Are you awaiting a personal injury lawsuit in the state of Alaska?
A lengthy legal battle in Alaska may cause financial strain if the process leaves you unable to afford medical bills, mortgage payments, and other living expenses. Nova Legal Funding is here to provide you with immediate financial support.
The complicated nature of personal injury lawsuits in Alaska means it could be months, or even years before you receive compensation for your injuries. This is made worse by the fact that insurance companies may attempt to delay proceedings further in the hope that cash issues will force you to accept a lower settlement than you deserve. This is why many people with a pending personal injury lawsuit require vital financial assistance until the case settles.
Our cash advances can help to cover these all-important expenses. Nova Legal Funding is here to provide fast and simple lawsuit funding within 24 hours, allowing you and your attorney the time and space to negotiate the strongest possible settlement.
Alaska personal injury plaintiffs are not required to pay anything back if they lose their case, which means they are taking no risks by applying for lawsuit funding. You can apply for a pre-settlement loan with Nova Legal Funding at any time during your case.
Laws and Regulations of Pre-settlement Funding in Alaska
Important Alaska Legal Information
| Avg. Funding per case from Nova Legal Funding | $3,333 Nova can fund anywhere from $500 up to $2,500,000 depending on case value. |
| Fault Laws | Modified Comparative Fault 51% Bar Plaintiff will be barred from recovery if he is more than 50% at fault – under 50% will reduce pro-rata damages. I.C. § 34-51-2-6. |
| Statute of Limitations | 2 years Sec. 9.10.070 |
| Minimum policy limits for bodily injury & property damage | $50,000 bodily injury liability per person $100,000 bodily injury liability per accident $25,000 property damage liability per accident |
| Minimum UIM auto insurance limits | Liability: 50/100/25 |
| Workers compensation eligibility | Eligible |
Pre-settlement funding is often considered an act of champerty, which refers to an illegal agreement where a party finances a lawsuit they had no previous interest in, with the intention of sharing the proceeds if the suit succeeds.
Though Alaska prohibits champerty in common law, the Alaska Supreme Court has not enforced this in any recent case where the issue of litigation funding has arisen. As a result, no pre-settlement funding agreements in Alaska have been invalidated on account of champerty.
Nova Legal Funding is a completely licensed provider of pre-settlement loans in Alaska. Plaintiffs are able to spend their lawsuit cash advance however they like, meaning this valuable funding can go towards debts, bills, and other costs.
Alaska Personal Injury Law: How Does it Affect Legal Funding?
In the state of Alaska, the statute of limitations for personal injury cases is two years. This usually means that injured parties have two years from the date of injury to file a lawsuit in court, though the time limit could instead start from the date the injury was discovered as opposed to the date it was caused. In any case, it is sensible to discuss the statute of limitations with an attorney.
Alaska courts apply the comparative fault doctrine to their cases, meaning the plaintiff’s damages will be reduced if they bear responsibility for their injury. Therefore, if they are deemed to be 20% at fault, 20% will be deducted from their compensation. However, if they are over 50% at fault, they will be barred from recovering any damages at all.
Alaska law is flexible when it comes to car accidents. Though citizens are welcome to seek damages in court regardless of how severe the injury or property damage is, they also have room to negotiate an insurance settlement out of court. This can be done by filing a claim with their insurance company, or those of any other drivers involve.
However, there are laws in place to limit damages obtained from medical malpractice cases. These apply to non-economic damages, which include things like pain, suffering, and inconvenience, as opposed to economic damages which cover all monetary losses e.g. medical bills. This cap has been set at whichever the larger figure is of $400,000, or $8,000 for each expected remaining year of life. Medical malpractice cases regarding severe physical impairment and disfigurement are limited to $1 million. The state of Alaska also prohibits plaintiffs from receiving punitive damages, which punish the defendant for outrageous conduct.
Any personal injuries caused by another person or entity automatically qualify you for pre-settlement funding in Alaska with Nova Legal Funding.
Notable Personal Injury Lawyers in Alaska
There are many experienced personal injury lawyers working in Alaska who would be delighted to take on your case, including the following:
Whitney A. Power
10950 O’Malley Centre Drive, Suite C, Anchorage, AK 99515
Ward Merdes
455 3rd Ave #225/226, Fairbanks, AK 99701
Mark Choate
424 N. Franklin St., Juneau, AK 99801
Gregory S. Parvin
290 N. Willow St., Wasilla, AK 99654
William D. Cook
PO Box No. 1, Eagle River, AK 99577-0001
Car Accident and Fatality Statistics in Alaska
In 2017 there were 79 fatalities in Alaska resulting from 75 motor vehicle crashes. Approximately 32% of the perished drivers whose blood alcohol concentration was tested showed BACs over 0.08%—all US states impose penalties for driving with a BAC of 0.08% or greater. Most traffic crash deaths involved pickup and SUV occupants (32%), followed by 28% of car occupants, and 18% of pedestrians.
At Nova Legal Funding, we offer pre-settlement funding in Alaska for drivers involved in car accident cases. Examples of cases we work with are:
- Pedestrian accident
- Car accident lawsuit loans
- Tractor trailer accident (truck accident)
- Bus accident
- Bicycle accident
- Motorcycle accident
Get in touch with our team at Nova Legal Funding for a free case evaluation, and for further information regarding lawsuit funding in Alaska.
FAQs
Am I eligible for a lawsuit loan in Alaska?
If you have sustained a personal injury in the state of Alaska, you automatically qualify for pre-settlement funding. Injuries resulting from another person or entity give plaintiffs access to a free and quick application.
Is this a lawsuit loan or a cash advance?
Nova Legal Funding offers cash advances, though these are often referred to as lawsuit loans. The advance is provided against the plaintiff’s final lawsuit settlement, and as a non-recourse advance, it only needs to be paid back if customers win the case or obtain a settlement.
How should I spend my lawsuit loan?
There are no restrictions in place regarding how plaintiffs spend their advances. Many past Nova Legal Funding customers have used their lawsuit loans to pay for medical bills, debts, and other living expenses.
Apply For Lawsuit Funding in Alaska Now
We are available 24/7 to provide financial aid to personal injury plaintiffs in Alaska. Please contact a member of our team today for a free case evaluation and for more information on lawsuit funding in Alaska.
Call us toll-free at 800-760-0704 to speak with a friendly funding specialist today.