pre-settlement funding in New Jersey include topics of the benefits of pre-settlement funding, comparative negligence, insurance limits for personal injury and auto accidents and who the some of the top attorneys in the state
are
Pre-Settlement Funding in New Jersey
When it comes to dealing with personal injury, medical bills, and other costs associated with pursuing a lawsuit, pre-settlement funding can be a practical and beneficial solution. Pre-settlement funding in New Jersey is an advance or loan to those who are pursuing personal injury lawsuits. In New Jersey, pre-settlement funding is offered to individuals who have successfully initiated a personal injury claim or lawsuit and are awaiting a settlement or jury award. Pre-settlement funding can help individuals pay costs associated with their case while they wait for a successful verdict.
In New Jersey, pre-settlement funding is regulated by the New Jersey Department of Financial Regulation. It is important to note that the state of New Jersey does not consider pre-settlement funding a loan, but rather a non-recourse advance. This means that if the plaintiff loses their case they are not liable to repay the advance.
Benefits of Pre-settlement Funding in New Jersey
The benefits of pre-settlement funding in New Jersey are numerous. It is often difficult for individuals to manage the costs associated with a personal injury lawsuit, including medical bills, attorney’s fees, and other associated costs. Pre-settlement funding can provide relief to those who are struggling to manage their financial obligations and to those who are not able to work during the process of the lawsuit. Pre-settlement funding allows those receiving such advances to focus on their case rather than their financial obligations.
Pre-settlement funding is also beneficial in cases where the defendant has limited resources and the possibility of a successful settlement is uncertain. In these cases, pre-settlement funding can provide the necessary capital to cover costs associated with the lawsuit, even if a settlement is not achieved.
Comparative Negligence in New Jersey
The state of New Jersey adheres to a comparative negligence model when it comes to adjudicating personal injury lawsuits. Pursuant to New Jersey’s comparative negligence model, both parties in a personal injury matter can be found to have partial responsibility for the injury or damages, resulting in a shared responsibility for compensation and damages. The amount of compensation and damages that each party is liable for is determined through a comparison of both parties’ contributions to the injury or damages.
The comparative negligence model determines fault based on the negligence of each party relative to the other, meaning that a plaintiff may receive some form of compensation even if they are found to be partially responsible for the injury or damages. In the event that the plaintiff is found to be more than 50% at fault for the injury, they are no longer eligible to receive any damages or compensation.
Insurance Limits for Personal Injury and Auto Accidents
In New Jersey, state minimum auto insurance requirements are defined under the Motor Vehicle Security Responsibility Law. Pursuant to the law, drivers must carry a minimum of $15,000 in bodily injury coverage per person, up to $30,000 per accident, and $5,000 of property damage liability (PDL) coverage.
In addition, individuals can elect to carry additional, optional coverage for further protection. This includes coverage for uninsured/underinsured motorist (UM/UIM), medical payments, and collision coverage. The additional coverage is useful in cases where the minimal coverage does not fully cover damages, medical costs, and other associated costs. It is important for drivers to be aware of their state’s minimum coverage requirements and to ensure they are properly covered in the event of an accident.
Top Attorneys in New Jersey
If you are in the process of filing a personal injury lawsuit in the state of New Jersey, it is important to have a top-notch legal team on your side. There are numerous qualified attorneys in the state of New Jersey who are able to provide expert advice and legal representation.
Some of the top personal injury attorneys in New Jersey include Mark Kalish, Kerry Schaffer, and David Mazie. Mark Kalish is a partner at New Jersey-based firm Kalish and Chwat, LLC, and specializes in matters related to personal injury and medical malpractice. Kerry Schaffer is the founding partner of Schaffer and Combs, and has a long history of successfully representing clients in personal injury litigation. David Mazie is the managing partner of Mazie, Slater, Katz & Freeman in Roseland, NJ, and is a top rated personal injury attorney in the state.
Whether you are seeking pre-settlement funding or a qualified legal team, there are numerous options available to those who are pursuing personal injury claims within the state of New Jersey. Pre-settlement funding can provide necessary financial assistance, while top attorneys in the state can provide expert counsel and representation. With their assistance, those who have sustained personal injuries may be able to navigate their case in the most effective and beneficial way possible.
