Unfortunately, not all legal battles end in victory. If you lose your case after availing of pre-settlement funding, you’re typically not responsible for repaying the funding company. The non-recourse nature of the funding means you’re not personally liable for the advance.
Can You Be Held Personally Liable for Repaying Pre-Settlement Funding?
As mentioned earlier, the non-recourse feature of pre-settlement funding prevents you from being personally liable for repayment if you lose your case. The funding company bears the risk in such situations and does not have the right to pursue your personal assets for repayment.
Can You Take Out Pre-Settlement Funding Again if You Lose Your Case?
If you’ve lost a case after availing of pre-settlement funding, you might wonder if you can obtain funding again for a new lawsuit. In most cases, you can apply for pre-settlement funding again, provided you have a new case that meets the funding company’s criteria.
Weighing the Risks and Benefits of Pre-Settlement Funding
Pre-settlement funding can be a valuable resource for plaintiffs facing financial difficulties during ongoing litigation.
Balancing the risks and benefits, however, is essential prior to making a choice. While the non-recourse nature protects you from personal liability if you lose, the potentially high fees and charges can impact your final settlement amount significantly. You can choose wisely by speaking with your lawyer and comprehending the details of the funding arrangement.
Ready to secure your financial future during ongoing litigation? Avoid letting the costs of legal action impede you from moving forward.
Get peace of mind with pre-settlement funding from Tribeca Lawsuit Loans. Apply now and receive the financial assistance you need to fight for justice without worrying about repayment if you lose. Take the first step towards financial stability by calling us at 866-388-2288 or via our secure form.