Lawsuit Loans in Vermont
Uplift Legal Funding provides non-recourse lawsuit loans in Vermont. Vermont has a population of 626,042, making it the 19th largest state in the United States. It ranks 11th 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, Vermont scores a 6.7, which signfies that it is relatively tough for injured plaintiffs to access legal funding in Vermont. To learn more about injury statistics and legal funding in your state, read this brief guide to Vermont lawsuit loans
Vermont Personal Injury Statistics
Vermont has a yearly injury death rate of 71.2 per 100,000. This places Vermont substantially higher than the national average of 60.1, by about 18.5%.
Vermont residents drive an estimated total of 7 billion miles yearly, which means that the average resident drives about of 11,683 miles per year. To compare, that’s 21.3% 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 Vermont, residents are about average when it comes to buckling up, reporting a usage rate of 84.0%.
The drinking rate in Vermont, measured as the percent of people who reported drinking too much before driving in the prior month, is 2.6% lower than the national average of 1.8% at 1.8%.
Partly because of these factors, Vermont’s car accident fatality rate is 9.1. This compares favorably to the US national average of 10.9, and costs the state $86 million yearly.
Vermont Lawsuit Funding Cheat Sheet
According to Title 12, Part 2, Ch. 23, Subch. 2, Sec. 512; the statute of limitations for personal injury cases in Vermont 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 adhere to slightly differing comparative negligence statutes. In Vermont, the guideline is modified comparative fault with a 51% threshold. Basically, this means that plaintiff can only recover for damages not caused by own negligence – Vt. Stat. Ann. Tit. 12, § 1036. Often, for legal funding requests early-on in a case, companies providing lawsuit loans in Vermont must assume 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/underinsured motorist coverage per person
- $50,000 uninsured/underinsured motorist coverage per accident
- $20,000 uninsured/underinsured motorist property damage coverage per accident
Regulation of Lawsuit Loans in Vermont
Vermont’s Sec. A.1. 8 V.S.A. chapter 74 requires lawsuit funding companies to be licensed as lenders in the state. Requires legal funding companies to disclose several items on their contracts, including fees, APR, the total amount due in a schedule, the right to rescission, etc.