pre-settlement funding in Michigan include topics of the benefits of pre-settlement funding, comparative negligence, insurance limits for personal injury and auto accidents and who the some of the top attorneys in the state
are
Pre-Settlement Funding in Michigan
Pre-settlement funding is an important service that is available to people in Michigan who have been hurt as a result of an accident or negligence. Pre-settlement funding is an option that can be used when an individual finds themselves in need of financial relief before their personal injury case has been resolved. The funds are produced by an entity referred to as a pre-settlement funding firm, who are typically referred to as “Personal Injury Litigation Financiers” or “Litigation Financiers”. This type of funding comes at a cost, and it is important that everyone in Michigan is aware of the different options and the potential benefits of pre-settlement funding.
Benefits of Pre-Settlement Funding
Pre-settlement funding in Michigan offers a number of benefits to those seeking compensation for their injuries. This type of funding helps victims of accidents, negligence, or medical malpractice cover immediate expenses such as medical bills and day-to-day living costs that may have become overwhelming during the long process of a personal injury case. Pre-settlement funding also helps protect against cases being settled too quickly, and from being pressured into settling in favor of the guilty party. It is also important to note that pre-settlement funding in Michigan does not have to be repaid if the lawsuit or the related claim is lost.
Comparative Negligence in Michigan
Comparative negligence is a legal concept in Michigan that affects the amount of damages that are awarded in personal injury cases. It is important to understand how comparative negligence works when you are considering pre-settlement funding in Michigan. Comparative negligence is a principle in which both parties are allocated a percentage of the fault for an accident. If plaintiff is found to be some level of fault, then the damages they are awarded will be reduced accordingly. The Michigan standard of comparative negligence is a “modified comparative fault” system. This means that a plaintiff will still be able to receive damages if they are found to be more than 49% at fault.
Insurance Limits in Michigan
When considering pre-settlement funding in Michigan, it is important to understand the different insurance limits available in the state. All drivers in Michigan must carry a bodily Injury or “BI” policy. This policy provides coverage for victims of an accident if the other driver is at fault. The state of Michigan requires a minimum of $20,000 for each individual and $40,000 for each accident for BI coverage. This does not necessarily provide victims with full compensation for their injuries, but it does provide some peace of mind and an option for legal recourse.
Top Attorneys in Michigan
It is important to note that the vast majority of pre-settlement funding firms do not require victims to have an attorney when signing an agreement for pre-settlement funding. However, it is recommended that individuals hire an attorney when filing a lawsuit in Michigan related to a personal injury. The team at Michigan Pre-Settlement Funding, LLC has worked with many of the top attorneys in the state, who specialize in personal injury law. Some of the top attorneys in Michigan are Attorney Doug Gann, who specializes in auto accidents, Attorney Richard Handschuh, who specializes in medical malpractice, and Attorney Dan Hilfiker, who specializes in wrongful death cases.
Conclusion
All in all, pre-settlement funding in Michigan is a great option for individuals who have been hurt as a result of an accident, negligence, or medical malpractice and who are in need of immediate financial relief. It is important to understand the different options available, the benefits of pre-settlement funding, the implications of Michigan’s comparative negligence standard, and the various insurance limits that are in place. Finally, it is also important to partner with an experienced attorney to help fight your case and ensure that you receive the compensation you are entitled to.
