With exploitative and frankly dangerous loan options available, it’s understandable that you would be wary of something that seems “too good to be true.”
When many people hear about non-recourse litigation funding, that’s what they picture—a deal can’t actually be this good, can it? Yes, it can. Keep reading, and we’ll explain non-recourse litigation funding to help you determine whether it’s right for you.
This is Not a Personal Loan
When you take out a personal loan, the lender doesn’t usually base your repayment on your situation. Say you get a loan of $5,000 to start a small business, and the small business fails. Your lender still wants their $5,000 back—with interest. Now, you’re stuck paying back several thousand dollars you don’t have, and you don’t have your small business. In a way, you’re in a worse situation than when you started.
When you secure non-recourse litigation funding, you don’t need to worry about that. After applying for funding, a team looks at your case and evaluates it. You get a cash advance to help with all your bills if you’re approved. You can pay legal fees, court costs, medical expenses—even your rent!
Then, the need to pay back your funder depends entirely on your case’s outcome. If you win settlement money, you can easily repay your lender. Should your case fail to deliver a settlement, you don’t need to pay back a dime. In fact, that’s exactly what “non-recourse” means. If you don’t get paid, you don’t need to repay.
One of the best parts about litigation funding is that it’s a personal injury cash advance with quick results. Many funding firms can give you an answer in as little as 24 hours—that means you don’t need to spend weeks wondering whether you’ll be able to afford rent.
Access to Justice
Too many people suffer through the American justice system. In the past, if you didn’t have the means to pay for a lawyer, you could never hope to beat a big company in court. Litigation funding changed all that. Now, regardless of your financial status, you can access justice in America.
Now that you’ve had non-recourse litigation funding explained, you understand how much it can help you without risking your finances. Contact a reputable pre-settlement funding firm like Apogee Capital Partners today.