Maryland Lawsuit Loans
Uplift Legal Funding does not provide non-recourse lawsuit loans in Maryland. With a population of 6,006,401, Maryland is the 19th largest state in the United States, and ranks 24th 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, Maryland scores a 0.0. This means that we consider it very tough for plaintiffs to get lawsuit loans in Maryland. Read more information below about the legal funding environment in Maryland.
Accident Injury in Maryland
Maryland’s yearly injury death rate of 55.1 per 100,000 places it -8.3% lower than the national average of 60.1.
Maryland residents drive an estimated total of 58 billion miles yearly. That means the average Maryland resident drives about of 9,576 miles per year. That figure is 0.6% 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. Maryland residents are pretty good when it comes to buckling up, reporting a 91.0% use rate.
The drinking rate in Maryland, or the percent of people who report drinking too much before driving at least once in the prior month is 2.1%, which is 13.6% higher than the national average of 1.8%.
In part due to these factors, the car accident fatality rate in Maryland is 8.5. This compares favorably to the US national average of 10.9, and costs the state $690 million yearly.
Maryland Lawsuit Funding Cheat Sheet
According to Courts and Judicial Proceedings, Sec. 5-101; the statute of limitations for personal injury cases in Maryland is 3 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 Maryland, the guideline is pure contributory negligence. Basically, this means that plaintiff fault bars recovery – Garrett County v. Bell Atlantic, 695 A.2d 171 Often, for legal funding requests early-on in a case, companies providing lawsuit loans in Maryland must assume state minimum policy limits of:
- $20,000 bodily injury liability per person
- $40,000 bodily injury liability per accident
- $5,000 property damage liability per accident
- $20,000 uninsured motorist coverage per person
- $40,000 uninsured motorist coverage per accident
- $8,000 personal injury protection
Regulation of Lawsuit Loans in Maryland
Maryland regards legal funding as a loan and pursuant to Maryland Consumer Loan Law. They therefore require licenses, surety bond, etc.