Lawsuit Loans in Maine
Rapid Lawsuit Funding provides pre-settlement loans for anyone in Maine that has been a victim of personal injury on the road or at work. Our loan helps you take care of your family as you wait for the best settlement possible.
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- Qualify quickly
- Payback only when you win
- Get cash in 24 hours
- Low rates for payback
- Get expert guidance 24/7
Are you grappling with financial hardship in Maine as you wait on pending personal injury lawsuit?
You are not alone. Thousands of plaintiffs with pending personal injury lawsuits find themselves financially strained during the trial. The trouble is that personal injury lawsuits tend to stretch on for weeks and months, during which one’s financial reserves can get depleted, especially if they are no longer able to work because of the personal injury in question.
Even when you win the lawsuit, getting your compensation can take longer than expected. As common with cases involving insurers, there is always a significant delay in paying plaintiffs as insurers extend negotiations to tire out plaintiffs and have them accept low pay. If you don’t watch out, your precarious financial situation can force you to take a low payout after waiting so long.
Rapid Lawsuit Funding solves this problem for you with its lawsuit funding options. We offer you a loan in the form of a cash advance that you can use to cater to your immediate financial needs as you wait for your settlement. With your immediate needs solved, you can then wait out for a more significant compensation.
You can apply for our loan at any stage of your lawsuit. Our application process is fast and easy. Successful applicants receive their cash in less than 24 hours. Our experts are also always on hand to help guide you through the process whenever you need them.
Maine Pre-Settlement Funding Requirements
- No Background Credit Checks
- Rapid Lawsuit Funding does not look into your credit history or consider it in order to offer you a cash advance.
- Simple Application Process
- Our application process takes mere minutes, and all we need is a conversation with you to fill out the paperwork.
- Only Pay Back When You Win
- Rapid Lawsuit Funding’s pre settlement loans are non-recourse, which means that if you lose your lawsuit, you don’t have to pay back our cash advance.
Current Laws and Regulations on Lawsuit Funding in Maine
Lawsuit Funding Guidelines in Maine
Average Funding per case from Rapid Lawsuit Funding: N/A
Fault Laws: The plaintiff’s negligence will reduce modified Comparative Fault – 50% Bar Damages attributed to defendants. 14 M.R.S.A § 156.
Statute of Limitations: 6 years. Title 14, Part 2, Ch. 205, Sub 1, Sec. 752
Minimum policy limits for bodily injury & property damage: $50,000 bodily injury liability per person $100,000 bodily liability injury per accident $25,000 property damage liability per accident $2000 medical payments coverage
Minimum UIM auto insurance limits: Liability: 50/100/25 UM/UIM BI: 50/100 Medical payments: $2000
Workers compensation eligibility: Not Eligible
State law in Maine recognizes legal funding and allows for lawyers to advise their clients to seek it if they need it. Legal funding third parties are also identified, and the industry is regulated to protect individuals.
The state of Maine requires all third party funders to register with the state before giving out any loans to plaintiffs. This is part of the state’s attempt to regulate the legal funding industry. Rapid Lawsuit Funding is fully registered with the state of Maine as a legitimate third-party funder.
Even better for plaintiffs like you, third party funders in Maine are required to be fully transparent with their customers regarding the legal backing they provide. According to the Maine Consumer Credit Code of Legal Funding Practices, third party funders such as Rapid Lawsuit Funding must be clear, in their contracts with plaintiffs, about all fees and payments and business processes. They should also allow plaintiffs five business days from the day of receiving funding to cancel the agreement. Additionally, all signed contracts must be accompanied by written acknowledgment of the plaintiff’s lawyer confirming knowledge of the contract.
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Maine Personal Injury Law and How it Affects Legal Funding.
Unlike some states with very limited windows in their statute of limitations, Maine allows six years in its statute of limitations for filing a personal injury claim against a third party. Victims are therefore allowed up to 6 years from the day of sustaining an injury to ask for compensation from a court of law. Beyond that time period, the court case will not be considered.
If a plaintiff wishes to sue the state, a city in Maine or the state government agency, they have six months or 180 days to file a formal claim in Maine’s civil courts and up to 2 years to file a lawsuit. Beyond that time period, the case may not be heard in court.
Courts in Maine follow the modified comparative fault doctrine to assign fault when calculating damages and compensation. This means that each party to the suit gets a certain percentage of the blame and pays for that percentage. If a plaintiff is found by the jury or judge to be about 15% responsible for the personal injury received, that 15% will be deducted off the defendant’s fault, leaving it at 85%. Consequently, the defendant will only pay 85% of the damages to the plaintiff. The limit comes at 50% fault for the plaintiff, at which they will have to forfeit any compensation because they’ll have been found equal in fault with the defendant.
