No one is suggesting that money will completely make up for the misery and pain after a car accident. If you are hurt in the wreck, though, you may miss work while racking up thousands of dollars in medical bills. The person responsible for your accident is liable for the costs associated with it along with all the ways the accident has affected you. The funds for paying the costs have to come from somewhere, so read on for an exploration that identifies some possible sources of personal injury compensation.
Investigating the Likelihood of Compensation
As the victim, one of your first acts should not be to agree to a settlement but to speak to a personal injury lawyer. They can advise you on how to act and what you may be entitled to get in compensation. If you and the lawyer agree to form a team to get you paid, one of the things that happen first is to identify funds available. There is no point, after all, in taking legal action unless there are funds available.
The Driver's Insurance
If you and the driver were insured, the party that caused the accident and their insurance carrier are responsible for paying the price. You should still inform your insurer about the wreck, however. What you should not do is speak with the other driver's insurance adjuster – let your lawyer handle that issue.
When Insurance Won't Work
Not all drivers, unfortunately, have insurance. In some states, accident victims can be paid from a fund that is supposed to compensate victims when they get in a wreck with uninsured drivers. Unfortunately, those funds are often limited and inadequate. Some drivers have insurance but the policies don't pay enough to cover your damages. When that happens, your only recourse is to seek compensation from the driver themselves to make up the difference.
Preserving Compensation
Some drivers have little to no assets or the ability to pay anything after a wreck that they caused. An investigation into the defendant's finances may be ordered by a judge to determine their ability to pay if you win a lawsuit against them. Assets like real estate, bank accounts, investment accounts, and other assets should be identified and protected using various court orders. For example, the judge can order a defendant's bank account frozen until a case is decided. Along with assets, a judge can also order that a defendant's employer garnish their wages to pay lawsuit expenses and compensation. This investigation and preservation of assets may be known as the judgment debtor's examination.
For more information about where the funds to pay you comes from, speak to a personal injury attorney as soon as possible.
Share28 August 2020
Getting in any sort of car accident is traumatic, especially if your injuries are bad enough to land you in the hospital. The last thing you want to worry about after the crash is medical bills, but sadly, insurance companies do not always make it easy to collect the funds to cover those expenses. On top of that, you have lost wages from the days you missed at work. There is a solution. Personal injury and car accident attorneys are there to make sure you get the compensation you deserve after a car accident. We've created this website to help you learn more about their services.