pre-settlement funding in Rhode Island 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
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Pre-Settlement Funding in Rhode Island
The small state of Rhode Island is home to a rich legal system and offers a variety of legal services and resources to those seeking justice in their personal injury claims. Pre-settlement funding, also known as a lawsuit loan, is one of these services that can be incredibly beneficial to both plaintiffs looking to receive a much-needed financial boost and attorneys who need to cover expenses while awaiting a settlement. In this article, we will go over the benefits of pre-settlement funding, comparative negligence, insurance limits for personal injury and auto accidents, and some of the top attorneys in the state of Rhode Island.
What is Pre-Settlement Funding?
Pre-settlement funding, also known as a lawsuit loan, is an advance of cash to people involved in a personal injury lawsuit. Funding can be given directly to the plaintiff or plaintiff’s attorney. These types of loans are often referred to as “non-recourse” because the borrower is not obligated to repay the loan even if they lose their case.
The amount of pre-settlement funding depends on the merits of the case and the total expected settlement. The more likely it is that the plaintiff will win their case, the higher the amount of funding they will be eligible to receive.
Benefits of Pre-Settlement Funding
Pre-settlement funding offers plaintiffs a number of advantages in their legal proceedings. First and foremost, it provides plaintiffs with a much-needed financial boost at a time when they may be unable to work due to illness or injury. This money can be used to pay for medical bills and living expenses. Additionally, this funding helps open the door for plaintiffs to make an informed decision about their case, rather than being forced to accept a lower settlement because of financial strain.
Additionally, pre-settlement funding offers attorneys a way to pay for expenses that may be incurred during the lengthy court proceedings. These expenses can include evidence gathering, expert witnesses and other court costs that can quickly rack up.
Comparative Negligence
In the state of Rhode Island, the doctrine of comparative negligence is in place. This doctrine is used to determine liability in cases involving more than one party. In order for a plaintiff to receive compensation, they must demonstrate that the other party is more to blame than them. This doctrine is important when filing a personal injury claim in Rhode Island, as those who are more than 50% to blame in the accident cannot bring a claim.
Insurance Limits
Those filing personal injury claims in Rhode Island must be aware of the insurance limit. In Rhode Island, the minimum liability coverage for motor vehicle policies is $25,000 per person and $50,000 per accident. It should be noted that if multiple passengers are in the same vehicle during an accident, the total payable for any single passenger may not exceed $25,000.
In the event a personal injury claim is filed and the defendant is unable to pay for damages, additional coverage may be available. Rhode Island’s Uninsured/Underinsured motorist coverage is mandatory on all motor vehicle policies, but policyholders can opt out of this coverage if they choose to do so.
Top Attorneys in Rhode Island
Those seeking legal help in Rhode Island should look no further than these top attorneys:
• Matthew Marasco – Marasco & Nesselbush Law Offices, LLC
• John MacDonald – MacDonald Law Group, LLC
• Stephen Staples – The Staples Law Firm
• Travis K. Hastings – Hastings Law Group
• Gretchen Johnson – Johnson Attorneys Group
Conclusion
Pre-settlement funding is an invaluable resource for plaintiffs and attorneys in personal injury claims. Additionally, filing a personal injury claim in the state of Rhode Island involves an understanding of liability and insurance limits. Finally, for reliable legal advice, top attorneys such as Matthew Marasco, John MacDonald, Stephen Staples, Travis K. Hastings, and Gretchen Johnson are excellent resources.
