You can file a personal injury lawsuit if you are injured in an accident. It is mainly applicable in cases where any third party’s fault or negligence led to your injury. So, you can file a lawsuit claiming compensation for your losses and potential income. There will be long negotiation for the settlement case, and after the settlement is done, there is a stipulated amount of time, which requires time to receive the money.
So, in this article, we will study how much time it will take to receive settlement money in personal injury cases. If you are in any such lawsuit, you should consult an attorney near you so that you are aware of all the legal details.
How Long Will It Take to Recieve the Settlement in a Personal Injury Case?
Personal injury cases take time as per the party’s will to settle on time. The opposite party or the defendant should also agree to a settlement; therefore, this takes time. Once all the procedure is done and both parties agree to a settlement, there is still some time to receive the money for the settlement. Some of the following methods must be completed before moving ahead for the case.
- Order of Settlement: In this step, if you have settled outside the court, you must take an order from the court and inform them about your settlement. Once the court issues the settlement order, both parties will sign the agreement and release the liability. Upon this agreement, the court will dismiss the case. If the documentation and understanding are not done, the patient will remain open, and the litigation will continue.
- Signing the Settlement Agreement: When the court orders for settlement, both parties must sign a settlement agreement to acknowledge their binding contract. The deal will also state that you will not take any additional compensation.
- Opposing party and Insurance Company Review: Once both parties have signed the agreement, the opposing party counsel and the insurance company will review all the clauses and, if there are any problems, will solve them simultaneously.
- Cheque Issuance: When all the legal works are completed, the insurance company will issue the check on the agreed amount.
- Cheque Deposit: Your attorney will deposit the cheque in your account, and the settlement money will be cleared.
- Legal Fees: When all the money is compensated, the attorney will calculate and pay their firm for your legal fees.