Personal injury accidents are a source of pain and suffering in your life. These accidents have the capacity to turn your life upside down in many ways. The biggest losses you face are the loss of income and/or earning capacity. This loss affects the quality of your life in many ways. But this loss can be compensated with the help of an experienced personal injury attorney in the Bronx.
This is possible when you understand the difference between the loss of income and the loss of earning capacity. An experienced personal injury attorney in the Bronx will always encourage to you know the difference between these two things.
Let’s look at the difference:
This knowledge will help you take your personal injury case in the right direction during the trial phase.
The loss of income:
The nature and severity of your injuries can force you out of work for an unknown amount of time. A personal injury attorney in the Bronx can help you determine your loss of income with their experience. They take a couple of key things into consideration for this purpose. For example:
- Your daily output at your workplace before and after your personal injury accident.
- The amount of income you earned before your accident.
- The amount of income you are making after your accident.
- The number of hours you could work before and after the accident.
- The services you could provide before and after the accident
The loss of earning capacity:
This is a bigger financial setback for you as compared to the loss of income. It is because the loss of earning capacity refers to your reduced ability to earn money in the future.
An experienced personal injury attorney in the Bronx can help you recover this financial damage as well. They will take a couple of key things into account for this purpose. For example:
- Your medical documents to explain the way your injuries affect your ability to work and earn in the future.
- Your current income is also taken into account.
- The number of years you could continue working.
- Potential increments, bonuses or promotions you could earn in the future.
- Your living expenses are also taken into account.
- The job tasks you cannot perform as a result of the accident.
The loss of income is a loss for a period of time. However, the loss of earning capacity is permanent. It affects you for the rest of your life. But, both of these types of loss are recoverable with the help of a competent personal injury attorney in the Bronx. They will know which expert witnesses to involve in order to maximize your recovery.
If you are looking for someone experienced enough to help you recover your loss of income or the loss of earning capacity, choose the Law Firm of Vaughn, Weber & Prakope, PLLC. We help personal injury accident victims from Suffolk County, Nassau County, the Bronx, Long Island, Staten Island, in New York and its five boroughs.