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What to Consider Before Accepting a Settlement Offer

In an accident case, it is possible to obtain compensation through a jury award after a formal trial. It is also possible to obtain a financial award through a negotiated settlement. Take a look at the pros and cons of a settlement.

The Pros of a Settlement

One of the primary benefits of settling an accident case outside of court is that it generally takes less time to come to a resolution, which may keep legal and other costs to a minimum. This is because the facts of the case are determined in a confidential manner, which may make it easier for a liable party to admit it is at fault. Another primary benefit to accepting a settlement offer is that you have greater control over the outcome of the case.

The Cons of a Settlement

Perhaps the biggest downside to settling a case is that you may not get as much money as you could by going to trial. As a general rule, you give up a portion of an award in exchange for a timely resolution to the case. While you are not obligated to accept an offer, it can be months or years before a personal injury case is heard and resolved through litigation.

Another downside to a settlement is that the you are generally barred from talking about the specifics of your case. This may be detrimental to those who want to use their experience to prevent similar accidents from occurring in the future.

You Control Your Fate

While an accident lawyer in Las Vegas can help guide you throughout the personal injury process, only you can decide whether to take a settlement or not. Therefore, you are free to decide whether resolving a case out of court or through a trial is in your best interest both today and in the long run.