After an accident has taken place, its victim may be entitled to substantial recompense in terms of both actual out-of-pocket expenses as well as noneconomic losses such as pain and suffering which are more difficult to quantify than others.
Personal injury cases depend heavily on the individual case and insurance coverage of both defendants. Most commonly, auto liability policies cover medical expenses and property damages.
Insurance
Many individuals fear legal action against personal injuries for fear of financial ruin; however, most defendants in personal injury lawsuits–whether Boston car accidents, slip and falls, medical malpractice, wrongful deaths or others–have insurance that covers damages due to negligence. Your lawyer can help file a claim with their insurer and seek maximum compensation on your behalf. Victims may also pursue compensation through their own UM/UIM coverage (if available) as well as government entities like towns/cities failing to maintain roads properly or drinking establishments violating dram shop laws.
An award or court judgment from a jury or court determines how much compensation must be awarded from negligent parties, but that doesn’t guarantee immediate payment – especially since some may lack the means or stall before finally complying because they know it will come under pressure from courts to pay up.
Judgments
Many individuals avoid personal injury lawsuits for fear of financial ruin; however, most cases can be settled outside of court with experienced legal teams helping negotiate a settlement or argue your case in court to obtain you compensation – including money for medical bills, lost wages, property damage and pain and suffering. Furthermore, punitive damages may be awarded against defendants for gross negligence and wanton disregard of your safety; IRS taxes these funds as income.
As soon as the judge hands down a judgment, the defendant becomes your creditor and is required to pay you back. Unfortunately, collecting that judgment can be more challenging than expected: they might dispute or devalue your claim or hide assets that make collecting difficult. Thankfully there are ways of enforcing judgments like wage garnishment and seizing assets; an experienced personal injury attorney can help with these strategies.
Liens
Personal injury court awards are final decisions by juries or judges regarding how much the negligent party owes the injured party in damages, unlike settlements where compromise or agreement between parties may take place.
Suing requires significant investments of time and resources for both the plaintiff and their legal team; however, many personal injury cases settle before trial commences.
Personal injury cases may be heard in small claims courts, which limit the damages recoverable; other cases are heard before circuit or superior courts which offer wider jurisdiction and more complex proceedings.
Prosper Shaked Accident Attorneys PA employs the contingency fee model of personal injury representation, meaning they only receive payment when funds have been recovered for their clients. When such funds have been recovered, fees are deducted from any settlement, verdict or arbitration award before returning any leftover sum to anyone with established liens on the file, such as medical providers with outstanding bills or lenders providing treatment financing.
Enforcement
Taxation may apply to compensation you receive in a personal injury suit depending on the types of damages awarded, such as medical expenses, lost wages or pain and suffering payments. Furthermore, punitive damages, which are awarded against defendants who demonstrate particularly negligent or intentional behaviors, may also be subject to federal and state taxes.
Personal injury cases often settle out-of-court, saving both parties both time and expense. But some cases must go to trial; having legal assistance to assist in either negotiating an equitable settlement agreement or representing you before the court may prove invaluable in such instances.
Personal injury lawyers typically operate on a contingency fee basis, meaning they only get paid once they successfully recover a settlement, verdict or award for their clients. This arrangement reduces financial risks involved with legal actions while still permitting defendants to avoid bankruptcy protection by refusing to comply with court judgments.