Non-recourse loans are hard to come by. Lenders typically are hesitant to issue these types of loans due to the risk placed onto them should the loan default. Non-recourse loans benefit the person taking out the loan and offers flexibility and peace of mind. As long as you go to honest and trustworthy lenders, getting a non-recourse loan in Alpharetta can be an easy process if you’re in a difficult situation.
Obtaining a non-recourse loan is like having a contingency plan built right into it. Non-recourse loans make sure that you are not liable if you cannot completely repay the loan you receive. Non-recourse loans are available for mortgages, cars, and personal injury. Getting funding during your personal injury lawsuit helps you fight for your case longer and get a worthwhile settlement. For most injury cases, a non-recourse loan is the best option for funding because it allows a stress-free source of funds that can help carry financial burden while your case gets fought.
Silver Dollar Financial is honest and understanding with everything we do. Our team has years of experience and knowledge. We can answer any of your questions and give you the assistance you are looking for. We are driven by compassion and hear all cases brought to us, no matter how big or small. If you need a non-recourse loan or any other forms of pre-settlement funding, trust Silver Dollar Financial to get you the assistance you need. Our worry-free financing will help you as you recover and focus on winning your settlement. You are not alone. Call us 24 hours a day, seven days a week at (844) 871-0628.
Understanding Non-Recourse Loans
The IRS defines the main difference between a recourse and a non-recourse loan is that the lender cannot seek further repayment from the borrower if the loan defaults. You are not held liable for any amount of loss that may occur when the loan defaults. Because you are not liable, banks and other lending institutions will often make obtaining a non-recourse loan hard with very stringent requirements and interest rates.
This may seem a bit too much to take in, so here is an example of how a non-recourse loan benefits the borrower. If you take out a non-recourse mortgage and default on it, the bank will foreclose your home. If the home’s value has gone down and the bank cannot recuperate the loan’s full cost through the home’s sale, you are not liable for that loss. The bank cannot seek to obtain money from you to make up for any losses. The opposite is true for recourse loans. The lender will demand payment to make up for the loss via your income or other financial avenues.
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Benefits of Non-Recourse Loans
As evident through the example, a non-recourse loan is optimal for borrowers. The lender is at a disadvantage because if there are any losses or differences in the defaulted loan, they cannot recuperate. However, as the borrower, you are off the hook and do not have to pay for any loss.
Non-recourse personal injury loans take the benefits of non-recourse loans a step further by not requiring repayment if you lose or get a settlement less than what you originally anticipated. The funds you use to help you get through your case are yours to have, and you do not get punished for losing. Traditional non-recourse loans are hard to qualify for due to their strong credit and personal history requirements. Non-recourse personal injury loans are different because they do not rely on credit checks either.
Remember, defaulting on a loan or losing your settlement case is not beneficial to you at all. You should not think that defaulting on your loan or losing your settlement is the goal. The benefits of non-recourse loans are there just if things go wrong, not so that they can be misused. Defaulting on loans will negatively impact you. Non-recourse loans exist to help cover you in case you have issues repaying, but they do not negate the fact that you are still defaulting.
Get a Non-Recourse Loan in Alpharetta
If you are looking to get a non-recourse loan in Alpharetta, contact Silver Dollar Financial today. Our qualification process is simple, quick, and transparent. We will keep you and your legal team in the loop at all times. Silver Dollar Financial provides a multitude of funding options and various other financial services. We are not here to hijack your lawsuit. We are here to help you keep going and take financial strain away from an already stressful situation.
The benefits of non-recourse loans are great. You do not have to worry about harsh credit checks or other invasive financial examinations with us. All we will ask is for information about yourself, your case, and your legal team’s contact information. We will then review all of the information. If you are approved, you can receive up to $100,000 in as little as 24 hours. There are no strings attached, and you will be informed every step of the way.
Silver Dollar Financial was founded on the principles of responsibility, respect, and empowerment. The bedrock in which we lay our operations is based on those three fundamental ideals. Allow us to help you through hard times.
If you need pre-settlement funding or a non-recourse loan during your personal injury trial, please do not hesitate to call us at (844) 871-0628, and one of our lenders will help you get started.