Minnesota is often celebrated for its stunning water bodies and rich cultural heritage. This state offers a diverse landscape, from bustling cities to serene forests. However, safety is not entirely guaranteed, and the negligent actions of a person may result in personal injuries or car accidents. This might also lead to hospitalization, job loss, and legal complexities. If you are struggling financially while your civil case is ongoing, applying for a lawsuit loan in Minnesota may be right for you.
At High Rise Financial, we provide affordable financial support to personal injury, accident victims, and plaintiffs with ongoing civil lawsuits in Minnesota. Our Minnesota lawsuit loans are non-recourse and totally safe. You will be approved for the pre-settlement funding based on the merits of your case and expected settlement, among other factors. Also, you can use the cash advance to pay for your medical bills, outstanding debts, rent, food, car loans, mortgage, utilities, and other essential needs.
Personal Injury and Accident Laws in Minnesota
Here are some laws addressing personal injury and car accident cases in Minnesota:
Accident Reporting Requirement
In Minnesota, drivers involved in a traffic collision must report the accident to law enforcement if there are injuries, death of a person, or property damage exceeding $1,000.
Fault Law
Minnesota follows a fault-based system for personal injury claims. This means that the party responsible for the accident will be held accountable for physical injuries, property damages, and other accident-related expenses suffered by the victim.
Negligence Laws
Furthermore, the state of Minnesota operates using a modified comparative negligence rule with a 51% bar. Under this system, if the plaintiff is found to be partially at fault for their injury, their compensation will be reduced by their percentage of fault.
For example, if the court awards $50,000 in damages and the plaintiff is deemed 20% at fault, their compensation will be reduced by 20% ($10,000). They can only recover $40,000. However, if the plaintiff’s fault degree is greater than that of the defendant, they cannot recover any damages.
Statute of Limitations
The statute of limitations for personal injury and auto accident claims in Minnesota is generally two years from the date of the incident. This means that the victim must commence legal action against the at-fault party within two years of the injury or accident. Failing to file within this timeframe can result in losing the right to seek compensation.
Are Lawsuit Loans Legal in Minnesota?
Yes, lawsuit loans are legal in Minnesota. Prior to 2020, pre-settlement funding was considered unlawful and prohibited in the state of Minnesota. This was majorly a result of the Champerty doctrine, which prevented third parties from funding lawsuits. However, the Minnesota Supreme Court abolished this doctrine on June 3, 2020, ruling that litigation funding agreements are legal and enforceable.
This decision was a significant shift, allowing plaintiffs to access pre-settlement funding while their case is ongoing. This will provide the claimant with immediate funds to meet their various financial needs and achieve relief before their case concludes. The court’s ruling highlighted the benefits of litigation funding, such as helping plaintiffs cover living expenses and legal costs without the pressure of immediate repayment.
Eligibility for Pre-Settlement Funding in Minnesota
In order to become eligible for a lawsuit loan in Minnesota, you must meet the following criteria:
- You must have an active lawsuit with a reputable attorney.
- You must have a strong case with clear liability and potential for compensation.
- You must provide detailed case information for evaluation.
- Your case must qualify for lawsuit funding.
- You must agree to a consultation between the funding company and your attorney.
- Your attorney must consent to your lawsuit funding request and be ready to cooperate with our trusted experts to ensure a smooth process.
How to Apply for Lawsuit Loans in Minnesota
However, applying for our Minnesota legal funding doesn’t require having a job, a reliable source of income, or a good credit rating. Once you have a qualifying lawsuit and meet the eligibility requirements mentioned above, you may submit your lawsuit funding application. Follow the steps below to apply for a settlement loan:
Contact Us: Get in touch with our trusted representatives to notify us that you have a pending case and need legal funding. Our experts are available round-the-clock to speak with you.
Fill Out Your Form: Visit our user-friendly website to complete and submit your application forms. You only need to provide your basic information and submit some documents.
Submit Important Case Details: Submit important information about your existing lawsuit and your lawyer’s contact details.
Attorney Consultation: Our reliable experts will meet with your attorney to discuss your ongoing lawsuit. We will assess the merits of your case, your prospects of a successful verdict, and the amount of settlement you may possibly get.
You Wait for Approval: Our financial specialists will evaluate your lawsuit loan application and make the right decision about your eligibility and how much we can offer you. The decision-making is usually quick.
Receive Your Cash Advance: If you are approved for our Minnesota lawsuit loans, you will get your cash advance within 24 hours. The money belongs to you, and you can use it to meet your various needs, such as paying medical bills, debts, car loans, utilities, going on vacation, living expenses, and so forth.
Apply for Our Minnesota Lawsuit Loan Today!
Do you need immediate funds to help cover living expenses and meet your basic needs while your case is ongoing? Contact us at High Rise Financial today to learn more about our pre-settlement funding in Minnesota. Our dedicated team will educate you about the cases we fund, determine whether you qualify, and guide you through the application process. We proudly serve clients throughout the state of Minnesota.