Is a Lawsuit Cash Advance a Loan?
Have you been wondering, is a lawsuit cash advance a loan? Find out why it’s not in this educational video. Call today for a free consultation.
Is a lawsuit cash advance a loan?
A man is driving down the street, not paying attention, and runs into the person in front of him who happens to be stopped at a red light. That person calls us and asks for a cash advance and wants to know the difference between a cash advance and a loan. A cash advance, or pre-settlement funding, on a case like his is not considered a loan. The reason being is that it is a non-recourse advance, which means that if for some reason the case loses, we cannot go after that person for the funds that they received from us. In the case of a loan, like a bank loan for a mortgage or a car, they repossess your assets if you don’t make your payments.
Are you or a loved one involved in a personal injury lawsuit and want to know if a lawsuit cash advance is the same thing as a loan? Contact us for a free consultation or apply for lawsuit funding online.
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