North Carolina Lawsuit Loans

Overview of Lawsuit Loans in North Carolina

If you’re involved in a lawsuit and are waiting on a settlement, you may wish to consider a lawsuit loan. Lawsuit loans can provide the financial support you need while you wait for your case to resolve. In North Carolina, these types of loans are becoming increasingly popular.

Lawsuit loans aren’t like regular bank loans. They are typically non-recourse, which means if you lose your case, you won’t have to repay the loan. This makes them a less risky option for many. However, like any financial decision, it’s essential to fully assess your situation before proceeding.

At Uplift Legal Funding, we are here to assist you with your lawsuit loan needs in North Carolina. We will guide you through the process and ensure you understand all the details associated with this type of funding.

Accident Injury in North Carolina

North Carolina’s yearly injury death rate of 64.1 per 100,000 places it 6.7% higher than the national average of 60.1.

North Carolina residents drive an estimated total of 112 billion miles yearly. That means the average North Carolina resident drives about 11,140 miles per year. That figure is 15.7% higher 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. North Carolina residents are about average when it comes to buckling up, reporting an 88.0% use rate.

The drinking rate in North Carolina or the percent of people who report drinking too much before driving at least once in the prior month is 1.4%, which is 24.3% lower than the national average of 1.8%.

In part due to these factors, the car accident fatality rate in North Carolina is 13.7. This compares unfavorably to the US national average of 10.9 and costs the state $1,710 million yearly.

North Carolina Lawsuit Funding Cheat Sheet

According to Title 1, Section 1-52; the statute of limitations for personal injury cases in North Carolina 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 North Carolina, the guideline is pure contributory negligence. Basically, this means that no recovery if plaintiff negligence proximately caused the injury – Smith v. Fiber Controls Corp., 268 S.E.2d 504 (N.C. 1980); N.C.G.S.A. § 99B-4(3). Often, for legal funding requests early-on in a case, companies providing lawsuit loans in North Carolina must assume state minimum policy limits of:

• $25,000 bodily injury liability per person
• $50,000 bodily injury liability per accident
• $25,000 property damage liability per accident
• $25,000 uninsured/underinsured motorist coverage per person
• $50,000 uninsured/underinsured motorist coverage per accident
• $30,000 personal injury protection

Regulation of Lawsuit Loans in North Carolina

Bad case law exists and a judge ruled that without legislation, there could be issues, when funders lend in NC, they usually structure it as a loan intentionally to avoid issues. Regulation has been proposed but has not passed.

Lawsuit Loans from Uplift Legal Funding

Uplift funds personal injury claims in most states. If you have any questions or are interested in legal funding, apply online today or give us a call at (800) 385-3660.

Does Uplift Legal Funding Directly Fund Cases in North Carolina?

Uplift Legal Funding operates as a direct funder in many states. However, in North Carolina, we act as a broker and originate funding requests to a select group of funding partners.