While "lawsuit loan" is the term commonly used to describe non-recourse advances against the expected proceeds of a lawsuit, lawsuit loans are really not loans. In fact, lawsuit loans are very different from any type of conventional loan. Here are just a few differences between lawsuit loans and conventional bank loans.

Lawsuit Loan			Bank Loan
•	Relatively easy to qualify for a lawsuit loan		•	More difficult than ever to qualify for a bank loan
•	No credit check		•	Bank will check you credit and is looking for a high credit score.
•	No proof of employment		•	Bank will need to verify your employment.
•	No application fees or any other up-front charges		•	Bank may charge an application or processing fee.
•	No monthly payments while your lawsuit works its way through the legal system.		•	You will have to start making monthly payments immediately!
•	A lawsuit loan is repaid from the proceeds of your lawsuit.		•	Your loan is repaid by you over the term of the loan in monthly installments.
•	Should you lose, you keep the money, and you owe the lawsuit loan company nothing!		•	Should you lose, you still owe the money and must make the payments, or the bank will act aggressively to collect the money it is owed!
•	Lawsuit loans are more expensive than bank loans.		•	If you qualify, a bank loan will be cheaper than a lawsuit loan.