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Personal Injury Compensation - How to Get the Compensation You Need
When you are involved in an accident it is normal to be concerned about your financial situation. This is particularly true if your injuries are severe.
Fortunately, there are ways to receive compensation for your injuries. This includes both economic and non-economic damages such as pain and suffering.
Economic Damages
If you are injured as the result of the negligence of another you are entitled to financial compensation. This compensation will aid you in recovering from your injuries and get back to the same standard of living.
In personal injury law firm lowell , there are two types of monetary damages that you could get: non-economic and economic. The former is meant to compensate you for financial losses resulting from your accident, while the second is designed to pay for the emotional trauma that your accident has caused.
In many instances the court or jury will award a victim damages to compensate for their lost wages, medical bills and rehabilitative care as well as damages to property, such as repair and replacement. The damages in this category can be documented with bills, receipts and pay stubs.
A defendant's negligence can lead to a number of different economic losses. These losses include the following:
Loss of Earning Capacity
A victim may suffer a lower earning capacity after being injured. They may be forced to take a lower paying job or even permanently disabled.
Future Earning Capacity
This is a difficult factor to calculate since it is based on the age, industry and trend of the victim's job at the time of the accident. A person could be young and have a career that is growing, or they could be 58 and have a complete retirement plan.
- Past Earning Capacity
This also comes with a challenge for juries, as it requires a thorough investigation of the victim's previous employment history and the possibilities for future earnings. For example, a victim may be a recent college graduate with a promising career path in engineering.
In addition, to the loss of wages, the victim could have incurred other expenses like medical bills, car repairs and even out of pocket expenses for therapy or medication.
These expenses can add up to a substantial amount of money. Add all of these costs to figure out what your financial damages could be will help you get an equitable settlement.
There are many variables that affect the exact amount of your financial damages, which is why it is important to speak to an experienced personal injury lawyer who is aware of how these damages can be determined and given. Your lawyer will be able to give you a list of all your current and future economic losses, and also seek the help of experts who can establish a dollar value on these losses for the purpose of making your compensation.