Families that are part of litigation sometimes run out of money. They exhaust all known resources in their network, and all they have left is their lawsuit. We don’t think they should be taken advantage of by an unregulated industry.
The Bairs Foundation provides low-cost access to capital so families have the resources to go the distance with their lawsuit. Low, simple interest in the name of the Seventh Amendment.
WHAT IS A NON-RECOURSE ADVANCE?
In contrast to recourse advance companies, which can continue to collect debt even after they’ve taken a person’s collateral, non-recourse companies do not hold borrowers personally liable. However, interest rates from for-profit, non-recourse companies can be as much as 50 to 100 percent per year. This is how they justify those exorbitant interest rates: if you lose your case, they lose their money.
The current non-recourse industry exists because companies recognize monetary advances are an absolute necessity when people in litigation need money. But sometimes, the case has matured and the settlement recovery amount becomes less than the advance amount with interest. Bills keep piling up, sticking families with no recovery and a huge debt.