personal injury attorneys chicago - How to Get the Compensation You Need
It is normal to be concerned about your finances when involved in an accident. This is particularly true if the injuries you sustained are severe.
There are a variety of ways to obtain compensation for your injuries. They include economic damages and non-economic damages, such as pain and suffering.
Economic Damages
Financial compensation is open to all who have been injured as a result of the negligence of a third party. The purpose of this compensation is to aid you in returning to the lifestyle you had prior to your injury.
In personal injury cases, there are two types of monetary damages that you could get: non-economic and economic. The former is meant to compensate you for monetary damages resulting from the accident, while the second is designed to compensate you for the emotional burdens your injury has caused.
In many instances the court or jury will award a victim damages to make up for their lost wages, medical bills and rehabilitative treatment and property damage costs such as repair and replacement. The damages in this category is documented with receipts, bills, and pay stubs.
The negligent conduct of a defendant could result in a range of economic losses. These losses include:
- Loss of Earning Capacity
A person who is injured may suffer a lower earning capacity following an injury. They may have to accept a lower-paying job or even become permanently disabled.
- Future Earning Capacity
This can be a challenge to determine since it relies on the victim's age, the industry and the current trend at the moment of the accident. A person could be young and their career on the rise, or they might be 58 and have a full retirement plan ahead of them.
Past Capacity for Earning
This poses a challenge for jurors because it requires a detailed analysis of the victim's history of employment and future earnings. A victim may be a recent graduate who has a career in engineering.
- In addition to lost earnings, the victim could have had other expenses like medical bills, car repairs and even out-of-pocket costs for therapy or medication.
These expenses can be significant and can add up to an amount of money. Compiling all these expenses to figure out the extent of your economic losses could be will help you receive a fair settlement.
There are many variables which determine the exact amount of your financial damages, which is why it is important to consult with an experienced personal injury lawyer who knows how these damages are determined and determined. Your lawyer will provide you with a comprehensive list of the economic losses you have suffered and help you identify experts who can assign a value to these damages in order to determine your compensation.
