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).
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 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.