How Do Settlements Get Paid Out?
If you were injured because of someone else’s negligence, the other party’s insurance company might make a settlement offer. You need an experienced personal injury attorney to help you learn how personal injury settlements pay out. Let our personal injury attorneys answer all your questions about the settlement process and work on your behalf for the compensation you deserve.
The period following a personal injury can be emotionally and financially draining for you and your family. You may be dealing with lost time at work, mounting medical bills, and getting your family through the experience. If your injury was due to the negligence of another party, you also have to deal with their insurance company.
You may receive a settlement offer quickly, especially if the other party was at fault due to a motor vehicle accident or another incident that caused your injury. It can be tempting to accept that initial offer so you can pay your bills and put the whole thing behind you. The insurance company is counting on that.
When you go into settlement negotiations, you need experienced attorneys from Nahon, Saharovich & Trotz by your side. We are well-versed in the tactics that insurance companies use, and we will not back down from getting you the compensation you deserve to help you cover future bills.
How Are Personal Injury Settlements Paid Out?
Most settlements are paid by check through your lawyer after they deduct fees. You have the option of whether to receive a lump sum or a structured settlement.
What Are Personal Injury Settlement Payments?
When someone harms you, you will deal with the other party and their insurance company. If all parties agree to a settlement, the case does not have to go to court.
Settlement negotiations are a vital part of the process in terms of getting you what you deserve. Once both sides agree on a number, you decide to take your payment in a lump sum or spread it out.
We have recovered over $2 billion for our clients and their loved ones. We will investigate all avenues of recovery and advise you every step of the way.
How Insurance Companies Approach Settlement Offers
Insurance companies are in business to make money. They do this by not paying out claims or paying out as little as possible. There are several tactics that an insurance company might try during your settlement negotiations, such as:
- Making a very low offer
- Delaying the case in the hopes you give up
- Trying to hold you at fault for your injuries to reduce the settlement amount
- Failing to negotiate in good faith and threatening to go to trial to make the process more daunting
- Bringing you in for an interview in the hopes of getting damaging information
Do not walk into a room with the other party and their insurance company without representation. With our personal injury lawyers on your side, you don’t have to answer the other side’s calls or respond to their letters. We will take care of that, fighting on your behalf every time they try to deny you the compensation you deserve.
How Our Attorneys Approach Settlement Offers
Our personal injury attorneys go into settlement negotiations as your champion. After we collect all the information about your case and do our investigation, we will pursue the maximum amount of compensation to which you are legally entitled.
We will advise you if we think there are other parties to take action against or if you are shortchanging yourself when it comes to your settlement offer. We have decades of combined experience in and out of the courtroom and detailed knowledge of personal injury law and negotiation tactics. We will do everything we can to maximize the value of your personal injury claim.
Financial Benefits of Settlements vs. Lawsuits
If the other party agrees to a settlement in your personal injury action, you do not have to deal with the time and effort of a lengthy court case. You also don’t have to worry about the outcome of the case. If you decide to take your case to court, your NST Law legal team will be by your side.
But if settlement is appropriate, we will fight for the highest settlement possible. We will make sure you fully understand the terms and conditions of your offer in a thorough and transparent manner. Therefore, you can feel confident in making an informed decision based on all applicable information.
You Choose How You Want to Receive Your Payment
Lump Sum Payments
One of the options we can negotiate on your behalf is receiving a lump sum payment to settle your claim. If necessary, this allows you to pay off your debts and invest the money however you choose.
Structured settlements give you payments over time. This can be helpful if you have ongoing medical or other needs and would prefer the financial stability of ongoing payments. For example, instead of accepting $1 million at once, you could ask for $50,000 a year for 20 years, in addition to interest.
If it works best for you, we will negotiate a lump sum payment so you can take care of your immediate needs, with the rest paid out as a structured settlement.
Our experienced attorneys manage our cases on a contingency basis. You don’t have to pay anything upfront, and not until you win the case.
How Long Will It Take to Get Your Settlement?
The timeline for the settlement process depends on factors such as determining fault, how hard the other insurance company wants to fight your claim, and whether they try to delay. We will always do everything in our power to handle your case in an efficient manner while still taking the time necessary to get you the compensation you deserve.
During this time, your personal injury attorneys will keep you apprised every step of the way. We will let you know if the insurance company is trying to blame you for your injuries and collect the evidence to prove them wrong. We will gladly answer any questions you have during the settlement process.
If You've Been Injured, Call the Experts at NST Law
When facing insurance companies, have lawyers by your side who help people every day.
Call the lawyers at Nahon, Saharovich & Trotz today at 1-800-529-4004 to set up a free consultation or fill out our online contact form. Once we go over the particulars of your personal injury case, we can discuss where you want to go in terms of settlement negotiations. We won’t back down to pressure from the other side and will not settle for less than you deserve from everyone at fault.