Personal Injury

Factors that Affect the Value of Your Personal Injury Settlement

If you’ve been harmed at the hands of another individual, you may find yourself seeking compensation through a lawsuit. This can be a trying time that will demand your attention. Dealing with a situation of this magnitude can be emotionally, physically, and financially draining. Though the chances of obtaining a legal settlement are good, many factors that will ultimately have a significant impact on the final payout.

Lost income

One of the items that will play a role in the amount you receive is the time you missed from work. If you’ve suffered a severe injury, it may take weeks to recover or longer. This will translate to an extensive period that you simply won’t get paid.

Medical expenses

Obtaining the proper treatment is the key to healing. You may need to make numerous visits to the doctor, and it may even be necessary to have surgery. Other medical costs you may face include physical therapy and pricey prescriptions. The number of medical costs you have will largely determine your settlement amount.

Pain and suffering

It can be extremely hard for your mental health to endure a personal injury. Whether it was intentional or not, you’re likely to have a significant amount of pain. In fact, accidental injury is the third leading cause of death in the United States.

Physical pain can take time and effort to heal from and will likely require extensive medical treatment. You may need to try to provide evidence of the amount of pain and suffering you’ve endured.

Studies indicate the average amount of a personal injury settlement is about $24,000 in the year 2013. Keep in mind that much of this figure could be because of the emotional distress the injury has caused.

Permanent disability

If your injury leads to a stable disability situation or causes a bodily disfigurement, this will have a massive effect on how much money you will get. Not being able to work or enduring a poorer quality of life because of your injury will affect your payout drastically.

You’ll want to consult with the medical experts in your area to provide proof that you are permanently disabled. Keeping the necessary records of your accident from day one is the ideal way to make this possible and less challenging to do.

Loss of family time

Having a family is one of the greatest pleasures in the world. Being part of a family can make you feel loved, appreciated, and respected.

Doing things together can increase your quality of life and help you feel your best. However, if your injury has caused you to spend time away from your family, this might be something that your Halifax injury lawyer will consider.

It’s essential to be compensated for the loss of this vital time with the people you love. Of course, this may be priceless to you.

Going through a legal battle can be time-consuming and costly. Working to recover the money you’ve spent and the losses you’ve incurred is likely to be foremost on your mind. You can get through this life event challenge when you take the right steps and realize what factors will influence your settlement. Taking charge of this situation is one of the first things you should do and work to get started on your case sooner rather than later. You can overcome this financial catastrophe by being proactive and having the right mindset.

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