Have you been dealing with a lawsuit in Michigan but are unsure if you should continue? Are you still planning to file a case for your injury or suffering?
Hiring a brilliant and cutthroat lawyer is a no-brainer. However, the inevitable costs are going to be high – but is it worth risking your entire life savings?
Now, the crucial question: how can you get the money to afford one without gambling your future security? That’s where we can help you. If you’re residing in Michigan and are having second thoughts about pursuing your case, say no more.
With legal funding, you’ll be able to deal with the expenses of your lawsuit without having to drain your bank accounts. In this article, we’ll discuss what legal funding is, the essential information you need to know, the applicable laws in Michigan and how it can be beneficial to your situation.
Understanding Michigan Legal Funding
Legal funding is a popular financial option right now for litigants, and it’s perfectly legal. Also known as pre-settlement funding, it’s essentially a cash advance provided to the person who was wronged or injured (plaintiff) so they can move forward with their legal action.
It provides individuals with funds that can be utilized to manage the expenses associated with the lawsuit. The funds can also be used to cover any other necessary expenses that may surface as your case progresses.
Moreover, you can also use the funds given to you to attend to certain needs, such as:
- Medical bills
- Daily necessities
- Personal health
- Tuition fees
Why Choose Tribeca Lawsuit Loans for Michigan Legal Funding?
Jury Verdict Research recently released a new study looking at Michigan’s average personal injury awards, which amounted to around $1 million. With that kind of life-changing settlement on the line, it’s best to put your faith in the best lawyers who can fiercely fight for your rights.
With legal funding, you can do all that and more. Here are some of the reasons why our clients keep coming back:
We Have Years Of Experience
For years, our team has been providing legal funding in Michigan and the rest of the states. We are a reputable and well-established company that has amassed the loyalty of returning clients.
We Offer Reliable Service
With each year, we continue to grow and improve our terms to reflect your best interest. It has always been our earnest commitment to top-notch service, and that’s why our clients keep coming back.
We Have Transparent Terms
We would never leave you in the dark. Here at Tribeca, we prioritize clear communication with all of our clients.
We know the heavy weight of entering a dubious transaction and the severe impact it can have on people’s lives.
We take our work very seriously. We provide potential clients with all the necessary information before signing an agreement with us.
We Are Dedicated and Collaborative Professionals
In line with our commitment to transparency is our dedication to collaborate with you – we’re not robots that you talk to on a screen. We sincerely want to help.
Our brilliant team of individuals has undergone rigorous training so they can be equipped to handle a wide range of cases.
We Listen To Your Specific Needs
Every case is unique, and we adjust accordingly. We also strive to do our best to actively support our clients to achieve a successful and harmonious relationship.
No problem is too complicated or too big for Tribeca. We’re here to listen.
The Tribeca Advantage: Setting Us Apart from Competitors
In Michigan, there are various companies that offer legal funding. However, with our long-standing experience and expertise, Tribeca Lawsuit Loans proves to stand out from all the other legal funding companies. We offer:
A Quick Approval Process
The process of settling a case can be long and arduous, but we know that our clients have urgent needs.
We value every minute of your time, so we make sure that you can complete our online application in just a few minutes. All you’ll have to do is wait for our funding decision as fast as 24 hours.
You might have heard cautionary tales about loan sharks and how they’d try to fool you with confusing contracts and unclear terms, but at Tribeca, we’ll answer all of your questions and address your hesitation.
We won’t leave you in the dark. We’ll ensure that you understand our terms before you sign anything.
Your repayment would depend on the amount you’ll win from your case. That’s why we offer low, competitive rates on legal funding, allowing you to keep the majority of your settlement.
How Michigan Legal Funding Works
Here at Tribeca Lawsuit Loans, we offer a quick and simple yet efficient legal funding process for our clients residing in Michigan. Below, you’ll find the step-by-step guide on how legal funding works in the state:
The first step is completing our application form. You can find our application form online, and it can be easily completed in just a few minutes.
Now, there are instances when clients refrain from submitting a lawsuit loan application due to financial issues, which is why we would like to make it clear that our application process does not involve credit checks, income verification and asset evaluations.
We also don’t charge any upfront fees, and you don’t need to worry about having to pay any hidden fees. Our application process is very quick, simple and straightforward.
Once we receive your application, our team of experts will review it. In evaluating your eligibility for the funding, our team will consider certain factors such as liability, damages and the likelihood of your case to settle successfully.
When your application has been approved, we’ll send you a contract detailing the terms and conditions of the funding. If you choose to accept the offer we give you, you may receive the funds as quickly as 24 hours.
Now, you might be curious regarding the repayment of funds. That matter will be better based solely on the settlement of your case.
If the judgment is granted in your favor, the funding, along with the other agreed-upon fees, will be repaid from the settlement you receive. To put it simply, if you don’t win, you won’t have to repay anything.
Eligibility Criteria for Michigan Legal Funding with Tribeca
While Tribeca is dedicated to providing help to individuals in need, there are certain eligibility criteria that we f
In determining whether you are eligible for the funding or not, our team of legal experts will evaluate the details of your case and examine it through our risk assessment process.
We will not consider certain factors related to your financial history, such as your credit score or income verification.
However, it is important to note that we require you to have an attorney. This is to ensure that both parties follow a just and fair process and that the involved parties are legally protected.
Legal Regulations and Considerations in Michigan
The Michigan Rules of Professional Conduct do not preclude a lawyer from financing litigation costs through a loan from a third-party lending institution, provided the lawyer discloses to the client:
- The terms and conditions of the loan;
- The client consents to a written contingent fee agreement;
- Upon conclusion, the client receives a written statement reflecting interest advanced by the lawyer and charged to the client as an expense in the matter; and
- The lawyer, but not the client, is the obligor on the loan.
Statutes Of Limitations
Michigan’s statutes of limitations prescribe how long a potential plaintiff has to file a civil case, ensuring that they won’t use the threat of a lawsuit as leverage indefinitely. Generally, the period is counted from the date of the offense.
These periods also ensure the integrity of evidence and testimony. Thus, a lawsuit should be filed within the following timelines:
- Injury To Person: 3 Years
- Libel Or Slander: 1 Year
- Fraud: 6 Years
- Injury to Personal Property: 3 Years
- Professional Malpractice: 2 Years
- Trespass: 6 Years
- Collection Of Rents: 6 Years
- Written Contracts: 6 Years
- Oral Contracts: 6 Years
- Collection of Debt on Account: 6 Years
- Judgments: 10 Years (Court of record); 6 Years (Court not of record)a
Frequently Asked Questions about Michigan Legal Funding
Do I Need To Repay You Back If I Lose My Case?
Absolutely not, and that’s the best thing about legal funding. Unlike traditional loans, legal funding is non-recourse. Our claim is attached to the judgment of your case.
This means that you are not obligated to repay the funding if you do not win or settle the case in your favor. We will not come after any of your properties nor call you every hour to collect the money. That’s the Tribeca guarantee.
Do I Have To Pay Any Upfront Fees Or Monthly Fees?
No. Legal funding does not require upfront fees, nor does it obligate clients to pay any monthly fees. The funding is also non-recourse and will only be repaid if the case is successfully settled.
Get Started with Tribeca Lawsuit Loans Today
Here at Tribeca, we strive to provide our clients with high-quality service and dedicated professionals to handle your case. We believe that no amount of money should hinder individuals in pursuing litigation.
That is why we provide legal funding to help individuals in Michigan fight for their rights as they seek the settlement they deserve.