Here at High Rise Financial, we provide a type of legal funding known as a non-recourse loan. We are not a bank. Instead, we work with clients who have been seriously injured as a result of negligence on the part of another person or entity. This can be due to a motor vehicle accident, medical malpractice, or another similar situation. If you have been involved in a personal injury case and you’re represented by a lawyer, you’re eligible to apply.
Once you’re approved, we can transfer funds to your account in as little as 24-48 hours after you sign the financial agreement. And once the money is in your account, it is yours to spend as you wish—no strings attached.
Applying is easy. Just fill out the form on the Apply Now page, or call us at (866) 407-6404 if you need assistance.
In This Article
How Clients Typically Use Their Legal Funding
There are no restrictions on what you can use a non-recourse loan for. That said, most people who apply for pre-settlement legal funding are having trouble paying their bills while they wait for their personal injury case to settle or go to trial. Many of our clients are out of work or have lost wages due to their injuries. This can put a financial strain on anyone.
While most of our clients don’t use a non-recourse loan to, say, go on the vacation of a lifetime or buy a boat, you could if you want to—the money is yours.
Common uses for the money include:
- Medical bills
- Home care services
- Making home renovations needed because of severe injuries
- Credit card payments
- Car payments
- Mortgage or rent payments
- Tuition payments
- Utility bills
- Buying groceries
To apply for free, call (877) 735-0016
How the Process of Getting a Non-Recourse Loan Works
Getting a non-recourse loan in the form of pre-settlement legal funding from High Rise Financial is a simple process. Applying is easy, the approval process is quick, and repayment is simple.
The Application Process
You must meet two basic requirements to apply. You must have an active personal injury case, and you must be represented by a lawyer. Some of our clients are at the beginning of their personal injury lawsuit, some are deep in the middle, and others have a tentative settlement agreement but the money is not coming fast enough.
No matter what situation you are in, all you have to do is use our Apply Now form and supply us with some basic information. This includes:
- Your name and contact information
- Your attorney’s contact information
We may also ask for some basic information about your personal injury case, but we may be able to get that information straight from your lawyer. We’ll need to know about the severity of your injuries, what the future may hold as far as continuing medical care, the strength of your case, and the potential settlement or jury award you might expect.
Legal funding is not a typical loan. It is connected to your personal injury case, and not your debt-to-income ratio. That means:
- NO credit check
- NO employment requirement
- NO supplying us with tax records
The Approval Process
Once we have all the information we need, our underwriters will review your case and look at the financial agreements that were reached in similar cases in your state. They will also look to see if there is a possibility of punitive damages. They have a formula they use that can predict the amount of your settlement.
Then, based on that number, we decide what percentage we could reasonably loan you. We’ll present a written offer to you and your lawyer. If you agree to the terms, you simply sign the documents we provide, and we can get your cash to you within 24-48 hours.
The Repayment Process
Repayment of your non-recourse loan isn’t actually a process like you might expect. That’s because legal funding is not a traditional loan. This is all spelled out in the financial agreement you and your lawyer sign, but you should know that:
- There are NO monthly payments.
- There is NO interest to increase the amount you must pay back.
- You don’t pay us a dime if you lose your case.
You repay us in one lump sum when your case settles and/or you receive a jury award. Actually, your lawyer pays us out of the funds you receive. When your case resolves, your lawyer will get a check from the third party for the full amount of the settlement or award. They pay us directly from these funds, then they deduct their legal fees and any other agreed-upon expenses. After that, the rest of the money is yours.
Your legal funding is essentially a non-recourse loan that uses your potential settlement as collateral. This is why, if you lose your case, you don’t have to repay us.
A non-recourse loan through High Rise Financial is a safe, worry-free way to help make ends meet while you focus on recovering and working with your attorney on building a strong case.
Ready to Apply?
If a non-recourse loan from High Rise Financial sounds like a good option for you, simply visit our Apply Now page. Filling out the application shouldn’t take more than a minute or two, and a non-recourse loan is a great way to decrease your financial stress while you wait for your personal injury case to wrap up. Once we consult with your lawyer, we can work toward approving you for pre-settlement legal funding.
If you have further questions, please call our office at (866) 407-6404, or check out our FAQs section.