New York Legal Funding
Fast Pre-Settlement Loans in New York
Are you a resident of New York with a pending personal injury lawsuit?
An unexpected, lengthy legal battle in the state of New York may cause financial strain, especially if you are no longer able to afford medical bills, mortgage payments or rent, and other living expenses. Here at Nova Legal Funding, our team is on hand to offer immediate financial support.
The complex nature of personal injury lawsuits in New York can extend to years before you receive a payout for your injuries. Unfortunately, insurance companies are notorious for prolonging the process to force you to accept a lower settlement than you may be entitled to. As a result, many people with a pending personal injury lawsuit require financial assistance until the case settles.
At Nova Legal Funding, we can provide you with financial support within 24 hours. You can start the pre-settlement funding process at any time during your lawsuit. We’re here to provide fast and simple lawsuit funding which allows you and your attorney the time and space to negotiate the settlement you deserve.
New York Pre-Settlement Funding Requirements
TYour name, phone number, and your attorney’s contact information is all that’s needed to apply for lawsuit funding in New York.
- No Credit Required – There is no need for a Nova Legal Funding specialist to inspect your credit history.
- Easy Application – The majority of the pre-settlement funding process occurs between us and your attorney.
- Risk-Free Funding – Customers are not required to repay the funds if they lose their lawsuit.
Laws and Regulations of Lawsuit Funding in New York
Important New York Legal Information
|Avg. Funding per case from Nova Legal Funding||$16,818|
|Fault Laws||Pure Comparative Fault
Plaintiff’s damages will be reduced by their own liability, but not barred completely. N.Y. C.P.L.R. § 1411
|Statute of Limitations||3 years Civil Practice Laws and Rules, Art. 2, Sec. 214|
|Minimum policy limits for bodily injury & property damage||$25,000 bodily injury liability per person
$50,000 bodily injury liability per accident
$10,000 property damage liability per accident
|Minimum UIM auto insurance limits||Liability: 25/50/10
UM BI: 25/50
|Workers compensation eligibility||Not Eligible|
State legislation highlights that there are no ethical issues for an attorney advising a client to consider pre-settlement funding in New York. However, the New York City Bar Association has noted potential pitfalls in lawsuit funding, questioning whether a lawyer will be able to provide clients with the correct guidance needed. There are also concerns over the legality of a contract between a plaintiff and third-party funding, and the possibility of a conflict of interest.
An attorney must be able to show they are not losing control over the plaintiff’s litigation, as the influence of funding could cause a client to settle a case for less than its actual value. New York Rules of Professional Conduct (1.8(f)(2), 2.1, and 5.4(c)) also require lawyers to effectively insist that third-party litigation funders do not attempt to control their professional judgment.
Third party funders must clearly outline the total amount of the cash advance, an itemization of one-time fees, the percentage fee or rate of return, and the total amount to be repaid in six-month intervals carried forward to 36 months. Contracts must also allow plaintiffs to cancel the arrangement within five business days of receiving funding without penalty or further obligation. Furthermore, all contracts must contain written certification confirming that the plaintiff’s attorney has thoroughly reviewed and explained all terms.
New York Personal Injury Law: How Does it Affect Legal Funding?
The statute of limitations for personal injury cases in New York allows the injured party 3 years from the date of injury to file a lawsuit against those responsible. Following this period, it is unlikely that the New York court system will hear the case and any right to compensation will be lost.
However, there are various guidelines for plaintiffs who suffer a personal injury resulting from a government agency or employee. In these instances, the statute of limitations is 90 days to file a formal claim against a city or county in New York, and 1 year to file a lawsuit. Plaintiffs also have 90 days to file a claim against the state of New York, or notice of intent to file a claim if they are unable to arrive at a final claim figure during that period.
New York follows the pure comparative negligence doctrine. Under this jurisdiction, a judge or jury assigns a percentage of responsibility to each party, which determines the monetary value they are entitled to. This system means that plaintiffs can lose out on part of the payment if the court rules that they are partially at fault.
Personal injury compensation is determined by a combination of economic damages (medical bills, lost wages, property damage etc) and non-economic damages (pain and suffering, physical impairment, inconvenience etc).
Compensation options could be limited if the plaintiff was injured in a car accident, as New York is a no-fault car insurance state. This means that the plaintiff turns first, and usually exclusively, to their own car insurance policy in order to compensation for damages. Accidents causing ‘serious injury’, such as significant disfigurement, bone fracture, or permanent limitation of use of body organ or member, may qualify for a liability claim or personal injury lawsuit against the driver responsible. This allows plaintiffs to pursue compensation for all categories of losses, including non-economic damages which are not available in a no-fault claim.
Notable Personal Injury Lawyers in New York
There are many experienced personal injury lawyers based in New York who are waiting to take on your case:
100 Park Ave, 16th Floor, NY 10017
Scott Michael Duquin
155 Summer Street, Buffalo, NY 14222
Jeff D. DeFrancisco Esq
510 Clinton Square #510, Rochester, NY 14604
Joseph A. Marra
909 Midland Ave, Yonkers, NY 10704
224 Harrison St #308, Syracuse, NY 13202
Lee Carey Kindlon
52 James Street, Albany, NY 12207
Car Accident and Fatality Statistics in New York
Motor vehicle crashes are the leading cause of injury-related death for New York state residents. According to the most recent data from the U.S. Department of Transportation’s Fatality Analysis Reporting System, there were 933 fatal crashes causing 999 deaths in New York in 2017. A total of 347 crash fatalities were car occupants, making up 35% of all road deaths that year, followed by 242 pedestrians and 145 motorcyclists.
At Nova Legal Funding, we offer lawsuit funding for drivers in New York who are involved in car accident cases. The most common cases we work with are:
- Pedestrian accident
- Car accident
- 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 more information on lawsuit funding in New York.
How do I know if I qualify for a pre-settlement loan in New York?
You automatically qualify for lawsuit funding if you have sustained any personal injuries that were caused by another person or entity. Generally, anybody that has sustained significant injuries in New York is entitled to a free and quick application.
Will I receive lawsuit loan or cash advance?
Though the funding is typically referred to as a lawsuit loan, it is, in fact, a cash advance against your final lawsuit settlement. This advance is also non-recourse, meaning that you will not have to repay us if your case is unsuccessful. Here at Nova Legal Funding, we only collect from customers that win their case or obtain a settlement.
Does it matter how I spend the lawsuit funding?
There are no restrictions in place when it comes to how you spend your pre-settlement loan. Our funding helps those in need of financial support during a personal injury case, and some plaintiffs use the advance to pay debts, rent, and medical bills.
Apply For Lawsuit Funding in New York Now
Our team will handle all lawsuit funding in New York with efficiency and sensitivity, with specialists ready to serve personal injury plaintiffs any time of day. Please contact us to receive a free case evaluation, and to learn more about the benefits of a New York pre-settlement cash advance.