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Personal Injury Compensation – How to Get the Compensation You Need It is normal to be concerned about your finances when in an accident. This is especially true when your injuries are serious. There are many options to receive compensation for your injuries. This includes both economic and non-economic damages like pain and suffering. Economic Damages Financial compensation is accessible to anyone who has suffered injuries due to the negligence of a third party. This compensation is intended to assist you in recovering from your injuries and return to your pre-injury standard of living. In personal injury cases, there are two types of monetary damages you can receive: non-economic and economic. The first is to compensate for the financial loss you suffered from the accident while non-economic damages are meant to compensate for your emotional pain. In many instances a judge or jury will award the victim with economic damages to compensate for their loss of wages, medical bills and rehabilitation care and damages to property, such as repair and replacement. This category of damages can be documented by bills, receipts, and pay stubs. Negligent behavior by a defendant can result in a wide range of economic losses. These losses include: Loss of Earning Capacity If a victim suffers an injury the earning capacity of the victim could be severely affected. They could be forced to take a lower-paying position or become permanently disabled. Future Earning Capacity This is a difficult aspect to assess since it is based on the age, the industry and the trend of the victim's job at the time of the accident. One person may be young and have a promising career, or they may have an retirement plan. – Past Earning Capacity This is also a challenge for juries to consider, since it requires a thorough investigation of the victim's prior work experience and the potential for future earnings. A victim might be a recent graduate with an engineering career. In addition, to the loss of wages, the victim could have had other expenses like medical bills, car repairs, and even out-of-pocket costs for therapy or medication. These expenses can add up to a significant amount of money. personal injury law firm chicago of all these expenses to figure out what your economic damages might be can help you obtain an equitable settlement. There are a myriad of factors that affect the exact amount of your economic damages, so it is important to speak to an experienced personal injury attorney who is aware of how these damages are calculated and determined. Your attorney will provide you with a list of all your current and future economic losses and also solicit experts who can establish an amount of money on these damages in the process of the calculation of your compensation.