Settlement Funding and Lending Resources in Michigan

What Is a Car Accident Injury Loan?

Have you been left with painful injuries, mounting medical bills, and lost income because of a serious car accident in Michigan? If you haven’t already, it’s in your best interest to file a personal injury claim to get the compensation you deserve.

But what if you need some of that compensation sooner rather than later? After all, waiting for a case to settle can take a long time. Particularly if you end up with a lengthy litigation process.

Fortunately, there is a way to get pre-settlement funding through a car accident injury loan in Michigan. Doing so can help lighten your financial load while you wait for your case to settle.

The Way a Car Accident Injury Loan Works

You’re not alone in needing a way to bridge the financial gap between your accident and receiving the compensation you need to cover your injuries. A car accident injury loan provides just that. It’s a cash advance against your expected personal injury lawsuit settlement.

The amount of funding you might receive will depend on the type and severity of your injury, evidence supporting your claim, and other circumstances surrounding the accident. In general, most applicants can get around 10% of their expected settlement amount – and within 24 days of being approved.

The money you recover from a car accident injury loan can be used to cover your medical costs, monthly bills, or other expenses that loom while your claim is in progress. And unlike a traditional bank loan or a personal loan, you’re not required proof of assets or employment status. And you won’t be subject to a credit check. You don’t even need a good credit score.

That’s because a car accident injury loan in Michigan is a non-recourse loan. That means the only way the funding company gets paid is through your settlement or award when you win. And if you lose, you won’t be required to pay back the loan.

How to Get a Car Accident Injury Loan and Who Qualifies

Getting a car accident injury loan in Michigan is pretty straightforward. There are two requirements.

First, you must be the victim of a car crash with a pending legal claim. And second, you must be represented by an attorney because the loan money will come from your car accident lawsuit winnings.

If you meet these requirements, you can start the application process by going to the funding company’s website. You’ll need to provide basic information about yourself, the specifics of your accident and injuries, and your attorney. The funding provider will review your case and speak with your lawyer to determine whether you qualify and the amount of funding for which you may be eligible.

Upon approval, a respected funding provider like Motor City Legal Funding will transfer the funds to you through wire, check, or other disbursement method. Then you’ll be able to keep creditors off your back by paying mounting expenses. Even though the loan specifies ‘injury’, the money can be used to cover medical bills, rent/mortgage, utilities, groceries, car payments, or any other relevant expense.

It should be noted, however, that you cannot use the funds to cover any legal costs and expenses.

Other Advantages Over Seeking a Traditional Loan

Of course, you could go with a more traditional loan while waiting for your settlement. But you’ll be required to provide a lot of information to be approved. Plus, it will likely take longer for you to receive funds.

In addition, a funding provider of a car accident injury loan will likely use simple interest rates versus the compound interest you may be charged through the bank with a traditional loan. If your case drags on for a while, you could end up paying far more than expected.

Perhaps one of the biggest benefits of a car accident injury loan over a traditional loan is the fact that you don’t have to pay back the former if you lose your case. The same is not true for a traditional loan. And that could leave you deep in debt and possibly facing bankruptcy.

Don’t Let a Car Accident Injury Financially Destroy You

While you’re waiting for your case to settle, you can find some financial peace of mind by applying for a car accident injury loan through a trusted fund provider.

Motor City Legal Funding has a stellar reputation as one of the most reputable pre-settlement funding companies among attorneys and clients throughout Michigan.

So contact us today, or call (248) 792-8833 for a free case evaluation from one of our highly experienced team members. And let us go over your case to get you the financial help you deserve.

Pre-Settlement Funding for Personal Injury Lawsuits

Personal injury cases can take months to even years to reach a settlement depending on the case and, once reached, a settlement can take additional months to be paid out. In some cases, defense attorneys and insurance companies try to stall the case and delay payment in the hopes that mounting financial pressure – from medical bills to daily expenses – forces you to accept a lower settlement offer than what you truly deserve.

Pre- settlement personal injury funding allows you to manage your bills and expenses while giving your attorney the time they need to fight your case and get you the best settlement possible.

Types of Cases That Qualify for Pre-Settlement Funding

Pre- settlement funding in Michigan is based on the expected size of your settlement and determined by the type of case and the details of your specific case. It allows you to borrow against your expected settlement so there’s no cost to you upfront and no recourse – if you don’t win your case, you aren’t expected to pay back your advance. If you have questions about whether your case qualifies for pre- settlement funding, contact our team at Motor City Legal Funding.

The primary factor determining your eligibility for pre- settlement funding from a lawsuit funding company in Michigan is the strength of your case. If you’re able to clearly prove liability on the part of another party, you could qualify for immediate pre- settlement funding with a lower interest rate. Your current credit score and employment status won’t affect your ability to qualify for pre- settlement funding, but to qualify you must be 18 years of age or older, have filed a personal injury lawsuit, and be represented by an attorney.

Some types of personal injury lawsuits that qualify for pre- settlement funding are:

Car Accidents: Those who have been injured in a car accident and have a lawsuit can get pre- settlement funding for medical bills, property damage, or lost wages.

Workers Compensation: Pre- settlement funds for those who have filed a workers compensation claim for being hurt on the job can cover medical expenses and lost wages.

Medical Malpractice: For individuals who have suffered medical malpractice and negligence, pre- settlement funds can cover medical bills and related expenses and lost wages.

