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Pre-settlement funding - How it works?

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Is it true that pre settlement funded loans are not liable to be paid back?


Answers

Homing Pigeon

Pre settlement funding is not exactly a loan. It is only awarded to people who are in a settlement litigation. This is a non-recourse loan in that you cannot  be held accountable if you fail to pay the money when you lose your litigation. To obtain this, you may have to approach the pre settlement company through your lawyer and they may offer you money only after determining the likelihood of you repaying the money.



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