pre-settlement funding in Oklahoma 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 and what areas they specialize in

Pre-Settlement Funding in Oklahoma

Pre-settlement funding is a process in which individuals who have sustained injuries in an automobile or personal injury accident can receive money before their case is settled or adjudicated. This type of loan may help those who need funds to pay for medical bills, living expenses, or other necessities while they wait for the conclusion of their legal case. Pre-settlement funding is an option open to individuals in Oklahoma, with specific laws and regulations governing the process. This article will provide an overview of pre-settlement funding in Oklahoma and discuss the benefits of the process, insurance regulations, and the top attorneys who specialize in this area.

What is Pre- Settlement Funding?

Pre- settlement funding, which is also known as lawsuit funding, is a type of loan that is typically provided to individuals who have sustained permanently damaging injuries from an automobile or personal injury accident. Injury victims may have a legal claim for damages, but it can take several months or more for the case to settle or for the injured person to receive any money. In such cases, pre-settlement funding can provide a much-needed cash advance.

In Oklahoma, pre-settlement funding lenders typically have specific requirements for providing funding. A plaintiff must have a valid personal injury or automobile accident case that is pending judgment, was filed in an appropriate venue, and has a viable claim for damages. The plaintiff must provide paperwork to the lender to demonstrate that there is a valid claim. In addition, the lender typically conducts an assessment of the risks associated with providing funding, including the value of the claim and its prospects for success.

Benefits of Pre- Settlement Funding

Pre-settlement funding can provide many benefits to injury victims in Oklahoma. First and foremost, it can provide a financial lifeline to individuals who need funds to pay for medical expenses and living expenses while waiting for their case to be resolved. This can be especially important to those who were severely injured or who have incurred significant medical bills. Second, pre-settlement funding can provide financial relief to individuals who have lost their employment due to the accident, but cannot qualify for traditional loans. Finally, pre-settlement funding may enable an injury victim to pursue aggressive legal representation, as the funds can be used to cover the cost of hiring an attorney.

Comparative Negligence

Under Oklahoma law, when multiple parties are found to be at fault in an accident, comparative negligence is used to determine the amount of damages that each party may be liable for. This type of negligence is commonly used in automobile and other personal injury accident cases. It is important to note that a plaintiff’s recovery can be reduced by his or her own degree of fault.

In Oklahoma, the comparative negligence rule applies to automobile accident claims. This means that if both parties contribute to an accident, the total compensation may be apportioned according to their degree of fault. For example, if one party was determined to be 20% at fault and the other was 80% at fault, the party found to be 80% at fault would be liable for 80% of the total compensation amount.

Insurance Limits for Personal Injury and Auto Accidents

Oklahoma’s insurance laws require all motor vehicles to be insured in accordance with the compulsory insurance requirements of the state. These mandatory requirements include a minimum amount of coverage for bodily injury, property damage, and uninsured motorist coverage. The minimum required coverage amounts vary depending on the type of vehicle involved. There are also limits on the amount of liability coverage provided by an insurance policy, and these limits can vary greatly depending on the type of policy and the insurer.

In addition to the compulsory insurance requirements, Oklahoma law regulates the amount of coverage that can be obtained through an insurance policy. For instance, an individual can only obtain up to $2 million in coverage for bodily injury and another $2 million in property damage coverage. If a claim is expected to exceed the coverage limits, pre-settlement funding may be obtained to help cover the costs of any damages beyond the limit.

Top Attorneys in Oklahoma

Oklahoma’s legal system is filled with experienced attorneys who specialize in personal injury and auto accident law, as well as pre-settlement funding. Some of the top attorneys in the state who specialize in these areas include:

• Norman E. Grey, Jr. – Norman E. Grey, Jr. is an experienced attorney located in Tulsa, Oklahoma, with an extensive background in personal injury law and pre-settlement funding. He has won numerous awards and has helped many individuals receive enough funds to cover their medical bills and living expenses while their personal injury cases were ongoing.

• David R. Sands – David R. Sands is a respected attorney located in Oklahoma City and serves clients throughout the state. He has received numerous awards for his work and is widely regarded as one of the top personal injury and auto accident attorneys in the state.

• Sarah P. Davis – Sarah P. Davis is an experienced attorney who is passionate about helping those who have suffered from devastating injuries obtain the funds they need to pursue justice. She has a specialty in pre-settlement funding and is widely known throughout Oklahoma for her expertise in this specialized area.

Conclusion

Pre-settlement funding can provide a valuable option for those in Oklahoma who have sustained devastating injuries in an automobile or personal injury accident and need to access funds while their cases are ongoing. This article has provided an overview of pre-settlement funding in the state and discussed the benefits of the process, insurance regulations, and the top attorneys who specialize in this area. Whether you or a loved one need support while waiting to receive funds from a legal claim, pre-settlement funding may be a viable option.