Types of Financial Loss

Financial loss

When clients hear the phrase ‘damages’ or ‘compensation’ many only think that refers to money offered to compensate injury. When an accident occurs it may cause some clients to have to take time off work, pay for physiotherapy and in extreme cases (where the injury is life changing, pay for care and equipment.

Financial losses (also known as ‘special damages’) may not occur in every case, but in many cases they can be the largest element of a clients claim. In fact when you hear in the news about a Claimant being awarded in excess of a million pounds you will probably be shocked to hear that the majority of that award isn’t for the compensation of injury. It is for the past/future loss of earnings, cost of care and amendments to their home to accommodate their new needs as a result of the injury. 

Here are a few examples

Loss of Earnings

A common financial loss because some injuries can affect a person’s ability to do any work at all. A builder for example is unlikely to be able to continue working with a shoulder injury, an officer worker may be able to continue working with a broken ankle.  Not every client has the benefit of company sick pay. They may be able to apply for DWP benefits to take the edge of but have still lost a considerable bulk of their take home pay as a result. 

The difficulty with some claims is how the loss is calculated. It is quite easy where the client is paid a consistent salary and their take home pay always is the same (except for when they were unable to work). That is not always the case. Some clients are paid an hourly rate and do not have a set number or hours, or tend to do lots of overtime. Loss of earnings become even more difficult to calculate when the client is self employed and relies on tax returns to prove their loss of earnings. Even further, the DWP will ask the Defendant to repay any DWP benefits paid as a result so these have to be taken into consideration

Rebecca and Alec have regularly acted for clients with a wide range of loss of earnings and can assist in proving your loss to recover as much money as possible.

Care & Assistance

Many clients treasure their independence even when they share their domestic responsibilities with their partners. If your injury prevents you from doing something, even if its as simple as washing dishes then you may need to rely on others to help. At one side of the spectrum is someone who has suffered such significant life changing injuries that they cannot do anything for themselves and need private care to assist with daily tasks. At the other side of the spectrum is a client whose injury is nowhere near as devastating but leaves their partner, family member or friend to pick up the slack. 

Even where the client doesn’t pay someone else to provide care and assistant, a client can still claim an hourly rate for the amount of care and assistance provided. The amount may be a reduced amount compared with the cost of a private carer but it is intended to compensate the person who has spend time looking after the injured client. 

It is always important that the correct amount of hours claimed are reasonable. Claiming 5 hours of care a day for an ankle injury (which is the same amount of time reasonable for a paraplegic may claim) and there are cases where it is alleged the Claimant is exaggeration (which can cause costly consequences for the client). It is therefore important that you instruct lawyers who have good experience in claims for care & assistance.

Future Loss of Earnings and/or Pension

It is not just the past loss of earnings a client may need to claim, in some cases the injury is sufficiently long term that they will incur future loss of earnings. It might be for a short period of time, it could be up to retirement age.

What happens to the pension that lacks contribution because the client is no longer working? These are financial losses that can be costly to a Claimant and definitely need to be considered. 

Both Rebecca & Alec have prepared cases with future loss of earnings and pension but in some cases the value of the case is so extensive that it warrants input from a Barrister. In those cases both Rebecca & Alec have very good rapports with experienced Barristers who regularly act for Claimants in high value and serious injury claims.

Thanks to their experience, Rebecca & Alec ensure their clients get the best possible chance to recover their clients’ losses.

Why Choose Us?

Both Rebecca & Alec experience in dealing with financial loss claims. It doesn’t matter how small or insignificant it may be compared with other claims, they make sure you will be appropriate compensated. Some firms have overworked lawyers who won’t necessary have time or work capacity to ensure all financial losses (that can be claimed) are claimed and appropriately evidenced.

As a regular Court advocate for other law firms, Alec knows that the main reason a financial loss claim fails is because it has not been appropriately evidenced. In some cases a client simply didn’t have the evidence but in many cases, they didn’t know they should provide their lawyer with the evidence. 

Rebecca & Alec, as Consultant Lawyers, don’t have to worry about covering huge overheads and this means they can have fewer clients – meaning more time for your case. It is very important that you choose the lawyer who will do best for your case and you don’t always get the choice when you instruct a law firm directly.

As all their work is carried out through a regulated law firm Alec & Rebecca can offer beyond what normal law firms offer. Usually each lawyer in a law firm may have over 100 personal injury clients where as Rebecca and Alec have much fewer cases. They still offer ‘No Win, No Fee’ claims but can provide the experience and service you deserve – it does not matter that you are not personally paying the bill!

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claims@accident-at-work.legal

01613 597167

We act for anyone in England & Wales