How to get paid for your Road Accident Fund (RAF) claim

Have you been involved and injured in an accident and have settled with or have a court order against the Road Accident Fund? And now you are trying to figure out how to get your Road Accident Fund claim paid out quickly. Paying for medical bills, operations and rehabilitation doesn’t come cheap nowadays. If you don’t have medical insurance, you are then liable for these bills upfront. Financial stress and pressure are not a great environment for you to do your healing. You need the peace that comes from knowing that you are covered, and your bills are paid and that your family is cared for.

If you have not yet submitted your claim to the RAF you can read our article Road Accident Fund Claims to find out more about the process and requirements.

While your lawyer and the RAF will make every effort to get your claim paid out to you as quickly as possible from start to finish this could take up to 5 years to complete a successful claim against the RAF. Once you have successfully been awarded your settlement it will take up to 180 days (6 months) to receive your funds.

First Financial offers a service that gets you paid out quickly and with minimal fees and fuss. With no middleman to take a commission you are safe in the knowledge that you are getting the best deal possible and not paying out any unnecessary commissions.

The Process

The process of applying for a bridging loan consists of 3 parts. The documentation, the submission and the payment.

The Documentation

You will need the following documentation to successfully apply for a bridging loan on your successful Road Accident Fund Claim.

  • Successful Court order or RAF settlement letter
    • you will get this from the RAF or your Lawyer.
  • Proof of Banking details
    • Go to your bank and ask them to print and stamp proof of your banking details
  • Proof of address.
    • A municipal bill or rental agreement in your name or an affidavit from your landlord or property owner where you reside.
  • Certified copy of your ID document
    • Copies of your ID can be certified at the police station or by any Commissioner of Oaths.

The Submission

Submitting your documentation and applying for your bridging loan is a simple 5-step process.

  1. Get in touch with First Financial 
  2. Send us the documentation that you have collected from the list above
  3. Our agents will fill you in on the best methods to send in your documentation when you call or email.
  4. First Financial agent will send you a quote/agreement
  5. Our fees will be outlined in our quote for your perusal
  6. You accept and sign the agreement
  7. If you used a lawyer to process your RAF claim the lawyer will need to acknowledge the bridging loan agreement
  8. First Financial makes a payment directly to your bank account.
  9. Payment will be made to the bank account details you submitted with all the other documentation.

The Payment

It is important to remember that the bank account details need to be in the name of the claimant that is stated on the RAF settlement or Court Order. Payments will not be made to lawyers accounts or family members.

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