Are you a resident of Maine currently awaiting a personal injury lawsuit?
Unfortunately, it is all too common for personal injury plaintiffs to experience financial hardship throughout their case. Often these lengthy legal battles can leave injured parties struggling to pay rent, bills, or expensive medical bills. However, Nova Legal Funding is on hand to provide customers with pre-settlement funding, giving customers the immediate financial support they need.
In the state of Maine, personal injury lawsuits tend to be particularly complex. The nature of these cases can leave plaintiffs waiting months or even years before they obtain a payout for their injuries. This is far from ideal for those facing financial struggles, which is why insurance companies often delay proceedings in the hope that plaintiffs will be forced to accept a reduced settlement.
It’s no surprise that so many personal injury plaintiffs look to lawsuit loans for help, but at Nova Legal Funding, we provide our Maine customers with a better alternative.
Our non-recourse cash advances only need to be repaid by clients who win their personal injury lawsuit or obtain a settlement. If you lose your case, you don’t need to repay the funding. This eliminates the risk of applying for lawsuit funding in Maine.
You can apply for a pre-settlement loan at any point during your lawsuit, and a member of the Nova Legal Funding team will transfer the funds within 24 hours.
Laws and Regulations of Pre-settlement Funding in Maine
Important Maine Legal Information
|Avg. Funding per case from Nova Legal Funding||n/a|
|Fault Laws||Modified Comparative Fault – 50% Bar Damages attributed to defendants will be reduced by the plaintiff’s negligence. 14 M.R.S.A. § 156.|
|Statute of Limitations||6 years Title 14, Part 2, Ch. 205, Sub. 1, Sec. 752|
|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 $2,000 medical payments coverage|
|Minimum UIM auto insurance limits||Liability: 50/100/25 UM/UIM BI: 50/100 Medical payments: $2,000|
|Workers compensation eligibility||Not Eligible|
According to the Maine Consumer Credit Code of Legal Funding Practices, all contracts must be written in a clear and coherent manner and detail all fees and repayments, giving the customer five business days from receiving funding to cancel the agreement. All contacts must also be accompanied by an acknowledgment from the client’s attorney, confirming they have reviewed the contract.
Maine requires all third-party funders to register with the state. Nova Legal Funding is an authorized organization able to provide plaintiffs in Maine with pre-settlement funding.
Maine Personal Injury Law: How Does it Affect Legal Funding?
Compared to the majority of US states, Maine has an extremely lengthy statute of limitations for personal injury cases. Those who have sustained injuries caused by another person or entity have six years to file a personal injury lawsuit against those responsible. In spite of this generous statute of limitations, it is integral that plaintiffs file their case by the deadline or will likely lose their right to bring it to court and lose compensation as a result. However, if a Maine resident wishes to make a claim against a city, country, state, or government agency, they have 180 days to file a formal claim and two years to file a lawsuit.
Drivers involved in auto accidents are able to choose whether they go to court or make a claim through the relevant insurance companies. While any dog owners are strictly liable for any injuries their animal causes to a person, regardless of its previous behavior.
Maine courts follow the modified comparative fault doctrine to calculate how much compensation will be paid by each party involved in an accident. Once each party has been assigned a percentage of responsibility, they will have to pay the same percentage of the total overall damages awarded to the plaintiff. However, plaintiffs will receive no damages if they are over 50% responsible for their own injury. If they are less than 50% at fault, they are eligible to receive compensation but it will be reduced by the same percentage. For example, a party found to be 60% at fault will be required to pay 60% of damages, but 40% will be removed from the total if the plaintiff is responsible for the rest of the accident.
The majority of personal injury lawsuits will not be bound by any damages caps, however, Maine sets a damages cap of $500,000 on non-economic damages in wrongful death cases. Non-economic damages refer to compensation for things like pain, suffering, and inconvenience as opposed to economic damages like medical bills.
Notable Personal Injury Lawyers in Maine
There are plenty of experienced personal injury lawyers in Maine ready to help you reach the settlement you deserve:
92 Exchange St, Portland, ME 04101
Steven J. Mogul
23 Water Street, Suite 400, Bangor, ME 04401
133 State St, Augusta, ME 04330
186 Lisbon St, Lewiston, ME 04240
Timothy R. O’Donnell
112 Silver St, Waterville, ME 04901
Car Accident and Fatality Statistics in Maine
A total of 163 fatal auto crashes occurred in Maine in 2017, according to data obtained by the U.S. Department of Transportation’s Fatality Analysis Reporting System. These led to a total of 172 deaths that year—12.9 deaths per 100,000 population.
Approximately 37% of these fatalities were car occupants while 49% of fatal accidents involved multiple vehicles. The findings also revealed that 78% of deadly crashes occurred in rural locations, while the remainder took place in urban settings.
Nova Legal Funding offers pre-settlement funding for drivers in Maine involved in traffic cases regarding:
- Pedestrian accident
- Car accident settlement funding
- Tractor trailer accident (truck accident)
- Bus accident
- Bicycle accident
- Motorcycle accident
For more information on our lawsuit funding in Maine, contact a member of our friendly team today for a free case evaluation.
Maine Lawsuit Funding FAQs
Do I qualify for a lawsuit loan in Maine?
Generally, anyone involved in an accident in Maine is eligible. If you sustained an injury in the state resulting from the actions of another person or entity, you automatically qualify for a free and speedy pre-settlement funding application.
Will I receive a lawsuit loan or cash advance?
Though we refer to the funding as a lawsuit loan, we actually provide customers with a cash advance against their eventual case settlement. Importantly, this is a non-recourse cash advance, meaning plaintiffs will only have to pay us back if they successfully win their case and obtain a settlement.
How should I spend the pre-settlement loan?
As there are no restrictions in place in terms of spending, Nova Legal Funding customers are able to spend their lawsuit funding however they please. Though they are not limited, past customers have chosen to use the cash advance to pay off debts, cover their mortgage, and handle overall living expenses.
Apply For Lawsuit Funding in Maine Now
At Nova Legal Funding, we are committed to supporting all customers financially within 24 hours upon receiving their application. Contact the team today to start your pre-settlement funding application in Maine.
Call us toll-free at (213) 340-5082 to speak with a friendly funding specialist today.