When it comes to an injury settlement, a critical aspect to consider is the amount of damages – meaning losses suffered due to the accident or injury. An injured person may typically receive compensation for their medical treatment, and perhaps even pain and suffering. However, another category of damages to consider is lost income, which includes monetary loss from your job, and reimbursement for missed work opportunities. You’re entitled to compensation for any pay you may have lost as a result of your injuries. If you’re unsure how to go about such reimbursement, contact an attorney promptly.
What is Recoverable?
If you’ve been in an accident, you’re entitled to compensation for any income you may have lost due to your accident and the resulting injuries. The person responsible for the accident is held liable for your lost revenue. They, or their insurance, will need to repay the amount.
The amount you recover varies, however. For example, if after an accident your medical expenses total $500, and your lost income totals $500, your medical costs would be multiplied by two, whereas your income would remain the same.
Documenting Your Lost Income
If you’re employed by someone, collecting information about any and all lost income is quite simple. Ask your supervisor or boss to write a letter using company stationery. This letter must include your name, position, rate of pay, and hours typically worked, plus the number of hours you missed.
Once you’ve shown the hours you’ve missed, you may need to show the amount of income you’ve lost due to your accident. Your best evidence is personal income tax returns from the previous year. Such documents will show your expected salary.
If you’ve been involved in an accident, contact Todd Durham Law Firm by calling (214) 222-4000. In your time of need, we’re here for you!