Lawsuit Loans in Texas
Uplift Legal Funding provides non-recourse lawsuit loans in Texas. Texas has a population of 27,469,114, making it the 2nd largest state in the United States. It ranks 23rd 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, Texas scores a 10.0, which signfies that it is very easy for injured plaintiffs to access legal funding in Texas. To learn more about injury statistics and legal funding in your state, read this brief guide to Texas lawsuit loans
Texas Personal Injury Statistics
Texas has a yearly injury death rate of 54.4 per 100,000. This places Texas much lower than the national average of 60.1, by about -9.5%.
Texas residents drive an estimated total of 258 billion miles yearly, which means that the average resident drives about of 9,397 miles per year. To compare, that’s 2.4% 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 Texas, residents are pretty good when it comes to buckling up, reporting a usage rate of 94.0%.
The drinking rate in Texas, measured as the percent of people who reported drinking too much before driving in the prior month, is 13.6% higher than the national average of 1.8% at 2.1%.
Partly because of these factors, Texas’s car accident fatality rate is 12.8. This compares unfavorably to the US national average of 10.9, and costs the state $4,890 million yearly.
Texas Legal Funding Cheat Sheet
According to Civ. Prac. & Rem Code, Title 2, Ch. 16, Sec. 16.003; the civil statute of limitations in Texas 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. Texas’s guideline is modified comparative fault with a 51% threshold. Essentially, this means that plaintiff damages may be reduced by his portion of fault – Tex. Civ. Prac. & Rem. Code Ann. §§ 33.001-33.017. Its important to keep in mind that if you request car accident lawsuit loans early-on in your claim, legal funding underwriters must assume Texas state minimum policy limits of:
- $25,000 bodily injury liability per person
- $65,000 bodily injury liability per accident
- $15,000 property damage liability per accident
- $3,000 personal injury protection
Regulation of Lawsuit Loans in Texas
Lawsuit loans in Texas remain largely unregulated and most legal funding companies provide funding in the state.
Despite lack of regulation, reputable companies follow basic best-practice disclosure guidelines for legal funding contracts. Lawsuit lenders nationwide should display rates, fees and repayment terms prominently.