Motorcycle accidents can leave victims dealing with severe physical, emotional, and financial burdens. The aftermath of a motorcycle accident is often filled with uncertainties, especially when it comes to paying for medical bills, repairs, and covering living expenses while recovering. In such situations, litigation funding offers a potential solution for individuals who need financial assistance while navigating the legal process of pursuing compensation. For motorcycle accident victims in Michigan, understanding how litigation funding works can be crucial to making informed decisions during a challenging time.

What Is Litigation Funding?

Litigation funding is a financial arrangement where a third-party company provides funding to individuals involved in lawsuits. This funding is specifically designed to help plaintiffs cover their living expenses, medical bills, legal fees, and other financial needs during the course of their case. In the context of motorcycle accidents in Michigan, litigation funding can help victims who are facing financial hardships due to an inability to work or the significant costs associated with recovery.

The way it works is relatively simple: A litigation funding company evaluates the case, and if they believe the victim has a strong chance of winning, they offer a cash advance. This advance is typically repaid once the case is settled or a court judgment is made, and the funding company is reimbursed from the proceeds of the lawsuit. If the victim loses the case, they are generally not required to repay the funding, making it a risk-free option for many.

Why Motorcycle Accident Victims in Michigan Seek Litigation Funding

Motorcycle accidents in Michigan can result in serious injuries such as broken bones, spinal cord injuries, brain injuries, and even fatalities. The road to recovery can be long and expensive, especially when victims require extensive medical care and rehabilitation. During this period, victims may find themselves unable to work due to their injuries, further straining their financial situation. In such cases, litigation funding can provide a lifeline, helping victims stay afloat financially as they focus on their recovery and the legal process.

- WHAT CLIENTS ARE SAYING -

In June, my wife and I asked our attorney about giving us a loan against any settlement proceeds from our case. He told us that the state bar does not

permit lawyers to participate in the financing of clients. The offer of settlement was very low so the case needed to be filed in court. I called Fast Funds. Within 24 hours, I had entered into an agreement with them, selling a very small portion of the anticipated proceeds to them in exchange for immediate financing. Now my suit is in court and I don't have to worry about money until it's outcome. Thank god for Fast Funds

B.G.

As a result of the advances you have made to our client, we were able to refuse an extremely low settlement offer and take the case to court. We settled the day of the trial for a very generous sum. Had there been no advances by Fast Funds, our client would have had no choice but to accept the inadequate offer since he was in severe debt due to his inability to work. Thank you for your helpful assistance in providing our client with the ability to persevere.

C.F.

I was involved in an accident which took my left leg. I was forced to live homeless for eleven months. Thanks to the Fast Funds people advancing money. I now live in an apartment,I am walking on a prosthetic and otherwise getting my life back together, even though my attorney has not yet settled my lawsuit. I don't know what I would have done for money because the insurance company has offered nothing so far.

A.R.S.

I was involved in an auto accident which caused me to suffer a herniated disc. Because of this injury, I was forced to miss many months of work. I had no income and no place or person to turn to for money. My attorney told me he was unable to help with any financing and the insurance company was refusing to settle the case. I turned to a company called Fast funds. They immediately reviewed my file and took the financial pressure off by providing me with interim financing. I am now able to wait for as long as it takes for my lawyer to achieve a successful result in my case. Without the financial involvement of Fast Funds, I don't know what I would have done.

K.P.

I wanted to thank you for your sensitivity in helping me cope through a very difficult time in my life. Without your help, I would have been unable to pay my rent , forcing my wife and children to be put on the street. I have not been able to return to work and I was tempted to accept the insurance company's very low offer to settle, even though I knew it was not fair or reasonable. You have given me the ability to withstand the financial pressures. Thanks for your help. I will never forget it

C.S.

I have in the past referred clients to Fast Funds Inc., a non-recourse company. The experience of my clients

and my firm were totally positive. Fast Funds was responsive to the clients financial and emotional needs, provided the necessary emergency money and did not interfere in any manner with my handling of the cases. The clients, without my input, negotiated the advance directly with the company. In each case, they were completely satisfied with the final result of the case, including the amount of profit earned by Fast Funds. Non-recourse funding is clearly a valuable tool to the plaintiff's attorney.

M.J.L.

"I am writing to recommend the valuable assistance of the Fast Funds Inc., a company that provided interim funding to financially needy clients. They help to insure that a case will be brought to a successful resolution. A good case in point is when I was offered $75,000.00 for a seriously injured client. Had she not been able to take advantage of the advance financing offered by Fast Funds, I would have been forced to take the money. As it turned out, because my client now had the financial ability to withstand the pressures of time, I tried the case to a jury and received a verdict of $315,000.00.

M.S.D.

