Negligent accidents caused by others that leave you suffering in pain allow you recourse under the law through a personal injury case to recover your financial losses. These typically begin as personal injury claims with the insurance company, though personal injury cases may become civil lawsuits to reach a settlement agreement when insurers minimize your worth.
Understanding legal settlements and how settlement checks work is important for anyone who has endured an injury in a personal injury accident. Insurance agencies take advantage of your desperation, preying upon you while causing you undue stress. Azizi Law Firm fights for the best interests of injury victims through legal counsel and support. In this blog post, we discuss the settlement check process after a civil lawsuit, how personal injury victims receive their funds, and why you need an attorney to stand up for you from the start of your case.
What Is a Settlement Check?
A settlement check refers to settlement proceeds received from your personal injury case. In most personal injury cases, legal matters are resolved before they can reach a courtroom, which avoids the costs of a lawsuit.
When a settlement offer is made that is agreeable to both parties, you will receive a settlement check. However, it is important to understand that the settlement process takes time from negotiations to when the settlement check arrives.
Since injured victims count on settlement money from the insurance company to pay for medical expenses, cover lost wages, and other costs, it is vital to understand the entire settlement check process. This will help you be prepared for what is to come. Working with an experienced personal injury attorney will make the process go more smoothly, reducing your stress and allowing you to focus on healing.
What Should a Settlement Check Include?
A settlement check should include full and fair compensation of all costs related to your injuries and financial losses related to the accident. Your lawyer will be able to make these calculations, and you can do your part to help by keeping organized.
One thing you should do is keep a file with all of your medical costs. Every bill for every treatment should be included to show the length of your required medical care and treatments.
Lost income is another important consideration of the check, especially if you are unable to return to your job or can’t work again due to your injuries. You may need to continue future treatments and rely on assistive medical devices for the rest of your life, and if so, these costs must be factored into the settlement check the insurance company sends to ensure it is fair.
Your pain and suffering and other non-economic damages are also important considerations. Mostly, you will want to be sure that everything is accounted for to prevent you from sinking deeper into debt caring for yourself in the aftermath. There is no reason that you should be forced to pay out of pocket for this situation that someone caused through their negligent actions.
What Is the Process for Receiving a Personal Injury Settlement Check?
As the victim of a personal injury accident, such as a car accident, you should know about the process of receiving your settlement check. With your experienced personal injury attorney, they will lead the way through negotiations. Since they’ve done this many times before, they know how to apply pressure to the insurer and the defense team, though the time it takes to get your check could be several weeks or months.
Here is a look at the process for obtaining settlement funds:
Signing the Release Form
When your personal injury attorney has reached an agreement for your settlement with the insurance company, the defense attorney representing the other party will prepare a release form. Most release forms cover the details stating that you are not permitted to seek additional compensation after signing the release form to protect them from future liability.
The defendant prepares these as part of the settlement documents, which also feature an order of settlement. If you agree to the settlement amount, then you must sign this form in the presence of a notary public to receive the funds you are owed.
The Insurance Company Processes the Check
Once the insurance company receives the documents and paperwork, they send you your check. However, insurance companies will send it to your attorney’s office first. It should arrive within a week to 10 business days of the completion of the required release forms.
Your Attorney Receives and Deposits Your Check
When the check from the insurance company arrives, your lawyer will deposit it into a trust account or escrow account until the funds are cleared through the bank. It is common for any cases of personal injury to ensure that the funds for the settlement check are paid in full.
Payment of Your Debts Is Made
After the funds clear for your personal injury settlement, any outstanding debts will need to be paid off before you get the settlement check. These might include any outstanding liens, unpaid medical bills for your medical treatment, reimbursement to health insurance companies, and child support payments, if applicable.
Additionally, all filing fees, legal costs, and other legal fees will need to be paid as per your agreement with your attorney. All attorney’s fees will be explained to you as part of the contingency fee arrangements prepared by your legal team at the beginning of your case.
Get Your Settlement Check
Once any remaining bills and fees have been satisfied, you will finally receive your legal settlement from your lawyer. After a personal injury, it is common to choose between a structured settlement or a lump sum payment. A structured settlement can allow you to receive payments through settlement checks over a period of time while a lump sum is paid all at once.
While an experienced lawyer can help explain the difference, they may also refer you to a financial advisor to help you determine a solution with your best interest in mind.
Potential Issues When Receiving a Settlement Check
While you may have medical bills that need to be paid, you should prepare for the potential of delays in the issuance of your legal settlement. Most personal injury victims who work with an attorney are less likely to have issues arise, but there may be some things that could slow down the process.
Disputes regarding the release agreement or amount of the settlement may cause a delay. There could also be legal issues if your case involves a minor. Your claims adjuster may not have forwarded the documents on time, or there may be issues with large insurers when one office branch handles a part of the case.
Clerical errors are common and sometimes evidence to support the amount of the settlement is misplaced, such as your medical records. These are needed to prove the amount of damages in your claim. Stay ahead of these issues by hiring a personal injury lawyer in Los Angeles with decades of experience in fighting large insurance agencies.
The Role of a Personal Injury Lawyer in Your Settlement
When someone else has caused you to suffer from painful and debilitating injuries that impact your life, you deserve to have your life made as whole again as possible. While you are not mandated by law to hire an attorney, it is for the best to have legal representation to stand up to insurers and their legal teams.
Your painful injuries and the stress of negotiating on your own mean that you will be ill-equipped to get the full amount you deserve. When you negotiate on your own, insurers get away with paying less. They know you’re desperate to get money and put this event behind you.
Once you sign a release to accept a settlement,you can’t seek any additional funds for the same claim. Your signature means they cannot be held liable after issuing the agreed-upon sum. Get what you deserve from settlement checks by hiring an attorney who won’t let the insurers walk all over you. Sit down for a free consultation and let them review your case, your damages, and remind you of your worth.
When both parties agree, your case is concluded, and your check will be issued. Some cases may be easier to resolve quickly while others may endure round after round of negotiations. Your case may even wind up in court, which is precisely why having an experienced attorney on your side from the start is the best course of action.
There is no reason why you should continue to suffer from your injuries by being offered a subpar settlement or being forced to sit through delay tactics imposed by insurers who don’t care about you. Contact Azizi Law Firm for all your legal needs from start to finish, and set up a free consultation where you can learn more about how we will stop at nothing to fight for you.
