Section 4
How Much is My Case Worth?
Often, one of the first things many of our clients want to
know is , "How much is my case worth?" While this may seem simple
enough, it is actually very difficult to determine early on in the case.
Just as all people are different, the facts in each case are equally as
different. Even the smallest of differences can make one case worth much
more or conversely much less than another. Because of this, we are
unable to give you an exact estimate of the value of your case until we
have discovered all the facts and you have completed all medical
treatment.
Before your lawyer can give you an estimate of your case value, you must
have been released from treatment by your medical doctor. At this point,
you will have most likely reached your Medical Maximum Improvement.
Then, we must submit all of your medical bills (doctors, EMS, hospitals,
etc.) along with our settlement demand package to the at-fault insurance
company in an attempt for a settlement. It is likely at this point we
will be able to give you an idea of how much we believe your case is
valued.
Here are some of the many factors that go into determining the value of
your case:
- severity of
physical injuries and permanence of injuries
- cost of medical
treatments (doctors, hospitals, therapy, prescriptions, etc.)
- need for
rehabilitation, future medical treatments, or surgery
- degree of future
disability, if any
- written opinions
of your treating doctors
- test results
from independent medical diagnostic groups
- amount of lost
wages due to injuries
- probability of
future lost wages, or lower wage earning capacity
- pain and
suffering due to injuries
- age of client,
previous injuries, previous claims, subrogation issues, etc.
- defendant's
percentage of liability
- other possible
damages (loss of society, etc.)
- Damage to client
vehicle
- Damage to
defendants vehicle
- Gaps in medical
treatment
- Was the
defendant drunk or did he/she flee the scene?
With your cooperation, it is our responsibility to collect all of the
facts and then advise you of the settlement value of your case. The
settlement value of your case is based on a number of factors, both
objective and subjective. Factors considered for settlement value
include the current state of the law in fact situations like yours, past
jury verdicts in local courts, and any offsetting non-reimbursable
costs. Ultimately, we must also seriously consider the "risk factor."
The "risk factor" is a decision which only you, the client, can make. It
takes into consideration the fact that any case can be won or lost
through no fault of the lawyer or the client. There are no “guarantees.”
Accepting a settlement without going to court eliminates the "risk
factor," however the value of the case may be (but not always) reduced
to compensate for no risk. This is the true settlement value of your
case. Please note, your legal assistant will never give you an estimate of the
value of your case. The attorney will give you an estimate range upon
your request and only after all medical treatments are completed; final
medical reports have been submitted by all treating doctors; and after
we have reviewed all pertinent facts in your case.
If you will remember your first interview with us, we explained the
philosophy of our law firm is to file a lawsuit against all responsible
defendants if it is determined that the probability of a favorable
settlement is very low, or if another legal factor dictates litigation
is the best route. Litigation is a very expensive option, but we will
use it when other dispute resolution alternatives do not produce the
preferred results. Our philosophy of using the least expensive
alternative first usually (but not always) saves our clients money and
results in more net cash from your settlement. If your case warrants
litigation, we will advise on it, and seek your full cooperation.
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