Colorado Lawsuit Loans
Uplift Legal Funding originates non-recourse lawsuit loans in Colorado. With a population of 5,456,574, Colorado is the 22nd largest state in the United States, and ranks 9th 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, Colorado scores a 1.3. This means that we consider it very tough for plaintiffs to get lawsuit loans in Colorado. Read more information below about the legal funding environment in Colorado.
Colorado Personal Injury Statistics
Colorado has a yearly injury death rate of 69.3 per 100,000. This places Colorado substantially higher than the national average of 60.1, by about 15.3%.Colorado residents drive an estimated total of 50 billion miles yearly, which means that the average resident drives about of 9,243 miles per year. To compare, that’s 4.0% lower than the national average of 9,630 miles per year.Aside from miles driven, local seatbelt use and drunk driving habits play a large part in the car accident death rate.
In Colorado, residents are about average when it comes to buckling up, reporting a usage rate of 81.0%.The drinking rate in Colorado, measured as the percent of people who reported drinking too much before driving in the prior month, is 2.8% higher than the national average of 1.8% at 1.9%.Partly because of these factors, Colorado’s car accident fatality rate is 10.0. This compares favorably to the US national average of 10.9, and costs the state $647 million yearly.
Colorado Legal Funding Cheat Sheet
According to Colo. Rev. Stat. Sec. 13-80-102; the civil statute of limitations in Colorado 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.
Colorado’s guideline is modified comparative fault with a 50% threshold. This means that plaintiff’s negligence offsets defendant’s liability, and majority plaintiff negligence bars recovery – C.R.S. § 13-21-111; Kussman v. Denver, 706 P.2d 776 (Colo. 1985); B.G.’s, Inc. v. Gross, 23 P.3d 691 (Colo. 2001). Its important to keep in mind that if you request car accident lawsuit loans early-on in your claim, legal funding underwriters must assume Colorado state minimum policy limits of:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $15,000 property damage liability per accident
Regulation of Lawsuit Loans in Colorado
The Colorado Supreme Court stated that litigation funding constitutes a loan subject to Colorado’s UCCC even if the plaintiffs do not have an obligation to repay any deficiency if the litigation proceeds are ultimately less than the amount due.
Lawsuit Loans from Uplift Legal Funding
Uplift Legal Funding provides non-recourse lawsuit loans on personal injury claims in most states. If you have any questions, or are interested in legal funding, apply online or give us a call at (800) 385-3660.