Michigan Lawsuit Loans
- Get Cash as Soon as the Same Business Day
- Rates as Low as 2.5% Simple, Monthly
- Repay $0 if You Lose Your Case
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Important Michigan Lawsuit Loan Information
In Michigan, lawsuit loans offer a valuable lifeline for plaintiffs who are waiting for their cases to resolve. The table below provides some key figures about the lawsuit loans in Michigan.
| Average loan amount by LawsuitLoans.io in Michigan | $14,419.51 |
| Largest loan by LawsuitLoans.io in Michigan | $100,700.00 |
| Average semi-annual rate in Michigan | 20.6% |
| Median personal injury verdict in Michigan | $99,506.00 |
| Michigan statute of limitations | 3 Years; Michigan Comp. Laws Section 600.5801 |
| Michigan fault laws | Michigan is a “no-fault” state, meaning your own insurance covers your losses regardless of who caused the accident. |
How Lawsuit Loans Work
Here’s how the lawsuit loan process works in three easy steps. The entire process can be completed within 24 hours with your attorney’s help.
Apply Online or Call Toll-Free
Apply online or call us toll-free at (866) 594-1343. Submitting your application takes minutes.
We Review Your Case
Next, we contact your law firm and collect basic information to review your case. Review only takes a few hours.
You Receive Funds
You and your attorney review and sign our funding contract. Once complete, you can have funds within hours.
How Much Money Can I Get From my Lawsuit Loan?
The amount of money you can get from a lawsuit loan on LawsuitLoans.io can vary significantly. It can be as low as $500 to over $1,000,000. The specific amount largely depends on the state of your legal case. If your case is still in progress, we can provide up to 25% of what you’re expected to receive from the settlement. Conversely, if your case has already been settled, we can offer up to 50% of your expected proceeds.
To give you an example, let’s consider a plaintiff from Michigan involved in a car accident case estimated at a value of $100,000. Assume this case is still ongoing and won’t settle for a while. In most cases like these, medical providers typically get about a third of the settlement, the attorney also gets a different third, leaving about $33,000 for the plaintiff. Given these circumstances, we will be able to advance approximately 25% of that final amount, which translates to about $8,250.
Get an Instant Quote
Input your requested funding amount and the time your case may take to settle here to see your potential savings and costs when you choose LawsuitLoans.io. While we sometimes offer rates as low as 2.5%, our calculator assumes a simple, non-compounding monthly rate of 3.3%. This calculator is for illustrative purposes only. Actual terms may differ. Please contact us for an instant, written quote for your request.
Advance Amount:
Months Until Settlement:
$2,900
Total Cost
Pay $2,900 on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
$1,697
Your Savings
Save $1,428 compared to competitors on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
33%
Percent Savings
Save 33% on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Common Case Types We Fund in Michigan
At LawsuitLoans.io, we fund several types of cases in Michigan. Here’s a quick rundown of the most common cases we finance:
Auto and Other Roadway Accidents
We aid plaintiffs involved in car, truck, motorcycle, and other vehicle accidents. Funds can help cover medical bills and other expenses while your case is pending.
Premises Liability
If you’ve suffered an injury due to a property owner’s negligence, we can provide funding while your case is ongoing.
Medical Malpractice
Malpractice victims who are pursuing a lawsuit against healthcare professionals and institutions can qualify for our funding services.
Labor Law Claims
We can provide funding to workers who have legal claims related to employment conditions, compensation, or violations of labor laws.
Employment Claims
Employees subjected to wrongful termination, harassment, discrimination, or other workplace abuses can apply for funds to support them during their legal battle.
Other Personal Injury Claims
We also fund other types of personal injury claims, supporting plaintiffs with financial assistance during challenging times.
To learn more about how we can assist you with these types of legal claims in Michigan, visit our Michigan Personal Injury Loans or Michigan Car Accident Loans pages.
Get up to $500,000 With Rates as Low as 2.5% Simple, Monthly
Am I Eligible for a Lawsuit Loan in Michigan?
