Do You Want to Know How To Claim For Lost Income Following a Personal Injuries Accident?
Financial impact of a personal injury caused by someone else’s negligence can be devastating. Financial strain can be caused by missing work for several weeks, even months. This is especially true if you depend on your paychecks to pay essential expenses. You may be entitled for compensation if you file a lawsuit against the insurance company of the party who caused your injury. Jeanette Secor Attorney at Law, a trusted firm, has extensive experience in helping clients navigate through the complexity of lost income claims. This guide will explain who is eligible to file a lost income claim, which types of income are included, and how self-employed individuals can document their lost income.
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(727) 822-8818
Who Is Eligible To File A Claim For Lost Income?
Many people believe that only full-time employees who are salaried can claim income loss after an accident. Compensation for lost income is available to all types of employees. You may be eligible to claim lost income if you have been injured in any of the following situations:
- Full-Time Salaried Employees
- Full-Time hourly wage employees
- Part-Time Employees
- Contract Workers
- Seasonal or Occasional Workers
- Self-employed Individuals
You have a right to compensation for income lost because of an injury, whether you are a full-time employee, if you work part-time or if you’re self-employed.
What Types of Income Can You Claim?
Loss of income claims do not only cover wages that you did not receive immediately after your accident. These claims can include other types of income and financial benefits which would have accrued with time. Jeanette Secor PA Attorney at Law makes sure that clients get the compensation they deserve by carefully calculating all of these factors.
1. Past and future earnings
If your injury affects your ability to continue working, your claim should include not only the wages that you have already lost, but also those you will likely miss in future. Estimating future income for individuals who are temporarily or permanent disabled requires an analysis of previous income stability and career trajectory. A personal injury lawyer can calculate past and future earnings in order to give you a more accurate picture of your financial loss.
2. Missed Vacation Days and Sick Days
Many employees must use vacation or sick leave to recover from injuries. These days can temporarily replace lost wages but they also reduce your paid sick leave and decrease future time off. You may be able to include in your claim the value of any lost vacation days or sick leave. The compensation will ensure that you do not lose any time due to the injury.
3. Bonuses & Commissions
Include bonuses and commissions in your claim for lost income if your job involves them. If you miss work, it can affect your ability to earn performance-based compensation. You can include bonuses and commissions in your settlement request if you can prove that you earned them reasonably. This is particularly relevant for executives, sales professionals or other performance-driven roles.
4. Other Employee Benefits
Some job benefits have a financial value, including access to company cars, paid travel or stipends. These benefits can be included in your claim if your injury prevented you from receiving them. Working with an attorney will allow you to determine the value of any benefits that you no longer receive and include them as part of your compensation.
5. Loss of earning capacity
You may be entitled compensation for lost earning capacity if your injury has left you permanently disabled or unable to perform your former job duties. This type of claim covers the loss of future wages, benefits and promotion opportunities due to an injury. Jeanette Secor PA Attorney at Law can help you determine the extent of your lost earnings potential by coordinating with medical and vocational experts.
Contact Us Today!
(727) 822-8818
Claiming Lost Income if You’re Self-Employed
Proving lost income for self-employed people can be more difficult. Self-employed people may have a variable income, which makes it difficult to calculate exact lost earnings. Here are some ways to strengthen your claim.
1. The Tax returns and financial documents
Tax returns for previous years are a great way to prove lost income. Tax returns from the past two or three year can provide a financial history and help establish the average income before an injury. Financial records such as bank statements or invoices can help support your claim. They show typical earnings over time.
2. Send Contracts and Client Communications
You can claim lost income if you have contracts or correspondence with clients that show your business was growing and you were expecting increased earnings when your injury occurred. If you have ongoing or upcoming project that was delayed or cancelled due to your injury these documents could show potential income lost, especially if it shows growing business revenue.
The Importance Of Working With A Personal Injury Attorney
In order to calculate and negotiate a claim for lost income, you will need to gather documentation, estimate future income losses, and work with financial and vocational specialists. Jeanette Secor is an experienced attorney who has handled many lost income cases. She will ensure that you receive the maximum compensation.
A lawyer with experience can help.
- Calculate the Total Loss of Income: An attorney with experience will ensure that no aspect of income loss is missed, from wages to bonuses and future earnings.
- Insurance companies will try to reduce your settlement. Personal injury attorneys know the tricks insurers employ and can negotiate effectively on your behalf.
- Present Expert Testimony. An attorney may coordinate with medical or financial experts to provide evidence of your injury’s impact on your earning potential and career.
Jeanette Secor Is A Pa Attorney At Law Who Can Help You With Your Lost Income Claim
It can be difficult to file a claim for income lost, especially if your injury affects your ability work. Jeanette Secor Attorney at Law, a law firm that is trusted and has a reputation of fighting for the rights of clients. Our team is committed to helping you receive fair compensation for any income loss due to an accident.
Jeanette Secor is a PA Attorney at Law who can provide you with a consultation regarding your case. Contact her today. We can help you get the compensation you deserve so that you can concentrate on your recovery, without having to worry about financial instability.