Minnesota Legal Funding
Fast Pre-Settlement Loans in Minnesota
Are you a resident of Minnesota with a personal injury lawsuit pending?
We understand that a lengthy legal battle in the state of Minnesota has the potential of leaving you struggling financially, unable to afford medical bills, mortgage payments, and other living expenses. At Nova Legal Funding, we’re here to provide immediate financial support within 24 hours.
The complex nature of personal injury lawsuits means that it can take months, or even years, before you receive any compensation for your injury. Unfortunately, insurance companies are all too aware of this and will, therefore, use stalling tactics to delay the process as much as possible. This can force you to accept a lower settlement than you could be owed, in order to end the lawsuit sooner rather than later and ease any financial strain.
Many plaintiffs with a personal injury lawsuit pending in Minnesota rely on pre-settlement funding in order to cover living expenses during the case duration.
Nova Legal Funding provides a superior alternative to lawsuit loans, as our cash advances are wholly non-recourse. Minnesota personal injury plaintiffs are not required to pay anything back in the event that they lose the case, which means applying for lawsuit funding is risk-free.
You can start the pre-settlement funding with Nova Legal Funding at any time during your lawsuit. Our financial experts are on hand to provide fast and simple pre-settlement loans, giving you the space to negotiate your settlement with your attorney.
Minnesota Pre-Settlement Funding Requirements
To apply for pre-settlement loans in Minnesota, all you need is your name and the contact information for both you and your attorney.
- No Credit Necessary – Your credit history will not be inspected by a Nova Legal Funding specialist.
- Hassle-Free Application – The bulk of your application process will take place between Nova Legal Funding and your attorney.
- Risk-Free Cash – You are only required to pay back the funds if you win a settlement. If you lose the lawsuit, you will owe nothing to Nova Legal Funding.
Laws and Regulations of Lawsuit Funding in Minnesota
Important Texas Legal Information
|Avg. Funding per case from Nova Legal Funding||$5,000
Nova can fund anywhere from $500 up to $2,500,000 depending on case value.
|Fault Laws||Modified Comparative Fault – 51% Bar
Defendant’s liability will be reduced in proportion to plaintiff’s fault, as long as plaintiff’s fault is less than defendant’s fault. If plaintiff is 50% at fault, and there are multiple defendants, each less than 50% liable, plaintiff is barred from recovery. M.S.A. § 604.01(1).
|Statute of Limitations||2 years Ch. 541, Sec 541.05, 541.07|
|Minimum policy limits for bodily injury & property damage||$30,000 bodily injury liability per person
$60,000 bodily injury liability per accident
$10,000 property damage liability per accident
$25,000 uninsured/underinsured motorist coverage per person
$50,000 uninsured/underinsured motorist coverage per accident
$40,000 personal injury protection
|Minimum UIM auto insurance limits||Liability: 30/60/10
UM/UIM BI: 25/50
|Workers compensation eligibility||Not Eligible|
Workers compensation cases are not eligible for lawsuit funding in Minnesota, as employees must have workers compensation insurance. In the event that a plaintiff is injured on the job, this insurance will pay for the compensation owed by the business. However, in cases where the employer does not have this insurance, they must pay a $1,000 fine per employee for each week the business operated without insurance.
If a plaintiff is owed compensation from an employer without insurance, the Minnesota Special Compensation Fund may pay the benefits instead, ensuring they are not left out of pocket.
You will be ineligible for a pre-settlement loan from Nova Legal Funding if you have applied for a loan elsewhere for the same case.
Minnesota Personal Injury Law: How Does it Affect Legal Funding?
The statute of limitations for any personal injury case in Minnesota is two years. This means the plaintiff has two years to file a lawsuit against the parties responsible for the injuries sustained. After this time has passed, it is highly unlikely that the courts will hear a case, meaning you lose out on any compensation you may have been entitled to.
Minnesota’s judicial system works under the modified comparative law, which means that you are able to recover some losses even if you’re a little at fault for the accident. Under Minnesota law, a plaintiff is able to recover damages, even if they’re up to 50% to blame for the accident. However, where the plaintiff is found to be 50% or more at fault for the accident, they are barred from collecting any money.
If the fault is shared between parties, the jury will decide the percentage attributed to each party, working out the total amount the plaintiff is owed. Any money owed is dependent on how much blame the courts have assigned to each party. For example, if the total damages for the accident equal $10,000, but the jury finds that you, the plaintiff, is 40% at fault, you can only collect $6,000.
