Understanding Lawsuit Cash Advance Regulations in Ohio

Regulating Pre-Settlement Funding Ohio's pre-settlement funding is governed by Ohio Rev. Code Ann. § 1349.55, mandating that litigation finance companies declare their non-involvement in the control of personal injury cases. However, the state does not regulate the fees, interest, or duration of these fees.

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Average Case Funding in Ohio, the average funding from SunCoast for a case varies and may reach up to $2,000,000, depending on the specifics of the lawsuit.

 

Fault Laws in Ohio Under Ohio's Modified Comparative Fault law (Ohio Rev. Code Ann. § 2315.33), a plaintiff's chance of recovery can be nullified if they are found to be more liable than the defendant.

 

Statute of Limitations Ohio has a statute of limitations of 2 years for filing a lawsuit (Title 23, Ch. 5, Sec. 2305.10).

 

Insurance Policy Minimums The state mandates minimum policy limits of $25,000 per person, $50,000 per accident for bodily injury, and $25,000 per accident for property damage.

 

Uninsured/Underinsured Motorist Coverage Ohio requires a minimum liability coverage of 25/50/25 for Uninsured/Underinsured Motorist Coverage (UIM).

 

Workers’ Compensation Cases Ohio does not permit workers’ compensation cases to qualify for lawsuit cash advances.

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Criteria for Ineligibility Applicants who have sought a cash advance for the same case with another provider will not qualify for financial support from SunCoast.

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Legality of Pre-Settlement Funding in Ohio

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Wondering if it sounds too good to be true? Rest assured, pre-settlement funding is entirely legal in Ohio, governed by Ohio Revised Codes (ORC) §1349.55. This law ensures transparency by mandating the disclosure of specific information to you, safeguarding against any unfair practices. It also outlines the essential elements for a contract to be considered valid.

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Pre-settlement funding is accessible throughout Ohio, from Cleveland to smaller communities across the state. AARC is prepared to assist you wherever you are.

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No Credit Check Required for Legal Funding SunCoast Legal Funding offers legal funding ranging from $500 to $1,000,000 to plaintiffs in Ohio. The key factors for this funding are based on the specifics of your lawsuit, as the collateral—and therefore the risk—is linked to your potential compensation. When applying, this means:

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• NO credit check is required.

• NO need for bank statements.

• NO proof of income is necessary.

• NO intrusion into your financial privacy.

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Our focus is on the details of your lawsuit, ensuring a smooth and private process for securing your funding.