Lawsuit loans can be quick and easy, but not everyone understands exactly what they are. Simply put, it’s a non-recourse loan given, with the promise to be repaid after the settlement is made or the case is won. With non-recourse loans, the plaintiff is not required to repay the loan if the lawsuit isn’t won.
If the settlement is smaller than expected, the repayment is adjusted to fit their share of the settlement. When you contact a legal funding company , the lender will obtain all details from your attorney to make a decision. Due to the loan not having to be paid back in the event of an unsuccessful outcome, they are considered advances as opposed to loans. If you’re considering a lawsuit loan, contact Fast Cash today and see if it’s a good fit for you.