Winning a personal injury lawsuit is a huge achievement, but there’s still work to do.
Over 35 million Americans require emergency medical treatment due to an unintentional injury every single year. Nearly 60 million see a physician for injuries. Many of these end up becoming personal injury lawsuits.
If you’re the victim of a personal injury, winning a lawsuit is no walk in the park. Even after you’ve won, there are a few extra steps before you walk away with your settlement.
In this post, we’re going to walk you through this process, so you can put your personal injury behind you once and for all. Keep reading and you’ll be able to go step-by-step through the personal injury lawsuit process and get what you deserve.
Decide How You Want Your Settlement
There are typically two ways that you’ll get your settlement. One is to get everything paid out at once in a lump sum, while the other is what is known as a “structured settlement”.
Structured settlements allow you to receive your payments monthly, quarterly, or annually. This allows you to better budget for your needs and lifestyle.
Both payments are tax-free and if you choose a lump sum, the money is typically available within two months. Whichever you choose, you’ll have to go through the following steps in order to get it.
Sign the Release Form
Once all parties involved have agreed to an injury settlement amount, you have to get into the paperwork with your lawyer. The most important thing that you’ll have to sign is the release form stating that aren’t going to seek any further compensation from the at-fault party and their insurer.
One of the things that can delay people getting their settlements is a disagreement on the terms of the release.
Your Attorney Gets the Check
With the release signed, the other party’s insurance company will issue a check, which will go straight to your attorney’s office, nyc nursing home abuse attorney this happens so that they can deposit it into their legal trust account.
There are things you’ll likely need to pay for with this money, not the least of which is your lawyer’s contingency fee.
Negotiating Medical Bills
The other thing you and your lawyer will have to settle is your final medical bills. These liens can be negotiated by your lawyer so that you pay the lowest possible amount for your treatments.
Liens usually come from healthcare providers, government health insurance programs, and group health insurance carriers. Once your lawyer comes to agreements with all of these, you’ll pay those liens out of your settlement. Due to the negotiations, this can add a significant amount of time to the personal injury lawsuit timeline.
Getting Paid
After all the legal fees and liens are finalized, you can finally get your money. Your attorney will craft a settlement packet containing all the documentation and receipts for the expenses. Sign the paperwork and you’ll have your check for a lump sum or the first in a series of structured payments.
Putting Your Personal Injury Lawsuit Behind You
There’s no denying that a personal injury lawsuit takes a lot of time from start to finish. It’s understandable when there’s a significant amount of money involved, but that doesn’t make it any less excruciating. Follow these steps after you win your case and you’ll be able to put your personal injury in the rearview mirror.
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