What Is Non-Recourse Legal Funding?
A lawsuit can serve as a financial remedy for your damages. The problem? When money’s tight, waiting for the settlement from a lawsuit can be difficult.
Just because you’re going through a lawsuit for the damages you sustained doesn’t mean you won’t have bills in the meantime. If you’re looking for a solution to economic troubles during a lawsuit, Las Vegas legal funding could be the right option for you.
Understanding Non-Recourse Legal Funding
Non-recourse legal funding is not a loan, despite the fact that is commonly referred to as such. On the contrary, non-recourse legal funding is a sort of cash advance that can only be paid back to the lender as a part of your future settlement.
With non-recourse legal funding, you receive the money you need now to continue paying your day-to-day expenses. You will never be liable for monthly payments or compound interest. Instead, if approved for Las Vegas pre settlement legal funding, your lender will simply receive a predetermined amount of your final settlement.
Non-recourse legal funding can be contrasted with a traditional loan, for which you will have to make payments regardless of the outcome of your case.
Who Is Eligible for a Pre Settlement Loan?
It’s important to understand that, though your credit history or financial circumstances will not be a factor, your legal claim will be examined to determine whether you are eligible.
In order to approve a lawsuit loan, a lender must believe with a fair degree of confidence that your case will allow you to recuperate damages. In order to do this, the lender will work with your attorney to investigate and understand your case.
If approved, you will receive the cash you need to pay outstanding medical bills, rent, and other basic expenses. Having this money can also help to negotiate a higher settlement, as you will be less likely to be lowballed by the at-fault party’s insurance company if you have the flexibility to wait.
What Happens If I Lose?
Perhaps the most enticing factor in non-recourse legal funding, you will pay nothing unless you win. Taking on a traditional loan means you will have to return the money you receive no matter what. On the other hand, non-recourse Las Vegas legal funding gives you the peace of mind that comes with knowing that you will not be held liable should your case fail.
Find Out Whether Las Vegas Legal Funding Is Right for You
Non-recourse legal funding will not only give you an advantage when it comes to negotiating your settlement with the insurance company, it will also allow you to cover your costs while you wait for your claim to be finalized. Money First Lending in Las Vegas is the worry-free legal funding solution for your case.
Ready to discover what non-recourse legal funding could mean for your financial situation? Reach out today by calling 702-623-3333 to schedule a consultation.