Lending is a complicated industry that has many facets that are often misunderstood or esoteric to laypeople. The complex nature of the financial world can breed distrust and worry, but Silver Dollar Financial is dedicated to full transparency in our lending methods. A person involved in a significant personal injury claim negotiation process may need to seek a pre-settlement loan in order to relieve financial anxieties while the opposing side stalls. In these cases, the best option is a non-recourse loan.
The Internal Revenue Service describes non-recourse loans as financial arrangements designed to protect the borrower. While a “recourse loan” leaves a borrower personally liable for the value of the loan, non-recourse loans are usually backed by collateral. Once this collateral is expended (if the borrower defaults on the loan), the lender cannot pursue any other payment from the borrower. If you take out a recourse loan, the lender would be able to pursue the total value of the loan from you, personally. In a non-recourse loan, the collateral is all the lender can recover if you default on a payment, even if the collateral does not cover the full value of your original loan.
An Atlanta Non-Recourse Loan Can Help You Pursue Justice
After an accident that leaves you injured, you may have a viable personal injury claim to pursue against the person or organization responsible for your injury. According to the Official Code of Georgia Annotated §9-3-33, you have up to two years to file a personal injury claim against the at-fault party. But that doesn’t mean your case will resolve within two years.
Once your case has been filed, you and your attorney will negotiate a settlement with the opposing side. Unfortunately, the defendant and their insurance company often use stall tactics to prolong your case in the hopes that you become forced to settle for less than you deserve due to financial burdens. Some of those burdens or types of damages can include the following.
- Rising medical costs
- Lost wages due to injury
- Replacement costs for property damage like wrecked vehicles
- Food costs
Pre-Settlement Funding Is the Solution
The best way to combat these stalling techniques is to get pre-settlement funding from Silver Dollar Financial. Pre-settlement funding is a way for you to “borrow forward” from yourself, as the money we front you is repaid from your eventual settlement. This way, you can cover expenses during the negotiation process and pursue true justice in your case.
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Don’t Worry with a Non-Recourse Loan
Silver Dollar Financial provides you with a transparent, worry-free process for getting the money you need today. When you get a non-recourse loan, you will not be personally liable for defaulted payments. But our system goes one step further.
Paying Yourself Through Silver Dollar Financial
The idea behind our loans is that you pay yourself from your future settlement amount. Generally, you and your attorney know the value of your claim, and you can estimate the amount you will eventually receive as a settlement. That should give you a good idea of the money you have available, and you can get up to $100,000 of that money in as little as 24 hours after applying with us.
This means you don’t have to stress over where you will get the money to pay back your Atlanta non-recourse loan. It comes directly from your settlement!
When You Do Not Recover Compensation
Settlement offers and agreements are never certain, even in the most seemingly air-tight cases. If you and the opposing side cannot reach an arrangement, you and your attorney may decide to pursue the matter in court and let a judge or jury decide. Unfortunately, this means giving up some amount of control over the matter, as the trier of fact may end up siding with the defendant and denying you a settlement.
So what happens when you are unable to make a recovery after taking out a non-recourse loan from Silver Dollar Financial? Nothing! If you don’t recover compensation, you don’t have to pay us back. It’s that simple.
Get Money in as Little as 24 Hours
If you need pre-settlement funding, consider a non-recourse loan from Silver Dollar Financial. We reduce the risks to you and have a simple, three-step process that only requires you to fill out an application form. If all goes well, you can have up to $100,000 in your bank account within 24 hours.
To apply for your loan or get more information, call us today at (844) 871-0628.