Helpful Advice When Claiming for loss of earnings
Helpful Advice When Claiming for loss of earnings
If you have been injured because of someone else's negligence or carelessness, you may have a valid personal injury claim. In making a claim you would be entitled to receive compensation, the aim of which is to put you in a position financially as though the accident had never occurred. One of the elements you are entitled to be compensated for is loss of earnings as a result of being unable to work, or having to take a lesser role on a reduced income because of your injuries.
If you are unable to work as a result of your accident, and your earnings have been reduced during that period, you will be able to claim the difference between the two amounts. If you are in the unfortunate position of having lost your job permanently as a result of your injuries you will be able to claim not only for past lost earnings, but also loss of future earnings which could include future benefits such as pension rights. In some instances, you may also be able to claim for loss of promotion and / or loss of congenial employment'. For example, where you have lost the chance to work in your pre-accident professional capacity.
Calculating the financial loss of earnings
Calculating loss of earnings is relatively simple and is usually calculated by working out the average salary in the months before the injury occurred. Your claim will be based on your average earnings and any bonuses you would have received had the accident not happened. The potential increase in earnings since the accident will also be taken into account. Your solicitor will need to see your most recent payslips and other relevant documentation in order to make the claim.
Calculating the loss of future earnings
This is more complicated to assess. If the nature of your injuries was so serious that you can no longer work, or you are forced to work in a lesser capacity or in a lower paid job, you can make a claim. Because of its uncertain nature, this is more difficult to quantify and you will need the expert advice of a personal injury solicitor to calculate this on your behalf.
Important factors that should be taken into account when your claim for loss of earnings is assessed will include:
your individual characteristics, such as your age, educational and professional achievements
the nature and extent of your disabilities.
any pre-existing conditions from which you suffer
the possibility you may have given up work because of existing ill health
the possibility of becoming unemployed
What if I'm self-employed? If you are self-employed, your claim for loss of earnings will be calculated on a similar basis and your solicitor will need to see your accounts, copies of invoices and other relevant documents to work out how your compensation for loss of earnings should be calculated.
Where your employment situation has changed as a result of your personal injury, it is important you take expert legal advice for a claim for loss of earnings.
If your income has been impacted by an accident caused by someone else then you should seek advice from a legal expert who can advise you on how best to proceed with any claim.
Going online to find free legal advice is the first step when making injury claims and getting the compensation you deserve.
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