If you were seriously injured or have serious medical problems due to the negligence of another person or company, you’ve probably filed a personal injury claim to seek damages. If you have a serious personal injury claim, you may have hired a lawyer. And now you may be worried about how you’re going to pay them. You may keep hearing about filing fees, witness fees, copying fees, and others, and you’re getting worried.
If you lost wages or can’t work because of the seriousness of your injuries, you may have plowed right through any savings you had. And if you’re like millions of Americans, you may have been living paycheck to paycheck already.
So your expenses are piling up, and you’re considering applying for a non-recourse loan (a.k.a. legal funding) to help pay the bills. Yes, you can use non-recourse loans for lawsuit-related expenses, but is that the best way to use the money?
Many of our clients use their pre-settlement legal funding to pay for their living expenses, including:
- Mortgage payments
- Rent payments
- Car payments
- Credit card payments
- Utility bills
- Medical bills
The most important thing for you to do right now is to focus on helping your lawyer negotiate a strong settlement package. Legal funding allows you to do just that by taking away any financial stress you may be feeling. Keeping a roof over your family’s head and making sure everyone has enough to eat are your first priorities when it comes to how to use your non-recourse loan.
Fill out the form on our Apply Now page to get started.
Most Lawsuit-Related Expenses Can Wait
If your lawsuit-related expenses are piling up, the good news is that paying the expenses in your personal injury case can likely wait. This is because most personal injury lawyers work on a contingency-fee-basis, meaning you don’t pay any money until you settle your case or receive a jury award.
If you’re paying an hourly fee, you may want to switch lawyers to a contingency-based one. In this scenario, your lawyer takes a risk by representing you, but they work especially hard on your case because they know that if they lose the case they don’t get paid.
Repaying High Rise Financial
High Rise Financial works on a similar contingency basis. When we draw up your non-recourse loan (legal funding) agreement, we spell this out in our terms and conditions. Unlike a standard loan, you pay us one lump sum when your case resolves. This means:
- NO interest
- NO monthly payments
So there is no need to use your non-recourse loan to pay our lawsuit-related expenses either. And like your lawyer, if you fail to reach a settlement and lose your case in court, you don’t have to pay us back. This is because of the non-recourse nature of your settlement advance.
Paying a Medical Lien
You may want to use your non-recourse loan to pay any medical bills you incurred after your injuries. Your lawyer may have been able to help you negotiate a reduction in the bills or negotiated a payment plan.
If you need medical care that includes surgeries and/or rehabilitation while you are fighting your personal injury case, your lawyer may suggest working with doctors who offer the kind of medical care where they don’t send you a bill right away.
Not all states allow this. And not all doctors or hospitals do this. But it is becoming more common for medical providers who care for personal injury plaintiffs to offer this kind of care by way of a medical lien.
Here, the healthcare provider draws up a legal document called a lien letter whereby you agree to pay them out of your eventual settlement funds or jury award. High Rise Financial can help you and your lawyer find medical providers who do this should you need it.
For a free legal consultation, call (877) 735-0016
To Sum Up
In most situations, you do not need to use your non-recourse loans for lawsuit-related expenses. We advise that you use your legal funding to pay for daily, weekly, and monthly living expenses instead. But it is completely up to you how you use the funds once we transfer them into your account. The money is yours to spend as you deem necessary.
Apply for a Non-Recourse Loan of Legal Funding Today
If you’re having trouble making ends meet while you wait for your personal injury case to resolve, pre-settlement legal funding in the form of a non-recourse loan from High Rise Financial might be a good solution.
Applying is quick and easy. In most cases, we can approve you the same day, and once you sign the paperwork we can have the money in your account within 24 to 48 hours. The money is then yours to use however you need to.
Just fill out the form on the Apply Now page to get the process moving. Or you can call us at (866) 407-6404 for assistance.