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Personal Injury Compensation – How to Get the Compensation You Need If you're involved in an accident, it is normal to worry about your financial situation. This is especially true if the injuries you sustained are severe. There are many ways to receive compensation for your injuries. This includes economic and non-economic losses, like pain and suffering. Economic Damages Financial compensation is open to all who have suffered injuries due to the negligence of a third party. The purpose of this compensation is to assist you in recovering from your injuries and get back to the same standard of living. In personal injury cases, there are two types of monetary damages that you could get: non-economic and economic. The former is designed to compensate you for financial losses resulting from your accident, while the second is designed to compensate you for the emotional burdens your injury has caused. A judge or jury can award economic damages to victims in numerous instances. This can include lost wages and rehabilitation, medical bills and property damage expenses such as repair and replacement. This category of damages is tangible in that it can be documented through receipts, bills and pay stubs. A defendant's negligent behavior can result in different economic loss. These losses include: – Loss in Earning Capacity A person who is injured may be unable to earn as much after an injury. They might be forced to find a job that pays less or even permanently disabled. – Future Earning Capacity This is a difficult factor to estimate because it depends on the victim's age, the industry, and trend at the moment of the incident. One person may be young and are in a promising profession, or they might have an retirement plan. Past Capacity to Earn This poses a challenge for jurors as it requires a thorough analysis of the victim's history of employment and potential future earnings. personal injury lawyer st joseph could be a recent college graduate with a technical career. – In addition to lost wages, the victim may have faced other costs like medical bills, car repairs and even out-of-pocket costs for therapy or medication. These expenses can amount to a substantial amount of money. Compiling all these expenses to figure out what your economic damages might be will help you receive an equitable settlement. There are a variety of factors which affect the amount your economic damages. It is important to consult a skilled personal injury lawyer who will help you understand how these damages can calculated and determined. Your lawyer can provide you with a comprehensive list of all your current and future economic losses, and will also solicit experts who can place an amount of money on these damages for the purpose of the calculation of your compensation.