Columbus Non-Recourse Loans
After a personal injury in Columbus, you can pursue compensation for your damages. However, it can take months or years to get your settlement. If you’re considering a loan to cover your costs, a Columbus non-recourse loan is best.
Non-recourse loans are ideal for personal injury victims. Below, we’ll cover how they can benefit you. At Silver Dollar Financial, we provide only non-recourse loans, so you don’t have to pay us back until you win your case. If you don’t win, you don’t pay us back.
To apply for non-recourse funding, click Apply Now above or call us at (844) 871-0628 today.
What to Know About Non-Recourse Loans in Columbus
When you get a loan, it’s either recourse or non-recourse. Recourse loans are the most common, and they’re also the riskiest.
With a traditional loan, you put down a type of collateral. Collateral is something that acts as security for the lender. Examples of collateral include:
- Real estate property
- Personal property
If the borrower cannot pay back the loan, the lender can take the collateral. However, with recourse loans, the lender can come after more if the collateral isn’t enough. This situation is risky for the borrower, especially if their condition is uncertain.
Non-recourse loans do not allow the lender to take more than the collateral. If the collateral does not cover the full loan amount, the lender accepts the loss. The borrower does not have to worry about losing anything else.
With pre-settlement funding, it’s even better for the borrower. Your settlement acts as the collateral. Plus, if you don’t end up winning a settlement, you don’t have to pay anything back. Non-recourse pre-settlement funds are very convenient and low-risk for the borrower.
Borrowing from Yourself
Pre-settlement funding is also not really a loan. It’s more like taking a cash advance from yourself. You’re getting a portion of your settlement amount sooner so that you can cover your costs.
The Pre-Settlement Non-Recourse Loan Process
At Silver Dollar Financial, we know it’s helpful to know what to expect. Here’s how the pre-settlement funding process works:
- You provide details about your injury case and pending settlement.
- We evaluate your application to see if your case is strong. If you have a good chance of winning your settlement, you’re more likely to qualify.
- You don’t have to put down anything to receive the funds. Your pending settlement is the “collateral.”
- If we approve your application, you’ll receive your funds directly.
- Whenever you win your settlement, you pay us back what you borrowed — and you keep the rest!
Sometimes, a case does not go as planned. We understand this, and that’s why you don’t pay us back if you end up losing your case.
Use Your Funding to Cover Damages or Other Expenses
After a personal injury accident, you will have personal injury damages. Thankfully, Georgia law is on your side. If you did not cause the accident, you can seek compensation from the at-fault party (Georgia Code § 51-1-6).
Your damages might include:
- Doctor bills
- Hospital bills
- Prescription medication costs
- Lost wages
- Property damage
Some of these expenses cannot wait for a settlement. For example, you might need money to pay for costly medical treatment. If your injuries prevent you from working, you might need cash to cover your lost wages.
Besides accident costs, you also have essential living expenses like:
- Rent or mortgage payments
- Utility bills
- Food and grocery costs
A non-recourse loan will help you with any of the above. Once approved, the funding is yours to use as needed. With Silver Dollar Financial, you can receive up to $100,000 based on your pending settlement.
Non-Recourse Funding Helps You Pursue a Higher Settlement
Besides covering immediate costs, pre-settlement funding also acts as a bargaining tool. Paying for your urgent costs makes it easier to focus on pursuing a higher settlement.
To seek compensation, you’ll file a claim with the at-fault party’s insurance company. Unfortunately, insurance companies know what they’re doing. The insurer will try to get you to accept a lower settlement than you deserve.
If you have immediate costs, you’ll feel pressure to settle sooner. However, funding can cover you enough to “wait out” a better settlement offer. The insurance company won’t be able to hold your costs over you.
Types of Non-Recourse Settlement Loans
At Silver Dollar Financial, we provide the following non-recourse loans:
- Pre-settlement funding
- Structured settlement loans
- Medical funding
Most of our clients seek pre-settlement loans to cover expenses while they wait for compensation. However, some come to us after they’ve already accepted a structured settlement.
With structured settlement funding, we provide a portion of your total settlement. You pay us back as the smaller payments trickle in.
With medical funding, we pay for your medical bills directly. Then, you pay us back when you get your settlement. With each type of funding, the conditions are the same: If you don’t win a settlement, you don’t pay us back.
What You Need to Apply for Columbus Pre-Settlement Funding
Applying for funding is quick and easy. We use a three-step process.
1. Apply Online Now
Click the Apply Now button above to get started. We’ll ask you for some essential information like:
- First and last name
- Contact information
- Lawyer’s information
- State of residence
- Type of injury case
- How much funding you need
Since this is not a traditional loan, we do not use your credit score to determine if you qualify.
2. We Review Everything
Our team of financial gurus will look over your application. We’ll contact your lawyer to discuss the details. Many times, clients hear back within 24 hours of applying.
3. We Send You the Money
We’ll let you know if you’ve approved as soon as possible. After approval, we send you the money you need directly. It’s yours to use as needed.
You don’t have to pay us back until your case resolves. If you win compensation, you pay us what we funded — and you keep the rest.
Apply for the Columbus Non-Recourse Loan You Need Today
Our team at Silver Dollar Financial cares about making life more comfortable after an injury accident. We believe no one should have to struggle with finances while waiting for their compensation.
To apply for your non-recourse funding today, click Apply Now above. You can also call us at (844) 871-0628 with any questions.