Is there a formula used to determine my settlement?
It’s determined by loss of earnings and loss of earning capacity within the accident. So, say as a grocery store clerk you were earning $15 an hour, and you were working 40 hours a week, and so we can quantify that amount of damages (earnings). If, after the accident, you had to go on disability or Social Security Disability, you could determine the difference between the earnings before the accident and subtract it from the Social Security Disability benefits. In that case, the difference would be the loss of day-to-day earnings from the date of the accident. It is generally awarded as a lump sum at the time of trial, discounted back to the present time.