In addition to physical pain and mental trauma, a car accident victim often suffers heavy financial losses. Depending on the severity of the injury, you may even lose your ability to perform your previous job, or even worse, you could become partially or permanently disabled as a result of the accident.
If you suffer a serious injury from an accident, you may need to take days off from work, which could affect your earnings. Add to this your medical bills and the cost of repairing your damaged car and you could feel the financial pinch. Depending on the severity of the injury, you may even lose your ability to perform your previous job, or even worse, you could become partially or permanently disabled as a result of the accident.
Depending on the severity of the injury, you may even lose your ability to perform your previous job, or even worse, you could become partially or permanently disabled as a result of the accident.
The amount of money or other employee benefits you lose as a result of your injury from an accident is referred to as “Loss of Income.” For instance, if you suffer a severe injury requiring hospitalization or time off from work, the wages and benefits you lose is considered as your loss of income.
If your injuries were caused by another person’s negligence, you can claim compensation for your lost earnings. Depending on the laws in North Carolina, you may need to file a lawsuit against the party at fault to recover your financial losses. Even when you suffer income loss at intervals, you can still recover your lost earnings. For example, if your injury causes you to take a total of 30 days leave within six months, you are still entitled to financial compensation for your lost earnings. However, you need to provide valid documents to support your claim.
What Is Referred to as Lost Earning Capacity?
An accident victim may no longer be able to perform some tasks with the same intensity in which he or she was doing the work prior to the injuries. Any such loss in the ability to earn income is referred to as “Lost Earning Capacity.”
If you suffer any such injury that affects your future earning capacity, you may be entitled to compensation for your lost earning capacity, in addition to what you receive for your immediate loss of income. It may be difficult to determine any lost earning capacity. Some factors that are taken into consideration when calculating lost earning capacity are as follows:
- The work profile of the accident victim, including professional skills, years of experience, abilities, and talent.
- A doctor’s opinion on the severity of the injury and how that may affect the injured person’s future earning capacity.
- An estimate of the injured person’s possible loss of income in the future factoring in current market values and wage rates.
- An estimate of the total future losses of an injured person may vary depending on where he or she lives and the standard of living.
Although monetary compensation cannot undo the scars of an injury, it can help you and your family with the financial burdens of being involved in such a catastrophic car accident. At The Law Office of Grady Jessup, we can help you understand what your legal options and rights are. We charge no legal fees unless and until we obtain the monetary compensation you need and deserve.
The Law Office of Grady Jessup understands Lost Earnings Capacity cases and have years of specialized experience. If you have lost income as a result of an accident, you will need compensation for medical costs, therapy, pain, suffering, lost opportunities, psychological trauma, and the long term changes you will experience from being involved in a personal injury accident. We will hold the negligent party responsible. We take everything into account and will work to ensure you obtain the level of compensation that you need and deserve. When you call The Law Office of Grady Jessup, you get a professional, friendly lawyer that will listen to your case. If you or a loved one has been involved in an accident resulting in lost earnings, give The Law Offices of Grady Jessup a call today. We offer free consultations. We will review your case and seek to understand everything that happened. You don’t need to forge ahead alone; we will fight your legal battles so you can focus on recovering.
Whether you have been injured in a car accident, have been the victim of medical negligence, or any other personal injury, you can trust that our experienced team will give you the personalized attention and respect you deserve. Using our extensive experience with personal injury and medical malpractice law, we will dedicate the time and resources necessary to aggressively pursue your case! Contact us today to schedule a free case evaluation. All communications are confidential.