Michigan (MI) Lawsuit Loans

Updated on 6/5/2024

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 companies serving Michigan

Below you will find a list of companies that provide funding in Michigan. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.

Recommended lawsuit loan companies funding Michigan residents

We recommend the following companies for plaintiffs residing in Michigan.

Our pick for low rate lawsuit loans

USClaims 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 USClaims to see for yourself.

View USClaims’ profile

Our pick for fast lawsuit settlement loans

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

Highly rated on Google

High Rise Financial is a California-based lawsuit loan company. They have the most five-star reviews of any funding company in the industry. In addition to pre-settlement funding, High Rise provides medical care scheduling and financing services.

View High Rise Financial’s profile

See our full list of recommended companies here.

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 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: