Michigan (MI) Lawsuit Loans

Updated on 12/17/2021

This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Michigan. Below you will find the following information:

Lawsuit loan alternatives in Michigan

Lawsuit loans are expensive. Plaintiffs in Michigan should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:

Lawsuit funding laws, regulation and relevant ethics opinions in Michigan

Michigan state law does not forbid non-attorneys from providing lawsuit loans. However, courts have voided funding agreements, declaring them loans and usurious. Despite this, most lawsuit loan companies provide funding in MI.

Laws regarding lawsuit loans in Michigan

While attorneys are prohibited from engaging in champerty, non-attorneys may engage in pre-settlement legal funding.
Source: Michigan Compiled Laws Annotated § 600.919

Legal funding case law in Michigan

In Lawsuit Financial, L.L.C. v. Curry however, the court decided that pre-settlement funding was a loan and exceeded state interest rate caps of 7%.
Source: Lawsuit Financial, L.L.C. v. Curry

Can a lawyer lend money to a client in Michigan?

In Michigan, attorneys cannot help clients financially. However, attorneys can advance court expense, or cover court expenses depending on whether or not the client is indigent.
Source: Michigan Rules of Professional Conduct 1.8(e)

Can attorneys help clients receive lawsuit loans in Michigan?

The MI Bar has opined on a litigation funding contract in which control of the litigation was given over to the lender.
Source: RI-321

Lawsuit loan companies serving Michigan

Recommended lawsuit loan companies funding Michigan residents

US Claims Logo

US Claims offers some of the lowest, non-compounding rates in the industry. Many companies claim to offer “the lowest rates in the industry” – we recommend comparing them against an offer from US Claims. to see for yourself.

View US Claims’ profile

Triumph Legal Funding Logo

Triumph Legal Funding offers competitive rates and fast, friendly service. Triumph favors rolling contracts with pre-approved monthly funding amounts to help clients budget and offer peace of mind throughout the course of their lawsuit.

View Triumph Legal Funding’s profile

Thrivest Link Legal Funding Logo

Thrivest Link Legal Funding offers reasonable funding terms often with simple, non-compounding rates. Their expert underwriting allows them to fund larger sums than many of their competitors. They frequently approve claims for funding within 24 hours.

View Thrivest Link Legal Funding’s profile

Lawsuit loan companies located in Michigan

Regional pre-settlement funding companies that serve Michigan residents

  • Mustang Litigation Funding – Mustang Litigation Funding is relatively new but quickly growing lawsuit funding company based in Minnesota. They have provided more than $50 million in funds to plaintiffs and attorneys since 2018.
  • Oasis Financial – Oasis Financial is one of the largest pre-settlement lawsuit loan companies in the United States. Oasis has provided funding to more than 250,000 plaintiffs since 2003.
  • Preferred Capital Funding – Preferred Capital claims to be the first pre-settlement funding provider in the US. They receive most of their business directly from referring attorneys.

Other pre-settlement lawsuit loan companies serving Michigan residents