Getting Compensation When Your Employers Go Bankrupt

Like accidents, the bankruptcy of a company can happen suddenly in the most unexpected times. While it may take a lot of bad luck to meet a workplace accident just a day before the company you are working for has tanked, it is possible and it can happen to you as well.  So what will you do?  Will you still be compensated for your injuries? To answer this question, we have to delve on several aspects of the compensation process.

Who pays the compensation?

If you get injured while doing your job for a company that suddenly went bankrupt, you can still get compensation. The reason for that is it’s not your employer per se who will pay for your accident compensation but the insurance company they pay every month.  So, if your company had religiously paid the premiums for the compensation insurance, you will have no problem. If the company you work for does not pay the insurance company regularly, you may have a problem getting compensation. It is important therefore to have an accident lawyer to protect your rights.

Don’t delay filing your claim

Time lost is chance wasted.  When it comes to any compensation claim, you should file as soon as you can, most especially if your company has already filed for bankruptcy.  Not filing for the claim immediately gives failure a chance to swoop in and hinder you from getting the money you deserve.

Always have a good accident lawyer

In special cases like filing for claim against a company that has gone down under, an accident lawyer is an indispensable person.  They know the ins and outs of the law and can protect you from being misled by insurance companies.  Accident lawyers also ensure that all the moves you make regarding your compensation claim is going to work towards winning.  Not having an accident lawyer for your compensation claim is like going to a war without a weapon.

Some drawbacks

There are some possible issues, however, if you are filing a workplace accident compensation against a company that’s already tanked. Your compensation may take longer to process than usual. That is because the insurance might find it difficult to get information from your former bosses.

Also, some of the benefits you get from workers’ compensation depend on whether you can go back to work or not or if the company you worked for is no longer around.  However, if you have a reliable accident lawyer on your back, you should be able to ride these issues and get the full benefit you deserve based on the law.

So, stop worrying whether you are going to be compensated for the injuries you receive from an accident that happened while you do your job, even if the company you worked for becomes bankrupt. Under such circumstances, you still get your compensation with the help of an accident lawyer.

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