Illinois Lawsuit Loans
Uplift Legal Funding provides non-recourse lawsuit loans in Illinois. With a population of 12,859,995, Illinois is the 5th largest state in the United States, and ranks 19th 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, Illinois scores a 3.3. This means that we consider it relatively tough for plaintiffs to get lawsuit loans in Illinois. Read more information below about the legal funding environment in Illinois.
Illinois Personal Injury Statistics
Illinois has a yearly injury death rate of 50.8 per 100,000. This places Illinois substantially lower than the national average of 60.1, by about -15.5%.
Illinois residents drive an estimated total of 105 billion miles yearly, which means that the average resident drives about of 8,182 miles per year. To compare, that’s 15.0% 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 Illinois, residents are pretty good when it comes to buckling up, reporting a usage rate of 94.0%.
The drinking rate in Illinois, measured as the percent of people who reported drinking too much before driving in the prior month, is 19.0% higher than the national average of 1.8% at 2.2%.Partly because of these factors, Illinois’s car accident fatality rate is 7.8. This compares favorably to the US national average of 10.9, and costs the state $1,410 million yearly.
Illinois Legal Funding Cheat Sheet
According to Ch. 735, Act 5, Art 13, Sec. 13-202; the civil statute of limitations in Illinois 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. Illinois’s guideline is modified comparative fault with a 51% threshold. Essentially, this means that plaintiff’s negligence proportionally reduces recovery – 735 I.L.C.S. § 5/2-1116. Its important to keep in mind that if you request car accident lawsuit loans early-on in your claim, legal funding underwriters must assume Illinois state minimum policy limits of:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $10,000 property damage liability per accident
Regulation of Lawsuit Loans in Illinois
Illinois has had several pieces of proposed legislation, but none have passed.