There are many elements that go into calculating what kind of personal injury settlement you will receive. Pain, treatment, and fault percentage are but a few.
Kentucky Settlement Values
When you have been injured in an accident, whether it was on the job, in a store, or in a car - you want justice. You want answers to your questions, and you want to have what you lost back. This is absolutely understandable. The fact is, no matter how badly you have been injured, there is just no way to undo what has been done. We know that you would much rather have that day back as a do-over, or to rid yourself of the pain, or to get back something you have lost. But the fact remains, unfortunately, that money is the closest thing you can get to justice in personal injury cases. At least earnings you may have lost or property that may have been destroyed, you can recover. Medical treatment, as well, can be sought extensively. In any case, if you have been injured in Covington, Newport, or Florence - seek a Northern Kentucky personal injury lawyer today.
Now, when attempting to explain a settlement formula, it must be understood that there are numerous variables that just cannot be accounted for until the time of settlement calculation. This is where the settlement offer is made. Even then, a first offer is basically only a jumping off point to be negotiated.
An example of a basic formula is medical bills (past and future, if warranted) + lost wages (past and future, if warranted) + pain & suffering + damages. Now, this is a basic formula. A more complex formula will take into account comparative fault, which accounts for how much of the fault the injured carries. In addition, a percentage as to the success of the claim is also included. For example, if your formula calculates to $100,000, and the success percentage id 80%, then your settlement would be based on an $80,000 average. The specific formula to figure out your settlement will of course be unique, and based on the specifics surrounding your particular case.
How Much Will You See
Now, how much of your settlement will you receive? You should always account for attorney fees and medical liens. Your attorney should always discuss with you the specifics of your case, and they should always disclose their fees in advance. Once you factor this in, you need to account for medical liens. This is where the hospital, doctors, or rehabilitation clinics collect their share. This is usually because they have agreed to treat you in lieu of your settlement, charging you nothing in advance. Once treatment has been satisfied, your settlement will be released to you.