Rhode Island Lawsuit Loans

Navigating Rhode Island Lawsuit Loans

If you have a pending lawsuit in Rhode Island and you’re feeling financially constrained, a lawsuit loan, technically known as pre-settlement funding, may be an option worth considering. This type of financial assistance does not need to be paid back if you don’t win your case.

Unlike typical loans, the approval for lawsuit loans is not based on your credit score or employment status. Instead, the strength of your case determines it. Rental mishaps, car accidents or any other personal injury can leave you stranded financially. However, while your lawsuit is ongoing, these legal fundings can help manage living expenses or medical bills.

Remember that all lawsuit loans are not the same. It’s crucial to choose a reputable lender like Uplift Legal Funding. We offer simple and straightforward service that’ll guide you through the process and provide the best options for your circumstances.

Rhode Island Personal Injury Statistics

Rhode Island has a yearly injury death rate of 63.3 per 100,000. This places Rhode Island much higher than the national average of 60.1, by about 5.4%.

Rhode Island residents drive an estimated total of 8 billion miles yearly, which means that the average resident drives about 7,416 miles per year. To compare, that’s 23.0% 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 Rhode Island, residents are fairly bad when it comes to buckling up, reporting a usage rate of 78.0%.

The drinking rate in Rhode Island, measured as the percent of people who reported drinking too much before driving in the prior month, is 29.9% higher than the national average of 1.8% at 2.4%.

Partly because of these factors, Rhode Island’s car accident fatality rate is 4.3. This compares favorably to the US national average of 10.9 and costs the state $84 million yearly.

Rhode Island Lawsuit Funding Cheat Sheet

According to Title 9, Ch. 1, Sec. 9-1-14; the statute of limitations for personal injury cases in Rhode Island 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 Rhode Island, the guideline is pure comparative fault. Basically, this means that plaintiff’s negligence affects the right to recovery – R.I.G.L. § 9-20-4.

Thankfully, even if your case is fairly new and policy limits for the defendant aren’t known, we can 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 motorist coverage per person
• $50,000 uninsured motorist coverage per accident
• $25,000 uninsured motorist property damage coverage

Regulation of Lawsuit Loans in Rhode Island

This bill makes legal funding subject to state usury statutes.

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.