Lawsuit Loans in Utah
Uplift Legal Funding provides non-recourse lawsuit loans in Utah. Utah has a population of 2,995,919, making it the 3largest state in the United States. It ranks 2nd 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, Utah scores a 10.0, which signfies that it is very easy for injured plaintiffs to access legal funding in Utah. To learn more about injury statistics and legal funding in your state, read this brief guide to Utah lawsuit loans
Accident Injury in Utah
Utah’s yearly injury death rate of 62.7 per 100,000 places it 4.4% higher than the national average of 60.1.
Utah residents drive an estimated total of 30 billion miles yearly. That means the average Utah resident drives about of 9,881 miles per year. That figure is 2.6% 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. Utah residents are about average when it comes to buckling up, reporting a 82.0% use rate.
The drinking rate in Utah, or the percent of people who report drinking too much before driving at least once in the prior month is 0.7%, which is 62.1% lower than the national average of 1.8%.
In part due to these factors, the car accident fatality rate in Utah is 9.2. This compares favorably to the US national average of 10.9, and costs the state $268 million yearly.
Utah Lawsuit Funding Cheat Sheet
According to Title 78, Ch. 12, Sec. 78-12-25; the statute of limitations for personal injury cases in Utah is 4 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 Utah, the guideline is modified comparative fault with a 50% threshold. Basically, this means that plaintiff can only recover where defendants account for the majority of fault – U.C.A. § 78B-5-818(2). Often, for legal funding requests early-on in a case, companies providing lawsuit loans in Utah must assume state minimum policy limits of:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $10,000 property damage liability per accident
- $50,000 uninsured/underinsured motorist coverage per person
- $100,000 uninsured/underinsured motorist coverage per accident
- $10,000 uninsured/underinsured motorist property damage coverage per accident
Regulation of Lawsuit Loans in Utah
Lawsuit loans in Utah 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.