Wednesday, January 23, 2019

Fifty Times Value Multiplier, Is This Possible?

I resolved two cases last week.  The first case my client had $6,000.00 in medical expenses.  The second case my client has $17,500 in medical expenses.  The first case resolved for $300,000.00.  The second case resolved for $27,500.  You read that right.  The first case resolved for fifty times the medicals.  How can that happen?

As a lawyer I often hear "my uncle told me my case is worth three times the medicals."  That may have been applicable in 1960.  It isn't now. A case is worth 1) what a jury will pay or 2) what an insurance company will pay and 3) what your lawyer can get for you and 4) what you are happy taking. We usually don't get to #1 unless an insurance company is significantly undervaluing your claim.

There are also lawyers advertising "get three times more money."  That's a separate issue.  They are saying you will get more with a lawyer than without a lawyer.  They are right.

By the way, if you are curious, the fifty times medicals case involved a serious injury.    I know I did my best to get my client all the money that was available, and did, and hopefully that will ease some of the difficulty she has to deal with on account of her injury.

This week I resolved two other cases cases.  The first one the insurance company offered me $9,000.00 before a lawsuit.  That case resolved for $20,000.00 today.  The second one the insurance company made offers of 5, 7.5, 12, 13.5, 15.5 telling me that was top, and then $20,000.00.  All of these cases resolved for what they were worth from the get go.  It just takes some work to get there.

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Wednesday, January 2, 2019

I MADE A LOT OF MONEY THIS YEAR POSTS

I was born in 1982.  As a result, I'm basically on every form of social media available.  I'm also a plaintiff's lawyer so a lot of PI ads pop up on my feed.  Towards the end of the year its almost a requirement that a PI lawyer posts something like: My Firm Resolved X Million Dollars Worth of Cases This Year!"

I'm not sure how I feel about these posts.  Is there any other business in America where it is appropriate to tell everyone how much money you made?   Do cardiologists post about fixing five hundred hearts this past year?  Are lawyers basically just Birdman posting about driving Bentleys and eating lobster?

(I get that this photo is insane, thanks)

I can't explain why, but I'm ok with lawyers posting about a specific case they resolved, but I'd like details about initial offer, facts, etc to see if someone really did a good job.

I really wish there was some way for PI lawyers to advertise something like "I really helped this client who was struggling financially to stay afloat after this crash.  I was always available to help this client and did everything I could to ensure a positive result.  At the end of the day I really made a difference in this clients life."  But that honestly isn't as impactful in our Kardashian World as "I'm RICH!"

I do get saying you recovered X is basically advertising and letting the world know that you are a successful lawyer.  My take is this info probably belongs on a website.  And don't get me wrong, I'm happy that PI lawyers are sticking it to insurance companies.  I'd rather see "competition" do good than big insurance stick it to the little guy.  The question is how can lawyers find a way to say "I'm successful" without the unhumble brag?

FYI, if you are wondering if I'm posting this because I had a crap year....I didn't.  I had my best year yet.  And also, I haven't seen a I Made A Lot of Money This Year Post yet, so this isn't about anyone in particular.

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