We are NOT able to represent you on the issue of whether borrowing the money is appropriate. Moreover, we recommend that you get separate and independent legal advice on whether you should sign the documents that the lender will present to you. It is critically important that you understand the terms and conditions of the loan.
A recent client wanted to borrow $5,000 from a willing lender. We wrote to him:
It will cost you $750 for each month that you fail to repay the $5,000 that you borrowed. If it took 12 months more to resolve your case successfully, you would owe the lender $14,000 ($5,000 you borrowed plus $9,000 in interest [$750/month x 12 months]). Of course, I cannot guarantee WHETHER your case will be resolved successfully and, if so, WHEN the case will be resolved.
In my view, the price you will be required to pay for the privilege of receiving the $5,000 is OUTRAGEOUS. The reason that the cost for the money is so high is that the lender is taking a risk.
If we go to trial and LOSE, you are NOT required to repay the $5,000 lent to you. Nor would you be responsible for paying the $750 for each month that you failed to repay the $5,000. Of course, you would be much better off if you could borrow the money from a family member or from a bank. I recognize that you are having financial problems, however, I want you to know that I STRONGLY RECOMMEND AGAINST DOING THIS.