New York Lawsuit Loans
Uplift Legal Funding provides non-recourse lawsuit loans in New York. With a population of 19,795,791, New York is the 4th largest state in the United States, and ranks 10th for per capita fatal injuries (D.C. included). New York City alone has 8.5 million residents.
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 York scores a 10.0. This means that we consider it very easy for plaintiffs to get lawsuit loans in New York. Read more information below about the legal funding environment in New York.
New York Personal Injury Statistics
New York has a yearly injury death rate of 41.6 per 100,000. This places New York substantially lower than the national average of 60.1, by about -30.7%.
New York residents drive an estimated total of 127 billion miles yearly, which means that the average resident drives about of 6,427 miles per year. To compare, that’s 33.3% 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 York, residents are pretty good when it comes to buckling up, reporting a usage rate of 90.0%.The drinking rate in New York, measured as the percent of people who reported drinking too much before driving in the prior month, is 24.3% lower than the national average of 1.8% at 1.4%.
Partly because of these factors, New York’s car accident fatality rate is 5.7. This compares favorably to the US national average of 10.9, and costs the state $1,590 million yearly.
New York Lawsuits
According to the New York State Department of Health, motor vehicle traffic crashes are the leading cause of injury related death for New York State residents. From 2012 to 2014, there were 1,098 deaths, 12,093 hospitalizations and 136,913 emergency department visits per year due to auto accidents.
With so many personal injury lawsuits being filed, it is safe to assume that many of these plaintiffs are not financially well off. Especially in the instance of personal injury cases, many plaintiffs find themselves out of work due to their injuries. On top of lost wages, a plaintiff’s medical expenses can be high as well. Unfortunately, the financial burden many plaintiffs face happens regularly.
New York Car Accidents
The fatal car accident rates in New York are staggering. On average, more than three people died and 48 were injured in auto accidents every day in 2011, according to a New York State Traffic Safety study. Of those killed, 597 were drivers, 203 were passengers, 296 were pedestrians and 57 were bicyclists. Of those injured, 106,335 were drivers, 48,677 were passengers, 15,689 were pedestrians and 5,883 were bicyclists.
In Manhattan specifically, there are reports of 24,609 traffic accidents in the year 2000. About 70 of these accidents proved fatal and 14,624 accidents resulted in injury.
Unfortunately, some of the leading causes of car accidents in New York are due to negligence. Here are the statistics:
- In 2011, speed-related accidents accounted for 319 fatalities and 18,843 personal injuries.
- Alcohol-related crashes accounted for 362 deaths and 6,121 injuries in 2011.
These shocking statistics help put into perspective the fact that serious car accidents can occur to anyone. It is so important to educate yourself on the laws and regulations in your county. However, being knowledgeable and engaging in safe driving practices does not protect you from other drivers. If you get into an accident with a negligent driver, and need pre-settlement funding to get-by, Uplift can help. We primarily offer simple interest rates on car accident loans.
New York Legal Funding Cheat Sheet
According to Civil Practice Laws and Rules, Art. 2, Sec. 214; the civil statute of limitations in New York 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. New York’s guideline is pure comparative fault. Essentially, this means that plaintiff’s share of fault offsets defendant’s liability unless plaintiff is the majority negligent party – N.Y. C.P.L.R. § 1411. 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 York state minimum policy limits of:
- $30,000 bodily injury liability per person
- $60,000 bodily injury liability per accident
- $25,000 property damage liability per accident
- $30,000 uninsured motorist coverage per person
- $60,000 uninsured motorist coverage per accident
- $25,000 uninsured motorist property damage coverage per accident
Regulation of Lawsuit Loans in New York
New York has not passed any legislation regarding lawsuit funding. This means that most pre-settlement funding companies service New York.