Lawsuits can be very complicated, they often include depositions, court dates, meetings with lawyers and months and months of work. That is why people often wonder if they are getting a good settlement for a lawsuit. They can ask their lawyers, but sometimes people may suspect that their lawyer does not have their best interest in mind. We compiled a list below to give you a better understanding of whether or not you are getting a good settlement.
Have your medical bills were paid off?
The most important thing you want to take into consideration regarding a personal injury settlement is whether or not your medical bills have been paid off. As a plaintiff, you need to make sure you have received every single bill and that the full amount of each bill is paid. It is essential not just to get the co-pay or what you paid for a settlement, but instead get the full amount of the bills. The reason for this is because often times the medical provider can put a lien on your claim, and they can recover the full amount from you.
What are your future medical damages?
Future medical damages are often hard to determine, but it is important to make sure you take these into consideration. If you settle a lawsuit, but you have upcoming surgeries or other procedures in the future, you need to make sure you are compensated enough to pay for those procedures. Alex Ozols, who is a lawyer in San Diego California, explained to us that there are a lot of things that go into settlement negotiations and some personal injury lawyers in San Diego do not take into account future medical damages on these types of cases.
Did you miss any time at work?
Missing work is something that can be frustrating, but in a personal case, it is something that you need to be compensated for. These damages are often called compensatory damages and are important to make the victim whole. If you have been injured, make sure you document every day that you missed work. If you work on a commission system as well as salary or hourly, make sure that you document the average commissions you would have made in the time period that you were off work.
In a car accident case, has your car been paid off?
Car accident cases can sometimes get even more complicated because the value of a car can change drastically. Even the price of your car sometimes needs to be negotiated with insurance adjusters.
For example, if you have a lease and your car is considered a write-off, that means that you need to pay off the balance of the lease and the balance of your car. However, depending on the amount of down payment that you used, sometimes the insurance company will value the car at a lower value than you expected. This is important, and any good settlement will be one that can pay off the total value of your car
What are your emotional damages?
Emotional damages are also known as pain and suffering damages. Often times the emotional damages are calculated as 2-3 times the medical bills. A good settlement would be 3-5 times the medical bills. A bad settlement would be 1.5 times the medical bills. This is a great factor to keep in mind when determining whether or not you are getting a good settlement.