Apply for Legal Funding in Kent, MI
Are you involved in a car accident caused by another person’s negligence? If so, you may have sustained some damages and injuries. This may have led to taking time off work and other challenges. This is where lawsuit loans come in. Unlike traditional loans, lawsuit loans are non-recourse.
Therefore, you take no risks in borrowing money; you just take it to form your future settlement. You’re just cashing in early due to financial constraints. Applying for a lawsuit loan can help you get immediate funds before your case settles. Call us today at (866) 407-6404 to get settlement funding in Kent, Michigan.
Cases We fund for Settlement Funding
High Rise Financial offers pre settlement loans for several cases. Some of the most cases that plaintiffs have are the following:
- Car accident lawsuits
- Slip and Fall
- Medical Malpractice
However, pre-settlement loans are also available for sexual abuse, workers’ compensation, wrongful death, employment disputes, pedestrian knockdown, labor law violations, and more.
If your case falls in any of those mentioned, you are eligible for a settlement loan. You can call us if you’re unsure whether your claim is accepted.
How Much Your Case is Worth
It’s critical to know how much your case is worth if you want to have a rough estimate of how much legal funding can give you. Utmost, lawsuit loans are about 10-20% of your settlement amount.
Michigan operates a modified comparative fault principle. Courts use this to reduce the compensation and economic damages that victims get based on the victim’s fault. If the at-fault driver was 80% responsible and you were 20% responsible, the jury takes off 20% of the settlement award.
Settlement loan firms then decide the amount of money you can borrow based on the compensation you can get.
Lawsuit Loans Even With Bad Credit
Unlike personal loans and cash advances, pre settlement funding is solely based on the strength of your case. Therefore, there’s no payment plan or structure to follow. The presettlement funding firm won’t do credit history checks, employment checks, or anything else.
Settlement loan applications are evaluated based on these core criteria:
- The solidity of the case. The case must be straightforward. Negligence should be apparent, and there are reliable witnesses to support the claim.
- How long your case has been going on. High Rise Financial offers lawsuit loan for ongoing cases and settled cases. Sometimes, insurance companies take a long time to release the compensation checks. Plaintiffs may need to get pre settlement funding to get by until the check is deposited or delivered.
- How quickly a lawsuit loan company gets the information they need. High Rise Financial has a team of lawsuit loan specialists. They evaluate the case and reach out to lawyers for information about the case. Your legal representatives must submit the needed documents to get your legal funding application going.
Settlement Loans Alternatives
One of the downsides of settlement loans is enormous interest rates. Furthermore, it may take multiple pre settlement funding applications before getting approved. Thankfully, there are other alternatives to lawsuit loans you can check out.
A personal loan is always another option instead of a settlement loan. People consider it the first alternative when things aren’t looking well financially. However, getting a bank loan is a long process, and there are several checks that you need to go through. After all these checks, you may still not get approved.
Borrowing From Family and Friends
Another alternative to settlement loans is borrowing from family and friends. Some of your family members may not even ask for interest and just want their money back at a scheduled time. It makes borrowing less burdensome.
The downside is that if you don’t win the case, you still need to pay back what you borrowed. You may not be financially capable of doing so. This could strain your relationship with your family or friends.
With settlement loans, you can cash in from your future compensation. Lawsuit funding firms allow you to do that without burdening you whether you win or lose the case. Since it’s a non-recourse loan, you’re not obligated to pay the presettlement funding firm back.
Risk-Free Lawsuit Loan with High Rise Financial
Our firm has been a reputable name in the legal funding business. We’ve helped hundreds of plaintiffs fight the fairground, get better compensation, and alleviate their financial stress. Be a part of our growing family too. Check out the lawsuit funding options and see how we can help you.