Vermont Lawsuit Loans

Introduction to Lawsuit Loans in Vermont

If you’re dealing with a lawsuit in Vermont and facing financial struggles, you might be considering legal funding. Known as ‘lawsuit loans’, these funds provide plaintiffs with the cash they need during a difficult time. These are not traditional loans; there’s no need for a credit check, and if you don’t win your case, you typically don’t have to repay anything.

In this article, we’ll help you navigate Vermont laws for lawsuit loans, learn about some local statistics, understand key regulations, and finally, discover how Uplift Legal Funding can assist you in securing fair legal funding.

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 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 the plaintiff can only recover for damages not caused by their 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.

Lawsuit Loans from Uplift Legal Funding

Uplift funds personal injury claims in most states. Apply online today or give us a call at (800) 385-3660.

Does Uplift Legal Funding Directly Fund Cases in Vermont?

Uplift Legal Funding operates as a direct funder in many states. However, in Vermont, we act as a broker and originate funding requests to a select group of funding partners.