When you or a loved one is in an accident that results in serious injuries, there are bound to be financial consequences. If you believe the accident was the fault of someone else, filing a personal injury claim is often the best way to receive the compensation you deserve and hold the negligent party accountable for their actions. Unfortunately for plaintiffs, this process can take a considerable amount of time. While a litigation process is ongoing, bills may pile up and it can be difficult to stay ahead. Applying for Utah lawsuit funding through Preferred Capital Funding can solve your monetary troubles immediately.
Who Is Eligible for Lawsuit Funding in Utah?
There are only a few requirements that make you eligible for legal funding. First, we’ll need to verify that you are pursuing a personal injury lawsuit with the help of a lawyer, after you were injured in an accident that wasn’t your fault. It’s important to note that in the state of Utah, we take on the risk for you, meaning if you lose your case, you don’t have to pay us back. Because of that, we only accept cases that we feel have a strong chance of winning. Your lawyer will also need to be willing to work with us.
Believe it or not, those are the only requirements. We won’t need to look into your personal, professional, or financial history for you to be considered for our funding.
Personal Injury Statistics in Utah
Anytime an accident is caused by the negligence of another party, the victim can file a personal injury claim to seek compensation for their losses. In Utah, claims are regularly filed for traffic accidents, medical malpractice, defective products, and nursing home abuse. Traffic accidents are among the most common because of the number of claims that can be filed, like for car crashes, truck accidents, motorcycle wrecks, pedestrian accidents, and more.
According to the Utah Department of Public Safety Highway Safety Office, there were 62,471 motor vehicle crashes in 2016 that resulted in 26,738 injured persons and 281 fatalities. The leading causes of traffic deaths included speeding, unrestrained vehicle occupants, drunk drivers, failing to yield, and distracted driving.
No matter what type of accident you’ve been in, you may be facing financial struggles. Applying for lawsuit funding can help alleviate your burdens. There are, however, some state laws that could impact your case that you should be aware of.
Utah Lawsuit Funding and Liens
Legal funding is regulated at the state level. In Utah, lawsuit funding is mostly unregulated, but there are some laws that could affect your ability to receive funding from us. For example, if you have received any previous funding during a case, a lien will be filed, and we have to arrange to pay it off. A lien is a form of security interest granted in order to ensure the payment of a debt will be made.
Additionally, if you are suing the state of a political subdivision, you are legally required to disclose the source of any funding you receive, according to the H.B. 407 Litigation Transparency Act. The outcome of your lawsuit could be impacted if you do not disclose the proper information.
Even though lawsuit funding is fairly unregulated in Utah, we work to follow best-practice disclosure guidelines. This means that the repayment terms and any rates or fees will be outlined clearly when we go over your terms of the agreement.
Recover Faster with Pre-Settlement Funding
Once you submit your application with us, our legal underwriters will get to work reviewing your information and determining how much funding we can provide you with. Depending on the circumstances surrounding your lawsuit, you could be eligible for funding from $500 to $500,000.
If you’re ready to get a handle on your finances so you can focus on recovery and your personal injury lawsuit, submit your application with Preferred Capital Funding today. You could have the money you need in as little as 24 hours.