Recovering Financially After Filing an Employment Lawsuit

Published on Jul 29, 2020 at 7:05 pm in Lawsuit Funding Information.

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As an employee, you are entitled to certain rights—as established by the federal government. This means you are protected from discrimination, harassment, retaliation, and wrongful termination. In the event an employer breaches a federal anti-discrimination law, the employee has the right to file a lawsuit to seek compensation for their losses and suffering.

Filing a lawsuit not only ensures the opportunity to seek compensation, but it also holds the negligent party accountable for their actions. Unfortunately, employment lawsuits are often complex and can take a significant time to settle. Let’s take a look at what recovering financially after filing an employment lawsuit looks like.

Understanding Employment Lawsuit Compensation

When you work with a lawyer on an employment lawsuit, they’ll advise you as to what you are able to seek in regard to monetary recovery. Depending on your circumstances, you could be entitled to back wages, front wages, or consequential damages.

It’s important to note that damage caps and available compensation varies by state and may be impacted by state laws. Your attorney will explain any applicable state laws to you.

Back Wages

Back wages are what you would have earned if the discrimination or harassment had never taken place. These are calculated by subtracting what you made after being fired, demoted, or harassed from what you made before.

While calculating back wages may seem straightforward, there is often some guesswork that goes along with determining a total. For example, back wages are calculated from the time the wrongful act occurred until the time you win at trial. Additionally, total wages lost can be dependent upon whether you earn any money from another source to replace what you lost from your job.

Front Wages

As opposed to back wages, front wages are what you would have earned if you had not been fired, demoted, or harassed. They start from the time after you win at trial until some point in the future beyond that.

A judge can award front wages in different situations. For example, if an expert, like an economist, testifies on your behalf regarding when you might be able to find adequate replacement income, the judge could award you front wages for that predicted amount of time.

Consequential Damages

Consequential damages refer to any money you had to spend as a result of being fired. For example, this could include out-of-pocket medical expenses, moving costs for relocation, or travel expenses. To successfully seek consequential damages, you’ll often need evidence like medical bills, proof of payment, or other receipts.

Depending on the situation, consequential damages can also include financial damages suffered. When a person loses their job, that loss has the potential to damage their credit report if they cannot pay their bills. Your lawyer can show your credit rating dropped because of missed payments after losing your job. A damaged credit report can cost a person money over time in the form of higher interest rates and decreased borrowing power.

Managing Finances Amid Litigation

As mentioned, employment lawsuits can take time to resolve. If you’re dealing with unemployment and job hunting while in the middle of a lawsuit, you could be struggling financially. Fortunately, personal injury lawsuit plaintiffs have the option of seeking legal funding.

At Preferred Capital Funding, we provide plaintiffs with the money they need to pay their bills and maintain their quality of life while dealing with litigation. A pre-settlement cash advance is different than a traditional bank loan in a number of ways. For one, we won’t need to look at your financial records or employment history. We’ll only need to verify that you’ve filed a personal injury claim and have a strong case.

In some states, cash advances for lawsuits are non-recourse. This means that the plaintiff only pays us back in the event they win their case. We absorb the risk, which reduces the possibility of the plaintiff falling into further financial trouble after a failed lawsuit.

Apply for Lawsuit Funding from Preferred Capital Funding

If you’re interested in legal funding, consult with your attorney. They will need to be willing to work with us for you to be eligible for funding. The application process is simple. All you need to do is provide us with some basic contact information, details about your claim, and how much money you’re looking to receive. A legal funding expert will review your case and discuss the matter with your lawyer. If you’re deemed eligible for funding, you could have the cash you need in as little as 24 hours.

At Preferred Capital Funding, we understand the challenges of dealing with a lawsuit and we know how it can affect a person financially. To ensure you have the money you need to see your lawsuit through and hold your employer accountable for their negligence, contact us today.

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