How Much Is My Lawsuit Worth?
How much is my lawsuit worth is quite possibly the most common question injured accidents victims have but it is also one of the most complex questions to answer. There is no single formula that one can use; however, there are several factors to consider in estimating a fair and reasonable value for either settlement or trial.
First, if you have a new case, or accident injury, it is probably too early to access how much the case it worth. If anyone should tell you exactly how much your case is worth before you have been properly diagnosed by a medical doctor and before an investigation has concluded, they are probably doing you a great disservice.
The amount of money each person receives for his or her lawsuit, if any, will vary from case to case. And, the amount of compensation you will receive for your lawsuit will always depend upon the individual factors surrounding your case. Several factors go into properly evaluating a personal injury lawsuit, and they are: Liability; Your Injury; Amount of Insurance Coverage; and Your Credibility.
Is liability clear? Is it a direct rear-end collision? Or is it a more complex collision, which is often the case? When assessing liability, the question one should ask is: Did someone negligently or intentionally cause you harm through their action or inaction? A classic example of clear negligence in a car accident would be a driver of car hitting your car in the rear while you were stopped at a red light. However, most accidents are not clear-cut and liability can be more complex. For you to recovery monetary for your personal injury lawsuit case claim, you will have to prove through convincing evidence and testimony that the defendant was at-fault for the accident.
A paraplegia or wrongful death lawsuit case is worth considerably more than a neck or back strain. In order to collect money from the insurance or the defendant, you must have sustained and prove your injury or damages? Damages that are typically associated with personal injury include general damages and special damages; however, there are other types of damages. General damages compensate you for such things as pain and suffering, loss of companionship, and loss of reputation. And, special damages compensate you for actual quantifiable monetary losses such as lost earnings, medial bills, and economic damages.
Just because you were involved in an accident that was not your fault and you may have sustained an injury does not necessarily mean that you are legally entitled to "pain and suffering" or non-economic damages. Some states have a verbal threshold while other states have a monetary threshold. A verbal threshold is a qualitative measurement that allows lawsuits based on severe personal damages like death, dismemberment or permanent injury. Monetary thresholds use a quantitative amount that must be spent on medical expenses before a lawsuit is allowed. It is very important that you have your specific case evaluated by a competent counselor at law.
Does the party that caused the accident and your injury have sufficient insurance or other assets to satisfy a judgment? The amount of available and recoverable insurance is extremely important in not only estimating or determining the value of your case but in determining how to efficiently and effectively develop a plan of action. This is arguably the most determining factor in the value of your lawsuit.
The truth behind the question of how much is my lawsuit worth is that your personal injury lawsuit is really about YOU! If you are not someone that can be believed or someone the jury can be sympathetic with, it will be difficult for your attorney to convince the jury to give you the money that your want for your lawsuit. You shoulder never lie or unrealistically overstate your injuries or disability. It is important that you seriously consider the advice of your doctors and medical specialists. Additionally, be honest with your attorney about your case and background history, and keep them informed of any and all developments regarding your injuries, disability, and treatment.
Personal injury law is much more complex that many people realize. Injured accident victims need to have a personal injury legal specialist guide you through the lawsuit process to ensure that YOU get the compensation you deserve.