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At High Rise Financial, we make it easy to get Michigan legal funding for personal injury lawsuits. Our team can teach you about our pre-settlement loan options. To get started, reach out to us.
- Michigan Personal Injury Lawsuit
- Personal Injury Claims Process
- How Michigan Lawsuit Funding for Personal Injury Cases Works
- Benefits of Legal Funding in Personal Injury Cases
- Michigan Lawsuit Funding Application Process
- Legal Funding Cost
- How Much Time You Have to Pay Back a Lawsuit Loan
- Submit Your Request for a Legal Loan in Michigan
Michigan Personal Injury Lawsuit
There is no such thing as a one-size-fits-all injury lawsuit. There are many reasons why people submit injury claims. These include:
- Bus accident
- Car accident
- Motorcycle accident
- Medical malpractice
- Product defect
- Rideshare accident
- Slip and fall accident
Per Michigan Compiled Laws §600.5805, you may have up to three years from the date you suffer an injury to seek damages from an at-fault party. You may ask for economic and non-economic damages from this party. Economic compensation may be provided for medical bills and other quantifiable losses, while non-economic damages may be awarded for pain and suffering.
Personal Injury Claims Process
You may be able to get compensation from your own insurance company, even if someone else causes your injury. For example, Michigan is a no-fault insurance state. If you get hurt in an auto accident caused by someone else, your insurer may cover all of your losses.
Your own insurance policy may not offer sufficient coverage to cover the costs of your injury. You or an at-fault party may not have any insurance protection. In either of these scenarios and many others, you may want to move forward with an injury lawsuit.
With help from a personal injury attorney, you may be able to pursue the most damages possible from an at-fault party. Your lawyer may help you prove this party was negligent. Also, they may help you request legal funding in Michigan for your injury lawsuit.
How Michigan Lawsuit Funding for Personal Injury Cases Works
You can pursue Michigan car accident pre-settlement loans and other types of legal funding. To do so, you must first hire an attorney. Then, your lawyer will represent you throughout your injury case and handle communications with your pre-settlement funding company.
With lawsuit funding, what you get is based on your injury case. A legal loan company examines the strength of your case. It provides you with a personalized loan quote based on this information.
High Rise Financial offers risk-free legal funding in Michigan. Our team can go over your lawsuit loan options with you and help you get pre-settlement funding that meets your expectations. For more information, get in touch with us.
Benefits of Legal Funding in Personal Injury Cases
You may be forced to miss work due to your injury. On top of this, your bills may add up quickly in the days and weeks after you suffer your injury. If you are not careful, you risk financial ruin.
If you are in the red financially, you may be tempted to accept any settlement offer you get from the party responsible for your injury. By accepting a settlement proposal, you may inadvertently cost yourself money. Because if you approve a settlement for far less than what your case is worth, you may wind up paying some or most of your injury-related costs out of your own pocket.
Thanks to legal funding, you can receive money without compromising your injury case. Your lawyer can help you figure out how much you should ask for in a personal injury settlement. Meanwhile, they can walk you through the legal loan process and help you secure funding you can use for the duration of your case.
Michigan Lawsuit Funding Application Process
If you want to apply for legal funding today, you can do just that. You may complete the application process over the phone or online. It may take just minutes to submit your application.
While you may have to undergo a credit check and provide details about your income when you request a personal loan, you do not have to share this information with a legal loan company. You can provide your contact information and insights into your injury case. Next, your lawsuit funding provider will let you know how much money it can give you.
You may qualify for a legal loan of up to $100,000. If you accept a lawsuit funding quote, you may get your money right away. From here, you may use your money however you decide.
Legal Funding Cost
You may wonder if it costs anything to apply for a non-recourse loan. There are no fees you will have to pay to submit a legal loan application. A lawsuit funding company is upfront about the cost of your loan, including its interest rate.
With a lawsuit loan, your interest rate is included in your quote. Your pre-settlement funding provider can answer any questions you have about this rate. It wants to make sure you know how this rate works before you finalize your loan request.
There are no monthly payments required with legal loans. Along with this, you are only required to pay back your lawsuit funding if you win or settle your case. In a situation where you do not receive any compensation, you keep 100% of your loan amount.
How Much Time You Have to Pay Back a Lawsuit Loan
It may take months or years before you find out if you are awarded damages in your injury case. Regardless, there is no time frame for paying back your lawsuit loan. Your attorney keeps in contact with your legal loan provider and shares updates about your case.
You may be unsure about how the repayment process works with legal loans. Your attorney can handle this process for you. If you win or settle your case, your lawyer deducts what you owe your legal funding company from your compensation, pays the business, and gives you the remainder of your settlement.
In the worst-case scenario, you may not get any damages in your injury case. If this occurs, your lawyer will notify your lawsuit funding company. You have nothing to worry about, as your legal loan provider will clear your balance and allow you to keep the money you already received.
Submit Your Request for a Legal Loan in Michigan
High Rise Financial makes it simple to get a lawsuit loan. Our team can guide you through the lawsuit funding application process. To learn more or request a pre-settlement loan, contact us today.