Getting a settlement is something that many people wish they could avoid but it’s not always possible. If you’ve been involved in an accident and you have injuries or property damage that is worth money, it may be time to get a settlement.
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During the course of a personal injury case, there are often many steps that need to be taken. First, you should have an attorney on your side to help you get through the process. During that time, you will want to have your lawyer explain the law, answer any questions you might have and ensure that everything is handled properly.
A good lawyer will know how to negotiate and will work hard to get you the best deal on your settlement. This can mean taking a less-than-generous offer and settling the case or going to trial to try to get you more money.
If you have a high demand on your settlement, it’s very likely that the insurance company will send you a low offer. It’s important to have a strong understanding of what you are entitled to so that you can respond to the offer with a counter-offer that’s backed by facts that will support a higher payout.
Your lawyer will have a great deal of experience with these negotiations and knows what ranges of settlement amounts other similar cases have settled for. They also will have done their own research to determine what the range of damages in your case are worth.
What’s more, he or she is also well aware of what the jury in your jurisdiction would be likely to award you. This knowledge can be a huge factor in your success at negotiating a fair settlement amount.
It’s also important to make sure you have copies of any relevant statutes or case law with you during the negotiation. This will help you to argue the case based on the laws that govern your case and can also help you prove your point in court.
You may also need to have a clear understanding of how the settlement will be distributed, such as medical bills and other deductions from the total. This will help you understand how much of the settlement is actually yours and how much will need to be paid out by the insurance company for things like liens and medical bills.
When you are able to accept a settlement, the insurance company will usually send it directly to your lawyer on record for your case. The check will be held in a trust or escrow account until it can be cleared by the banks, which typically takes three to ten days for a larger settlement.
The lawyer on record for your case is legally obligated to accept the settlement, and cannot take it back. However, you should be careful to only hire a lawyer who you feel comfortable with and has extensive experience in the area of law related to your case.