In a perfect world, injuries would not exist. In a slightly less perfect world, any injuries that do arise would be compensated by the at-fault party quickly and fairly. Unfortunately, our world is not that close to perfection, and injured people often end up waiting for months or years for their rightful compensation while their personal injury lawsuit resolves. An entire industry has sprung up around this fact, with lenders offering various ways for injured people to get money now.
Lawsuit loans, one of those options, are particularly risky for the borrower. As reported by the Center for Public Integrity, injured people who take out lawsuit loans often end up paying two to three times the amount they initially borrowed. Sometimes, they are even left on the hook for repayment if they lose their case and get no compensation. That can leave an injured person in a worse financial state than before their injury!
A safe alternative is pre-settlement legal funding. Instead of functioning as a loan, pre-settlement legal funding is repaid directly out of your eventual settlement. It is a non-recourse form of funding, which means that the lender cannot hold the borrower personally liable for the debt. Translation: when you take out pre-settlement legal funding from an authorized lender like High Rise Financial, you don’t owe us anything if you lose your case.
Differences in Repayment
Whenever you borrow funding, whether it is through a no-risk lender like High Rise Financial or through a lawsuit lender, a natural question is how the repayment process works. A quick glance at the repayment options for lawsuit loans and pre-settlement legal funding will show how superior legal funding is.
Lawsuit Loan Repayment
Lenders’ repayment processes will vary, but in general, lawsuit loans act as other kinds of loans. They may require a credit check, proof of employment, and other invasive data about your personal finances. Unfortunately, they also often charge extremely high compound interest rates. You might think you’re helping yourself by signing up for monthly payments, but in reality, the compound interest can leave you digging yourself out of a financial hole.
Pre-Settlement Legal Funding Repayment
High Rise Financial is repaid directly out of your eventual settlement or jury award at the conclusion of your lawsuit. That means no compound interest and no monthly payments. Instead, your attorney will send us a check for the agreed-upon repayment amount, with no hidden fees attached, out of the compensation check sent to you by the at-fault party. You keep the rest!
Even better, High Rise Financial’s application process is totally FREE. We also offer these perks:
- No credit check
- No employment proof required
- No deep dive into your finances
And if you do not receive a compensation check at the end of your case, you do not have to repay us a dime!
For a free legal consultation, call (877) 735-0016
Which Cases Qualify
Largely, lawsuit loans are available for most personal injury claims — this is also true of pre-settlement legal funding from High Rise Financial. In the past, we have provided pre-settlement funds to clients with cases like:
- Auto accidents
- Slip and fall cases
- Medical malpractice injuries
- Injuries related to medical devices, such as class-action transvaginal mesh lawsuits
- Nursing home abuse or negligence
Given that lawsuit loans are often predatory in nature, they may impose fewer requirements. As an authorized lender of pre-settlement legal funding, however, High Rise Financial requires you to have an attorney or law firm on your case.
Not only does this help to lend validity to your claim, but it is also a good idea to get legal representation in general. You stand a much better chance at negotiating a fair settlement amount when an attorney is on your side.
Get Pre-Settlement Legal Funding Instead of a Lawsuit Loan
By now, you should see the significant difference between the risks posed by these two kinds of lawsuit funding. With a lawsuit loan, you take on serious risk and may end up in a worse spot financially than when you started. With pre-settlement legal funding from High Rise Financial, you are protected against predatory practices and do not have to stress about hidden risks. So how do you get your money now? The process is simple and transparent.
Fill out the form on our Apply Now page to start the application process. Include your contact information, your attorney’s information, and details about your case. This helps our underwriters work quickly to establish that you have a legitimate lawsuit as well as to determine the appropriate amount of funding to offer you.
We Approve You
Once we have all the information we need, our underwriters can make a decision about your request. Clients typically receive up to $250,000 (if the details of the case warrant it) in as little as 24 hours from submitting their applications.
Enjoy Your Money
Use the funds we provide on whatever you need:
- Medical bills
- Property repair
- Mortgage payments
It’s your money now, and you can do with it as you please. If your lawsuit drags on and you need additional funding, apply again, and you may be approved for another payout.
Don’t let the opposing side force you into settling for less than you deserve. Fill out the form on our Apply Now page to get your money now. For any questions or additional help, call our team at (877) 823-4377.