What to Expect During a Truck Accident Settlement

If you or somebody you love has been injured in an accident caused by the negligent actions of a truck driver or trucking company, you may be entitled to compensation for your losses. However, the truck accident settlement process can become complex. The truck accident attorneys at Mike Love & Associates, LLC want to discuss what clients can expect during the truck accident settlement process and what types of compensation victims can expect to receive in these cases.

What is a truck accident settlement?

Legal settlements are arranged in a truck accident case when all parties to the litigation reach an agreement outside of court. It should be noted that most truck accident cases are settled before they go to trial. Sometimes, the truck accident case will even be settled before a lawsuit is filed (through insurance carriers).

How can a truck accident settlement benefit you?

Settling a case before it goes to trial is almost always more cost-effective and occurs much quicker than seeking a resolution in court. The settlement process is typically less adversarial than courtroom litigation because neither party has to admit fault on the public record. In cases where both parties are less defensive, their legal teams will be more likely to discuss the issues involved calmly and logically to reach a settlement agreement. A settlement is guaranteed compensation for a truck accident victim, whereas there are no guarantees of compensation when taking a case to trial.

Are there downsides to a truck accident settlement?

While a settlement will typically allow a victim to receive compensation quickly than going through a full trial, the reality is that there are various downsides that you and your attorney need to be aware of concerning a truck accident settlement.

• You (the plaintiff) will lose the right to pursue any further legal claims relating to the truck accident or your injuries after you receive your settlement.

• A settlement agreement may be much less than what the plaintiff would have received by going to trial.

• A settlement means that the negligent parties in these cases will not be held liable for their actions through a public venue.

Types of settlements in these cases

When a settlement has been reached between two parties in a truck accident case, there are two basic ways that the compensation will be paid out to the plaintiff. This can include a structured settlement, in which the plaintiff receives regular payments for a predetermined amount of time (typically monthly payments). A plaintiff may also receive one lump-sum payment in which the total amount agreed upon in the settlement is paid all at once. Regardless of how you receive your settlement, personal injury settlements and jury verdicts are typically not taxed by the IRS (except punitive damages if they are awarded). Another factor to consider in these cases is attorney fees, which will likely be taken as an agreed-upon percentage of the final settlement amount.

What kind of compensation is available?

If you or somebody you love has been injured in a truck accident, there may be various types of compensation available for your case. While no two truck accident settlements are the same, the team at Mike Love & Associates, LLC is regularly able to help clients recover the following:

• Coverage of all truck accident-related medical bills

• Any household expenses the victim incurs due to the incident

• Lost wages and benefits if a victim cannot work while they recover

• Loss of personal enjoyment damages

• Pain and suffering damages

The importance of working with a skilled truck accident lawyer in these cases cannot be overstated. You can contact us for a free consultation of your case by clicking here or calling us at (936) 632-2000.

Mike Love & Associates $10,000 July 4th Fireworks Giveaway!

4th of July Mike Love

​Mike Love & Associates se enorgullece de ofrecer a la ciudad de Lufkin un espectáculo de fuegos artificiales del Día de la Independencia durante los últimos 15 años. Desafortunadamente, la Extravagancia de fuegos artificiales del 4 de julio de 2020 en Ellen Trout Park ha sido cancelada debido a la pandemia de COVID-19. Las preocupaciones de mantener el distanciamiento social, junto con la incapacidad de predecir si las restricciones de reunión social exigidas por el estado se levantarían a tiempo, jugaron un papel importante en la decisión de la Ciudad.Sin embargo, todavía hay una oportunidad para mantener el espíritu de las vacaciones. Mike Love & Associates le está dando a las familias la oportunidad de celebrar el Día de la Independencia por su cuenta. ¡Estamos organizando un concurso para regalar cupones que te permitirán celebrar tu propio espectáculo privado de fuegos artificiales con distancia social!

​Los términos del concurso

Regalaremos cupones de $100 a 100 residentes en el área de Lufkin. Estos cupones se pueden canjear en un vendedor local de fuegos artificiales que se anunciará.

Cómo entrar. Para participar, complete el siguiente formulario. Las entradas incompletas no serán consideradas. Entendemos que muchos en la comunidad pueden estar decepcionados con los cambios, pero los funcionarios de la Ciudad enfrentaron una decisión increíblemente difícil, y todos estamos haciendo todo lo posible para garantizar la seguridad y el bienestar de nuestra familia.¡Pase unas vacaciones divertidas y seguras con su familia y sus seres queridos, y búsquenos para que regresemos a la moda en 2021!

