Michigan Commercial Vehicle Accident Loans
- Get Cash As Soon As Today
- Rates As Low As 2.5% Simple, Monthly
- Repay $0 If You Lose
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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 up to $500,000 with rates as low as 2.5% simple, monthly
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 an Instant Quote
Input your requested funding amount and the time your case may take to settle here to see your savings and cost when you choose LawsuitLoans.io. While we sometimes offer interest rates as low as 2.5%, our calculator assumes an interest rate of 2.9%. This calculator is illustrative – please contact us for an instant, written quote for your request.
Months Until Settlement:
Pay as little as $2,631 on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Save as much as $1,697 on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Save as much as 39% on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Commercial Vehicle Accident Loan Process in Michigan
When you’re injured in an accident involving a commercial vehicle, getting the funds you need while waiting for your case to resolve can be challenging. At LawsuitLoans.io, we aim to simplify this process and help you receive your necessary funds swiftly. Here’s a brief overview of how commercial vehicle accident loans work:
- Online Application: Start by submitting your application online via our simple form.
- We Contact Your Law Firm: Once you have submitted your application, we reach out to your law firm to collect essential information about your case.
- Case Review: Our seasoned team of case reviewers delve into the details of your case.
- Contract Signing: After we’ve evaluated and approved your case, you’ll receive a contract to sign.
- You Get Funds: Once the contract is signed, we disburse the funds to your account.
Now, let’s walk through an example. Imagine a plaintiff named John who was injured in a commercial vehicle accident. He’s dealing with extensive medical bills and living expenses while his case is in progress. To help cope with this financial strain, John applies for a loan from LawsuitLoans.io.
After John submits his online application on our website, we contact his legal firm to gather information like the incident details, injuries sustained, and other relevant data. Our team reviews his case thoroughly and determines the amount he’s eligible for, based on the expected outcome of his case.
Once we approve his loan, we send John a contract to sign. After he signs and returns the contract, we promptly transfer the loan amount to his account. Now, John can use this money to manage his living expenses and medical bills while he waits for his case to resolve.
Remember, you don’t have to face financial hardship alone while you wait for your case to close. LawsuitLoans.io is here to help!
Apply today and get funds as soon as the same day you apply!
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.
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 (866) 594-1343.
Get $500 – $100,000 as soon as today
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 day you apply with us.
Major Cities we Serve in Michigan
At LawsuitLoans.io, we provide pre-settlement funding for plaintiffs in all cities across Michigan. We strive to assist all those in need and waiting for their legal cases to resolve. Find below the top 10 cities by population that we serve in Michigan:
- Grand Rapids
- Sterling Heights
- Ann Arbor
Even if your city is not listed above, feel free to contact us. LawsuitLoans.io serves clients residing anywhere within Michigan and nationwide. For more information on how we can support you with our services, kindly visit our website at LawsuitLoans.io or call us toll-free at (866) 594-1343. To apply directly, please use our funding application.
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 up to $500,000 with rates as low as 2.5% simple, monthly
Michigan Commercial Vehicle Accident Funding FAQs
Here are some common questions Michigan residents have about commercial vehicle accident lawsuit loans:
How much does it cost to get a commercial vehicle accident lawsuit loan?
The cost of getting a commercial vehicle accident lawsuit loan can vary. Many factors, such as the specifics of your case and the estimated value of your lawsuit, affect the cost. Always discuss all costs upfront with your lender for clarity.
Do I qualify for a lawsuit loan on my commercial vehicle accident case?
Yes. Eligibility for a lawsuit loan depends on the merits and potential outcome of your legal case. If you’ve suffered losses due to a commercial vehicle accident in Michigan and are pursuing a claim, you may be eligible for a lawsuit loan.
Can you get a loan on a commercial vehicle accident settlement?
Yes. You can get a loan on a pending commercial vehicle accident settlement. This loan, also known as pre-settlement funding or a lawsuit loan, helps you manage finances while awaiting final settlement.