Before you can make any type of decision, you need to have the facts. But, in many personal injury cases, insurance companies pressure plaintiffs to settle before the plaintiffs really have an idea of what their case is worth. After you’ve been injured, there can be a number of forces pressuring you to take the first amount offered to you. You might have been unable to work while having daily expenses to pay and medical bills from your accident to cover. Figuring out the value of your case can help you make the right decision between settling or going to court.
What You Need
Right after an accident, you need to start piecing together the facts. Doing so will help your attorneys figure out if you have a good case, and, if you do, what your case might be worth. It’s important to give your attorneys all of the information you have about your injury, the medical bills associated with it, estimate of lost wages and the cost of any other damage.
It’s also important to give your lawyers all the information about your injuries or medical history. For example, if you suffered whiplash in an accident, have you had neck or back problems before? If so, the insurance company might try to argue that your injuries are due to a pre-existing issue, not a result of the accident. It’s also important to let your attorney know if you could be found liable in any way for the accident, as that can affect the amount of your settlement.
Breaking Down the Damages
Once your attorney has all of the details about your case, he or she can usually give you a fair estimate of what you can expect if you take your case to trial and win. Depending on the specifics of your case, the damages might include the cost of medical treatments, loss of income, the cost of emotional distress and pain and suffering.
In some cases, it can take a fair amount of time to calculate the cost of the damage from an injury. For example, you might think that your medical treatment is finished, only to have a flare-up or other issue down the line, which increases the cost of the accident. Or, you might expect to be out of work for a month, but end up needing to take more time off, which can affect the amount of money you need for lost wages. That’s why it’s important not to rush and take the first amount you’re offered – it might not be close to what your case is really worth.
Who You Can Trust
Your attorney will work to figure out the value of your case and should be a trusted source for information about whether to settle or whether to take the lawsuit to court. It’s important that you trust the advice of your attorney over the input from the insurance company. Your attorney is looking out for your best interests, while the insurance company is looking out for the bottom line. It’s often in your best interest to not take the initial settlement offer and give your attorney time to get you a fair settlement.
If you are having trouble making ends meet or paying your medical bills, you might feel pressure to settle and take the lower amount, just to have cash in the bank. Pre-settlement funding is designed to help tide you over until you receive the cash from your settlement. It’s a cash advance for up to 15% of the anticipated amount of your settlement. It is not a loan and only needs to be paid back if you win. To learn more about pre-settlement funding, contact the team at Cherokee Funding today.
