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There are a ton of options on the market for a borrower in need of extra cash. Some, like lawsuit loans or risky cash advances, are designed to help the lender rather than the borrower. However, non-recourse loans come with restrictions that make them safer for you. Pre-settlement legal funding is a form of non-recourse debt, but there is one significant difference: in order to get pre-settlement legal funding, you have to be in the midst of a valid lawsuit.
If you have a personal injury lawsuit in the works and are waiting through the long negotiation period, or an extended trial proceeding, you may need cash now. High Rise Financial offers pre-settlement legal funding for people in your position. Our underwriters will analyze your application and have money in your bank account in as little as 24 hours. Fill out the form on our Apply now page to get started!
What Non-Recourse Means
“Recourse,” in a legal sense, is defined by Merriam-Webster as “the right to demand payment.” When you take out a recourse loan, the lender can continue to dog you for payment even after they take whatever collateral is associated with the loan (as long as the collateral does not fully satisfy the value of what you owe. Here’s an example using a recourse home loan from a bank.
- You take out a recourse loan from a bank so that you can purchase your house.
- The house is used as collateral on the loan.
- Eventually, you default on repayment and the bank takes the house.
- Unfortunately, the value of your house does not cover the amount you owe on your loan.
- Therefore, the bank continues to demand payment, and starts taking some of your weekly paycheck.
The category into which the Internal Revenue Service divides types of debt is “non-recourse.” With this kind of debt, which includes pre-settlement legal funding from High Rise Financial, the borrower is not held personally liable. The lender cannot continue to pursue or demand payment after taking any collateral.
How Pre-Settlement Legal Funding Is Non-Recourse
When you get pre-settlement legal funds from High Rise Financial, you are taking out a non-recourse loan. Our repayment comes directly from your eventual settlement or jury award at the end of your case, and you are not held personally liable. Perhaps the most significant way this protects you is:
If you lose your lawsuit, you owe us nothing!
By offering non-recourse legal funding exclusively, we ensure that you are protected to the max. This takes the risk out of borrowing and means there’s no reason for you to go without cash when you need it.
Applying for Your Money
High Rise Financial’s underwriters are prepared to offer clients as much as $250,000 if the details of a case warrants it. The process for getting your cash now is simple, straightforward, and totally transparent. As an authorized lender, High Rise Financial is a safe bet for you and your family. Here’s how to go about applying for your cash today.
Fill Out Our Online Form
The only step that requires you to expend energy is the initial application. Enter relevant information on the form located on our Apply Now page, and we take over from there. Here are some important bits of data to include:
- Your name and contact information
- Your attorney’s or law firm’s contact information
- Details about your claim
- Details about the extent of your injuries
- Your expected settlement amount
Our Underwriters Assess Your Case
Once you submit your application, our underwriters take a look at the information you provide. This tells us how much you might need, how much is safe for us to offer, and how much you are expected to get at the conclusion of your lawsuit. Though we may need to contact your lawyer for additional information, we often are able to have money in your account in as little as a single day.
You Get Your Money
Pre-settlement legal funding is yours as soon as it hits your bank account. Unlike other forms of lending, such as medical funding, you do not have to use it on any specific expense. Spend the money as you need, on stuff like:
- Repairing or replacing a damaged vehicle
- Providing food for you and your family
- Paying off medical bills
- Paying tuition for school
- Covering daily expenses like gas, etc.
Your Attorney Pays Us Back
Once your case resolves, your attorney will get a check for the agreed upon compensation amount from the opposing party. They then write High Rise Financial a check for repayment, take their attorney’s fees, and send you the rest.
Remember, High Rise Financial charges a flat fee rather than compound interest. Also, clients with an attorney almost always get a much larger compensation than they would otherwise receive, even after paying a lawyer’s fees.
Apply Today for Pre-Settlement Legal Funding
Personal injury lawsuits often take a long time to resolve. This is because the at-fault party often stalls negotiation proceedings hoping the financial pressure will force you to agree to a lowball offer. Get pre-settlement legal funding from High Rise Financial today for a no-risk, non-recourse solution to your problems.
Simply fill out the form on our Apply Now page to get started. If you have any questions or are more comfortable speaking with one of our representatives, call us at (866) 407-6404.