How Does A Complete Accident Settlement Look?

The advertisements you see might indicate that all accidents result in million-dollar payouts. On the other hand, you may have personal knowledge of a victim that was paid only about $10,000 for an accident that left them in pain for months. The real figure accident victims can be paid is based on several factors and varies widely. The difference in a settlement that is adequate and one that barely pays the bills can come down to these factors explained below.

How You Choose to Deal With the Case

Undoubtedly, the biggest factor in the amount of compensation a victim ends up with depends on how they approach the case. It's all too easy to accept the settlement the at-fault driver's insurance agency offers you. Many victims see the check offering them thousands of dollars and sign the release. It's only natural. Many victims are dealing with bills due to not working, pain from the accident, a wrecked vehicle, and more. However, when you stop and speak to your own personal injury lawyer, things can change. Having an experienced lawyer to help you with your case makes a huge difference in what you are paid.

Your Medical Treatment Costs

Another big factor in how much compensation you get is based on your medical bills. Higher bills usually go along with more serious injuries. Once you begin talking about high medical bills, you are looking at being paid for your pain and suffering. Pain and suffering is not usually offered by the insurer — at least, not until you get legal representation. Medical costs translate to pain and suffering using two general methods though that can vary. Here is an example of two common methods:

Using Factors: Your medical expenses are multiplied by a factor between 1.5 and 5. The factor corresponds with the seriousness of your medical needs. For example, if your medical bills equal $100,000 and your factor is 2.5, you could be paid $250,000 in pain and suffering alone.

Using Time: The days you have suffered from injuries since the accident are multiplied by a daily rate. For example, if your accident took place a month ago and you are still suffering, your pain and suffering could be $300,000 based on a daily rate of $10,000 per day.

Speak to a personal injury lawyer and they will take care of the rest of the factors. This way you may get a generous compensation package.

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Learning About Bankruptcy Without The Stress

If you have bills that you can't pay and your phone is ringing off the hook with debt collection calls, you may be considering bankruptcy. If this scenario sounds familiar, a bankruptcy attorney can help. You don't need more stress in your life than you already have. When you speak with an attorney, you can get the necessary paperwork filled out and the collection calls will stop. Hello, my name is Francis and I know exactly how you feel. When I found myself in serious debt and no way to pay back my creditors, I was in a panic. After talking with an attorney, my mind was at ease because I knew that this nightmare would soon be over. As you read my blog, you'll learn what to expect when filing bankruptcy. Since I know how stressful this can be, I wanted to help others who are in this situation.