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.

With a non-recourse loan (or pre-settlement legal funding), you are NOT held personally liable for the debt. If you end up defaulting on the loan, the most the lender can pursue in repayment is the collateral associated with the loan.

For example, a bank may foreclose on your home to recoup debt associated with a home loan. However, it would be unable to take money out of your paycheck or pursue further payment even if your home’s value does not cover your debt.

Recourse loans, on the other hand, have no such protections. The lender is given virtually free rein to pursue repayment in any way they wish, even garnishing your wages. This type of lending is prevalent among lawsuit loans, which is why groups like the Center for Public Integrity have called out these practices as too risky for injured people.

To get no-risk, non-recourse funding for your personal injury claim, fill out the form on our Apply Now page. Call our team at (866) 407-6404 if you have questions or would like additional information.

How Non-Recourse Legal Funding Works

High Rise Financial is NOT a lawsuit loan company. We offer pre-settlement legal funding, which is non-recourse in nature. That means you won’t be locked down into monthly payments, there is no compound interest, and you owe us nothing if you lose your lawsuit. This is why we can safely say that our funding is risk free!

Eligibility for Pre-Settlement Legal Funding

Ultimately, High Rise Financial gets repaid out of the compensation package you receive, which can be either a settlement arrangement or a jury award. Since your personal finances are not involved, your eligibility does not depend on things like:

• Bank statements
• Proof of employment
• Debt-to-income ratio
• Tax records

Instead, your eligibility is determined by the facts of your case. In order to get pre-settlement legal funding from us, you must:

• Have a valid personal injury claim filed in court
• Be represented by a lawyer or law firm

When you fill out your application, you’ll be asked for information like the state of your injuries, a ballpark estimate of your compensation amount, the name of the law firm or solo practitioner that represents you in this claim, and the value of the damages you suffered. This information is used by our underwriters to determine whether we can offer you pre-settlement legal funding and, if so, what amount.

In some cases, we are able to provide up to $250,000 and can have it in your bank account in as little as 24 hours.

Paying Back Your Non-Recourse Legal Funding

Most clients who receive pre-settlement legal funding ask about the repayment process. At High Rise Financial, we keep everything simple and transparent so that you never have to worry about hidden fees or unexpected payments. Instead of compound interest, we use a flat-fee. That means you won’t wind up paying back two to three times what you borrowed, like you might with lawsuit loan companies.

You also don’t have to endure monthly payments, and the repayment process doesn’t require you to lift a finger. It’s all handled by your attorney! Here is the typical timeline of repayment.

1. You get pre-settlement legal funding from High Rise Financial, allowing your attorney the time they need to get you the compensation you deserve.
2. You win your case.
3. Your lawyer receives a check for the compensation package from the opposing party.
4. Your lawyer writes High Rise Financial a check for the agreed upon repayment amount, takes out their attorneys’ fees, and you keep the rest!

Not only do you keep the rest of your compensation, as well as the money you received from us, but you don’t have to stress over repayment whatsoever. It’s a win for everyone!

Apply Today for Your Non-Recourse Pre-Settlement Legal Funding

Applying for funds from High Rise Financial is totally FREE. Since we always offer non-recourse funding rather than recourse loans, there is no risk to you and your personal finances are protected. You are not held personally liable for the debt you take on, and the most we can take as repayment is our portion of your eventual settlement or jury award.

High Rise Financial’s application form can be completed quickly, and our underwriters can have money in your bank account in as little as 24 hours. To get started, fill out the form on our Apply Now page. For any additional questions, concerns, or information about the process, call us today (866) 407-6404 and one of our financial experts will be happy to discuss your claim.