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Unlike a traditional recourse or even non-recourse loan, pre-settlement legal funding from High Rise Financial is available at NO RISK to you, as long as you are in the middle of a personal injury lawsuit, and you have a lawyer representing you. Amazingly enough, you don’t have to pay us back if you lose your case!
While you were under a time limit to file your claim after you were injured, the other side is in no hurry to resolve the case. Their lawyers are working hard to give you the least amount of money possible. They may also purposely drag out the case, hoping your financial troubles will lead you to settle for a lowball offer. Don’t do it.
Pre-Settlement Legal Funding Is a Safe Loan
With a typical loan, you make monthly payments, and the loan may be high interest, based on your credit rating and debt-to-income ratio. Standard loans come in two types: recourse and non-recourse.
Recourse Loan
A typical recourse loan would be a car loan or a boat loan. If you default on the loan, the lender has the authority to not only seize the car or the boat, but to go after you in court to force you to repay what you still owe on the loan. They may force you to sell other assets, or garnish your wages.
Non-Recourse Loan
A typical non-recourse loan would be a home mortgage for someone with good credit. In this scenario, you put up the home as collateral. If you can’t make payments, the lender can foreclose on the home and resell it. But if the value of the home is less than what you owe on the loan, they cannot come after you to pay up — they have no legal recourse.
To apply for free, call (877) 735-0016
Pre-Settlement Legal Funding Is a Form of Non-Recourse Loan
With pre-settlement legal funding, your eventual settlement is the collateral we base your funding on. When you apply, we will ask about the details of your injuries, and the specifics of your case. We will also ask how much you are claiming in damages, as well as the expected settlement amount.
Our underwriters then calculate how much we can lend you, with the expectation that we will be paid back out of the settlement amount or jury award when you win your case. Since the amount of your legal funding is not tied to your personal financial situation, this means:
- NO credit check
- NO need to supply bank statements
- NO supplying tax documents
- NO proof of employment
No-Risk Loan
Pre-settlement legal funding is truly no-risk. It’s free to apply. If you win your case, your lawyer pays High Rise Financial directly out of the settlement or jury award. This is spelled out in the legal funding agreement paperwork. The amount we are paid will include your pre-settlement legal funding amount, plus a flat fee that we charge.
Because we get paid directly out of the settlement, this means:
- NO monthly payments
- NO compound interest
- NO risk of defaulting
- NO hassle
If you lose your case, your non-recourse loan simply goes away. You do not pay us a dime. Our goal is to help our clients by reducing financial stress during a personal injury lawsuit. This helps you and your lawyer focus on the big picture — developing the strongest case possible, which can result in a larger settlement.
Why Offer a Loan That Doesn’t Require Repayment?
It’s the same idea as contingency fees for lawyers. Personal injury lawyers only take on cases they think they can win. The risk of losing the case gives them incentive to work hard on your case. It’s a calculated risk, but one they take on gladly.
Why? Because everyone deserves access to justice. If only the rich could afford a lawyer, those with less money would be at a significant disadvantage. We think the same goes for our lawsuit loans. If we think your case is strong, we’re confident that we can get paid back under the agreement.
Lawsuits should be won and lost on the merits of the case, not on external factors that have nothing to do with it. Lawsuit loans are another way plaintiffs can level the playing field against insurance companies and their armies of lawyers.
Are There Situations That Could Force Repayment?
Yes. The obvious one is if you win your case. Upon winning, your lawyer will divide up the settlement money to pay their fees and our fees, then forward the rest to you. However, there are some other situations that could also force us to demand repayment.
Many of these are unusual situations and involve changing some of the fundamentals of your case. For example, if you were to fire your attorney after you received a loan, that may trigger a demand for repayment. These edge cases are clearly spelled out in our loan agreement, and very few of our customers would ever run into these situations.
Complete a Free Application form now
Apply for Risk-Free Non-Recourse Pre-Settlement Legal Funding
If you’re struggling and need financial help to pay the bills until your personal injury case resolves, non-recourse pre-settlement legal funding may be just the thing. If you qualify, High Rise Financial can provide you with the money you need to pay the bills within 24 to 48 hours of approval.
Applying for a non-recourse loan is free. And if you lose your case, you don’t have to pay us back. Apply today by filling out the form on the Apply Now page, or call our offices 24/7 to speak to a real live person.
Call or text (877) 735-0016 or fill out our form to apply today for free.