Your injury has likely left you with mounting medical bills. What’s more, you may have lost significant work time. All this has left you understandably anxious about getting a settlement in your persona injury claim.
Once your personal injury attorney has negotiated a settlement with the insurance company, you can expect to wait up to six weeks before receiving money. Why such a wait? Why can’t the insurance company cut the check right then and there and hand it over? Unfortunately, it isn’t as simple as that.
Before you get your share of the settlement, several steps must be completed. First, the insurance company will require you to sign a release. This document will state that you are forever giving up your right to sue the party responsible for your injury, as well as the insurance carrier. It will detail the amount of your settlement and stipulate that you will be paid once the release is signed and received back.
Your First Coast personal injury lawyer will then write checks from the award to settle outstanding debts. These may include the medical providers who treated you, the auto repair shop if your car was damaged, and your own insurance provider if it paid for any of your treatment. If any liens related to these expenses have been attached to your assets, these will be satisfied, as well.
Your lawyer will then receive his fees. This may include cost of a private investigator, out-of-pocket expenses, his contingent fee, and any other costs he took on. Following this final payout, you will receive what is left.
If you have experienced a personal injury due to the negligence of another, hire an attorney who will work to get you the settlement you deserve. Call First Coast personal injury lawyer John Fagan today for a free initial consultation.