The best resolution of a personal injury case is almost always settlement. The alternative to settlement is a trial, either with the judge or jury. Trial results cannot be guaranteed. You can get more money, less money, or no money at all. On the other hand, a binding settlement is guaranteed. For this reason, and others, we prepare all our cases for trial while striving for a settlement. Learn more about Common Reasons for Personal Injury Cases Going to Trial. In my 20-plus years of experience practicing personal injury law, here some of the aspects of settling a personal injury case clients most often ask about.
The Core of a Settlement Agreement
In exchange money compensation, you will agree to drop your case and forever release the defendant from liability for the incident. This is the main thrust of a settlement. The at-fault party, or their insurance company, want to prevent a money judgment from being entered against them. You want money compensation for your injuries. The exchange of these things is the heart of nearly all settlement negotiations. Here are some ways we Resolve an Injury Case Before Trial.
Understanding the Release Terms
The terms of the settlement are spelled out in a release that you’ll have to sign before you get the money. Releases can have many terms, which must be bargained for during the settlement negotiations. As with many contracts, it is important to read and understand the terms to prevent you from agreeing to something that you shouldn’t. For example, sometimes at-fault parties, or their insurance companies, try to get you to release non-related parties. Be sure the terms of the release match the negotiations. Here are some questions you should ask to determine Whether or Not Your Settlement is Offer Fair.
The Payment Process
The money from a settlement usually first comes as a check from the insurance company. We then deposit that check into our client trust account. Then, once the funds clear, deduct our attorney fees and expenses, pay any valid liens, then write a check to the client for the net recovery. This process can take up to a month.
Talk to a Personal Injury Lawyer
These are some of the basic aspects of a personal injury settlement. If you’ve been hurt in a personal injury accident and would like to talk to a lawyer about the process, please contact MRH Law. We have the experience and knowledge to answer your questions.