Fair Lawsuit Settlement Offers
If you are searching for lawsuit funding because the defense is not willing to offer you a fair settlement for your claim, contact LawLeaf today. LawLeaf is a leading provider of pre settlement funding for clients that are unwilling to settle for less than the fair value of their case.
We receive dozens of questions on a weekly basis regarding the lawsuit funding process and many questions are directed towards fair settlement offers. While our company doesn't recommend or advise clients regarding fair or unfair settlement offers, we can provide you information on some items which should be considered during the settlement phase.
It is important to understand the difference of compensatory damages and punitive damages.
The items below are some of the losses which can be considered compensatory damages:
- Loss of Wages - Loss of wages can be determined by the amount of money you've lost from being out of work. If you have been out of work due to an accident you should consider this item in the value of your settlement. While sometimes it can be hard to determine the amount of money a person has lost from being out of work (depending upon your job ie. sales associate or positions that pays commissions and bonuses) your attorney should be able to advise you on how much money is owed to you.
- Ongoing Loss of Wages - If you are considering a settlement offer prior to going back to work, consider ongoing loss of wages. We have some clients that contact us because an insurance company is unwilling to pay for ongoing wage loss. This means a settlement offer is made however the settlement offer doesn't include potential ongoing costs for being out of work.
- Loss of Job - If you have lost your job because you no longer can perform the daily duties required by your position, you must consider this in the settlement offer. If you have to consider a new profession because you no longer can perform the duties required of you, consider those costs as well.
- Medical Expenses - These expenses include emergency room, ambulance ride, physical therapy costs, artifical limbs or teeth, cosmetic surgery, doctor & physical exams, costs of nursing and home care, hospital care, increase in medical premiums, laboratory fees, medical aids, medicines and drugs, nursing home expenses, X-ray's, transportation costs and transplants. These are examples of some of the expenses you must consider prior to a settlement.
- Ongoing Medical Expenses - These expenses include any potential costs that may incur for future medical needs. This is one of the most important items that should be considered prior to reaching a settlement. Once you've accepted and received compensation from an insurance company you can not legally recoup additional costs at a later date.
- Property Damages - If you have lost or damaged property as a result you are entitled to compensation for such damages. Example: A person is involved in a car accident and as a result the car has been totaled. The insurance company should be prepared to pay for damages of the car and damages to property inside the car.
- Loss of Consortium - A claim for damages when a spouse has been injured and as a result can no longer participate in sexual relations for a period of time or permanently.
- Mental Distress - Also referred to as emotional distress, a plaintiff may be compensated for mental distress when there has been a mental consequence resulting from an accident or injury.
- Pain & Suffering - A plaintiff may be compensated for personal suffering and pain. This may include burns, scars, loss of limbs etc.
- Loss of Enjoyment of Life - If the plaintiff has been severely injured and as a result has lost the ability to perform certain activities in life which were enjoyable, they may be fairly compensated for loss of enjoyment.
- Out of Pocket Expenses – These expenses may include transportation costs, food expense when traveling for therapy, hotel stays, rental cars or other items which you may incur as a result of the accident. It is important that you keep records and receipts of all expenses that you may incur.
Punitive damages are intended to punish the defendant for conduct which is considered reckless, wrongdoing or intentional. In addition to compensatory damages the victim may receive compensation for punitive damages as well.
Above is a list of the most common items you should considered when evaluating a fair settlement offer. It is important to understand that once you've accepted a settlement offer you can no longer recoup additional monies for the same claim later. This is very important when determining ongoing medical expenses. Most attorneys will require their client to go through the necessary rehabilitation prior to settling their case.
In some instances if a victim requires years or a of rehabilitation the attorney may make a recommendation on a much larger settlement amount in order to cover ongoing medical expenses.
It is important that prior to reaching a settlement with an insurance company you fully understand your legal rights to fair compensation. In order to receive compensation for a personal injury you may need to hire the representation of an attorney. Most personal injury attorneys represent their clients on a contingency fee basis meaning you only pay the attorney if you are successful in winning compensation.
If you are currently searching for a lawsuit cash advance because you are not in a position to wait for a fair settlement offer, begin by applying online with LawLeaf. LawLeaf can offer you a non recourse settlement loan meaning you don't have to repay the loan if you don't win your lawsuit.
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