Our pre-settlement funding isn’t a loan. It is a non-recourse cash advance. Traditional loans require repayment regardless of outcome. Pre-settlement funding requires repayment only if you win.
Pegasus Legal Capital provides Rhode Island personal injury pre-settlement funding with true non-recourse terms that protect you from financial risk during litigation. Bills don’t wait—and neither should you.
Understanding what non-recourse funding actually means legally helps you make informed decisions about financing your recovery. Here is what you need to know about our pre-settlement funding for Rhode Island construction accidents.
What Non-Recourse Funding Actually Means Legally
When you take a personal loan, you sign a promissory note creating personal liability. The lender can pursue you, your wages, your assets, and your credit if you don’t repay. That obligation exists regardless of why you needed the loan or what happens afterward.
Pre-settlement funding works differently. You’re not borrowing money with a promise to repay. You’re selling a portion of your future settlement proceeds. Rhode Island pre-settlement funding companies like Pegasus Legal Capital purchase a share of your expected recovery. If that recovery never materializes, we have no claim against you personally.
This distinction has major legal and financial consequences:
- Personal liability: Traditional loans create personal liability that could create bankruptcy, wage garnishment, and asset seizure. Non-recourse funding creates no personal liability. If your case loses, we can’t pursue you for repayment. We can’t garnish wages. We can’t place liens on assets. We can’t damage your credit. You simply owe nothing.
- Recourse rights: Traditional lenders have recourse—legal remedies to collect unpaid debt. They can sue you, obtain judgments, and enforce collection through court orders. Non-recourse funders have no such rights. Our only source of repayment is your settlement. If there’s no settlement, there’s no repayment.
- Risk allocation: Traditional loans place all risk on you—the borrower must repay regardless of circumstances. Non-recourse funding places risk on us—we only collect if your case succeeds. This aligns our interests with yours. We want you to win your case.
- Credit reporting: Traditional loans appear on credit reports. Missed payments damage credit scores. Collections and defaults destroy credit for years. Non-recourse funding doesn’t appear on credit reports because it’s not debt. There are no monthly payments to miss. Your credit remains unaffected regardless of the case outcome.
- Bankruptcy treatment: Traditional loans are dischargeable debts in bankruptcy. Non-recourse funding isn’t debt, so bankruptcy proceedings don’t affect it. This distinction matters if your financial situation deteriorates during lengthy litigation.
The term “lawsuit loan” misleads people into thinking pre-settlement funding operates like traditional lending. It doesn’t. State regulators, courts, and financial institutions increasingly recognize this distinction and treat pre-settlement funding as investment rather than lending.
Schedule your free consultation today with a construction accident lawyer serving Rhode Island, 855-386-3968
Pre-Settlement Funding vs. Traditional Loans
Understanding the differences between pre-settlement funding and traditional loans helps you evaluate which option serves your needs during construction accident recovery. Here’s a comprehensive comparison:
Qualification
Traditional loans require credit checks, employment verification, income documentation, debt-to-income calculations, and often collateral. Your credit score, employment status, and existing debt determine approval.
Pre-settlement funding requires none of these. We evaluate your case strength—liability evidence, injury severity, and expected settlement value. Your personal financial situation is irrelevant.
Timelines
Approval timeline: Traditional loans take 1-4 weeks for approval, sometimes longer. Application processing, credit verification, employment confirmation, and underwriting each add delays.
Our pre-settlement funding delivers decisions in 4-6 hours after speaking with your attorney using our technology-enabled case analysis. Once approved, we can give you funds within 24-48 hours in most cases.
Repayment
Traditional loans require monthly payments starting 30 days after funding. These payments continue for years regardless of your financial situation or case status. Miss a payment, and late fees accumulate while credit damage begins.
Pre-settlement funding requires zero monthly payments. Repayment happens once—when your case settles. No payment schedule to track. No monthly financial pressure.
Risk
Traditional loans are risky. You must repay whether you win your case, lose your case, or drop your case. Your obligation exists independent of how your case turns out.
Pre-settlement funding creates zero personal risk. You only repay if you win. Lose your case? Owe nothing. Case gets dismissed? Owe nothing. Settlement comes in lower than expected? We adjust repayment to actual recovery.
Interest
Traditional loans charge interest that accrues daily and compounds monthly. A 12% APR personal loan costs you interest every single day you owe money.
Our Rhode Island pre-settlement funding for construction accidents uses a different model—we charge fees based on case duration and settlement outcome. There’s no daily accrual creating mounting pressure.
Work With Our Rhode Island Construction Accident Lawyers 855-386-3968
About Pegasus Legal Capital
Pegasus Legal Capital has provided true non-recourse pre-settlement funding since 2007. We’ve advanced over $500 million across 30,000 funding transactions, helping 15,000+ clients pursue their cases without personal financial risk. Our commitment to genuine non-recourse terms sets us apart in the legal funding industry.
We’re direct funders, not brokers, which means you work directly with the company providing your funding. We’re also members of the American Legal Finance Association (ALFA), which requires transparent disclosure and ethical business practices.
Our non-recourse funding includes:
- Zero personal liability—you never owe repayment from personal assets
- No credit checks—your case strength matters, not your credit history
- No monthly payments—repayment happens once, at settlement only
- No employment verification—your injury stopped your income, and we understand
- Complete risk protection—if you lose, you owe nothing under any circumstances
- $500 to $6 million available—based on your case’s expected settlement value
We serve construction accident victims throughout Rhode Island, from Providence and Warwick to Cranston and Pawtucket. We fund cases involving falls from heights, scaffolding collapses, equipment failures, electrocution injuries, struck-by accidents, caught-between incidents, and all other construction site injuries.
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Get Your Rhode Island Construction Accident Pre-Settlement Funding Today
Stop risking personal liability through traditional loans. Apply online today for true non–recourse pre-settlement funding with zero personal risk. We’ll evaluate your Rhode Island construction accident case, coordinate with your attorney, and provide a funding decision within 4-6 hours.
If your case doesn’t succeed, you owe nothing—guaranteed. No personal liability. No credit damage. No collections. No lawsuits. Nothing. If your case does succeed, we collect our fee from settlement proceeds only. Either way, you get immediate cash to cover expenses while your case proceeds toward maximum value.
Contact Pegasus Legal Capital today and discover how our Rhode Island construction accident pre-settlement funding protects both your immediate financial needs and your long-term financial security during construction accident litigation.
Your pre-settlement funding consultation is free — contact us today!