You can claim economic damages if you suffered an injury because of negligence. You may even feel excited about the prospect of a settlement, but the harsh reality is that working through a legal case can feel rushed and overwhelming.
Plus, you must understand all the timelines for filing your claim in Illinois. You may forfeit your right to claim compensation if you miss a deadline.
For example, the Illinois statute of limitations is two years. This may sound like a far-away deadline, but it means that you must act with urgency.
It is easier than you think to reach and even miss this deadline. If you do, you will find getting the compensation you need challenging.
What Are Economic Damages?
If your case focuses solely on economic damages, you will seek compensation for physical damages. These damages include but are not limited to:
- Medical costs. This includes initial hospital stays, further surgeries, doctor visits, and rehabilitation. It also includes medications and treatments.
- Loss of income. If you lose out on income while you recover from your injuries, you can add this to your list of damages.
- Future earning potential. If you can no longer work because of your injuries, your potential future income loss will form a big part of your claim.
- Property damage: You should also include the costs of repairing or replacing personal property damaged due to the incident.
For many people who suffer economic damage, restoring their financial stability after an accident is crucial. You can often directly quantify your losses and tie them to bills and receipts. This should form the biggest portion of your personal injury settlement.
Two-Year Statute of Limitations in Illinois
The statute of limitations sets the maximum time after an event within which you can initiate a legal claim. The law is clear in Illinois: get your claim within the two-year deadline or struggle to claim compensation. In most instances, a case that is not filed in time is dismissed by the court.
Why a Two-Year Deadline?
The idea behind a short two-year deadline is that victims should file claims while the evidence is fresh. The longer you wait to file a claim, the higher the risk of memories fading and witnesses becoming unavailable. It is also possible that vital documentation may be lost.
A strict deadline can help you and your lawyer preserve the integrity of the legal process. It also gives you a degree of predictability that might bode a good outcome for your case.
How Two Years Impacts Your Economic Damages Claim
Everything you should do regarding your case must happen long before the two-year deadline.
This means gathering evidence from the get-go. One of your most significant challenges when proving economic damages is providing documents that show your losses. You need accurate and comprehensive records on all counts. If you delay collecting the necessary information and documents, your case will be weak.
The Role of Medical Documentation
Medical records will form the most important part of your economic damages claim. These records will provide a detailed account of your injuries, treatments, and ongoing care. Most importantly, your medical records will link the accident or incident to your injuries.
If you don’t get medical attention or don’t obtain your records, you will find it very hard to prove the extent of your health damage. Conversely, getting these records as soon as possible will support your claim. It gives you an accurate record of your injuries that will stand before a judge and insurer.
Importance of Financial Documentation
Your economic damages claim will also rely heavily on clear financial records. This relates to your loss of income. You must include pay stubs, tax returns, and proof of work absences.
You must also include future costs in your claim if you need ongoing treatment or rehabilitation. This means providing detailed estimates and invoices.
Getting all this information ready before the two-year deadline increases the likelihood of a successful outcome.
Protecting Your Claim
You deserve compensation if you are injured in an accident or incident that was not your fault. This also means you have to protect your claim at all costs.
One of the first steps is to consult with an attorney specializing in personal injury law. The more expertise your lawyer has, the better your chances of filing a successful claim within the two-year deadline.
Your lawyer will also advise you on the best way to get additional evidence if you need it.
Moreover, your lawyer will compile all the evidence you already have. They may keep a physical or digital folder dedicated to your documentation. This will give your lawyer an overview of your medical files, financial documents, and all correspondence with insurance companies.
It is easier to keep documentation consistent if it is all in one place, following one structure. If something is missing, your lawyer will immediately notice and work on getting the required information.
Furthermore, your lawyer will keep your folder updated with all relevant information that can affect your case. This will be noted in the folder if you have follow-up medical appointments or more treatments scheduled.
Ongoing record-keeping is the best way to support your claim beyond immediate losses.
Missing the Two-year Deadline
If you miss the two-year deadline for whatever reason, there is a strong likelihood your case will be dismissed. This means you will not be allowed to file for compensation at all.
Missing the deadline also extends beyond a claim dismissal. You instantly lose your bargaining position if you are actively involved in insurance company negotiations.
Even if your claim is still allowed through the insurance company, you will probably get far less than you need.
Being Proactive Is the Best Way to Go
If you file a personal injury claim in 2025, keeping the statute of limitations in mind at all times is crucial. This will spur you on to gather the information and documents you need when you need them.
Your lawyer will work with you to get all the elements in place to secure a fair compensation. The more informed and prepared you are, the better your chances of being awarded a settlement.
