When another party’s negligence or misconduct is the cause of your damages or injuries, filing an insurance claim or bringing them to court is a great way to recover your damages in their entirety. However, while you continue to struggle financially, you will need to figure out how you are going to stay afloat while …
Non-recourse loans provide the borrower with an added measure of protection. When the loan defaults or other issues arise, non-recourse loans prevent the lender from using the borrower’s other assets such as their income to make up for any loss that may have occurred. Non-recourse loans are an attractive option for many borrowers because it …
When choosing a recourse or a non-recourse loan, both have their uses and their pros and cons. Recourse loans are typically easier to qualify for because they are less strict on their requirements to obtain. Non-recourse loans are not as easy to procure but typically provide added protections to the borrower. Differences between recourse and …
There are two types of loans: recourse and non-recourse. A recourse loan holds the borrower personally responsible, while a non-recourse loan does not. If you received a loan from a company, there are ways to know if you have a non-recourse loan. If you have a non-recourse loan, the lender cannot come after more than …
Non-recourse loans should be low-risk for the person borrowing money. But there are situations where a non-recourse loan can become a recourse loan. Let’s look at what this means and how you can avoid it. At Silver Dollar Financial, our pre-settlement funding is non-recourse because you don’t pay us back if you don’t win a …
All loans and associated debt are split into two categories: recourse and non-recourse. The Internal Revenue (IRS) explains that recourse loans allow the lender to extract the full value of the loan or debt from the borrower even after the lender seizes any collateral associated with the loan. In other words, recourse loans hold the …
