New Jersey Lawsuit Loans
Uplift Legal Funding provides non-recourse lawsuit loans in New Jersey. With a population of 8,958,013, New Jersey is the 11th largest state in the United States, and ranks 11th 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, New Jersey scores a 10.0. This means that we consider it very easy for plaintiffs to get lawsuit loans in New Jersey. Read more information below about the legal funding environment in New Jersey.
New Jersey Personal Injury Statistics
New Jersey has a yearly injury death rate of 42.8 per 100,000. This places New Jersey substantially lower than the national average of 60.1, by about -28.8%.
New Jersey residents drive an estimated total of 75 billion miles yearly, which means that the average resident drives about of 8,416 miles per year. To compare, that’s 12.6% lower 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 New Jersey, residents are about average when it comes to buckling up, reporting a usage rate of 88.0%.The drinking rate in New Jersey, 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, New Jersey’s car accident fatality rate is 6.3. This compares favorably to the US national average of 10.9, and costs the state $689 million yearly.
New Jersey Legal Funding Cheat Sheet
According to Title 2A, Ch. 14, Sec. 2A:14-2; the civil statute of limitations in New Jersey is 2 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. New Jersey’s guideline is modified comparative fault with a 51% threshold. Essentially, this means that if plaintiff is not majority at-fault party, damages can be reduced by relative negligence – N.J.S.A. § 2A:15-5.1. Its important to keep in mind that if you request car accident lawsuit loans early-on in your claim, legal funding underwriters must assume New Jersey 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
Regulation of Lawsuit Loans in New Jersey
Several lawsuit funding regulations have been proposed in New Jersey, but none have passed to-date. Almost all funding companies provide legal funding to personal injury plaintiffs in New Jersey.