Lawsuit Loans in Massachusetts
Uplift Legal Funding provides non-recourse lawsuit loans in Massachusetts. Massachusetts has a population of 6,794,422, making it the 15th largest state in the United States. It ranks 15th 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, Massachusetts scores a 10.0, which signfies that it is very easy for injured plaintiffs to access legal funding in Massachusetts. To learn more about injury statistics and legal funding in your state, read this brief guide to Massachusetts lawsuit loans
Accident Injury in Massachusetts
Massachusetts’s yearly injury death rate of 46.3 per 100,000 places it -22.9% lower than the national average of 60.1.
Massachusetts residents drive an estimated total of 59 billion miles yearly. That means the average Massachusetts resident drives about of 8,721 miles per year. That figure is 9.4% 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. Massachusetts residents are fairly bad when it comes to buckling up, reporting a 73.0% use rate.
The drinking rate in Massachusetts, or the percent of people who report drinking too much before driving at least once in the prior month is 2.2%, which is 19.0% higher than the national average of 1.8%.
In part due to these factors, the car accident fatality rate in Massachusetts is 4.5. This compares favorably to the US national average of 10.9, and costs the state $438 million yearly.
Massachusetts Lawsuit Funding Cheat Sheet
According to Title 5, Ch. 260, Secs. 2A and 4; the statute of limitations for personal injury cases in Massachusetts 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 Massachusetts, the guideline is modified comparative fault with a 51% threshold. Basically, this means that plaintiff negligence reduces recovery proportionally, and recovery is barred if plaintiff majority at-fault – M.G.L.A. 231 § 85. Often, for legal funding requests early-on in a case, companies providing lawsuit loans in Massachusetts must assume state minimum policy limits of:
- $20,000 bodily injury liability per person
- $40,000 bodily injury liability per accident
- $10,000 property damage liability per accident
- Personal injury protection (unlimited)
- $1 million property protection
Regulation of Lawsuit Loans in Massachusetts
Lawsuit loans in Massachusetts 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.