Make Financial Plans for Your Recovery Period

Jeffersonville Auto Wreck

Recovering from an Atlanta auto wreck means something different to every car crash victim. In fact, it’s something that you should carefully consider and discuss with your medical team, so you know realistically what’s in your future. You should also work with an auto crash attorney in Atlanta to help you get full compensation for your injuries.

Should You Have a Sinking Fund or Savings in Case of an Atlanta Auto Wreck?

Those who plan for their financial future very carefully may have multiple sinking fund accounts. But should you have one for recovery after a crash? The common belief is that your car insurance serves this purpose, but that’s not really the case. You pay for car insurance because the state tells you to and because you need to have a certain degree of compensation available should you cause harm to another.

When it comes to managing your own recovery, you will likely have a very hard time getting more than the minimum offered from the other driver’s policy or your own.

Why Shouldn’t You Expect Insurance to Cover Everything?

Insurance companies often use systems that don’t run any real formula. Basically, insurance companies make it unreasonable and nearly impossible to have any clear expectations on a settlement check. Most companies will rely on a tool called “Colossus,” but even then, that system kind of just spits out a number. The only thing you can plan for with a settlement from an insurance company is that it will be less than the amount you need to cover in property damage and medical bills.

You should not expect your insurance policy to provide an offer that includes pain and suffering or additional expenses outside of medical bills and property damage. The best way to plan for this is to have your negotiations ready. Working with an Atlanta personal injury attorney for car accidents should have a system in place to negotiate for the best possible compensation opportunity.

What Happens to Your Medical Bills During Recovery?

If you’re working alone, then you’ll receive your medical bills directly. If you among the American’s who has healthcare coverage, you may begin to realize the full extent of your out of pocket costs and how debilitating they can become in just a few weeks.

However, if you’re going through an Atlanta car accident attorney, then you’ll have another route available. These attorneys work with medical billing professionals to put collections on these bills on hold while you’re in recovery. They’ll work with the hospital or insurance network for your medical coverage and assure them that they’ll get paid when you do.

When you’re going through an Atlanta attorney, your attorney or law office will work with the medical billing professionals to pay them before you receive your check. Basically, your law office will receive the full amount of the compensation awarded to you. Then they’ll take out their fee, pay any medical bills, and even pay any auto shops that they placed a lien with then. They’ll send the remaining amount to you.

When Can You Get Your Car Fixed?

While financial planning, you’ll probably wonder when you can get your car repaired. Typically when you’re going through the compensation process on your own, you’ll be told where to take your car. That means you won’t be picking your own auto shop. In fact, many insurance companies will not honor compensation if you go to your own mechanic.

You can have your car repaired while you’re waiting on the compensation, but you’ll have to pay your deductible out of pocket. If you’re not going through an attorney, then the insurance company will likely distribute a check to you with the auto shop’s name to indicate that the purpose of the check is to pay that shop for repairs.

These checks are often troublesome in that people don’t understand how to handle them or transfer them. In many of these instances, it is easier to work with a local lawyer.

Contact Our Atlanta Auto Wreck Attorneys for More Information

When working through the financial pitfalls of an Atlanta auto wreck, you can face many issues in planning and execution. Even with a solid plan, one misstep, and you’ll be facing issues for months or years. Don’t let one bad wreck in downtown Atlanta leave you and your family drowning in medical debt for the next five or ten years.

You can make some financial plans, and have options available to stay in control of your finances during your recovery. Contact our Atlanta auto wreck injury law firm to explore how you can manage your claim while you’re trying to get back on your feet.

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