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It's All About The Money: Your Personal Injury Case And Compensation

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While dollars and cents cannot make your injuries go away, that fact should not be taken to mean that you should not be entitled to receive every single penny that you deserve from the at-fault driver that caused your accident. Getting compensated for your accident is all about the money, since that is the only means you have of "being made whole" by the insurance carrier. While you work on getting better, get a bit more familiar with what exactly you can expect, financially speaking.

Where will the money come from? From your first meeting with your attorney, you can rest assured that the availability of funds to pay you is at the forefront of your attorney's decision to represent you. If there are no funds to pay a settlement or lawsuit, there is simply no need to file suit. Personal injury attorneys often work on a contingency fee basis, meaning that they take a percentage of the compensation you receive as their pay. You can consider your attorney's agreement to represent you not only evidence that there will likely receive compensation, but that you have a case worthy of pursuing from the perspective of the attorney.

Most people have automobile insurance, though the amounts available can be limited. In some cases the driver may have their own assets available for potential compensation, such as property or money in the bank. Some investigation may need to be accomplished to determine what funds may be available to pay the settlement or a lawsuit judgment.

Save some money by settling outside of court. Taking a case to court can be expensive for both sides, so the urge to settle the case before the trial begins affects everyone. The longer the personal injury process drags on, the more it can cost. There are two major points where a settlement offer could come, although it's important to keep in mind that these offers may occur at any time.

1. The demand letter: This letter is sent soon after you decide to file suit, and it lets the other side know a few facts about your case and how much money you are asking for to settle the case. It includes a listing and summary of reasons the other party is at fault and the evidence to support that allegation. It also includes a summary of your medical and other expenses so far.

2. The deposition: This pretrial meeting takes the demand letter a step further and consists of all parties giving sworn testimony about the case. Once the other side sees your case, they may be compelled to create an offer to settle.

Speak to an attorney at a law firm such as the D Chadwick Calvert Law Office for more information.