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Weeks. Months. Years. When you file a personal injury lawsuit, you never know how long you might have to wait before you get your money from the at-fault party. In fact, sometimes the person who should be compensating you, as well as their insurance company, will try to extend negotiations as long as possible. They do this hoping that you will become desperate enough for cash to agree to a smaller settlement arrangement. The good news is that you can get the money you need to tide you over while your case resolves through the pre-settlement funding at High Rise Financial.
Pre-settlement funding is a way of getting money now and then paying back the borrowed amount from your eventual settlement or jury award. In a sense, it is like borrowing from your future self. At High Rise Financial, there are:
- NO credit checks
- NO proof of employment required
- NO invasive assessment of your finances
- NO hidden fees
- NO RISK
If you have a pending personal injury lawsuit, you may qualify for pre-settlement legal funding. Apply today for FREE to see how we can help you.
Pre-Settlement Legal Funding Is Safe
When you get legal funding from High Rise Financial, you are NOT getting a lawsuit loan. As reported by the Center for Public Integrity, lawsuit loans often leave injured people with repayment plans that end up being worth two or three times what they initially borrowed.
Even worse, sometimes lawsuit loans require injured people to sign up for monthly payments regardless of whether they win their case. This often leaves the borrower worse off than before they took out the loan.
Pre-settlement legal funding, however, is not a lawsuit loan. The repayment for the funds provided by High Rise Financial comes directly out of your eventual settlement—not your personal finances. There are no monthly payments, and you do not owe us anything if you end up losing your case.
That’s why we can confidently say that pre-settlement legal funding poses no risk to you.
Non-Recourse Debt and Legal Funding
Another, more subtle way that pre-settlement legal funding is much safer than a lawsuit loan is that legal funding from High Rise Financial is non-recourse debt. This distinction is a bit technical, but it is worth unpacking.
The Internal Revenue Service classifies all debt as either recourse or non-recourse. With a recourse loan, the lender can hold the borrower personally liable for the entire debt owed. On the other hand, a non-recourse loan sets clear limits on what the lender can recover from the borrower. Let’s start with an example of a recourse loan situation.
- You take out a recourse home loan from your bank to purchase a house.
- Eventually, you default on your loan.
- The bank seizes your house since it is the collateral for your loan.
- However, the value of the house is not enough to cover your debt.
- The bank can take money out of your paycheck until the debt is covered since this was a recourse loan.
Now let’s examine the same situation, but with one major difference. This time, you take out a non-recourse home loan.
- You default on your non-recourse home loan.
- The bank still seizes your house, since that is the collateral for a home loan.
- The value of your house does not cover your debt.
- The bank cannot pursue you for more money since you took out a non-recourse loan.
Pre-settlement legal funding from High Rise Financial is non-recourse. That means you are protected from personal liability, even if we wanted to pursue you for repayment. For example, if you end up losing your lawsuit and fail to get compensation, you do not owe us anything!
How We Determine Your Amount of Funding
Every injured person’s situation is unique. You may only need a little extra cash to provide you with a cushion, whereas someone else with a similar injury lawsuit might need significantly more. So how does High Rise Financial determine how much funding to offer you? Our underwriters look at several factors.
The Expected Settlement in Your Claim
One of the most important aspects in determining how much we can offer you is the expected recovery at the end of your case. Since our repayment comes directly from your recovery, that prediction lets us know what is feasible and within your budget.
Similar Cases and Their Compensation Awards
If negotiations between you and the other party fail, you will need to take your claim to court. In that case, one of the predominant determinants of your award will be the amount given to injured people with cases similar to yours in the past. Knowing this history can help us understand the gravity of your claim.
The Extent of Your Damages
Your recovery package is largely determined by the damages you suffer. For example, someone who becomes permanently disabled from their injury is likely to receive a much higher settlement or jury award than someone who suffers only temporary harm. By giving us information about your injury, property damage, and other impacts your injury has had, you help our underwriters better understand your situation.
Our underwriters work quickly to get you your money. Many of our past clients received pre-settlement legal funding in their accounts in as little as 24 hours after applying. If the case warrants it, we can provide up to $250,000.
Get Your Money ASAP
Applying for pre-settlement legal funding from High Rise Financial is FREE. Fill out the form on our contact page to start the process. If you have any questions, call our team at (877) 823-4377.