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Non Recourse Cash Advances |
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When a person decides to borrow money from a financial institution there are certain guidelines and procedures that takes place prior to the loan. When a person decides to borrow money from LawLeaf’s lenders for lawsuit cash advances these guidelines and procedures are much different as they are non recourse. A standard loan is given with the understanding that the borrower must pay back the amount of the loan with interest rates attached.
The interest rates can vary depending upon the credit of the borrower and in some cases the type of loan.
When you apply for a pre-settlement cash advance for a personal injury lawsuit, our lenders offer non-recourse funding. Non recourse is a cash advance without risk. Non recourse means if you are not successful at winning your personal injury settlement, you don’t pay back our lenders. When our funders compete for your business they take on a risk that your case will settle. There are always instances in which a funder will advance cash to a plaintiff of a personal injury case and the attorney is not success in winning a settlement. If this happens you do not have to pay back the loan.
Non recourse loans can be advantageous because no matter the strength of your case, there are always chances that the case will not settle. When looking for a funder for your personal injury advancement you should only deal with those companies that provide non recourse funding. It is important prior to signing a contact with a lawsuit funding lender you thoroughly read over the document to make sure that the company provides non recourse funding.
Non recourse also applies to those lenders that fund more than the settlement amount. This means if a lender loans you more than the actual settlement, you don’t have to pay back the remainder of the loan. At LawLeaf our lenders will offer non recourse funding for most all personal injury related cases..
If you are currently evaluating a lawsuit cash advance apply with LawLeaf today. Our lenders are ready to compete for your business.
If you are currently evaluating lenders to help you secure a pre-settlement cash advance, apply online with LawLeaf. If you have questions regarding your case, please contact our personal injury funding representatives immediately. |
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