Uplift Legal Funding provides non-recourse lawsuit loans in Alabama. Alabama has a population of 4,858,979, making it the 24th largest state in the United States. It ranks 14th for per-capita fatal injuries (D.C. included).
Because funding is currently regulated on a state-by-state basis, the team at Uplift developed a scale to measure a state’s ‘legal funding ease’ quotient. On a scale of 0 to 10, Alabama scores a 4.2, which signfies that it is relatively tough for injured plaintiffs to access legal funding in Alabama. To learn more about injury statistics and the availability in your state, read this brief guide to Alabama lawsuit loans
Accident Injury in Alabama
Alabama’s yearly injury death rate of 74.9 per 100,000 places it 24.7% higher than the national average of 60.1.
Alabama residents drive an estimated total of 67 billion miles yearly. That means the average Alabama resident drives about of 13,842 miles per year. That figure is 43.7% higher than the U.S. national average of 9,630 miles per year.
Aside from miles driven, local seatbelt and drinking and driving habits play a large part in the auto accident death rate. Alabama residents are pretty good when it comes to buckling up, reporting a 90.0% use rate.
The drinking rate in Alabama, or the percent of people who report drinking too much before driving at least once in the prior month is 1.7%, which is 8.0% lower than the national average of 1.8%.
In part due to these factors, the car accident fatality rate in Alabama is 17.5. This compares unfavorably to the US national average of 10.9, and costs the state $1,200 million yearly.
Alabama Legal Funding Cheat Sheet
According to Title 6, Ch. 2, 6-2-38; the civil statute of limitations in Alabama is 2 years. This means that you may lose the right to sue for negligence if you do not file your lawsuit within the limit.
The degree to which plaintiff negligence impacts the liability claim varies from state-to-state. Alabama’s guideline is pure comparative fault.
Essentially, this means that if plaintiff is making negligence claim, plaintiff negligence can defeat damages – John Cowley & Bros., Inc. v. Brown, 569 So.2d 375 (Ala. 1990); Ala. Power Co. v. Schotz, 215 So.2d 447 (Ala. 1968). Its important to keep in mind that if you request car accident lawsuit loans early-on in your claim, legal funding underwriters must assume Alabama state minimum policy limits of:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $25,000 property damage liability per accident
Regulation of Lawsuit Loans in Alabama
Alabama’s statute defines several terms including consumer lawsuit lender, consumer lawsuit lending, consumer lawsuit lending agreement, dispute and finance charge. The statute establishes a maximum finance charge and requires licensing for lawsuit lenders doing business in Alabama. Furthermore, it allows the superintendent of Banks of the State Banking Department to issue regulations and interpret and handle violations of the act.