Minnesota is a “no-fault” state regarding car insurance, which means that your own insurance will the injury claims up to a limit, regardless of which party is at fault. Under this system, the plaintiff loses some rights to sue for damages. Plaintiffs can only bring a car accident case to court if:
- They’ve incurred more than $4,000 in reasonable medical expenses
- They’ve suffered disability, permanent injury, or permanent disfigurement for at least 60 days
The plaintiff can only file a lawsuit to recover damages in excess of the personal injury protection (PIP) benefits outlined in their own insurance policy. If the PIP benefits cover all expenses, the plaintiff is not able to file a lawsuit.
In Minnesota, the law regarding dog bites makes the owner “strictly liable” for any personal injuries caused by the dog to other parties. This is regardless of the animal’s past behaviour. The statute, Minn. Stat. Ann. § 347.22 reads: “If a dog, without provocation, attacks or injures any person who is acting peaceably in any place where the person may lawfully be, the owner of the dog is liable in damages to the person so attacked or injured to the full amount of the injury sustained.”
Minnesota currently doesn’t have any caps on pain and suffering damages in medical malpractice cases, for workers’ compensation, or pain and suffering damages in personal injuries or death claims.
Notable Personal Injury Lawyers in Minnesota
There are a number of experienced personal injury lawyers based in Minnesota who would be delighted to take on your case:
Fay & Associates, LLC
619 S 10th St, Minneapolis, MN 55404
Sand Law, LLC
332 Minnesota St, Ste W2402, Saint Paul, MN 55101
Suk Law Firm
5 E Center St #200, Rochester, MN 55904
SiebenCarey Personal Injury Law
11 E Superior St #240, Duluth, MN 55802
J D Haas and Associates, PLLC
9801 Dunpont Ave S #430, Bloomington, MN 55431
Schneider, Baudler & Abbott, PC
8525 Edinbrook Crossing #208, Brooklyn Park, MN 55443
Dovolas & Vande Vegte Attorneys at Law
12800 Industrial Park Blvd, Plymouth, MN 55441
Car Accident and Fatality Statistics in Minnesota
The most recent car accident statistics currently available for Minnesota show that in 2017, there were 78,465 traffic crashes reported to the Minnesota Department of Public Safety. Of these crashes, 145,168 motor vehicles and 175,115 people were involved, causing 358 fatalities and 29,412 injuries. This brought an estimated cost of $1,799,084,000 to the state.
On average, there were 215 crashes, 1 death, and 81 injuries in Minnesota, costing an average of $4,928,997 to the state.
Here at Nova Legal Funding, we offer pre-settlement loans for residents of Minnesota to help ease any financial strain of being involved in a car accident case. The most common cases we cover are:
- Pedestrian accident
- Car accident
- Tractor trailer accident (truck accident)
- Bus accident
- Bicycle accident
- Motorcycle accident
We have the skills and experience to take on the lawsuit funding of your personal injury case in Minnesota. Get in touch with our team for a free evaluation of your case and to find out more about the benefits of a Minnesota lawsuit loan.
How do I know if I qualify for lawsuit funding in Minnesota?
Personal injuries caused by another party automatically qualify for lawsuit funding. In general, if the accident occurred within Minnesota and you sustained significant injuries, you qualify for a quick and free application.
Is it a lawsuit loan or cash advance?
While it is often referred to as a lawsuit loan, the funding we provide at Nova Legal Funding is actually an advance against the lawsuit settlement you will eventually be granted. This is considered to be non-recourse, which means that if you lose the case, you are under no obligation to pay back the loan. We only collect repayment if you win the case or obtain a settlement.
Does it matter how I spend the lawsuit funding?
We provide pre-settlement funding to those who need financial support during a personal injury lawsuit. However, there are no rules on how this cash advance should be spent. Our plaintiffs in Minnesota may use the money to pay off debts, cover the payments of their rent or mortgage, afford medical bills, or simply use the money for daily living expenditure.
Apply For Lawsuit Funding in Minnesota Now
At Nova Legal Funding, we have the skills and experience to take charge of pre-settlement funding in Minnesota. Our funding specialists are available 24/7 to serve plaintiffs who are facing a personal injury lawsuit. Get in touch with our team today for a free case evaluation, and for more information about the benefits of a Minnesota lawsuit loan.