Oklahoma Lawsuit Loans

Introduction to Oklahoma Lawsuit Loans

Are you waiting for a lawsuit settlement in Oklahoma but find your bills piling up? This is where Oklahoma lawsuit loans come in. They are not actually loans, but a form of cash advance against your expected settlement. These funds can help ease your financial stress while you wait for your case to resolve.

In Oklahoma, these lawsuit advances are available to plaintiffs involved in a variety of cases. The only requirement is that you have a personal injury lawyer representing you. From car accident claims to medical malpractice cases, plaintiff’s can use this tool to help cover day-to-day expenses. This way, they can focus on their case and healing, rather than worrying about immediate finances.

Oklahoma Personal Injury Statistics

Oklahoma has a yearly injury death rate of 87.4 per 100,000. This places Oklahoma substantially higher than the national average of 60.1, by about 45.5%.

Oklahoma residents drive an estimated total of 48 billion miles yearly, which means that the average resident drives about of 12,199 miles per year. To compare, that’s 26.7% 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 Oklahoma, residents are about average when it comes to buckling up, reporting a usage rate of 84.0%. The drinking rate in Oklahoma, measured as the percent of people who reported drinking too much before driving in the prior month, is 2.6% lower than the 1.8% national average.

Partly because of these factors, Oklahoma’s car accident fatality rate is 16.4. This compares unfavorably to the US national average of 10.9 and costs the state $902 million yearly.

Oklahoma Legal Funding Cheat Sheet

According to Title 12, Ch. 3, Sec. 95; the civil statute of limitations in Oklahoma 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. Oklahoma’s guideline is a modified comparative fault with a 51% threshold. Essentially, this means that recovery is proportionate to defendant’s fault. If the plaintiff is majority at-fault, there can be no recovery – Okla. Stat. Ann. Tit. 23 § 13. It’s important to keep in mind that if you request car accident lawsuit loans early-on in your claim, legal funding underwriters must assume Oklahoma state minimum policy limits of:

• $25,000 bodily injury liability per person
• $50,000 bodily injury liability per accident
• $20,000 property damage liability per accident
• $25,000 uninsured motorist coverage per person
• $50,000 uninsured motorist coverage per accident
• $15,000 personal injury protection

Regulation of Lawsuit Loans in Oklahoma

Oklahoma’s Consumer Litigation Funding Act defines several legal funding related terms, requires registration with the state and requires a bond. It also outlines disclosures to be included in legal funding contracts.

Lawsuit Loans from Uplift Legal Funding

Uplift funds personal injury claims in most states. Getting funding from Uplift is easy. Apply online or give us a call at (800) 385-3660.

Does Uplift Legal Funding Directly Fund Cases in Oklahoma?

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