Dog owners are also liable for any injuries their pets might inflict on other animals and humans. This means that you can press charges against a dog owner seeking compensation for any injury triggered by their dog in Maine and we can fund your lawsuit.
The state of Maine does not usually cap damages in personal injury cases, according to state law. However, in unique situations such as wrongful death suits, non-economic damages such as pain, suffering, and inconvenience are capped at $500,000 within the state.
For victims of car accidents, Maine state law allows plaintiffs both the courts and insurer options. Those involved in auto accidents can either seek compensation through the relevant insurance authorities or go to court for the same purpose. There is no rule against taking your personal injury claim to court first.
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Top Personal Injury Lawyers in Maine
If you intend to file a personal injury suit in a Maine court, there are hundreds of talented lawyers in the state willing to represent you and get you the compensation you deserve. Some of the most notable ones include:
- Steven J. Mogul
- 23 Water Street, Suite 400
- Bangor, ME 04401
- Walter McKee
- 133 Slate St
- Augusta, ME 04330
- Peter Thompson
- 92 Exchange Street
- Portland, ME 04101
- Timothy R. O’Donnell
- 112 Silver St
- Waterville, ME 04901
- Bill Hardy
- 186 Lisbon St
- Lewiston, ME 04240
Car Accident and Fatality Statistics in Maine
According to data from the Fatality Analysis Reporting System (FARS) of the United States Department of Transportation, the state of Maine recorded 172 deaths from fatal crashes in 2017 alone. The deaths resulted from 163 fatal auto crashes, resulting in 12.9 deaths per 100,000 members of the population.
The data also shows that only 37% of the accident victims were car occupants, while 49% were involved in accidents involving multiple vehicles. Only 22% of crashes occurred in urban areas of Maine while the rest happened in the state’s rural sections.
Rapid Lawsuit Funding provides lawsuit funding for anyone looking to sue after sustaining a personal injury in an accident in Maine. We back a myriad of accidents including these below:
- Car accident
- Pedestrian accident
- Tractor-trailer accident (truck accident)
- Bus accident
- Bicycle accident
- Motorcycle accident
Get more information on our lawsuit loans for plaintiffs in Maine from one of our experts today.
Maine Lawsuit Funding FAQs
How do I qualify for a pre-settlement loan in Maine?
Anyone that has sustained an injury from a third party in Maine is eligible for a lawsuit loan from Rapid Lawsuit Funding. You should be planning to sue, seek compensation, or be in the process of doing so for us to consider backing you with a loan. If you fall under any of these categories, talk to us for a free application.
What is the difference between a cash advance and a lawsuit loan?
There is no significant difference between a cash advance and a lawsuit loan. We call it a lawsuit loan in the legal sense, but it is essentially just a cash advance. Our cash advance is designed to help you settle your existing bills so you can wait comfortably through negotiations for your settlement or a court trial. Our cash advance is non-recourse, so you don’t have to pay us back if you lose your lawsuit.
Are there any specific guidelines on how I must spend my lawsuit loan?
Rapid Lawsuit Funding does not impose any guidelines on how you spend your cash advance. We hope that it can cover your current costs as you wait out your trial or negotiations with your insurer. Some plaintiffs use it to cover their current medical bills resulting from their personal injury, while others pay off utility bills and take care of immediate family needs. Whatever you choose to use your cash advance for is up to you.
How and when can I pay back your lawsuit loan?
Our loan repayment terms are covered within the agreement we sign between you and us. You get to pay back your loan only when you win your personal injury lawsuit. We take a share of your compensation at the agreed-upon interest rate, which is the lowest in all of Maine.
Can I get a lawsuit loan in Maine without my lawyer’s knowledge?
You can get a lawsuit loan in Maine without your lawyer’s knowledge, but it is not recommended. The state of Maine requires that third party funders like Rapid Lawsuit Funding get written acknowledgment from a plaintiff’s counsel before endorsing a lawsuit loan. This means that even if you don’t inform your lawyer, we have to tell him so that he will know either way. It’s better to get your lawyer’s guidance first before you apply for a lawsuit loan.
Apply for a pre-settlement loan in Maine now!
Rapid Lawsuit Funding offers the best lawsuit funding you’ll find in all of Maine. With our extensive knowledge of Maine legislation, you can count on us holding on your hand till you receive the settlement you really deserve. Our experts are always on hand to answer any questions you might have.
Talk to one of our experts at (800) 581-7202 today to get your lawsuit loan today!
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If you still have any questions:
Talk to one of our experts at (800) 581-7202 to get any answers you need, whenever you need them.