If you filed a personal injury claim and it seems like the other side keeps delaying to get you to accept a lowball offer, hoping you will run out of funds, don’t do it. If you’re financially strained while waiting for your lawsuit to settle or go to trial, you’re looking for money fast. You likely have medical bills piling up, and you may be out of work due to your injuries. Before you go take out a personal loan or get a risky lawsuit loan, check out a non-recourse loan in the form of pre-settlement legal funding from an authorized lender.
High Rise Financial is just such an authorized lender. We offer pre-settlement legal funding to personal injury claimants across the country. The process is no-risk. What we mean by that is:
- Applying is free, and there are no hidden fees.
- You don’t have to make monthly payments you can’t afford.
- The loan is interest-free.
- You don’t have to pay us back if you lose your case.
Sound too good to be true? It’s not. If you’re interested in getting the legal funding you need from a reliable lender, contact High Rise Financial. Fill out our online application form today.
How the Process Works
It’s important to distinguish the non-recourse loan you get through pre-settlement legal funding from predatory lawsuit lenders who charge high interest and go after you for repayment if you lose your case.
Recourse Debt vs. Non-Recourse Debt
In a nutshell, according to the Internal Revenue Service (IRS), all debt is either recourse or non-recourse. The type of debt is defined by whether or not the lender can hold you, the borrower, personally liable for what is owed.
- Recourse debt: You are personally liable for full repayment of the debt.
- Non-recourse debt: You are not personally liable; the lender can only repossess the collateral for the loan.
For example, let’s say you take out a recourse loan to buy a car. The car itself is collateral for the loan. You sign an agreement to make monthly payments until you’ve paid off your loan. Unfortunately, you hit financial hardship, and you default on the loan. In this recourse loan situation, the lender could:
- Repossess your car as collateral
- Resell the car
- Pursue legal action against you when the car’s resale value is less than what you still owe on the loan
- Garnish your paycheck until the debt is paid
However, if you take out a non-recourse loan, the most the lender could do is take the collateral (the car). Unfortunately, most traditional loans are recourse loans. They protect the lender rather than the borrower. You may be able to get a non-recourse home mortgage loan if you have excellent credit and a low debt-to-income ratio.
Pre-Settlement Legal Funding Is a Non-Recourse Loan with Extra Benefits
The amount of pre-settlement legal funding you get from High Rise Financial is based on your legal case and your potential settlement amount. Since we get repaid directly from your settlement or jury award, your settlement advance does not have anything to do with your personal finances.
Also, the terms of your legal funding are different from a traditional loan as well. This means:
In order to apply:
- NO credit history check
- NO tax records
- NO proof of employment
Once you get the pre-settlement legal funding:
- NO monthly payments
- NO interest
- NO requirement to pay us back if you lose your case
Pre-settlement legal funding truly is risk-free. You may wonder how we can offer legal funding (as a non-recourse loan) without charging interest. We charge a flat fee, based on the amount of cash we provide you. That fee is then added to the amount of funding you receive, and we receive the total amount when your case settlement or jury award is finalized. This is spelled out in the agreement you and your personal injury lawyer will sign.
Once you sign the agreement, in most cases, we can deposit the funds in your bank account within 24-48 hours. Once it’s in your account, it is yours to spend how you wish. Most of our clients use the funds to pay:
- Medical bills
- The mortgage or the rent
- Utility bills
- Credit card bills
- Tuition fees
Our goal is to provide you with the funds you need to tide you over until your case settles or goes to court. If your lawsuit drags on and you find yourself financially struggling again, you can apply for another round of legal funding.
Apply for Non-Recourse Legal Funding Now
If you have a pending personal injury lawsuit and you need help paying your bills, legal funding in the form of a non-recourse loan can help. At High Rise Financial, we specialize in helping people just like you. Find out how High Rise Financial can help you get the money you need to pay medical bills, rent or mortgage payments, and take care of other expenses you may have. We have helped hundreds of clients get pre-settlement legal funding.
Just fill out the form on our Apply Now page, or call us any time at (866) 407-6404 to get started.