Switch to ADA Accessible Theme Close Menu
Florida Personal Injury Lawyers
$3,830,000

Catastrophic motorcycle accident resulted in a jury verdict.

$1,748,000

Auto accident, multi-car crash

$1,200,000

Auto accident

$1,035,000

Auto accident involving defective airbag

$850,000

Auto accident

$700,000

Auto accident

$700,000

Auto accident

$600,000

Hospital turned away patient

$550,000

Auto accident involving tractor trailer

$450,000

Auto accident

$400,000

Car accident

$350,000

Golf Cart Accident

$300,000

Slip and Fall at Work

$210,000

Slip and Fall

$195,000

Auto Accident

$175,000

Accident involving pressure cooker

$106,890

Auto Accident

$100,000

Auto Accident

$100,000

Auto Accident

Call: 844-200-0000
Free Initial Consultation
Do you opt in to being contacted via SMS texting or phone call?
 
protected by reCAPTCHA Privacy - Terms

Debunking Some Common Myths About Personal Injury Settlements

MythsVFacts

If you suffer injuries in an accident because of another party’s negligence, you could recover compensation for your injuries and damages. Most personal injury cases are resolved through a settlement agreement between the plaintiff and defendant. The settlement amount you recover depends on the facts surrounding your case. Unfortunately, many myths about personal injury settlements confuse those seeking compensation for their injuries. It is crucial that you understand the truth behind these myths. This article debunks some of the most prevalent myths about personal injury settlements.

Myth #1: You Will Get Rich Quick

If you want a get-rich-quick scheme, filing a personal injury claim isn’t the way. A personal injury settlement is meant to compensate you for your injuries and damages, including medical expenses, property repair costs, lost wages, and pain and suffering. It is not meant to make you rich. Indeed, some settlements can be substantial. However, that depends on several factors, including the severity of your injuries, the extent of damages incurred, and insurance coverage.

Myth #2: You Cannot Recover Compensation for Damages Not Yet Suffered

Some personal injury victims suffer injuries that impact the rest of their lives. If you have suffered such an injury, you are entitled to recover compensation for future damages. These are the damages you expect to suffer later in life. Some future damages you may be eligible to be compensated for include medical expenses, a decrease in earning capacity, and the cost of long-term personal care and assistance.

Calculating future damages can be challenging. A skilled personal injury attorney can help you hire professionals who can estimate future damages.

Myth #3: Your Personal Injury Settlement Is Taxable

The last thing someone injured due to another party’s negligence wants to worry about is their settlement amount being taxed. The good news is that most personal injury settlements are not taxable. However, some components of your settlement may be taxable, including lost wages and punitive damages. It is best to speak to a professional to understand potential tax implications specific to your case.

Myth #4: A Personal Injury Attorney Can Tell You Exactly How Much Settlement You Can Recover

A personal injury attorney cannot tell you exactly how much you will recover. A skilled attorney understands that many factors can impact how much you recover. An attorney can assess the factors of your case and provide an estimate, but they can’t predict a specific recovery amount.

Myth #5: You Will Receive Your Settlement Quickly

Indeed, some personal injury victims receive their settlements quickly. However, some cases can take months, a year, or even more than a year to settle. Several factors can impact how long it takes to receive a settlement, including the severity of your injuries, the complexity of your case, and the willingness to negotiate. For instance, how long it takes you to recover your compensation depends on how long it takes to reach maximum medical improvement (MMI). This is the point where your injury has healed or is unlikely to improve any further.

Contact a Tampa Personal Injury Attorney

If you suffered injuries in a Florida accident because of another party’s negligence, contact our Tampa personal injury attorneys at The Pendas Law Firm for legal assistance.

The Pendas Law Firm also represents clients in the Miami, Jacksonville, Ocala, Orlando, Bradenton, Daytona Beach, West Palm Beach, Naples, Melbourne, Fort Myers, and Fort Lauderdale areas.

Read What Others Have To Say About Us

  • “I can’t express how much I appreciate this law firm. I had the honor to deal with attorney Daniel. He kept me updated on my case. I couldn’t ask for a better law firm. Daniel fought for me til the end and got me what I deserved. Thanks Daniel and your team for always being there to answer any of my questions. If I ever need a law firm again...”

    Terry Mcphillips
  • “Speedy & superb handling of clients & cases, kind & caring. Highly recommended professionals. They made everything very easy for us, were outgoing & polite. I would call them again if ever in need, rather than call the larger firms that need to advertise & brag about winnings…Pendas was a pleasant & more personal approach instead of...”

    Joseph Kestell
  • “Wow I called Pendas Law Firm the other day at their main intake line it was around 11 o’clock at night and I’ve got this wonderful representative his name was Jeffrey Alvarez. This guy was very professional and his compassion was out of this world I don’t know what I would do if I could not have got a hold of him...”

    Luis Sanchez
  • “Thank you for helping us in our time of need. This firm handled my father’s workers comp case, and helped us with every question we had, and we had a plenty. Thankful for the entire legal team!”

    Enilno Resu
  • “I just concluded a case with attorney Michael Sanchez and paralegal Camilo Lopez. I can only say they are exceptional. The customer service is unique, they have been battling alongside me since day 1. They are not only courteous and professional, but they also are amazing at their job. Thanks to them I got a great deal. I am glad I decided to use their services...”

    Israel Garcia
  • “Their attorneys are absolutely someone you want handling your car accident claim. They communicated with us promptly and thoroughly. I was very happy with our recovery. Already recommended them to others in the same circumstances, their staff speaks Spanish and you feel like in family.”

    Ian Brito
  • “Very Professional law firm. They explained to you every detail what to do according to the laws (worker’s compensation). Mr. Danilo Cruz is the best Lawyer and his team. They are very kind, friendly, responsible, I love this firm. They fight for their clients. AwesomeTeam!”

    Lau Rod