How Much Compensation Can You Get for Mesothelioma

Mesothelioma compensation differs for each type of claim. According to a 2016 Mealey’s Litigation Report, the average mesothelioma trial award is about $2.4 million. The average settlement ranges from $1 million to $1.4 million. If a mesothelioma claim goes to trial, a settlement could be reached or a jury could determine the amount of compensation, if the defendant is found guilty for the asbestos exposure. It can be hard to predict how much compensation can come with each case or how a case will be resolved. An experienced asbestos attorney can help gauge your eligibility and case value.

There are various types of mesothelioma claims that may apply to your situation. An attorney can explain your options and help you file the appropriate claim for your circumstances.If you or your loved one is not filing a claim, there may be other types of financial assistance available.

Types of Compensation Can You Receive

Bankruptcy Trust Funds

Many companies that mined asbestos or manufactured products with asbestos no longer exist. Some were bought by other companies, while others went out of business. Some declared bankruptcy because of the large number of asbestos lawsuits filed against them. This does not mean these companies don’t have money. In bankruptcy protection, many companies were ordered to set up funds to compensate asbestos victims. These funds are known as mesothelioma compensation funds or trust funds.

Settlements

Some defendants decide settling a claim is cheaper than racking up more legal fees and risking a loss at trial.Most mesothelioma attorneys are paid only if their clients’ claims are successful. Defendants’ attorneys, on the other hand, are usually paid an hourly rate throughout the case process, and that cost is not tied to the case outcome.Other defendants are willing to risk a trial. Even if a case goes to trial, a defendant can opt to negotiate a settlement, particularly if the case seems to be favoring you.

Trial Verdicts

If your case goes to trial and the defendants do not settle, a jury will rule them liable or not liable. If the defendant is found liable, money is usually awarded to you. Each mesothelioma case is unique, and there are no set guidelines for claim compensation from asbestos exposure. If you win, the amount owed to you depends on the facts of your case and other factors such as medical costs and lost income.

How to Get Mesothelioma Compensation

Consider the following steps to get mesothelioma compensation:

·         Step 1: Find an experienced mesothelioma attorney

·         Step 2: Work with your attorney to help them discover all about your asbestos exposure history (this step may involve you providing a deposition)

·         Step 3: Consider all options for compensation that your attorney presents, which may include trust funds and lawsuits

·         Step 4: If you decide to file a lawsuit, you may have to consider settlement offers from defendants, or your case may go all the way to a jury trial (the latter is relatively rare)

The most important step is finding an attorney with the right experience. You want to select an attorney who exclusively handles mesothelioma lawsuits. They will have enough experience to strategically handle your case and maximize your compensation.Another important factor to consider is statute of limitations. Each state sets time limits for filing asbestos claims. The statute of limitations is two years for most states, but it can vary from one to six years.

When Will I Receive Compensation

Compensation from an asbestos lawsuit usually comes after a settlement is reached or you win a trial verdict.

·         A verdict from a jury trial could take years, but defendants may offer to settle quickly.

·         Money from asbestos trusts can come within a few months.