Alaska Lawsuit Loans
Uplift Legal Funding provides non-recourse lawsuit loans in Alaska. With a population of 738,432, Alaska is the 17th largest state in the United States, and ranks 21st for per capita fatal injuries (D.C. included).
Because funding regulation is complex, Uplift developed a funding-ease scale. This scale helps plaintiffs understand what part their state plays in lawsuit loan decisions. On a scale of 0 to 10, Alaska scores a 8.3. This means that we consider it relatively easy for plaintiffs to get lawsuit loans in Alaska. Read more information below about the legal funding environment in Alaska.
Accident Injury in Alaska
Alaska’s yearly injury death rate of 81.2 per 100,000 places it 35.2% higher than the national average of 60.1.
Alaska residents drive an estimated total of 5 billion miles yearly. That means the average Alaska resident drives about of 6,832 miles per year. That figure is 29.1% lower 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. Alaska residents are about average when it comes to buckling up, reporting a 88.0% use rate.
The drinking rate in Alaska, or the percent of people who report drinking too much before driving at least once in the prior month is 1.2%, which is 35.1% lower than the national average of 1.8%.
In part due to these factors, the car accident fatality rate in Alaska is 8.8. This compares favorably to the US national average of 10.9, and costs the state $72 million yearly.
Alaska Lawsuit Funding Cheat Sheet
According to Sec. 9.10.070; the statute of limitations for personal injury cases in Alaska is 2 years. This means that you may lose the right to sue if you do not file your legal claim within that time-frame. Different states follow slightly differing comparative negligence statutes. In Alaska, the guideline is pure comparative fault.
Basically, this means that plaintiff’s share of the fault will offset total damages – Alaska Stat. §§ 09.17.060 and 09.17.080. Often, for legal funding requests early-on in a case, companies providing lawsuit loans in Alaska must assume state minimum policy limits of:
- $50,000 bodily injury liability per person
- $100,000 bodily injury liability per accident
- $25,000 property damage liability per accident
Regulation of Lawsuit Loans in Alaska
The Alaska Supreme Court upheld a third party litigation funding agreement, but mentioned common law champerty being in effect. Champerty is an illegal agreement in which a person with no previous interest in a lawsuit finances it to share in the recovery. Because of the mention of champerty, some companies do provide funding in Alaska, but they are in the minority.
Lawsuit Loans from Uplift Legal Funding
Uplift Legal Funding provides legal funding in most states. If you have any questions, or are interested in learning more about lawsuit loans, or call us today at apply online today or give us a call at (800) 385-3660.