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Recovering Financially After a Truck Collision

Being in a truck crash in Hollywood or anywhere in South Florida can mean a lengthy recovery time. Whether you’ve suffered a fracture, amputation, back injury, lacerations, or head trauma, the healing process can take some time. In addition, you may need time to recover from the emotional trauma of being in a traffic crash.

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There is one additional type of recovery you may need to consider after a trucking collision: financial recovery. The truth is, being in a truck accident can be very costly. You may lose time at work and you may face considerable medical bills if you have been injured. You may need to repair or replace your car as well as any damaged possessions inside of it. Even paying for taxis or rentals can add up.

Luckily, there are a few ways you can protect yourself financially and speed up the recovery process after a car accident:

1) Keep lots of evidence of your expenses and your accident.

Start the documentation process right away, so if you have a claim you have the best chance at compensation. Any time you spend any money related in any way to your accident or injury, keep the receipts.

2) Talk to an attorney right away.

One of the first calls you should make after your crash is to a personal injury attorney in Hollywood or your community. The sooner you start to take action on your claim, the stronger a claim you may have. An attorney can help you evaluate all your options for legal claims, insurance claims, and other possibilities, so you don’t lose out on any sources of compensation. An attorney can help you file a claim if that is what you decide to do and can help advise you of the likely long-term costs of your injury as well as the most likely options for securing the compensation you need.

3) Create a budget.

As soon as you find yourself on the road to recover, create a budget so you can plan how to spend your money. Keep track of where your money goes so you can stay more in control of your finances.

4) Cut back on spending immediately.

As soon as you can, reduce spending and get rid of any extraneous expenses. Cutting back on cable, subscriptions and spending money can ensure you have more to pay towards upfront costs related to your medical costs and other costs. If you lose time at work, especially, reducing spending can lessen the impact of a reduced paycheck.

5) Take steps to protect your credit score.

Your credit score is one of your most important financial assets, and it can be all-too-easy for your credit score to drop after an accident. Sign up for automatic bill payments to ensure you are paying your bills on time, even if you’re in the hospital. Make sure you make minimal payments on all your bills so your score does not drop.

6) Make short-term and long-term financial plans after your crash.

If you have been injured and cannot work, how will you rein in spending and get the income you need? How will you pay for the next few months? How will your injury affect your spending over the next few years, and how can you offset these effects? It can be useful to review any plans or questions with your attorney, who can help you  explore your options.

If you’d like to speak to a truck accident attorney in Southern Florida, contact Flaxman Law Group for a free consultation. Our attorneys can review your case with you so you understand your financial options.