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An entire industry has sprung up around this fact, with lenders offering various ways for injured people to get money now. Lawsuit loans, one of those options, are particularly risky for the borrower. A safe alternative is pre-settlement legal funding.
Instead of functioning as a loan, pre-settlement legal funding is repaid directly out of your eventual settlement. It is a non-recourse form of funding, which means that the lender cannot hold the borrower personally liable for the debt. Translation: When you take out pre-settlement legal funding from an authorized lender like High Rise Financial, you don’t owe us anything if you lose your case.
Differences in Repayment
Whenever you borrow funding, whether it is through a no-risk lender like High Rise Financial or through a lawsuit lender, a natural question is how the repayment process works. A quick glance at the repayment options for lawsuit loans and pre-settlement legal funding will show how superior legal funding is.
Lawsuit Loan Repayment
Lenders’ repayment processes will vary, but in general, lawsuit loans act as other kinds of loans. They may require a credit check, proof of employment, and other invasive data about your personal finances. Unfortunately, they also often charge extremely high compound interest rates.
You might think you’re helping yourself by signing up for monthly payments, but in reality, the compound interest can leave you digging yourself out of a financial hole.
Pre-Settlement Legal Funding Repayment
High Rise Financial is repaid directly out of your eventual settlement or jury award at the conclusion of your lawsuit. That means no compound interest and no monthly payments. Instead, your attorney will send us a check for the agreed-upon repayment amount, with no hidden fees attached, out of the compensation check sent to you by the at-fault party. You keep the rest!
Even better, High Rise Financial’s application process is totally FREE. We also offer these perks:
- No credit check
- No employment proof required
- No deep dive into your finances
And if you do not receive a compensation check at the end of your case, you do not have to repay us a dime!
To apply for free, call (877) 735-0016
Which Cases Qualify
Largely, lawsuit loans are available for most personal injury claims — this is also true of pre-settlement legal funding from High Rise Financial. In the past, we have provided pre-settlement funds to clients with cases like:
- Auto accidents
- Slip and fall cases
- Medical malpractice injuries
- Injuries related to medical devices, such as class-action transvaginal mesh lawsuits
- Nursing home abuse or negligence
Given that lawsuit loans are often predatory in nature, they may impose fewer requirements. As an authorized lender of pre-settlement legal funding, however, High Rise Financial requires you to have an attorney or law firm on your case.
Not only does this help to lend validity to your claim, but it is also a good idea to get legal representation in general. You stand a much better chance at negotiating a fair settlement amount when an attorney is on your side.
Get Pre-Settlement Legal Funding Instead of a Lawsuit Loan
By now, you should see the significant difference between the risks posed by these two kinds of lawsuit funding. With a lawsuit loan, you take on serious risk and may end up in a worse spot financially than when you started. Withpre-settlement legal funding from High Rise Financial, you are protected against predatory practices and do not have to stress about hidden risks.
So how do you get your money now? The process is simple and transparent.
Apply Online
Fill out the form on our Apply Now page to start the application process. Include your contact information, your attorney’s information, and details about your case. This helps our underwriters work quickly to establish that you have a legitimate lawsuit as well as to determine the appropriate amount of funding to offer you.
We Approve You
Once we have all the information we need, our underwriters can make a decision about your request. Clients typically receive up to $250,000 (if the details of the case warrant it) in as little as 24 hours from submitting their applications.
Enjoy Your Money
Use the funds we provide on whatever you need:
- Groceries
- Medical bills
- Property repair
- Rent
- Mortgage payments
It’s your money now, and you can do with it as you please. If your lawsuit drags on and you need additional funding, apply again, and you may be approved for another payout.
The Benefits of Lawsuit Loans
There are a lot of benefits to using lawsuit loans to help you in your time of need while you wait for the court to navigate your legal settlement rights. Though these loans are not the only way to pay your bills or meet your other obligations right now, they tend to offer a few key advantages to those who use them, especially if they do not have access to income right now:
- Stay in your home: With lawsuit loans, you can keep making payments on your home loan or rent, which means you do not lose your home because you do not have the financial means to cover your monthly costs.
- Continue your medical care: It is not uncommon for some medical providers to stop providing care to patients who may be unable to make payments on their bills. Even though you know you are going to have those funds, you may lose out on access to the doctors you like if you cannot pay them now.
- You do not need a credit check. Instead of opening another line of credit and having to have a credit check, there is no review of your financial situation at all, and there is no employment check or monthly expense breakdown considered either. These loans are easier to obtain than any other option for those with a settlement pending.
- There is no risk to you. This is perhaps one of the most important benefits of lawsuit loans. If, for any reason, you do not receive compensation through the court for your injury, you do not have to repay the loan.
- Maintain your quality of life. What happened to you was not your fault, but it may be impacting your quality of life, relationships, and even your mental health, often due to the financial strain it creates. These loans could help to minimize those risks at least a bit.
While there are many benefits to using lawsuit loans, there are some disadvantages as well. For example, there are fees involved, and that fee often comes from the settlement you are paid after your lawsuit. In other words, like any other loan, there is a fee for you to pay to obtain these loans, but you only repay it with the settlement funds.
Costs can be reasonable and should always be transparent to you.
Complete a Free Application form now
The Right Lender Makes the Difference
Who you decide to work with to support your financial needs during this time is critical. Be sure to take a closer look at how High Rise Financial stands out:
- You can apply right now online and get a fast answer.
- You do not have to repay your loan if you do not win your case.
- We provide transparent financing – you know exactly what to expect.
- We have 5-star Google reviews and lots of testimonials to prove we are here for our clients.
- We can provide you with the peace of mind you need right now.
Apply Today
Don’t let the opposing side force you into settling for less than you deserve. Fill out the form on our Apply Now page to get your money now. For any questions or additional help, call our team.
Call or text (877) 735-0016 or fill out our form to apply today for free.