Do you live in Oklahoma and have an upcoming personal injury lawsuit?
Nova Legal Funding offers 24-hour financial support to anyone facing a lengthy legal battle in the state of Oklahoma. The time spent fighting a court case can affect your ability to go to work and render you unable to pay rent, medical bills, and various other daily expenses.
Personal injury cases are often complex and could see you waiting months, or even years, before you receive any payment, partially as a result of insurance companies becoming wise to the urgency of the situation. As they can intentionally slow the process down, their tactics may force claimants to accept a lower settlement than they deserve.
Plaintiffs in Oklahoma typically opt for legal funding to cover their financial obligations while they wait for a compensation payment. Nova Legal Funding provides customers with a no win no fee cash advance, which makes our funding risk-free as you only need to pay us back should you win.
Our pre-settlement financial aid in Oklahoma is available at any time during a legal case, giving our clients the time and space they need to get the settlement they’re entitled to.
Laws and Regulations of Lawsuit Funding in Oklahoma
Important Oklahoma Legal Information
|Avg. Funding per case from Nova Legal Funding||$13,879 Nova can fund anywhere from $500 up to $2,500,000 depending on case value.|
|Fault Laws||Modified Comparative Fault – 51% Bar Plaintiff cannot recover if it is 51% or more at fault. If 50% or less at fault, it can recover, although its recovery is reduced by its degree of fault. If the plaintiff is 10% at fault, the plaintiff gets 90% recovery. Okla. Stat. Ann. Tit. 23 § 13.|
|Statute of Limitations||2 years Title 12, Ch. 3, Sec. 95|
|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||Eligible|
Unlike many other states, all types of cases are eligible for settlement loans in Oklahoma. Consequently, lawsuit funding in Oklahoma is perfectly legal.
However, any advances must adhere to the state laws on litigation funding, with the Oklahoma Senate passing Senate Bill 1016 in 2013 to regulate settlement loans in Oklahoma. We follow all regulations outlined in this Bill, such as those relating to possessing a valid license, granting our clients a right to rescission, and having no influence on the case itself.
Nova Legal Funding can also offer secondary funding for those that have already received financial support for a case. However, for us to do so, this must be disclosed so that we can repay the lien.
Oklahoma Personal Injury Law: How Does it Affect Legal Funding?
Oklahoma personal injury cases operate under a two-year statute of limitations. This gives you two years to file a personal injury lawsuit, with claims made after this point unlikely to be heard. This period usually begins from the day of your injury, although it could be from the date your injuries are diagnosed if you did not realize you were injured prior to this. If the claim is against a government, city, or county employee or entity, this period is reduced to just one year.
Oklahoma follows a “modified comparative fault” doctrine in the event that both parties are to blame for an injury. Under this rule, the injured party’s damage is reduced in line with the percentage they are deemed to be at fault. However, they will receive no damages if they are held to be 50% or more responsible.
Like other states, Oklahoma places a cap on damages, but only those considered non-economic, such as compensation for pain and suffering, which can be no higher than $350,000. It does not affect economic damages.
With regards to dog attacks, Oklahoma follows Okla. Stat. Ann., tit. 4, § 42.1, which makes owners strictly liable for injuries caused by their animal, regardless of their past behavior. This is unlike states that follow a “one bite” rule where an owner may not be held responsible if their dog’s behavior was previously exemplary.
For motorist accidents, the state follows a “fault” based system, meaning the person responsible for the accident is also liable for the harm caused—up to their policy limits. This gives the injured party three routes of redress: they can either file a claim with their own insurance company, file a claim directly with the at-fault motorist’s insurance carrier, or file a personal injury lawsuit against them. Under this, drivers in Oklahoma must have the following amounts of liability insurance coverage at all times:
- $25,000 for bodily injury or death of one person in an accident caused by the owner/driver of the insured vehicle
- $50,000 for total bodily injury or death liability in an accident caused by the owner/driver of the insured vehicle, and
- $25,000 for property damage per accident caused by the owner/driver of the insured vehicle.
Oklahoma does not require drivers to have uninsured motorist coverage, but this will help if a policyholder is injured by a driver without insurance, or in a hit-and-run accident.
Notable Personal Injury Lawyers in Oklahoma
Oklahoma has access to a huge number of experienced personal injury lawyers who will be happy to take on your case:
Phillip C. Hawkins
1800 S Baltimore Ave, #800, Tulsa, OK 74119
1401 Holliday, Suite 400, Wichita Falls, TX 76301
808 West Gore, Lawton, OK 73501
401 S. Boston, Suite 500, Tulsa, OK 74103
525 S. Main Street, Suite 535, Tulsa, OK 74103
Car Accident and Fatality Statistics in Oklahoma
Oklahoma has a fairly high rate of traffic fatalities compared to the rest of the country, with the latest figures showing there were 611 fatal crashes in 2017, resulting in 655 deaths. This equates to 16.7 deaths per 100,000 of the population. Just over half (53%) of car occupants killed weren’t wearing their seatbelts.
Nova Legal Funding offers lawsuit funding for Oklahoma drivers involved in cases related to traffic accidents. Below are six of the most common causes:
- Pedestrian accident
- Same day accident loans for car accidents
- Tractor trailer accident (truck accident)
- Bus accident
- Bicycle accident
- Motorcycle accident
Oklahoma Lawsuit Funding FAQs
Do I qualify for settlement loans in Oklahoma?
All personal injuries that an individual or entity is responsible for entitles you to pre-settlement funding in Oklahoma. Broadly speaking, if you are injured within the state, you will be automatically eligible for a free and quick application.
Is it a lawsuit loan or cash advance?
Nova Legal Funding gives cash advances to injured individuals. Although these are referred to as lawsuit loans, they are in fact non-recourse advances, and you are only obliged to pay them back should you win your case.
Does it matter how I spend the lawsuit funding?
There are no guidelines on how you spend litigation funding. It is for those needing financial assistance during a long-running legal battle, and previous clients have used this for purposes like paying off debts, covering medical bills, or for affording mortgage payments.
Apply For Lawsuit Funding in Oklahoma Now
Nova Legal Funding has the insight and experience to be the helping hand you need during a legal case. Our expert team is available around the clock to answer any questions and deal with any queries, so get in contact today for a free case evaluation.
Call us toll-free at 800-760-0704 to speak with a friendly funding specialists today.