Mike Love & Associates está aquí para la comunidad

Por más de 20 años, Mike Love & Associates ha ayudado a los residentes de Lufkin a buscar el apoyo y la compensación por cualquier lesión que puedan haber sufrido debido a la negligencia de otro. Entendemos el estrés, la frustración y las luchas financieras que surgen de un accidente repentino e inesperado y estamos dedicados a luchar a su lado para garantizar que reciba la compensación que se merece.Asistimos a aquellos en Lufkin y en todo el este de Texas con cualquier lesión que puedan haber sufrido debido al descuido y a la negligencia de otra persona. Si sufrió lesiones graves en un accidente o si tiene alguna pregunta sobre su situación, contáctenos hoy y haremos todo lo posible para ayudarlo.<iframe src="https://www.googletagmanager.com/ns.html?id=GTM-KF6XSZT" height="0" width="0" style="display:none;visibility:hidden"></iframe>

Mike Love & Associates’ $10,000 July 4th Fireworks Giveaway!

4th of July Mike Love

The “BIG SHOW” at the park is canceled for social distancing this year, so the Mike Love & Associates law firm is bringing the show to you by giving away $100 worth of fireworks to 100 East Texas Families.  We may have to wait until 2021 before we can light up the ENTIRE East Texas sky again, but we can still celebrate this great country with family and friends. Winning entries will receive a $100 fireworks voucher from “94 Fireworks” in Hudson, Texas.Enter below for a chance to win your share of our $10,000.00 Fireworks Give Away.  We look forward to seeing you all again for the “BIG SHOW” next year at Ellen Trout Park![gravityform id="3" title="true" description="true"]*All fields required*Only one entry per person will be considered. 

Mike Love & Associates is Here for the Community

For more than 20 years, Mike Love & Associates has helped East Texas residents who have been injured due to someone else’s negligence. We understand the stress, frustration, and financial struggles that can result from unexpected accidents.  Our firm is well known for “leveling the playing field,” and we are proud to fight for the compensation you deserve. If you have been seriously injured in an accident or have questions that require answers, please get in touch with us today. 

Junior Achievement

Junior Achievement of Angelina County is a program dedicated to financial literacy, work readiness, and entrepreneurship in young adults. Members of our staff enjoy giving their time by being in the classrooms and teaching life skills to the students.    We also support fundraising activities such as the Wall Street Stock Market Challenge where we were able to have a team and compete against other members of our community.

Understanding Punitive Damages in Texas DUI Cases

Any car accident can be an incredibly scary and confusing experience for those involved. This is particularly the case for victims struck by a drunk driver. Unfortunately, these incidents are not uncommon in Texas. According to the state’s Department of Transportation, there were more than 24,000 auto accidents caused by drunk drivers during the latest reporting year in Texas. Out of those incidents, there were:

• 940 fatalities

• 2,138 suspected serious injuries

• 5,082 non-incapacitating injuries

• 6,320 possible injuries

There are various types of compensation that may be available to victims in the aftermath of the DUI crash.

What are punitive damages and how do they differ from other damages?

In most car accident cases, the injured victim (plaintiff) will not be seeking punitive damages from the at-fault driver. However, there are some exceptions to this.In the aftermath of a crash, victims may be entitled to various types of compensation for their losses. In personal injury law, damages fall into one of two categories: compensatory damages and punitive damages.

Compensatory damages

Compensatory damages are divided into economic damages and non-economic damages. Economic damages include coverage for medical bills, lost income, and other financial losses. Non-economic damages include pain and suffering and mental anguish damages that resulted from the accident injuries. Typically, compensatory damages are the main focus of a car accident case.How much money a person receives on compensatory damages will vary depending on the facts of their case. This includes the severity of the injuries, the cost of medical bills, the amount of lost income, pain and suffering costs, and more.

Punitive damages

Punitive damages are a special category of compensation in a Texas personal injury case. These damages are not considered compensatory, as they are not meant to compensate the plaintiff for any injuries or damages they suffered.As the name suggests, punitive damages are awarded for the purpose of punishing the at-fault party (the defendant). These damages also act as a deterrent to others who would behave in a similar manner.The appropriate amount of punitive damages awarded will be based on a consideration of a number of factors, including:

• How much the defendant has in assets

• The character and nature of the defendant’s conduct

• How much harm others might suffer if the defendant is not punished

• The actual harm the plaintiff suffered in the incident in question

There are caps on punitive damages in Texas. These damages are capped at the greater of $200,000 or two times the total amount awarded in economic damages plus the amount equal to non-economic damages is up to $750,000. It should be noted that this cap does not apply if the act in question was a felony, which many DUI cases are.In order to collect punitive damages in the aftermath of the drunk driving accident case, the plaintiff will need to provide clear and convincing evidence of gross negligence on the part of the defendant. Proving gross negligence typically requires two elements:

1. That the drunk driver should have known that their behavior involved an extreme risk

2. That the drunk driver understood the risk but did not care or disregarded it

It is vital that a DUI accident victim works with a skilled car accident attorney in Texas to ensure they receive maximum compensation for their claim. An attorney will be able to help a victim properly calculate their total losses and advise whether or not punitive damages are appropriate.