What does non-recourse mean?
Non-recourse means the advance is repaid only out of a recovery in your case. If you do not recover anything, you owe nothing — Get Lit Money cannot pursue you, your wages, your bank account, your home or your credit for the money. The one exception is fraud or a breach of the agreement on your side.
This is the feature that makes a pre-settlement advance different from a loan. A lender is owed money regardless of what happens; we are buying a portion of a settlement that may never exist.
The risk of losing the case sits with us, not with you. That is also why the cost is higher than a bank loan would be — the price reflects the fact that some of these advances are never repaid at all.
Non-recourse applies to every advance we make, pre-settlement and post-settlement, and it applies to the fees as well as the principal.
The exception is written into the agreement, and it is about honesty rather than outcome. If there is no recovery, or we are not repaid from one, because of fraud, misrepresentation or a breach of the agreement — giving false information, for example, or abandoning your case — you are personally responsible for the advance and the fees. Losing a case you pursued in good faith is never a breach.
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