No matter how carefully you drive, it takes only one reckless, sleepy, or intoxicated driver to cause a life-changing accident. Thankfully, Oregon allows injured motorists to sue negligent drivers for compensation and obtain financing against their anticipated settlement.
We understand the challenges you face as you wait for your settlement to make you financially whole again. As you struggle to pay your bills, the defendant’s lowball offer can begin to seem enticing. Our Oregon car accident loans from High Rise Financial provide a better option.
How Pre-Settlement Funding Can Help After Your Collision
Moving vehicles can cause severe bodily injury and property damage to pedestrians, bicyclists, or other motorists, even at slow to moderate speeds. Victims of careless drivers endure a wide range of injuries, including broken bones, lacerations, back injuries, and whiplash.
These injuries can be painful, traumatic, and expensive to treat. They might even be disabling, making it challenging to work and earn a living while pursuing compensation. However, pre-settlement legal funding may be the financial lifeline you need to fill the gap.
Legal funding for your Oregon auto accident lawsuit can put cash in your pocket in a matter of days, ready to spend on any expenses you choose. Sometimes called a lawsuit car accident loan or advance, pre-settlement funding can give you money for:
- Rent or mortgage payments
- Insurance premiums
- Doctor bills or medications
- Therapy fees
- Car repairs
With pre-settlement funding, you never make monthly payments the way you would with a loan. We collect our repayment from your settlement, and if you don’t receive a settlement or judgment in your favor, you don’t have to pay us back. The money is yours to keep, risk-free.
Oregon’s At-Fault System for Car Accident Compensation
Oregon is an “at-fault” state, unlike a “no-fault” system where each driver’s insurance pays regardless of who is at fault. This means if another driver is to blame for your damages, you start by filing a claim with their insurance company.
The other driver’s insurance company may refuse to pay, however, claiming:
- Your injuries were a pre-existing condition
- The accident was your fault, or you were somehow to blame for your injuries
- The other driver’s policy does not cover your damages
Oregon requires drivers to have personal injury protection (PIP) coverage, so some of your medical bills may be paid by your policy. It is not uncommon for losses to exceed these policy limits, though, so you may need to turn to the legal system and pre-settlement funding to get the money owed to you.
Other Laws that Can Impact Legal Funding in Oregon
Oregon courts and legislators have created regulations over the years that you need to be aware of as you seek justice for your injuries. These laws will impact your legal strategy and may influence the amount of money you can recover through your settlement and car accident lawsuit financing in Oregon.
Modified Comparative Fault Rule
What happens if you are partly to blame for your traffic accident or injuries? For example, suppose the other driver caused the collision by failing to yield the right-of-way, but your injuries were exacerbated by your decision not to wear a seatbelt.
Under the modified comparative fault rule, found in Oregon Revised Statutes (ORS) §31.600, your compensation will be reduced by the same proportion as your burden of fault. In other words, if you were 25% to blame for your injuries, you can expect to receive reimbursement for only 75% of your losses.
If you are 51% or more at fault, this law bars you from receiving compensation for your damages. In this situation, you would not be able to collect any settlement or access legal financing.
Oregon’s Statute of Limitations
You must file a lawsuit against the at-fault party or their insurance company within the deadlines specified by Oregon law. You cannot receive compensation or access pre-settlement financing if you file too late. Therefore, you and your attorney must be aware of these dates.
- Two years for personal injury: According to ORS §12.110, you must file within two years of the accident if seeking compensation for physical injuries.
- Three years for wrongful death: ORS §30.020 allows family members up to three years to file a wrongful death lawsuit on behalf of a loved one killed in a traffic accident.
- Six years for property damage: ORS §12.080 gives you six years after a car crash to file your lawsuit seeking reimbursement for damage to your vehicle or other property.
No Pay, No Play Laws
If you are driving without valid insurance, you will likely be limited in what compensation you can seek under ORS §31.715. For example, you can still sue for reimbursement for your doctor bills and car repairs. Still, you may not be able to get compensation for non-economic losses like emotional trauma or pain and suffering.
While there are exceptions to this “No pay, no play” law if you’ve had insurance in the recent past, driving without insurance is risky. Even if your accident was 100% someone else’s fault, the state could substantially diminish your compensation and pre-settlement funding.
What Happens if Your Lawyer Does Not Win Your Car Accident Claim?
If your lawyer does not recover the compensation you were expecting, you may have serious concerns about potential debt collection and how you will pay back your Oregon car accident loan.
However, our loans are non-recourse. We can only accept payment for your loan from the funds you won in your car accident claim. If your case is unsuccessful, you can breathe easier knowing you will not owe High Rise Financial anything.
Call High Rise Financial for Your Oregon Car Accident Funding
If you were injured in a car accident that was someone else’s fault, your pending lawsuit might eventually bring you the reimbursement you deserve. While you and your attorney work for justice, you can also apply for legal funding to help cover expenses and give you leverage to keep up the fight.
With a car accident loan in Oregon, High Rise Financial can give you fast access to up to 20% of your future settlement. There are no application fees and no risk, so call or fill out our online form to get started today.