Louisiana Lawsuit Loans
Uplift Legal Funding provides non-recourse lawsuit loans in Louisiana. With a population of 4,670,724, Louisiana is the 25th largest state in the United States, and ranks 15th 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, Louisiana scores a 10.0. This means that we consider it very easy for plaintiffs to get lawsuit loans in Louisiana. Read more information below about the legal funding environment in Louisiana.
Louisiana Personal Injury Statistics
Louisiana has a yearly injury death rate of 75.7 per 100,000. This places Louisiana substantially higher than the national average of 60.1, by about 26.1%.
Louisiana residents drive an estimated total of 48 billion miles yearly, which means that the average resident drives about of 10,315 miles per year. To compare, that’s 7.1% 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 Louisiana, residents are fairly bad when it comes to buckling up, reporting a usage rate of 79.0%. The drinking rate in Louisiana, measured as the percent of people who reported drinking too much before driving in the prior month, is 35.3% higher than the national average of 1.8% at 2.5%.
Partly because of these factors, Louisiana’s car accident fatality rate is 15.5. This compares unfavorably to the US national average of 10.9, and costs the state $1,010 million yearly.
Louisiana Lawsuit Funding Cheat Sheet
According to Ci. Code. Art. 3492; the statute of limitations for personal injury cases in Louisiana is 1 year. 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 Louisiana, the guideline is pure comparative fault. Basically, this means that defendant’s liability is offset by plaintiff’s liability, except in the case of intentional tort – L.S.A. – C.C. Art. 2323. Often, for legal funding requests early-on in a case, companies providing lawsuit loans in Louisiana 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
- $50,000 uninsured motorist coverage per person
- $100,000 uninsured motorist coverage per accident
- $2,000 medical payments coverage
Regulation of Lawsuit Loans in Louisiana
Lawsuit loans in Louisiana remain largely unregulated and most legal funding companies provide funding in the state.
Despite lack of regulation, reputable companies follow basic best-practice disclosure guidelines for legal funding contracts. Lawsuit lenders nationwide should display rates, fees and repayment terms prominently.