages from an injury. By that I mean most do not include over time pay in the loss. If you are off work because your doctor put you off you should get 66% of your normal pay. One thing to remember is nobody gets rich on WC. Those that are hurt for life will almost never get the wages they lost because of the injury. Sad but true