Wrongful Death: For the families of individuals who are pursuing a wrongful death lawsuit for the death of a loved one, pre- settlement funds can cover funeral expenses, lost wages, and other related expenses.

Sexual Abuse: Pre-settlement funds for victims of sexual abuse can be used to cover the cost of therapies and related expenses and lost wages.

Police Misconduct: For individuals who have injuries related to police brutality or misconduct, pre- settlement funds from a lawsuit funding company can pay medical bills and cover lost wages and related expenses.

Nursing Home Negligence: Pre- settlement funds for individuals and families who are victims of nursing home negligence or abuse can cover the cost of relocation and related expenses and medical bills.

Traumatic Brain Injury or Spinal Cord Injury: Victims of another party’s negligence leading to traumatic brain or spinal cord injury can receive pre- settlement funds from a lawsuit funding company to cover the cost of treatment, medical bills, therapies, lost wages, and other related expenses.

Wrongful Imprisonment: Pre- settlement funds can cover legal expenses, lost wages, and other related costs for those who have been wrongfully imprisoned and are pursuing a lawsuit.

Civil Rights Violations: Individuals who have a lawsuit for a violation of their civil rights can receive pre- settlement funding to help pay legal expenses and related costs and lost wages.

What Expenses Can Be Paid With Pre-Settlement Funding?

Personal injury lawsuit funding, or pre- settlement funding, can be used to help you manage your daily living expenses and cover lost wages while you wait for your settlement. It allows you to resist financial pressure to settle for a lower settlement amount, and can be used for:

Medical expenses
Rent or mortgage payments
Utility bills, groceries, and other living expenses
Car payments
Childcare
Credit card bills or debt

Motor City Legal Funding

Motor City Legal Funding is a Michigan based lawsuit funding company dedicated to helping our clients through their financial struggles while their cases reach settlement.

To see if your case qualifies for pre- settlement funding or to get started today, contact Motor City Legal Funding or call 248-792-8833.

The Top Reasons to Consider Pre-Settlement Legal Funding

What is Pre-Settlement Funding?

Pre-settlement legal funding provides cash to a client in advance for a personal injury lawsuit. No monthly payments or up-front fees are required. Funding is determined on factors such as the strength of the case and repayment of the loan is only required if the client wins their case.

Typically, pre-settlement funding is sought by a person who is facing financial hardship because their injury from an accident has left them unable to work and generate income for their bills and living expenses.

How Does Pre-Settlement Legal Funding Work?

There are four main stages of pre-settlement litigation funding. They are:

The application. Prior to the application, a client should discuss with their attorney whether pre-settlement funding is the best option for their case. If so, our intake process involves collecting relevant information about your, your case, financial situation, and more.
The case evaluation. During this phase, we work with your attorney to evaluate the strength of your case and if it meets the necessary criteria for lending from Motor City Legal Funding.
Loan approval or disapproval. Following the case evaluation, a loan for your lawsuit is either approved or disapproved. A status update is shared with you and the reason for the decision.
Disbursement of funds. If the loan is approved, funds are dispersed to an account for you to access and use.

The Types of Legal Cases That Can Qualify for Pre-Settlement Funding

Specific types of personal injury and accident cases qualify for pre-settlement funding from Motor City Legal Funding. The case types are:

Motor Vehicle Accidents
Slip and Fall Accidents
Pedestrian Accident
Wrongful Death
Workplace Negligence
General Negligence

The Top Reasons to Use Pre-Settlement Litigation Funding

The settlement timelines for personal injury cases are very unique and vary widely. Thus, those who have been injured and are unable to work require the type of assistance that comes from pre-settlement litigation funding. Some of the top reasons include:

The client seeks financial relief from bills and other expenses.
Having funds available takes the pressure off the client to settle their case early and perhaps at a lesser amount.
It replaces lost income if the client has been injured and is unable to work.
There is absolutely no risk for the client. The loan only needs to be paid back if they win their personal injury case.
Pre-settlement litigation funding is quite often faster for the client than seeking a loan from tradition lending sources.

Get The Help You Need Today

Motor City Legal Funding has a stellar reputation for being one of the most trusted pre-settlement funding companies by attorneys and clients throughout Michigan. Contact us today or call (248) 792-8833 for a free case evaluation from one of our team members and let us get the financial help you need.

Top Benefits of Choosing Motor City Legal Funding

Find out why thousands trust Motor City Legal Funding for pre-settlement loans. Quick approvals, no credit checks, and pay only if you win!

In addition to our strong reputation for pre-settlement legal funding in metro Detroit, there are some very important reasons to explore using this type of option when you are suffering from accident injuries and facing all the normal bills in life.

Why Use Pre-Settlement Legal Funding

It provides financial relief from the pressures of medical bills, daily living costs, wage loss and much more.
It helps to keep you out of debt and flirting with the possibility of bankruptcy if you are struggling to pay your bills.
It takes the pressure off you to settle your accident case at a lower amount that what it should.
It takes the pressure of you and your attorney and lets you and your legal team focus on the case.
It’s fast access to funds versus other lending methods which may require stringent background checks, documentation, credit checks, and more.

Contact Us For Help Today

If you are in a situation where you are waiting for your accident injury case to settle and you need cash, contact Motor City Legal Funding for help by calling (248) 792-8833 today.