Michigan Legal Funding
Fast Pre-Settlement Loans in Michigan
Do you live in Michigan and have an upcoming personal injury lawsuit?
Nova Legal Funding can provide 24 hour financial support for anyone facing a lengthy court battle in the state of Michigan. The time spent fighting a legal battle can impact your ability to continue with your job, and render you unable to pay bills, your rent or mortgage, and any other day-to-day expenses.
Personal injury cases can get complicated, and the legal process in Michigan sometimes leaves you waiting for many months before you see any repayment. This is in part because insurance companies are getting wise to the urgency of the situation, and can sometimes slow the process down. This can often leave people accepting a reduced settlement sooner, knowing they can’t afford to wait for the full compensation they are owed.
People will opt to apply for pre-settlement loan in Michigan as a way to financially tide themselves over while they wait for the compensation they deserve. Nova Legal Funding can provide a no win no fee cash advance, so if you lose your case, you don’t owe us anything.
You can apply for lawsuit funding with us at any time during the legal process, giving you the time and flexibility you need to get the full settlement that you deserve.
Michigan Lawsuit Loan Requirements
To apply for pre-settlement funding in the state of Michigan, you simply need your name, phone number, and your attorney’s contact information.
- No Credit Necessary – Your credit history will not be inspected by a Nova Legal Funding specialist.
- Hassle-Free Application – The bulk of your application process will take place between Nova Legal Funding and your attorney.
- Risk-Free Cash – You are only required to pay back the funds if you win a settlement. If you lose the lawsuit, you will owe nothing to Nova Legal Funding.
Laws and Regulations of Lawsuit Funding in Michigan
Important Michigan Legal Information
|Avg. Funding per case from Nova Legal Funding||$4,102
Nova can fund anywhere from $500 up to $2,500,000 depending on case value.
|Fault Laws||Modified Comparative Fault – 51% Bar
Plaintiff’s recovery may be reduced by percentage of loss attributable to him, and at 51% fault, plaintiff’s economic damages are reduced and non-economic damages are barred. M.C.L.A. § 600.2959.
|Statute of Limitations||3 years Chapter 600, Act 236, Ch. 58, Sec. 600.5805, number 9|
|Minimum policy limits for bodily injury & property damage||$20,000 bodily injury liability per person
$40,000 bodily injury liability per accident
$10,000 property damage liability per accident
Personal injury protection (unlimited)
$1 million property protection
|Minimum UIM auto insurance limits||Liability: 20/40/10
PIP: Medical and work loss
|Workers compensation eligibility||Not Eligible|
Since checks are sent to both attorney and plaintiff for their fees and payments respectively, Nova Legal Funding is unable to guarantee a lien against an attorney’s trust account. Consequently, workers compensation cases are not eligible to receive any pre-settlement funding. We also do not provide lawsuit loans for soft tissue damage cases.
Nova Legal Funding can provide secondary funding on a case for which applicants have already applied for financial support. However, this must be disclosed in advance so we can organise repayment of the lien.
Michigan Personal Injury Law: How Does it Affect Legal Funding?
Unlike many states, Michigan personal injury cases operate under a three-year statute of limitations before you are ineligible to file a lawsuit. Most frequently, this time period begins on the date of the accident itself. However, if you only discover that you have been seriously injured later, this time period can often begin on the day your injuries are diagnosed. If the claim is against the government agency in the state of Michigan, this time period is cut down to just six months.
Michigan law follows the modified comparative fault doctrine, meaning that if the court finds the plaintiff responsible for any part of the accident leading to their injuries, the damages will be lowered relative to their level of responsibility. If they are found to be more than half responsible, they will be deemed ineligible for any financial compensation for their injuries.
There are no caps on economic damages for personal injury lawsuits in Michigan. However, non-economic damages, which are harder to put a cash value on, are capped at $445,500 for medical malpractice cases, and $795,500 for cases which result in death or severe disability.
Notable Personal Injury Lawyers in Michigan
There are a huge number of experienced personal injury lawyers operating in Michigan who would be delighted to take on your case:
Angelle M. Rothis
20750 Mack Avenue, Grosse Pointe Woods, MI 48236
William Payne Webster
6100 Stadium Drive, Suite 2, Kalamazoo, MI 49009
909 N Washington Ave, Lansing, MI 48906
Kelly M. Neumann Esq.
250 Monroe Ave NW #400, Grand Rapids, MI 49503
717 S Grand Traverse St, Suite 2, Flint, MI 48502
Daniel T. Geherin
760 W Eisenhower Parkway #305, Ann Arbor, MI 48103
Car Accident and Fatality Statistics in Michigan
Michigan has some of the highest rates of car accidents in the country, with 939 fatal crashes leading to 1,030 deaths in 2017. A small majority of these (51%) involved more than one vehicle, and 57% of all vehicular deaths in Michigan were caused in part by alcohol-impaired drivers.
However, despite a rise in BAC-content amongst drivers, the overall rate of crashes is on a decline, and the number of injuries in 2017, when the most recent statistics were reported, was 78,394.
Nova Legal Funding provides pre-settlement loans for a number of different types of traffic accident cases, including:
- Pedestrian accident
- Car accident
- Tractor trailer accident (truck accident)
- Bus accident
- Bicycle accident
- Motorcycle accident
At Nova Legal Funding, we have the skills and experience to take charge of all lawsuit funding in Michigan. Get in touch with our team today for a free case evaluation, and for more information about the benefits of a Michigan lawsuit loan.
How do I know if I qualify for lawsuit funding in Michigan?
Any personal injuries caused by another person or entity automatically qualify for lawsuit funding. As a general rule, if your accident occurred within Michigan and you sustained significant injuries, you automatically qualify for a free and quick application.
Is it a lawsuit loan or cash advance?
Although often referred to as a lawsuit loan, the funding is actually an advance against your eventual lawsuit settlement. Importantly, the cash advance is considered non-recourse. This means that if you lose your case, there is no requirement to pay back the money. We only collect if you win your case or obtain a settlement.
Does it matter how I spend the lawsuit funding?
Lawsuit funding is available to help those who need financial support during an ongoing personal lawsuit injury. However, there is no restriction on how you spend your lawsuit cash advance. Some of our plaintiffs in Michigan used their money to pay off debts, cover their mortgage or rent payments, afford medical bills or simply to help with daily living expenses.
Apply For Lawsuit Funding in Michigan Now
At Nova Legal Funding, we have the skills and experience to take charge of all lawsuit funding in Michigan. Our funding specialists are on hand 24/7 to serve personal injury plaintiffs. Get in touch with our team today for a free case evaluation, and for more information about the benefits of a Michigan lawsuit loan.