Are you a citizen of Ohio with an upcoming personal injury lawsuit?
These lengthy legal battles often result in a number of financial issues and, in the worst cases, plaintiffs may struggle to pay rent, bills, and other vital expenses. Here at Nova Legal Funding, we offer pre-settlement funding in order to provide immediate financial support during a lawsuit.
Personal injury lawsuits in Ohio can be particularly complicated, and plaintiffs could be left waiting a while before they receive compensation for their injuries. Insurance companies have been known to exploit this fact by delaying proceedings with stalling tactics to pressure you into accepting a lower settlement than you deserve.
At Nova Legal Funding, we provide non-recourse cash advances for personal injury plaintiffs in Ohio who may need financial help. You can apply for funding at any point during your case, and we typically transfer the cash within 24 hours.
Laws and Regulations of Lawsuit Funding in Ohio
Important Ohio Legal Information
|Avg. Funding per case from Nova Legal Funding||$14,786|
|Fault Laws||Modified Comparative Fault – 51% Bar If the plaintiff’s liability exceeds that of the defendant, he may be barred from recovery. Ohio Rev. Code Ann. § 2315.33.|
|Statute of Limitations||2 years Title 23, Ch. 5, Sec. 2305.10|
|Minimum policy limits for bodily injury & property damage||$25,000 bodily injury liability per person $50,000 bodily injury liability per accident $25,000 property damage liability per accident|
|Minimum UIM auto insurance limits||Liability: 25/50/25|
|Workers compensation eligibility||Not Eligible|
Pre-settlement funding in Ohio is regulated through Ohio Rev. Code Ann. § 1349.55. Litigation finance companies are required to state they have no rights in any decisions in the lawsuits, and the legislation forbids lenders from having any control or involvement in personal injury cases. The state does not impose regulations on fees, interest, or the time period for which fees can be charged.
You will be ineligible for financial support from Nova Legal Funding if you have already applied for a loan with another lender regarding the same case.
Ohio Personal Injury Law: How Does it Affect Legal Funding?
In Ohio, the statute of limitations for personal injury cases allows a claimant two years from the date of their injury to file a lawsuit against those responsible. A two-year period also applies to Ohio citizens seeking to make a claim against an employee or agency of the government. These claims must be filed in the state’s Court of Claims.
The courts work under a modified comparative fault rule, which means each party is assigned a percentage of responsibility for the accident in question. This percentage of fault directly affects how much compensation each party is entitled to. For instance, a driver found 75% at fault for a car accident will have to pay 75% of the total damages to the injured party. However, the plaintiff stands to lose money if they are deemed responsible for their own injury. An injured party will lose 30% of their damages if they are 30% at fault, but if they are found to be 50% or more responsible, they will be prevented from claiming any money.
While there are no caps on the damages obtained from most personal injury cases, there are some exceptions that the Ohio Supreme Court upheld as constitutional. For instance, non-economic damages such as pain and suffering are usually capped at $250,000 in most non-catastrophic injury cases. Alternatively, this could be capped at three times the amount of economic damages if this value is greater, with an overall cap of $350,000. Punitive damages, typically awarded when the defendant’s behavior is found to be especially harmful, cannot exceed double the amount of economic damages.
Ohio dog owners will also be found liable for any personal injury their pet causes to another person. The owner will be responsible even if their dog showed no signs of bad behavior in the past.
Notable Personal Injury Lawyers in Ohio
Alabama is home to many experienced personal injury lawyers who would be delighted to take on your case:
900 Michigan Ave, Columbus, OH 43215
Jeffrey H. Friedman
55 Public Square #1055, Cleveland, OH 44113
Barry D. Levy
600 Vine Street, Suite 1600, Cincinnati, OH 45202
John P. Hilgeman
12 W. Monument Ave., Suite 100, Dayton, OH 45402
PNC Bank Buiding, 405 Madison Avenue, Suite 1200, Toledo, OH 43604
1 Cascade Plaza # 2210, Akron, OH 44308
201 E Commerce St, Suite 316, Youngstown, OH 44503
William E. Clark
301 S. Main St. 4th Floor, Findlay, OH 45840
Car Accident and Fatality Statistics in Ohio
Of the 37,133 fatal motor vehicle crashes in the US during 2017, accidents in Ohio resulted in 1,179 deaths—the sixth-highest figure of all the states.
According to the U.S. Department of Transportation’s Fatality Analysis Reporting System, Ohio experienced 1,094 deadly crashes that year with 47% of fatal car occupants. Approximately 53% of crashes occurred in urban parts of Ohio, while 48% of fatal accidents involved multiple vehicles. Furthermore, of the 497 drivers killed with known blood alcohol concentration results, 29% of these had BACs above the drunk driving limit of 0.08%.
The most common pre-settlement funding for drivers involved in auto-accident cases in Ohio are:
- Pedestrian accident
- Auto accident lawsuit loan
- Tractor trailer accident (truck accident)
- Bus accident
- Bicycle accident
- Motorcycle accident
Please contact a member of our team today for more information about pre-settlement funding in Ohio and begin your application.
Ohio Lawsuit Funding FAQs
How do I know if I qualify for a lawsuit loan in Ohio?
If you have suffered an injury as a result of another person or entity, you automatically qualify for a fast and free pre-settlement funding application in Ohio. Following the general rule, if your accident occurred within Ohio state lines, and caused you significant injuries, you are eligible for a quick and free application.
Do you provide a lawsuit loan or cash advance?
Commonly known as lawsuit loans, we provide cash advances against your eventual settlement. However, plaintiffs do not have to pay back the money from a non-recourse cash advance if they lose their lawsuit. Nova Legal Funding will only collect from you if you win your case or obtain a settlement.
What do I do with the pre-settlement loan?
With no restrictions in place, plaintiffs are able to spend the funds however they like. Past clients have used the cash advance to pay off previous debts, the mortgage, and general living expenses.
Apply For Lawsuit Funding in Ohio Now
Get in touch with Nova Legal Funding for immediate financial support for your personal injury case in Ohio. Our straightforward service will ease the pressure as you proceed with your personal injury case. Contact our team of professionals for a free evaluation of your case and to find out more about the benefits of pre-settlement funding in Ohio.
Call us toll-free at (213) 340-5082 to speak with a friendly funding specialist today.