How Long Does It Take To Receive Funds After A Settlement Is Reached?
Once a settlement is reached, one cannot go back and reopen the claim. It is not uncommon in injury cases, for symptoms to reoccur after formal treatment ends, particularly when the injured person then attempts to resume more physical activities. It is therefore best to be cautious and not rush into a settlement too quickly. Once a settlement is reached with the insurance company, it will frequently take at least a couple of weeks before the settlement funds can be disbursed. The insurance company will require that the injured party sign a release before funds can be released. The insurance check will then be deposited into the attorney’s trust account. Upon clearance of funds, checks are then issued in accordance with the terms of a written settlement statement that the client has approved.
What Is Fault? How Will It Impact My Auto Injury Case?
In order to prosecute a personal injury claim, one has to prove that the accident was caused by the negligence of another driver and that the accident caused the injury. Maryland, D.C., and Virginia are among only a handful of jurisdictions in the entire country that still adhere to a legal principle known as contributory negligence. What that means is that a person who is claiming injury must not have acted in a manner that contributed to the accident that has caused the injury. If a person claiming injuries is determined to have engaged in negligent conduct that has even partially caused his injuries, that is generally enough to completely bar recovery. In jurisdictions which recognize the defense of contributory negligence — like Maryland, Virginia and Washington, DC — it is especially important to consult with an experienced personal injury attorney, who can investigate the claim, analyze the facts and provide legal guidance.
Do I Have To Take A Settlement Even If I Don’t Agree With The Amount Being Offered?
If you don’t agree with the insurance company’s settlement offer, you always have the option of declining the offer and filing suit. In such event, the responsible party’s insurance company will typically appoint counsel to defend against the claim. The procedures and times that are required will depend on a number of factors, including but not limited to, which court the case is filed in and the procedures and calendar of that specific court. Filing suit does not mean that the case will go all the way to trial. As cases proceed through a discovery process, claims are often resolved by way of mediation or settlement discussions, sometimes on more favorable terms than the last pre-litigation settlement offer. An experienced personal injury attorney can provide important guidance and advice on the merits of the case including the claim’s strengths and weaknesses, estimated litigation costs and procedures, and how long litigation would likely take, to help you decide whether to accept the settlement offer or proceed with litigation.
For more information on Receiving Funds After A Settlement Is Reached, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (301) 453-5656 today.