Lawsuit Loans in Kentucky
Uplift Legal Funding provides non-recourse lawsuit loans in Kentucky. Kentucky has a population of 4,425,092, making it the 26th largest state in the United States. It ranks 21st for per-capita fatal injuries (D.C. included).
Legal funding is currently regulated on a state-by-state basis. Based on industry data, Uplift developed a scale to measure a state’s ‘legal funding ease’ quotient. On a scale of 0 to 10, Kentucky scores a 7.5, which signfies that it is relatively tough for injured plaintiffs to access legal funding in Kentucky. To learn more about injury statistics and legal funding in your state, read this brief guide to Kentucky lawsuit loans
Kentucky Personal Injury Statistics
Kentucky has a yearly injury death rate of 81.1 per 100,000. This places Kentucky substantially higher than the national average of 60.1, by about 35.0%.
Kentucky residents drive an estimated total of 49 billion miles yearly, which means that the average resident drives about of 11,000 miles per year. To compare, that’s 14.2% higher 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 Kentucky, residents are about average when it comes to buckling up, reporting a usage rate of 84.0%.
The drinking rate in Kentucky, measured as the percent of people who reported drinking too much before driving in the prior month, is 18.8% lower than the national average of 1.8% at 1.5%.
Partly because of these factors, Kentucky’s car accident fatality rate is 17.2. This compares unfavorably to the US national average of 10.9, and costs the state $798 million yearly.
Kentucky Legal Funding Cheat Sheet
According to Title 36, Chapter 413, Sec. 413.140; the civil statute of limitations in Kentucky is 1 year. 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. Kentucky’s guideline is pure comparative fault. Essentially, this means that plaintiff’s share of fault offsets defendant’s liability – K.R.S. § 411.182. Its important to keep in mind that if you request car accident lawsuit loans early-on in your claim, legal funding underwriters must assume Kentucky state minimum policy limits of:
- $15,000 bodily injury liability per person
- $30,000 bodily injury liability per accident
- $25,000 property damage liability per accident
Regulation of Lawsuit Loans in Kentucky
A Kentucky court enforced the champerty statute, casting doubt on the validity of legal funding contracts in the state (Ky. Rev. Stat. Ann. § 372.060). Despite this, most funding companies continue to fund in Kansas.
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.