Even if you can’t afford to take time off after an injury, it’s crucial that you try to find a way to do so. Otherwise, the value of your claim can be significantly diminished, and you could face financial hardship in the future. An experienced San Antonio personal injury attorney can explain why it’s necessary to take time off after an injury and explore options on how to handle your expenses now while waiting for your personal injury settlement.
Why Taking Time Off After an Accident Matters
If you were injured due to someone else’s negligence, you could be entitled to recover compensation for your lost wages by filing a personal injury claim. This includes your current lost wages, as well as future lost wages. It also covers any reduction in your long-term earning capacity caused by the accident. However, it may take several months or longer before you can recover compensation through a personal injury claim.
If you continue to work despite your injury, you might forfeit the compensation you are owed. Additionally, you could cause yourself further injuries or delay your recovery.
While many people may find that they are not financially equipped to deal with taking weeks, months, or longer off work due to an unexpected injury, working through the pain could cause you to suffer more in the long term. You could be exchanging hundreds of dollars you’re losing by not being able to work now for thousands you could recover through a San Antonio accident claim.
Options for Meeting Your Current Financial Needs While Recovering
Depending on your situation, you may have several options for meeting your current financial needs while you recover from your injuries. Talk to your lawyer, financial advisor, or tax consultant about these possibilities:
- Use your savings – If you have been able to put a little money aside in a rainy day fund, today is the day to tap into that. If you receive a settlement down the line, you could always replenish. Even if you have to tap into your retirement fund, you can add the funds back after you receive your settlement. You can also explore if you can avoid tax penalties due to emergencies or paying off debt.
- Use your insurance – You may have various forms of insurance that can help cover your losses while you wait on a personal injury settlement. For example, you might be able to use your collision insurance to pay for your vehicle repairs instead of paying for them out of pocket. You might be able to use your health insurance to cover your medical bills. You may have short- or long-term disability benefits you can use that can help cover a portion of your lost wages.
- Use your employment benefits – If you have sick leave, vacation time, or PTO that you haven’t used, consider using these benefits. You can seek compensation in your personal injury claim for these lost benefits.
- Borrow money – You may be able to borrow money from a friend, family member, credit card, or on your home to get you through this rough patch. Some entities also provide lawsuit funding for this purpose.
Each of these options can have different financial, tax, and legal effects, so be sure to work with a trusted advisor before taking action.
Contact Us for Help Exploring Your Options
If you’ve been injured in an accident due to someone else’s negligence, you shouldn’t have to pay the consequences. However, you might have to at least temporarily, but an experienced attorney from George Salinas Injury Lawyers can help you consider all your available options. Learn more by calling 210-225-0909 and requesting a free consultation.