When you rely on your earnings to pay your mortgage or rent and keep food on the table, car accident injuries that prevent you from working can devastate your finances. Louisiana law allows individuals who’ve been injured due to another driver’s negligence to seek compensation in a personal injury claim, but your losses must be carefully documented.
Calculating Lost Income After a Car Accident
The lost wages portion of a personal injury claim provides compensation for earnings you did not receive due to your accident-related injuries. This includes overtime, bonuses, and incentives you would have received if you had been uninjured. You will need to provide your pay stubs and a note from your employer to document this loss.
If you are self-employed or an independent contractor, lost income includes your wages and business profit you would have made if the accident hadn’t occurred. You will need to provide recent tax returns, 1099 forms, and any business correspondence that supports your claim.
Loss of Future Earning Potential
Sometimes, car accident injuries can result in serious disabilities that prevent you from working altogether, require you to work a reduced schedule, or necessitate seeking employment in a lower paying occupation. When this happens, loss of future earning potential is an important part of your personal injury claim.
Expert witnesses are necessary for a claim involving loss of future earning potential. Economic loss experts can help quantify your lost wages by looking at your earnings history and potential for future salary increases at the time of the accident. Vocational specialists can testify as to what type of position you might be able to obtain given your accident-related disability, current education, retraining resources, and the local job market.
Have You Been Injured In A Louisiana Car Accident?
If you've been hurt in a car accident you need to speak with an experienced car accident attorney as soon as possible. Please contact us online or call our Alexandria office directly at 318.541.8188 to schedule your free consultation.