If you’re asking the question, “Am I eligible for a lawsuit loan?” You’re not alone. Many people wonder if they qualify for these forms of financial help. For residents of Michigan specifically, there are requirements that must be met to be eligible.
The primary eligibility criteria include having a valid legal claim against an insurance company, a self-insured company, or a large public entity. Meaning, you should be a plaintiff in an ongoing legal battle with any of these entities. This is important because the nature of a lawsuit loan is to provide you with help while you wait for your legal case to resolve.
Furthermore, you must have an attorney representing your case. Having a lawyer not only signifies the seriousness of your legal dispute but also demonstrates your commitment to winning the lawsuit. The attorney will provide crucial information and recommendations about your lawsuit, which is vital in the funding approval process.
Finally, being 18 years old or older is also a necessary criterion. These rules follow standard legal practice in Michigan and most places where only adults can enter into binding contracts such as lawsuit loans.
In conclusion, if you stick to these three basic requirements: an on-going lawsuit against an insured party, a practicing attorney, and be at least 18 years, you are likely eligible for a lawsuit loan in Michigan.
Get Started
Apply today and get funds in as little as 24 hours!
What Can I Use the Money From My Lawsuit Loan For?
If you have applied for a lawsuit loan through LawsuitLoans.io and received pre-settlement funds, you might be asking this question: What can I use the money for? The answer is relatively simple. Plaintiffs like you can use these funds for a variety of your needs and expenses.
Firstly, you can use the loan to cover living expenses. For many people going through legal action, it’s not uncommon for regular income to plummet. You might need some financial help to pay for everyday items like groceries, rent or mortgage payments, utility bills, car payments, and so on.
Secondly, medical expenses are another area that your lawsuit loan can support. If you were involved in a personal injury case, chances are you have ongoing medical expenses. This could range from consultation fees with specialist doctors, costs of medical equipment, physiotherapy sessions, to necessary medications. Your legal funding can be a lifesaver in managing these extensive costs.
However, there is one vital area where you cannot use the lawsuit loan – litigation or legal case expenses. Simply put, the funds from LawsuitLoans.io cannot directly fund your attorney’s fees or other associated court costs. But despite this exception, as you can see, a lawsuit loan can go a long way in helping you maintain your financial security during trying times.
Michigan Pre-Settlement Funding FAQs
In this section, common questions regarding pre-settlement funding from Michigan residents are answered. We aim to provide straightforward information for potential plaintiffs seeking additional financial assistance through lawsuit loans.
How much does it cost to get a lawsuit loan?
The cost of a lawsuit loan can vary widely depending on several factors such as the strength of your case, and the expected outcome. To get an accurate estimate for your specific case, we suggest visiting our online application at LawsuitLoans.io funding application.
Do I qualify for a lawsuit loan?
To qualify for a lawsuit loan, the plaintiff must have legal representation and a strong enough case that the lender believes will lead to a favorable settlement or verdict. For more detailed information, consult our website at LawsuitLoans.io or call us toll free at (800) 340-4973.
How much funding can I get?
The amount of funding you can receive largely depends on the estimated value of your lawsuit. A general range could be anywhere from \$500 to \$1,000,000, however, each case is unique and the exact amount will depend on the specifics of your case.
Get $500 – $500,000 in as Little as a Single Business Day!
We understand that if you’re applying for funding with us, you needed the funding yesterday. With your attorney’s cooperation, we can provide funding as soon as the same business day.
Cities we Service in Michigan
LawsuitLoans.io provides funding throughout Michigan. See more about our funding in Michigan by visiting the city pages below:
Cases we Fund in Michigan
LawsuitLoans.io provides funding for various personal injury and roadway accident cases in Michigan. Read more about the personal injury cases we fund in Michigan here:
- Personal Injury Loans
- Police Misconduct Lawsuit Loans
- Medical Malpractice Lawsuit Loans
- Slip and Fall Lawsuit Loans
- Premises Liability Loans
- Dog Bite Lawsuit Loans
- Wrongful Death Loans
Read more about the roadway accident claims we fund in Michigan here: