Lawsuit Loans in Wisconsin
Uplift Legal Funding provides non-recourse lawsuit loans in Wisconsin. Wisconsin has a population of 5,771,337, making it the 20th largest state in the United States. It ranks 5th 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, Wisconsin scores a 10.0, which signfies that it is very easy for injured plaintiffs to access legal funding in Wisconsin. To learn more about injury statistics and legal funding in your state, read this brief guide to Wisconsin lawsuit loans
Wisconsin Personal Injury Statistics
Wisconsin has a yearly injury death rate of 65.1 per 100,000. This places Wisconsin much higher than the national average of 60.1, by about 8.3%.
Wisconsin residents drive an estimated total of 62 billion miles yearly, which means that the average resident drives about of 10,755 miles per year. To compare, that’s 11.7% 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 Wisconsin, residents are fairly bad when it comes to buckling up, reporting a usage rate of 80.0%.
The drinking rate in Wisconsin, measured as the percent of people who reported drinking too much before driving in the prior month, is 67.7% higher than the national average of 1.8% at 3.1%.
Partly due to these factors, Wisconsin’s car accident fatality rate is 9.8. This compares favorably to the US national average of 10.9, and costs the state $692 million yearly.
Wisconsin Legal Funding Cheat Sheet
According to Chapter 893, Sec. 893.54; the civil statute of limitations in Wisconsin is 3 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. Wisconsin’s guideline is modified comparative fault with a 51% threshold. Essentially, this means that plaintiff’s share of the fault will offset total damages – Wis. Stat. § 895.045(1). Its important to keep in mind that if you request car accident lawsuit loans early-on in your claim, legal funding underwriters must assume Wisconsin 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
- $25,000 uninsured motorist coverage per person
- $50,000 uninsured motorist coverage per accident
Regulation of Lawsuit Loans in Wisconsin
Lawsuit loans in Wisconsin 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.