Lawsuit Loans in Oklahoma
Uplift Legal Funding provides non-recourse lawsuit loans in Oklahoma. Oklahoma has a population of 3,911,338, making it the 28th largest state in the United States. It ranks 27th for per-capita fatal injuries (D.C. included).
Legal funding is currently regulated on a state-by-state basis. Based on industry data, Uplift developed a scale to measure a state’s ‘legal funding ease’ quotient. On a scale of 0 to 10, Oklahoma scores a 8.3, which signfies that it is relatively easy for injured plaintiffs to access legal funding in Oklahoma. To learn more about injury statistics and legal funding in your state, read this brief guide to Oklahoma lawsuit loans
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 modified comparative fault with a 51% threshold. Essentially, this means that recovery is proportionate to defendant fault. If plaintiff is majority at-fault, there can be no recovery – Okla. Stat. Ann. Tit. 23 § 13. Its 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.