The majority of personal injury lawsuits end up being settled out of court. Settlements usually involve several steps before an agreement is reached.
Settling Out of Court
If you file a personal injury lawsuit, chances are that the suit will be settled out of court. About 95 percent of personal injury claims are settled out of court. There are some reasons for this, such as if a business doesn’t want the bad press or it’s assumed that the person filing the claim will win if the suit goes to court.
Filing a Lawsuit
When you file a personal injury claim, you should have a good idea of what type of compensation you’ll need. The amount that you require will usually be the starting point for negotiations. It’s important that you have a solid idea of how much you’ll need to cover your expenses. If you’ve sustained injuries that you haven’t fully recovered from or developed a disability, you’ll need to factor in existing as well as future expenses.
It can be very helpful to have injury attorneys representing you during negotiations. Attorneys know what the law dictates and what the expected outcome of a case would be if it went to court. This can help ensure that you’ll get an appropriate amount of compensation that will cover your medical bills, lost wages, or any other expenses related to your injury. Negotiations may go back and forth with multiple offers for settlement. If you’re not getting offers that are appropriate based on your injuries and the circumstances surrounding the injury, you can always let the matter go to court.
Reaching a Settlement
If you reach an agreement on compensation for an injury before your suit goes to court, you’ll need to notify the court that the matter has been resolved. At this point, the court will issue an order of settlement. Before you receive your compensation, you’ll normally have to sign a release. The release includes the details of the settlement, but it should also state that you agree to give up your rights to sue the person or company that was responsible for your injury. In most cases, you’ll receive the payout for your settlement within a few weeks of signing this document.