Lawsuit Loans in Mississippi
Uplift Legal Funding provides non-recourse lawsuit loans in Mississippi. Mississippi has a population of 2,992,333, making it the 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, Mississippi scores a 10.0, which signfies that it is very easy for injured plaintiffs to access legal funding in Mississippi. To learn more about injury statistics and legal funding in your state, read this brief guide to Mississippi lawsuit loans
Mississippi Personal Injury Statistics
Mississippi has a yearly injury death rate of 81.8 per 100,000. This places Mississippi substantially higher than the national average of 60.1, by about 36.2%.
Mississippi residents drive an estimated total of 40 billion miles yearly, which means that the average resident drives about of 13,331 miles per year. To compare, that’s 38.4% 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 Mississippi, residents are about average when it comes to buckling up, reporting a usage rate of 83.0%. The drinking rate in Mississippi, measured as the percent of people who reported drinking too much before driving in the prior month, is 35.1% lower than the national average of 1.8% at 1.2%.
Partly because of these factors, Mississippi’s car accident fatality rate is 22.6. This compares unfavorably to the US national average of 10.9, and costs the state $861 million yearly.
Mississippi Legal Funding Cheat Sheet
According to Title 15, Ch. 1, Sec. 15-1-49; the civil statute of limitations in Mississippi is 3 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. Mississippi’s guideline is pure comparative fault. Essentially, this means that plaintiff’s recovery may be reduced by his own liability, but he will not be barred from recovering – M.C.A. § 11-7-15. Its important to keep in mind that if you request car accident lawsuit loans early-on in your claim, legal funding underwriters must assume Mississippi 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
- $25,000 uninsured motorist coverage per person
- $50,000 uninsured motorist coverage per accident
Regulation of Lawsuit Loans in Mississippi
Lawsuit loans in Mississippi 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.