About Personal Injury Settlements

About Personal Injury Settlements

If you or someone close to you has been injured you very well may have pursued a lawsuit against the responsible party. That may either be a person or a company, but someone could be liable for what happened. Providing that someone is responsible and you have filed legal action, there is a good chance that your lawyer has been in contact with the responsible party’s insurance company. Since most cases end before going to trial, the insurance company will probably offer you a personal injury settlement. Personal injury settlements are when the guilty party’s insurance company offers you a sum of money to drop the case and to settle the claim. The amount is usually lower than your requested amount, but tends to be a fair amount.

There are a few things to remember about personal injury settlements before you enter into one. You should know that there is no minimum or maximum amount of money that you can get. Knowing this should allow you to plan accordingly for the amount of money you will probably receive. Your medical bills may be covered, but make sure you check the fine print of any agreement that you sign. When you are paid, the insurance company will most likely mail a check to your lawyer, so be sure to ask for a copy of it to have in your records. Lawyer fees are determined when you sign the initial contract with them, so that will determine the amount or percentage of the settlement that they will be entitled to for their work. If your child receives money from the settlement, the money will be put into an account until they are 18 to prevent parental misuse of the funds. Lastly, you may be required to sign a non disclosure agreement about the settlement, so be prepared for that possibility.

When you begin the process of trying to get settlement from someone who is responsible for personal injury, be sure to choose your attorney carefully. Having good legal representation is important to receive a good amount of money. Read all contracts and agreements before you sign them. Fine print exists everywhere, so it is crucial you know everything and understand prior to signing it. Be prepared for a personal injury settlement lower than what you were aiming for because insurance companies will want to save money wherever possible. By following these general tips and suggestions about personal injury settlements, you will be on your way to getting money for your injury in no time. 

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Christensen32Bianca 4 years ago

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