How Do I Get a Non-Recourse Loan?
The Internal Revenue Service (IRS) classified all debt as either recourse or non-recourse. Though that little prefix “non-” is small, its effect is enormous. Essentially, non-recourse loans protect the borrower from being relentlessly pursued for repayment in the event of a default, according to the Washington and Lee Law Review. A non-recourse loan is simply a form of credit that applies to many different situations. If you are an injured person waiting on your personal injury claim to resolve through negotiation or jury award, you can get a non-recourse loan from Silver Dollar Financial in as little as 24 hours. All you have to do is send us information about you, your case, the law firm representing you, and your financial need.
Silver Dollar Financial is dedicated to helping injured people relieve the stress and uncertainty that often comes with a serious injury. Our process is simple and transparent, and we offer online attorney portals so that we can work with your lawyer to secure the best possible outcome for you.
Our Lending Process
Silver Dollar Financial uses a three-step process that only requires one simple action from you: application. Below is a list of the whole process and its steps so that you can see how simple getting your money truly is.
Step One: Application
First, you click on our Apply Now page and enter your information. We typically need to know the details of your claim, your contact information, the law firm representing you, your financial need, and possibly additional details.
Step Two: Evaluation
The second step is all on us. Our financial experts will look at your application, verify the data, and check your eligibility for a loan. If necessary, we may request additional information, but some cases result in approval in just 24 hours from when you apply!
Step Three: Funding
Once you’re approved, that’s it. You can expect up to $100,000 to be deposited into your bank account as soon as possible.
What a Non-Recourse Loan Covers
Silver Dollar Financial offers non-recourse loans in the form of pre-settlement funding, structured settlement funding, and medical funding. While medical funding is used exclusively to pay for healthcare costs while your case settles, the other two loans are more flexible.
If you get a non-recourse loan before your case reaches a settlement or jury award, you can use that money to cover a host of expenses. Some of those include:
- Medical costs
- Installation of necessary medical equipment in your home
- Rent or mortgage payments
- Electricity bills
- Property replacement or repair bills
- Supplemental income for lost wages
Think of a pre-settlement loan as a way of reaching forward to your eventual settlement and pulling some of that money back to the here and now. Then, when your case resolves, you can pay back that pre-settlement loan out of your compensation package, keeping whatever is left.
Structured Settlement Funding
Since the passage of the Periodic Payment Settlement Act, so-called “structured settlements” have become increasingly popular. In such an arrangement, the at-fault party agrees to pay the required compensation in small installments rather than as one lump-sum. Unfortunately, this does more to protect the at-fault party than the injured person, as bills and medical expenses rarely wait for the slow flow of periodic payments to trickle in.
If you receive a structured settlement, you might consider getting a non-recourse structured settlement loan from Silver Dollar Financial. Essentially, we front you the money you truly deserve, up to $100,000, and you pay us back as the at-fault party deposits the structured payments. This method allows you more flexibility with the money that is rightfully yours since you don’t have to wait for a timeline that benefits the other party.
When Your Claim Goes Awry
Sometimes, your personal injury claim can end in a way that is not favorable to you. Getting a structured settlement is just one of those ways. The worst-case scenario is that you lose your case and wind up with no compensation from the at-fault party. If you have taken out a non-recourse loan from Silver Dollar Financial, you may worry about where this unfortunate situation leaves you.
The good news is that Silver Dollar Financial is not here to prey on injured people who have already suffered far more than they deserve. If you do not make a recovery in your case, you owe us nothing. Through this protective policy, we hope to encourage even the most loan-averse injured people to take advantage of pre-settlement funding and fight for the compensation they deserve.
Get a Non-Recourse Loan Today
Start the process of getting your non-recourse loan from Silver Dollar Financial today. Simply fill in your information on our Apply Now page, and our experts will take over from there. Get the money you deserve sooner rather than later, and take back control of your life!