It is my belief that non-recourse companies, such as Fast Funds, the company to whom I refer my needy clients, perform an invaluable service to both the client and the attorney. Simply put, it is common knowledge that one of the tools negotiation utilized by insurance companies is time. Offering

considerably less money than the actual case value to a client in desperate need of funds while the case is pending, gives the insurance companies a tremendous advantage. This advantage is minimized and the playing field is leveled when the client has the ability to obtain funds for a minimal portion of the anticipated proceeds. Many times, with no prospects of income, an injured party will settle the case for whatever offer is made.

R.J.F.

Additionally, many motorcycle accident victims are involved in complex legal battles, which can take months or even years to resolve. The financial burden of ongoing legal fees, expert witness costs, and other expenses can be overwhelming. Litigation funding offers victims the ability to pursue justice without the added stress of mounting bills.

How Litigation Funding Works for Motorcycle Accident Victims

The process of obtaining litigation funding typically begins when a motorcycle accident victim contacts a litigation funding company. The company will review the details of the case, including the severity of the accident, the injuries sustained, and the likelihood of success in court. The victim’s attorney will also play a key role in this process, providing additional information and supporting documents to help assess the strength of the case.

Once the funding company agrees to provide financial assistance, they will offer the victim a cash advance. The amount of the advance will depend on factors such as the projected value of the case, the severity of the injuries, and the potential for a successful outcome. This advance is generally not required to be repaid until the case is resolved, which can provide victims with much-needed financial relief during the legal process.

Litigation funding companies typically charge fees based on a percentage of the amount awarded in the case. If the victim wins the case and receives a settlement or judgment, the funding company will take their agreed-upon fee from the proceeds. However, if the case is lost, the victim is usually not required to repay the funding, making it a risk-free option for many.

What Are the Benefits of Litigation Funding?

One of the primary benefits of litigation funding for motorcycle accident victims is that it provides immediate access to funds without requiring the victim to take on additional debt. The victim can use the funding to cover essential living expenses, medical costs, and legal fees, ensuring that they can focus on their recovery without worrying about financial strain.

Furthermore, litigation funding can level the playing field for victims who may be up against well-funded insurance companies or large corporations. In many cases, insurance companies may try to pressure victims into settling for less than they deserve, knowing that the victim may be desperate for money. Litigation funding allows victims to stand firm and wait for a fair settlement or verdict, knowing they have the financial resources to wait for the best possible outcome.

Another significant benefit of litigation funding is that it does not require any collateral. Unlike traditional loans, which may require a victim to put up their home or other assets as collateral, litigation funding is based solely on the strength of the case. This means that victims do not have to risk losing their property or assets in order to secure funding.

What Are the Risks of Litigation Funding?

While litigation funding offers several advantages, it is important to understand that it is not without risks. One of the primary risks is the potential for high fees. Litigation funding companies charge fees based on the amount of the settlement or judgment, which can result in the victim receiving a smaller portion of the award than they might have if they had not used funding. However, this trade-off is often worth it for victims who need immediate financial support and do not have the resources to cover their expenses.

Another potential risk is that the funding company may try to take control of the legal strategy. Although litigation funding companies generally work in partnership with the victim’s attorney, they may have input into key decisions about how the case is handled. It is important for victims to maintain open communication with their attorneys and ensure that their interests are being prioritized.

Lastly, there is always the risk that the case may not succeed. If the victim loses the case, they will not be required to repay the funding, but they may still face additional financial burdens as a result of the legal process. It is essential for victims to carefully consider the strength of their case and weigh the potential risks and rewards before seeking litigation funding.

How to Apply for Litigation Funding

Applying for litigation funding is a relatively straightforward process. The first step is to contact a litigation funding company that offers services to motorcycle accident victims in Michigan. Many companies have online applications that allow victims to submit their case information quickly and easily. In some cases, the victim’s attorney may also play a role in the application process by submitting documents and supporting evidence on behalf of the client.

Once the application is submitted, the litigation funding company will review the case and determine whether the victim qualifies for funding. If the case is approved, the victim will receive a cash advance that can be used to cover various expenses. The amount of the advance will vary depending on the specifics of the case, and the funding company will outline the terms and conditions of the agreement.

For motorcycle accident victims in Michigan, litigation funding can provide much-needed financial support during the challenging aftermath of an accident. While it may not be the right solution for everyone, it offers a valuable option for those who need immediate access to funds without the added stress of taking on additional debt. By understanding how litigation funding works and considering the potential risks and benefits, victims can make informed decisions about how to proceed with their legal cases.

If you are a motorcycle accident victim in Michigan and are considering litigation funding as a way to manage your financial needs during your case, it is important to consult with a qualified attorney. A trusted law firm such as Fast Funds can provide guidance and help ensure that your rights are protected as you pursue compensation for your injuries.

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Motorcycle Accident Lawsuit

Understanding Litigation Funding for Motorcycle Accident Victims in Michigan