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Are You Required to Repay a Non-Recourse Loan?

You are not required to repay a non-recourse loan if you lose your case. You are only required to repay a non-recourse loan if you settle or win your lawsuit. If you don’t win, you’ll never have to repay a penny of what Tribeca Capital advanced to you. 

Tribeca Capital Is Paid Only When You Win Your Lawsuit

Tribeca Capital will only be repaid out of the proceeds you receive if you settle your lawsuit or you obtain a judgment. If the worst happens and you don’t win your suit, you’ll never be required to pay back the money that Tribeca advances you. In fact, you will never have to pay Tribeca anything out-of-pocket. If you settle your case or win a judgment outright, Tribeca will be paid directly out of the proceeds of the settlement. The payment due Tribeca will be deducted from the settlement amount by your attorney so you will never have to worry about whether your agreement with Tribeca has been satisfied. 

Isn’t it a relief knowing that Tribeca Capital will not hound you to pay back your lawsuit loan if for some reason your case does not go the way you planned? And, when you settle or win your case, the money you borrowed from Tribeca will not be coming out of your pocket? You will be able to enjoy the lawsuit loan you receive from Tribeca and use it to pay whatever expenses you need to cover free of any concerns that you will have to somehow find the money to repay Tribeca if you lose your case.   

Your Lawsuit Loan Is Not a Traditional Loan

It is a bit of a misnomer to call the transaction with Tribeca a loan. In general, when you take out a loan and sign a promissory note, you agree to pay the loan back no matter what. When you enter an agreement with Tribeca, you know that Tribeca will be repaid the advances it provides you, but only out of any proceeds you get from the litigation. We call that a non-recourse loan. 

Borrowers often pledge collateral to secure their repayment of a traditional loan. If the borrower fails to repay the loan, the lender has the right to take possession of the property put up by the borrower, sell it, and apply the proceeds to the outstanding balance. If the proceeds do not cover what the borrower owes on the loan after applying the proceeds from the sale of repossessed collateral, the lender has the right to try to collect the remainder, also called the deficiency, from the borrower or in some cases the borrower’s other assets. Therefore, the lender is said to have recourse against the borrower. You can learn more about how traditional lending works at Forbes, the respected business news website.

How Lawsuit Lending Really Works

Lawsuit lending works differently. The transaction with Tribeca isn’t a traditional loan at all, and that works much better for you. When Tribeca enters the picture, instead of loaning you money, it is investing in your lawsuit. When you and your attorney decided to file your lawsuit, you certainly expected that you would either settle the case or you would have your day in court and win a judgment after a trial. Either way, you would get enough money to pay your medical bills and compensate you for the wrongs you suffered. Unfortunately, even though you have a good case, sometimes a case just does not come out the way we plan. No one can predict with 100% certainty that you will. There is always some amount of risk involved. When Tribeca advances you money on your lawsuit, it is sharing that risk with you. That means that if you do not get paid, Tribeca does not get paid either. That way, you will always know that Tribeca is there to back you up. 

Tribeca Capital is here to help lawsuit plaintiffs afford to prosecute their worthy litigation and stay free of the fear that the case will bankrupt them if they don’t prevail. Call Tribeca at (866) 388-2288 and tell us about your lawsuit or complete the simple application on this website. Give us a chance now to help make life a little easier.   

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