If you’ve been injured in an accident, there’s a good chance you’ll file a personal injury lawsuit. This is a big decision, and it’s essential to understand what will happen once you win. This article will discuss six things that will happen after you win your injury case.
What Is A Personal Injury?
A personal injury is any physical or psychological injury you suffer due to someone else’s negligence. This includes car accidents, slips, falls, medical malpractice, etc. If you’ve been injured in an accident, you may be able to file a personal injury lawsuit to recover damages, like at Goidel and Siegel.
What Is A Personal Injury Lawsuit?
A personal injury lawsuit is a legal action taken when someone has been injured due to another person’s negligence. This lawsuit can be filed against an individual, a business, or a government entity. You may be entitled to compensation for your injuries if you’ve been injured in an accident.
What Happens After You Win A Personal Injury Lawsuit?
Once you win a personal injury lawsuit, there are a few things that will happen. First, the court will issue a judgment in your favor. This means that the person or entity you sued will be required to pay you the amount of money awarded to you by the court.
You will be required to pay taxes on the money you receive from your injury lawsuit. The Internal Revenue Service (IRS) views this income as taxable. You must report the payment on your tax return and pay taxes.
Fourth, you will finally receive the compensation you are owed. This money can be used to pay for your medical bills, lost wages, and other damages.
Second, the court will issue an order that requires the person or entity you sued to pay your attorneys’ fees and costs. This is important because you won’t have to pay anything out of pocket for your legal representation.
Place A Lien
Third, the court may place a lien on any property owned by the person or entity you sued. This means that if they try to sell any property, the money from the sale will go towards satisfying the judgment against them.
Fourth, the court may order the person or entity you sued to pay interest on the money you awarded. This interest will accrue from the date of the accident until the date that the judgment is paid in full.
Fifth, if the person or entity you sued does not have enough money to pay the judgment, the court may order them to sell some of their assets to raise funds.
Writ Of Execution
Finally, if the person or entity you sued refuses to pay the judgment, the court may issue a writ of execution. This writ allows the sheriff to seize the person or entity’s assets and sell them at a public auction. The proceeds from the sale will go towards satisfying the judgment against them.
What Happens If You Lose?
You will not be entitled to compensation if you lose your injury lawsuit. Additionally, you may be required to pay the other side’s attorney’s fees and costs. This is why it’s essential to consult with an experienced personal injury attorney before filing a lawsuit.
These are just a few things that can happen after winning a personal injury lawsuit. It’s essential to understand all of your options and rights before taking legal action. Partners at Goidel and Siegel can help you with taking action. An experienced personal injury attorney can help you determine what course of action is best for you.