How Pain and Suffering Damages Are Calculated in a Request for Lawsuit Funding
No matter what type of accident resulted in your injuries, the consequences are often expensive and lost-lasting. It’s likely you’re dealing with medical bills, lost wages, property damage expenses, and more. When you file a personal injury claim, you’ll be seeking monetary recovery for those losses. But, that’s not where the recovery stops.
The damages above are considered economic. They cover the calculable losses related to your accident. A large portion of a personal injury settlement, however, can come from noneconomic damages – like pain and suffering.
If your claim is complex and taking a long time to settle, it’s like you need access to funds now. That’s where we come in. When you submit an application with Preferred Capital Funding, you’ll be days away from receiving the lawsuit loan you need to reclaim order in your life while your legal matters are being handled.
While more challenging to calculate, you can request predicated pain and suffering damages be included in the lawsuit funding you receive. In order to understand how to calculate a reasonable request, let’s take a look at what pain and suffering includes.
Understanding What Pain and Suffering Damages Include
From a legal perspective, pain and suffering is separated into two categories: physical and mental. Physical pain and suffering refers to the literal pain experienced as a result of injury. This includes the pain and discomfort the claimant endured as a result of the accident and the pain they’re likely to suffer in the future.
Mental pain and suffering is more complex. This category includes mental anguish, emotional distress, loss of enjoyment of life, fear, anger, humiliation, shock, and anxiety. Essentially, mental pain and suffering includes any negative emotion an accident victim suffered as a result of enduring the trauma and physical pain of an accident.
For a better understanding, let’s take a look at a car crash example. Let’s say an unsuspecting driver is injured in a collision by a drunk driver. Common injuries include broken bones, contusions, lacerations, and head injuries. If a car accident victim sustains a broken leg, concussion, and facial laceration, their physical pain is likely to be immediate. They’ll need proper medical intervention and treatment to get on the road to recovery.
After their initial treatment, the victim could become depressed, irritable, and anxious. They could also develop sleep disturbances. As a result, their doctor may recommend therapy. The physical and mental problems they’re experiencing are a direct result of the accident they didn’t cause, which is why they can seek related compensation.
Calculating Pain and Suffering Damages for Lawsuit Funding
When discussing your lawsuit funding request amount with your lawyer, they’ll take into consideration your economic and noneconomic damages. Determining the amount of funding to ask for can seem confusing, especially when there’s no direct way to calculate pain and suffering. There are a number of factors you can take into consideration when considering what to request:
- How your mood or temperament has changed since the accident
- The emotional trauma you’ve experienced
- Therapy or counseling recommendations
- Your ability to focus while working, if you’re able to work
- What similar lawsuits have settled for in the past
It’s also important to note that courts can use a multiplier when determining pain and suffering. Depending on the case, noneconomic compensation could total 1.5 to four times the amount of economic damages. This, however, is a rough estimate and does not apply to all personal injury cases.
Once you decide on an amount, you can submit the application with your request. Our lawsuit funding experts will review your request and make a determination.
Apply for Lawsuit Funding Today
We recognize the challenges injured parties face when waiting for a lawsuit to settle. If you need money now, applying for lawsuit funding from Preferred Capital Funding can help you sustain yourself while you wait for the compensation you need and deserve.
The process is easier than you might think. All you need to do is provide us with your name, contact information, the type of case you’re dealing with, and the amount of funding you’re requesting. In conjunction with your lawyer and the information you provide us with, we’ll begin determining a reasonable funding amount based on the likelihood of you having a successful case.
It’s important to note that lawsuit funding is nonrecourse. This means that if the lawsuit does not play out in your favor, you won’t owe us back any of the money we gave you. Apply today and you could have your money in as little as 24 hours.