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lemont personal injury law firm Injury Compensation – How to Get the Compensation You Need

If you’re involved in an accident, it is normal to be worried about your financial situation. This is especially true if you suffer serious injury.

There are many options to obtain compensation for your injuries. These include economic and non-economic losses, like pain and suffering.

Economic Damages

Financial compensation is accessible to anyone who has been injured by the negligence of a third party. The purpose of this compensation is to help you recover from your injuries and get back to your pre-injury standard of living.

There are two kinds of monetary damages that can be granted in personal injury cases including economic damages as well as non-economic damages. The former is meant to compensate you for financial losses resulting from your accident, while the latter is designed to compensate you for the emotional pain that your accident has caused.

In many instances a judge or jury will award a victim economic damages to cover their lost wages, medical expenses and rehabilitation care as well as property damage costs like repair and replacement. This kind of damage is concrete in that it can be documented through receipts and pay stubs.

Negligent behavior by a defendant could result in a range of economic losses. These losses include:

– Loss of Earning Capacity

A victim may have a reduced earning capacity after being injured. They could be forced to find a job that pays less or even permanently disabled.

Future Earning Capacity

This is a difficult factor to determine since it is dependent on the nature, age, and trends of the victim’s job at the moment of the accident. One person could be young and have a promising job, or lawyers they might have an retirement plan.

Past Earning Capacity

This presents a challenge for juries as it requires a thorough analysis of the victim’s past employment and the potential earnings for the future. A victim could be a recent college graduate with a career in engineering.

– The victim may be unable to earn a living as well as other expenses like medical bills, car repairs, or out of pocket expenses for medication and therapy.

These expenses can add up to a significant amount of money. Add all of these costs to determine the extent of your economic losses could be will help you receive an appropriate settlement.

There are a myriad of factors which determine the exact amount of your economic damages, so it is important to consult with an experienced personal injury attorney who understands how these damages can be calculated and granted. Your lawyer can provide you with a list of all your current and future economic losses, and will also solicit the assistance of experts who can place the value of these damages in the process of calculating your compensation.