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Basic Personal Injury Settlement Breakdown: How Much Goes in My Pocket?

Personal Injury Settlement Breakdown. How Much Do You Get? - Brooks Law GroupPersonal Injury Settlement Breakdown. How Much Do You Get? - Brooks Law Group

“How much money will I get for my personal injury settlement?” It’s one of the most common questions we get at Brooks Law Group.

It’s not hard to understand why. You’re hurt. You’re under serious financial strain, and someone else is responsible for your injuries. You shouldn’t have to pay. However, many factors determine how much money you will take home if you win your case.

Severity of the Injuries

The goal of a personal injury claim is to provide compensation that accounts for your financial losses, estimated future expenses, and the long-term implications of the accident. The extent of your injuries makes a huge difference in the case value. Severe injuries, especially ones where a full recovery is impossible, will drive up the amount the case is worth.

Who is at Fault

In Florida, you can obtain compensation for an accident even if you are partly responsible for it. This is because the state uses a pure comparative negligence standard to determine fault. According to the law, you can recover compensation even if you are 99 percent to blame for an accident. Working with a personal injury lawyer is critical in cases where fault is in dispute. Being assigned an unfair portion of fault will mean less money in your pocket.

Individual Factors

Your general health and any pre-existing conditions before the accident can impact your settlement amount. If you hurt your back in a slip and fall accident but have a history of back problems, it can complicate negotiations with the insurance company

Here, our personal injury lawyers have compiled a list of things that can impact your ultimate take-home settlement amount. You can also check out our Personal Injury Calculator to get an estimate of what your case is worth.

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Costs of Bringing a Claim

What Does It Cost To Bring A Claim? - Brooks Law GroupWhat Does It Cost To Bring A Claim? - Brooks Law Group

You Won Your Case — Is It Time to Get Paid?

Once your case has settled, certain costs will need to be subtracted from the settlement amount before you are paid. These include:

  • Attorney’s fees: When you hired your lawyer, you agreed on a percentage that the attorney would be paid if your case won (usually between 33 1/3 and 40 percent). The attorney’s fee will be the first thing deducted from your settlement award.
  • Case costs: You will also be responsible for certain case costs, such as the charge for medical records, copy charges, and postage for pre-suit cases. These fees will be taken out of your settlement as well.
  • Medical liens and expenses: Medical providers, health insurance companies, and other agencies may place a lien, or hold, on your settlement or judgment to pay for debts that you owe for treatment received. Paying off these liens will also come out of your settlement, but a savvy personal injury lawyer will conduct lien negotiations to reduce your bills and send you home with the most amount of money possible. While Brooks Law Group cannot guarantee that every provider will lower your outstanding expenses, we can promise that we’ll do everything in our power to maximize your settlement amount.

Remember that our lawyers only take cases on a contingency fee basis. That means that we only get paid if we obtain a settlement for you.

Brooks Law Group works on a contingency basis. This means that we only get paid if you do through your personal injury settlement. You can learn more about affording legal help here.

Hurt in Central Florida? Contact Us Now

If you were hurt in an accident in Tampa, Winter Haven, Lakeland, Auburndale, or the surrounding communities, a personal injury lawyer from Brooks Law Group will push aggressively for maximum compensation for you. Call or contact us today for a free consultation.

This post was originally published October, 2020 and has been updated for accuracy and comprehensiveness in June 2021.

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