When the legal and financial worlds meet, you can expect a lot of jargon you’ve never heard before. Or if you’ve heard the phrase, you don’t yet have a clear idea of what it means. Before we get into how non-recourse loans work, we need to go over what a non-recourse loan is. Here at …
How Do I Know if My Loan Is Recourse or Non-Recourse?
A lot of financial jargon is involved when applying for a loan. To protect yourself, it is important to make sure you know what you’re getting yourself into. A major factor in what happens if you find you can’t repay a loan is whether your loan is recourse or non-recourse. According to the Internal Revenue …
Do Non-Recourse Loans Show Up on Your Credit Report?
Standard non-recourse loans will show up on your credit report. But your pre-settlement funding will not. That’s because your pre-settlement legal funding from High Rise Financial is essentially a non-recourse loan, with some special benefits. We design our legal funding program to be a risk-free proposition for our clients. If you’re in the middle of …
Can You Apply for More than One Non-Recourse Loan?
If you were seriously injured as the result of someone else’s negligence, you likely have a lot of medical bills. If you are unable to work because of your injuries, you have other expenses you’re worried about. You filed a personal injury case, but it seems like it’s been going on forever. How will you …
Who Is Eligible for a Non-Recourse Loan?
High Rise Financial provides non-recourse pre-settlement legal funding, not loans per se. This is an important distinction, as some predatory companies offer lawsuit loans that have been decried by organizations like the Center for Public Integrity. We exclusively provide non-recourse funding to clients because non-recourse debt protects the borrower. Eligible borrowers include anyone with a …
What’s the Difference Between Non-Recourse Loans and Recourse Loans?
When taking out a loan, or receiving any funding that will result in debt, it is crucial to know whether you’re getting a recourse loan or a non-recourse loan. Those are the two categories of debt into which the Internal Revenue Service divides all loans. Though the names sound similar, the difference is that non-recourse …
What Is a Non-Recourse Loan?
High Rise Financial provides personal injury claimants with non-recourse pre-settlement legal funding. However, many clients wonder what “non-recourse” means. Ultimately, all debt is classified as either recourse or non-recourse, and the distinction is vitally important. Non-recourse debt is designed to protect the borrower. To get no-risk, non-recourse funding for your personal injury claim, fill out …
How Long Does It Take to Process an Application for a Non-Recourse Loan?
At High Rise Financial, we know that injured people who need pre-settlement legal funding don’t have time to wait around for weeks to get their money. Medical bills pile up, pre-injury expenses may not adjust to your new circumstances, and you could face mounting pressure to settle your case for a lowball offer. That’s why …
Does It Cost Anything to Apply for a Non-Recourse Loan?
Non-recourse loans (or pre-settlement legal funding in the case of High Rise Financial) are designed to protect the borrower from risk. For some lenders, the application process may come with a fee. However, High Rise Financial has a FREE application process so that people with personal injury lawsuits can get the money they need as …
Are Non-Recourse Loans Worth It?
Deciding whether to take out a loan is always a tough decision. You need to make sure you weigh repayment obligations, your overall debt-to-income ratio, and the benefit you stand to receive by getting financial assistance. Ultimately, only you can decide whether a loan, cash advance, or pre-settlement legal funding is “worth it.” However, if …