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When your employer fails to compensate you as required by law, you may have the right to take legal action against them. Filing an employment law claim for unpaid wages may be in your best interests if you hope to recover the compensation that is rightfully yours. However, when considering your legal options, it is essential to remember that there is no average settlement for unpaid wages.
The amount of compensation you win in an unpaid wage claim is based on too many specific factors for an average payout. However, your employment law attorney can help you review your damages to determine your claim’s worth and how much you could expect to recover. When you do not have time to wait for your settlement, consider contacting High Rise Financial for a pre-settlement lawsuit loan.
There Is No Average Settlement for Unpaid Wages
Although you may be looking for answers as to how much compensation you could expect to recover as part of your unpaid wage claim, too many factors are at play that make it impossible for an average unpaid wage settlement.
The average would combine the lowest settlement pay house and the higher settlement payouts to determine the average anticipated settlement. However, due to extreme wage fluctuations, an average settlement is impossible.
But your attorney can help you determine how much compensation you could win in your unpaid wages settlement. By reviewing how your life has been affected by your loss of income, the amount of income you earned, and other factors, you can determine how much your settlement could be worth.
To apply for free, call (877) 735-0016
Factors that Determine What Your Settlement Is Worth
Multiple factors influence the compensation you could win in your unpaid wages claim. These include:
- Your wage-related losses
- Whether you had medical expenses
- The impact of your non-economic damages
- Whether punitive damages are expected
Your Wage-Related Losses
When you file a claim for unpaid wages, you have the right to compensation for every loss. In addition to the income you missed out on when you were wrongfully terminated or otherwise not paid for the hours you worked, you also have the right to compensation for other types of wage-related losses. These might include:
- Your loss of employer-provided health insurance
- Your loss of employer-provided retirement savings contributions
- Loss of your paid time off
- Loss of vacation pay
- Loss of sick time
- Loss of potential future earnings
- Diminished earning capacity
Furthermore, when you have been denied the wages you deserve and potentially wrongfully terminated if your professional reputation has been destroyed, your lawyer may also recover compensation for these losses.
Medical Expenses
If you had to take time off work due to an injury and were not paid for the hours you worked before the incident, or you require ongoing physical therapy or mental health counseling due to employment law violations, you may have the right to compensation for your medical expenses.
This does not only include the cost of a hospital stay and ongoing medical treatment. You are also entitled to compensation for things like:
- Transportation costs
- Medical co-pays
- Prescription medications
- Medical devices and equipment
- Future medical care
Non-Economic Damages
In addition to the financial losses you have experienced after your employment dispute, you are entitled to restitution for certain non-economic damages. These do not have a specific monetary value, but that does not mean that they are not worth something.
Your attorney will go over the emotional trauma you experienced, the impact your lost income had on your credit report and score, and your inability to live your life normally when calculating the value of your claim. Since non-economic damages are subjective, their value can vary widely on a case-by-case basis.
Punitive Damages
Punitive damages are not a loss you are entitled to recover when you file a claim for unpaid wages. However, if the court system determines that the defendant’s contact was intentional, despicable, or grossly negligent, your settlement may be increased to punish the liable party for their actions.
Punitive damages are awarded to discourage other parties from engaging in similar conduct in the future and punish the defendant for their wrongful acts.
How to Get an Advance on Your Unpaid Wages Settlement
When dealing with an unpaid wages claim, you do not have time to wait for your case to be resolved. If you were wrongfully terminated and are not currently earning a living, you may find yourself in particular need of financial support.
If your current monthly expenses are unpaid, you could wind up in foreclosure, having accounts sent to debt collectors, and in financial ruin. Thankfully, when you contact High Rise Financial, you do not need to face such extreme economic instability.
How Lawsuit Loans Work
Lawsuit loans may seem like a solution that is too good to be true, but with High Rise Financial, this is not the case. We get you in advance on your anticipated unpaid wage settlement without compound interest.
Then, once your settlement funds come in, you repay your loan. Our loans are non-recourse, so you only have to worry about paying us back if we win your case. You will not be expected to repay your loan if we do not win. This is similar to how your attorney’s contingency agreement works.
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Contact High Rise Financial for Pre-Settlement Legal Funding Today
If you are interested in applying for an advance on your unpaid wage settlement but need help finding where to turn for help, feel free to contact our compassionate and experienced loan specialists at High Rise Financial.
You can access a portion of your unpaid wage settlement ahead of time by obtaining a lawsuit loan. Learn more about how pre-settlement funding works and whether you qualify when you fill out our online application, complete our quick contact form, or call our office.
Call or text (877) 735-0016 or fill out our form to apply today for free.