Michigan Car 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
What Are Car Accident Loans in Michigan
A car accident loan is a financial tool designed for people involved in a car accident legal process. It’s a way to fund your everyday needs while you wait for your case to resolve. But don’t let the term ‘loan’ confuse you; it isn’t like your regular bank loans. These are non-recourse advances on a plaintiff’s future car accident settlement. This means, if you lose your case, you won’t have to pay it back.
Now, let’s picture a situation for a clearer understanding. Let’s say you are a plaintiff involved in a car accident in Michigan. Because of the accident, you have injuries and are forced to stay out of work. Unpaid bills start piling up and your savings are dwindling, causing emotional stress on top of physical pain. At this juncture, a car accident loan from LawsuitLoans.io can provide you the necessary funds to keep going until you receive your settlement.
During these challenging times, a car accident loan supports you financially allowing you to focus on recovery and the fight for a just settlement without worrying about immediate financial burdens.
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
In Michigan, car accident loans are often essential funds for plaintiffs who have filed a personal injury claim and need financial help until their case settles. These lawsuit loans, provided by LawsuitLoans.io, help plaintiffs deal with unexpected bills and maintain their usual standard of living while they await their legal case resolution.
| 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 up to $500,000 With Rates as Low as 2.5% Simple, Monthly
Am I Eligible for a Car Accident Loan in Michigan?
Welcome to LawsuitLoans.io. Are you a resident of Michigan involved in a car accident lawsuit? You may qualify for a pre-settlement car accident loan. But what criteria must you meet? Let’s take a look.
To be deemed eligible for a car accident lawsuit loan in Michigan, there are three primary conditions you must meet:
- You must have a valid legal claim against an insurance company or a self-insured company. That means you must be involved in a pending lawsuit with a legitimate basis for seeking damages.
- You must have an attorney representing you on a contingency basis. That is, your attorney only gets paid if you win or settle the lawsuit. This shows that your attorney believes strongly in your case and is a criterion we consider seriously at LawsuitLoans.io.
- The third criterion is age. You must be at least 18 years old to apply for a car accident lawsuit loan.
If you meet these three conditions, you may very well be eligible for a car accident loan in Michigan through LawsuitLoans.io
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.
Car Accident Loan Process in Michigan
We at LawsuitLoans.io strive to assist plaintiffs going through challenging legal situations. We will illustrate here how our car accident loan process works, specifically in the state of Michigan.
The process is straightforward and involves five major steps:
- Apply online: Visit LawsuitLoans.io Funding Application to start the process.
- We contact your law firm: After you’ve successfully submitted your application, we’ll get in touch with your law firm to gather necessary information about your case.
- We review your case: Our team assesses your case, taking into account potential settlement amount and your chances of winning.
- You sign a contract: Once we approve your case for funding, we’ll send you a contract that outlines the terms of the loan. After you sign the contract, it becomes legally binding.
- You get funds: After signing the contract, the funds should be transferred to your bank account within 24-48 hours.
To exemplify this process, let’s consider a plaintiff named John. John was in a severe car accident in Michigan and now needs the financial support to make ends meet while his legal case is being resolved. He found out about LawsuitLoans.io and applied for a loan online. Our team reached out to his law firm, reviewed his case, and approved him for funding. Shortly after, he signed the contract we sent him and got the funds transferred to his account. So, despite the unfortunate accident, John now has the financial support he needs while awaiting his lawsuit’s resolution.
Get Started
Apply today and get funds in as little as 24 hours!
Roadway Accident Cases we Fund in Michigan
We at LawsuitLoans.io provide funding for nearly every type of roadway accident that happens in Michigan. Here is a short list of the primary accident cases we fund, complete with short descriptions:
- Bicycle Accident Loans: Provides pre-settlement funding for those injured while riding bicycles.
- Car Accident Loans: Offering funding to victims of automotive incidents while they wait for their cases to settle.
- Commercial Vehicle Accident Loans: Assistance for individuals involved in accidents with commercial vehicles.
- Government Vehicle Accident Loans: Support for those who have been hit by government-operated vehicles.
- Motorcycle Accident Loans: Funding available for victims of motorcycle accidents awaiting settlement.
- Pedestrian Accident Loans: Financial assistance for pedestrians who have been hit by vehicles and are awaiting settlement.
- Rideshare Accident Loans: Loans for those involved in accidents with rideshare services such as Uber or Lyft.
- Semi-Truck Accident Loans: Offering financial assistance to victims of semi-truck collisions who are awaiting their case to be settled.
How Much Money Can I Get From my Car Accident Pre-settlement Loan?
Lawsuit loans from LawsuitLoans.io can range from $500 – $1,000,000+. We are capable of advancing up to a maximum of 25% of your expected portion of the settlement if your case is still in progress. For cases that have already reached a settlement, we are able to offer 50% of your anticipated share of the settlement.
Let’s consider an example where a plaintiff from Michigan has a car accident case with an estimated value of $50,000. Assuming the case is still under progress and will not be settled for some time, the money gets divided among different parties. In general terms, medical providers get paid around 1/3 of the settlement, and the attorney also receives around 1/3 of the settlement. So, the plaintiff would be looking to receive approximately $17,000. In this scenario, we are capable of advancing about 25% of that amount, which equals to $4,250.
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.
Major Cities we Serve in Michigan
LawsuitLoans.io is proud to offer services to residents across the United States, and we pay particular attention to the communities of Michigan. Representing a broad mix of urban and suburban atmospheres, the top ten cities in Michigan by population are as follows:
- Detroit
- Grand Rapids
- Warren
- Sterling Heights
- Ann Arbor
- Lansing
- Flint
- Dearborn
- Livonia
- Westland
No matter where you’re located, whether it’s within these major cities or elsewhere, LawsuitLoans.io is dedicated to providing funding for residents across Michigan and nationwide during your personal injury or legal claim proceedings. Our goal is to help alleviate the financial pressure while you are waiting for your case to resolve.
For more information, visit our website at LawsuitLoans.io, or call us toll free at (800) 340-4973. You can also submit an application directly on our website at LawsuitLoans.io funding application.
Michigan Car Accident Funding FAQs
Questions about car accident lawsuit financing? This FAQ section offers clear, concise answers for Michigan residents. We tackle some of the most frequently asked questions to help you understand how lawsuit loans work.
1. How much does it cost to get a car accident lawsuit loan?
Our pricing model is simple and easy to understand. Initially, there will be no out-of-pocket expenses to worry about. We only get paid when your lawsuit settles. The actual costs can vary – we calculate this based on the risks associated with each individual case. To get personalized information, please contact us directly or apply online at LawsuitLoans.io funding application.
2. Do I qualify for a lawsuit loan on my car accident case?
Requirements for lawsuit loans are straightforward. You need to have an active lawsuit and be represented by an attorney. We evaluate each application on a case-by-case basis. The strength of your case is one factor that can influence approval. Visit our application page at LawsuitLoans.io funding application to quickly find out if you qualify.
3. Can you get a loan on a car accident settlement?
Definitely! You can get a pre-settlement funding from us while you wait for your case to settle. This financial aid can help to cover living expenses and focus on recovery. To start the process, simply fill out the application on our website: LawsuitLoans.io funding application.
Get up to $500,000 With Rates as Low as 2.5% Simple, Monthly
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:
Get Started
Apply today and get funds in as little as 24 hours!