Michigan Commercial Vehicle Accident 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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What Are Commercial Vehicle Accident Loans in Michigan
Commercial vehicle accident loans are a type of pre-settlement funding specifically designed for plaintiffs involved in Michigan-based commercial vehicle accidents. Before we dive deeper into the specifics of these loans, it’s critical to understand the concept of a car accident loan.
A car accident loan is an advance a plaintiff can receive on their future settlement. Mostly used by plaintiffs who have been injured in a car accident and are in the process of legal claim resolution. These funds are meant to support plaintiffs financially until they receive their lawsuit settlement payout.
Car accident loans, like the ones provided by LawsuitLoans.io, are non-recourse. This means that the loan is purely contingent on the outcome of your case. If you win your case, you pay the loan back out of your settlement. However, if for some reason you lose, you’re not obligated to repay anything. Formulating it differently, you only repay when and if you win your lawsuit.
For those struggling with financial strain following a commercial vehicle accident in Michigan, such loans can support your daily living costs and medical bills while your legal case is ongoing.
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.
Key Information About Car Accident Loans in Michigan
Here we provide essential data regarding car accident loans in Michigan. This can be a lifeline for those awaiting the resolution of a personal injury claim. As one of the services that LawsuitLoans.io offers, these loans exist to alleviate financial pressure before reaching a settlement.
| Average car accident loan amount by LawsuitLoans.io in Michigan | $14,827.50 |
| Largest car accident loan by LawsuitLoans.io in Michigan | $100,700.00 |
| Average interest rate in Michigan | 21.0% |
| 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. |
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.
Am I Eligible for a Commercial Vehicle Accident Loan in Michigan?
Your eligibility for a commercial vehicle accident loan largely depends on two main criteria. The first and foremost requirement is that your legal case should involve a high insurance policy or self-insured entity. This means that every claim from the accident involves a substantial coverage policy.
The second vital requirement is the use of contingency-based legal aid. In other words, your hired attorney agrees to get their payment only after winning or settling the case. This is an important point as it gives assurance to the funding company about the potential return of the advanced funds.
Last but not least, you must be at least 18 years old to apply for a lawsuit loan. While this may seem trivial, it is nonetheless an essential legality. So, if you fulfil these criteria, you may very well be eligible for a commercial vehicle accident loan in Michigan.
Get up to $500,000 With Rates as Low as 2.5% Simple, Monthly
How Much Money Can I Get From my Commercial Vehicle Accident Pre-settlement Loan?
LawsuitLoans.io offers pre-settlement lawsuit loans ranging from $500 to over $1,000,000. The exact amount you can receive will depend on multiple factors like your case’s value and the stage your case is at.
While your case is still in progress, we can advance up to a maximum of 25% of your expected share of the settlement. Once your case has settled, we are able to offer up to 50% of your anticipated portion. Let’s consider an example to understand this better.
Imagine you are a plaintiff in Michigan who was involved in a commercial vehicle accident and your claim has an estimated value of $500,000. The case is yet to settle and will not be resolved for some time. In general, medical providers get paid around one-third of the settlement and the attorney recieves another third. This leaves you with the remaining third, or about $170,000.
With LawsuitLoans.io, we can provide you with an advance of approximately 25% of your expected portion or, in this case, $42,500.
Get Started
Apply today and get funds in as little as 24 hours!
What Types of Commercial Vehicles are Frequently Involved in Cases we Fund in Michigan?
At LawsuitLoans.io, we regularly fund cases that involve a variety of commercial vehicles. Below are some of the common types of commercial vehicles in Michigan and a brief description of each:
- Delivery Trucks: These can range from small vans to large 18-wheelers that deliver goods across Michigan.
- Taxis and Rideshare Vehicles: Taxis, Uber, and Lyft vehicles fall under this category. They are commercial because they’re used to transport people for profit.
- Company Cars: Many businesses provide vehicles for their employees to use. These are commercial vehicles when used for business purposes.
- Construction Vehicles: Construction vehicles, such as cement mixers or excavators, can cause catastrophic accidents due to their size and weight.
- Buses: City buses, school buses, and charter buses all fall under this category. They can pose significant risks due to their large size and passenger capacity.
At LawsuitLoans.io, we fund lawsuits involving all of these types of vehicles. In fact, we fund cases nationwide that involve any type of commercially or privately used vehicle. If you’ve been injured in a car accident and need financial help while waiting for your lawsuit to resolve, reach out to us at LawsuitLoans.io or by calling us at (800) 340-4973.
Roadway Accident Cases we Fund in Michigan
At LawsuitLoans.io, we offer funding for almost any type of roadway accident case in Michigan. Here are some of the cases we support:
- Bicycle Accident Loans: We provide funds as you pursue your legal claim following a bicycle accident.
- Car Accident Loans: Recovering after a car accident can be overwhelming. We can help ease the burden with our loan services.
- Commercial Vehicle Accident Loans: If you’ve been involved in a commercial vehicle accident, we have funding options for you.
- Semi Truck Accident Loans: Accidents involving semi-trucks often carry long legal processes. We can provide financial assistance during this time.
- Government Vehicle Accident Loans: We also cater to those involved in accidents with government vehicles.
- Motorcycle Accident Loans: Motorcycle accidents can lead to personal injury claims. We are here to help you through the financial strain while you wait for your case to resolve.
- Pedestrian Accident Loans: We offer funding services for those injured as pedestrians in roadway accidents.
- Rideshare Accident Loans: If you are involved in a rideshare accident, we can provide the funds you need as your legal case unfolds.
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:
Other 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: