Frequently Asked Questions
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We are committed to providing a no-stress, no-hassle process. We offer the following arrangements to all of our prospective clients:
- A Free Initial Consultation. During this free consultation, we will gather facts from which we can make an initial assessment of your case. Based on this assessment, we may agree to represent you,it is also possible that we might advise you that your harm is not compensable or that based on our assessment, your chances of recovery are slim
- A Contingent Fee Agreement. Under this kind of agreement, we receive compensation for our work on a case based on a percentage of the total recovery.
- Court Costs and Expert’s Fees. These are costs we must pay to file cases, serve defendants with notice, take other actions involving the courts , and hire appropriate experts. Expert fees are also paid only at the conclusion of your case.
The term “bodily injury claim” usually refers to a personal injury claim. Economic damages include, but aren’t limited to:
- Lost wages
- Medical bills
- Rental car expenses, etc.
General damages include:
If you settle your bodily injury claim, it must include all the types of damages available to you, or you’ll likely lose your right to recover for those losses.
No, there is no minimum or maximum settlement amount. The amount of a settlement in a personal injury case depends on lots of factors, including:
- The nature and extent of the injury,
- The amount of economic damages (such as lost wages and medical bills)
Insurance companies are mainly concerned with their own interests rather than your best interest.
Their representatives may be trained to minimize or outright deny your claim, and they typically employ a variety of tactics to accomplish that – sometimes even pretending to be on your side and want to help you get your claim resolved quickly.
A personal injury lawyer can negotiate on your behalf and should know how to work with – and against – insurance companies.
First and foremost, get medical attention. File a police report, either at the scene or as soon as possible afterward. Try to get names and contact information from any witnesses.
If you’re able, write down exactly what happened as soon as possible after the event. Accident scene photographs often provide valuable evidence that can’t be duplicated after the fact.
If you’re considering filing a personal injury lawsuit, immediately after your injury would probably be the ideal time to speak with an attorney.
Call us at 1-800-247-WRECK, and we’ll help you arrange a free consultation.
If the settlement is intended to cover “physical injuries or physical sickness,” then the award will not be taxable as income, as long as you didn’t previously claim any “medical expense” deductions related to that same injury or illness.
But if you did claim a deduction involving the same injury or illness that gave rise to the settlement, then you’ll most likely need to report the settlement as “Other Income” to the IRS.
There are a few more quirky rules when it comes to settlements and whether they’re taxable:
- Any portion of your settlement that is meant as an interest payment is taxable.
- Any portion of the settlement that is meant to compensate you for pain and suffering — above and beyond any dollar amount meant to cover your actual medical expenses — will be taxable.
- Any punitive damages included in the settlement will be taxable.