Car Accident Lawyer
A car accident claim can take a few months to settle. This is likely due to a disagreement of a fair settlement between you and the insurance company. Fortunately, most car accident claims are settled without a court trial. You probably have many questions about getting your money and settling your bills. Here are some general rules about what happens when your lawyer and the insurance company come to an agreement.
Settlements Are Lump Sum Payments
If you’ve suffered significant injuries in a car accident, it can actually be to your benefit to wait to settle. You only get one chance to get money from the insurance company. Once the settlement is reached with both parties accepting the terms, the claim will be closed. If you discover more problems down the road, you won’t be able to go back and ask for more money. A personal injury lawyer can help you avoid this issue by going through your medical records thoroughly before reaching a settlement.
How Is the Check Processed?
A settlement check usually comes to the attorney who is handling your case. It can take four to six weeks for the insurance company to send the check. The check will be made out to you and the attorney. Your attorney will deposit the check into their firm’s trust or escrow account. This is a special account is separate from the firm’s other money. The lawyer might have to use some of the money to pay medical providers or your health insurance company. In some states, if you have unpaid child support, your lawyer may be required to send settlement money to the child support agency. Any liens on the settlement need to be handled before the funds are distributed.
When Will You Get Your Funds?
Once your attorney deals with the liens, the legal fees and costs will be taken out of the settlement. This could include expert witness fees, court fees and medical evidence fees. The attorney’s fees will also come out of the settlement before you get your money. You should receive an itemized billing when your lawyer sends the remainder of the settlement money detailing the deductions. Most lawyers will settle your case within a couple of weeks of receiving the settlement, but you should discuss the process with your lawyer.
Settling an accident claim is a complex process. Legal representation is recommended to make sure that you have an advocate on your side who understands the law. Contact a car accident lawyer, like from David & Philpot, PL.