North Dakotans spend a lot of time in their cars compared to other Americans. That’s because our state boasts an abundance of rural areas with limited public transit options. In addition, Bankrate named North Dakota the best state for drivers in 2021 based on its lower-than-average gas and insurance prices, well-maintained roads, and low car theft rates.
However, the more you drive, the more likely you are to get into a costly accident due to another driver’s negligence. While you wait for a legal settlement to cover your losses after a wreck, North Dakota car accident legal funding from High Rise Financial can deliver the cash you need today.
The Benefits of Legal Financing After an Automobile Accident
No matter how carefully you drive, you are always at risk for injury because of others you share the road with. It only takes one distracted, tired, careless, or intoxicated driver to trigger a life-altering collision, and you should not have to pay for someone else’s carelessness.
With pre-settlement legal funding for your pending North Dakota personal injury lawsuit, you don’t have to. You can have cash in your pocket tomorrow without having to wait the months or years it can take for your suit to settle. Legal financing benefits include:
- Quick approval and funding: We can approve your application fast, unlike a cumbersome bank loan that may involve weeks of documentation and underwriting. Best of all, you can have the money in your account the next business day.
- No personal financial requirements: We don’t pry into your financial situation, and we’ll never ask you for bank statements, proof of income, or your consumer credit history. That’s because funding approval is based on the details of your case, not on your personal guarantee or your ability to pay us back.
- No risk: Legal funding is a form of non-recourse debt, which means we will only recover the money we give you if you win a settlement or legal judgment in your favor. If you fail to secure compensation from the defendant, the cash is yours to keep.
- Money to pay bills: North Dakota law does not regulate how you spend the funds you receive. This means you can use the money to pay for any expenses you choose, including rent, tuition, credit card payments, childcare, medical bills, legal fees, groceries, car repairs, or utilities.
- Time for your attorney to build your case: With money in your pocket to keep your bills paid, you won’t feel pressured to accept a deal too soon. Your attorney will be free to take time building the most robust possible case and negotiate a settlement that adequately compensates you for your losses.
How North Dakota Laws Affect Car Accident Legal Funding
Every state in the U.S. has its own rules regarding personal injury lawsuits and pre-settlement funding. Some have laws to prohibit or highly regulate lawsuit financing, while others like North Dakota freely allow it.
Although car accident funding in North Dakota is legal, you should know the following state laws that impact its practice before you apply.
No-Fault Insurance Laws May Limit Your Right to Sue for Your Injuries
North Dakota’s no-fault laws require insurance companies to pay for the medical bills of their policyholders regardless of who caused the accident. Every driver must carry a minimum of $30,000 in personal injury protection (PIP) coverage to facilitate this benefit.
Because most car insurance policies will fully cover an injured person’s medical bills after an accident, North Dakota’s no-fault system places limits on your right to sue. You can only apply for financing if you have a pending lawsuit, and it is only possible to file a personal injury lawsuit if one of the following is true:
- Your injuries resulted in medical bills of over $2,500.
- The accident caused a disability or disfigurement that lasted at least 60 days.
No-fault insurance only relates to personal injury lawsuits. It does not limit your ability to seek compensation for property damage.
Modified Comparative Negligence Laws Can Reduce Your Compensation
Under North Dakota’s modified comparative negligence rules, the courts can reduce the amount of compensation you receive if you were partly at fault for the collision or your injuries. And if you were more than 50% responsible, you are prohibited from receiving any compensation at all.
We will advance you up to 20% of the value of your case, so your funding is tied directly to the amount of compensation you expect to receive. The smaller your potential settlement, the lower the value of your case, and the less you will be able to access in pre-settlement funding.
Statute of Limitations Provides a Filing Deadline
You have a limited time to file your lawsuit after a vehicle accident because of North Dakota’s statute of limitations. If you wait too long, the court will reject your case, and you will not be eligible for compensation or pre-settlement funding.
According to North Dakota Century Code, Title 28, Chapter 1, you have:
- Six years to file after a car accident that caused property damage or bodily injury.
- Two years to file a wrongful death claim if you lost a loved one in an accident.
Contact Us to Apply for Lawsuit Financing in North Dakota
If your motor vehicle accident occurred in North Dakota or the at-fault party lives in the state, you can file a personal injury lawsuit in the courts here and apply for risk-free legal funding. High Rise Financial is ready to evaluate your case and get you the cash you need to cover your medical and everyday living expenses while you fight for justice.
If you have a pending claim and an attorney who agrees to participate in the legal funding process, you can apply for a North Dakota car accident loan today and have money in your pocket tomorrow. Contact us right away to get started, either by phone or through our online contact form.