The days after a car accident can be confusing – you may wonder how you can prove fault and liability, if you are eligible for damages or compensation, and what to do next. You may want to understand how to best negotiate with the insurance company and how long it will take to receive your settlement check. This article will discuss how you receive your settlement check – and how long you may have to wait for your payout.
If You Agree to a Settlement
Assuming you and your insurance provider can agree to a settlement that you both agree to relatively quickly, you can expect to receive your settlement check in approximately one month. However, often negotiations drag on a bit longer, and you might have to wait for 6 to 8 weeks. Sometimes, the amount of the settlement involved in your individual case will also influence the amount of time you wait to receive your settlement check. You’ll want to speak with a personal injury attorney about your expectations, as no one wants to sit around waiting for a check longer than they need to.
If You Went To Court and Won a Verdict
Four things generally happen after a court verdict is reached following a car accident.
- Release Form: The first step in receiving a settlement check is signing a release form that officially settles your claim. This release indicates that you waive your rights to file a lawsuit against the other driver in your accident.
- Settlement Check: Once the release form is signed, a check will be sent to your attorney. When your attorney receives this check, you should verify that it clearly stipulates what the compensation covers. If the check does not make this distinction, ask your insurance adjuster to add it.
- Attorney Fees: The amount on your check represents the balance after deducting all legal and attorney fees. Many car accident attorneys charge a contingency fee, meaning they won’t be compensated unless their client receives payment for injuries or vehicle damages. Contingency fees can range between 25% and 40%. Be sure to discuss with your attorney what their percentage is.
- Remaining Balance: After fees have been deducted, your attorney will send you the remaining balance of your compensation. Contact your attorney immediately if you believe there is an error on your check – don’t cash it until you work it out.Individuals should also ensure that their insurance company is not trying to fraudulently blame them for injuries or take advantage of them in any way. Insurers may try to manipulate the situation – they may way for an extended period to respond to you or offer a lower amount than you truly deserve. An experienced personal injury attorney can help you navigate the negotiations with your insurance company and ensure that there are no delays in the delivery of your settlement check.
Work with an Experienced Car Accident Attorney
One of the best things that a car accident victim can to do protect their rights is to call an experienced car accident lawyer immediately. An attorney can help you to determine if you have a case, handle negotiations with your insurance company, decide if you need to file a lawsuit and walk you through the entire process. This may be your first car accident lawsuit, but this is what your attorney does every day. Call Probinsky & Cole today to learn more about how we can help you receive the compensation you deserve.
