How Are Personal Injury Settlements Paid Out?

You probably thought that was the end of your troubles when concluding a contract with an insurance company. However, the next step is to wait for the settlement to be paid in order to settle your debts incurred after the personal injury. How Are Personal Injury Settlements Paid Out?
To know what awaits you in the coming days, and how much you should get your settlement, read the following lines.

How long will it take you to get a settlement check?

This answer depends on your case. Along with factors such as how long it takes the accountant to save the check. You also need to know that insurance companies are limited to deadlines imposed by state law. It can take up to two weeks to receive your check in the mail after you send it. If you do not receive your application within that period. The insurance company may be at fault for delaying your payment in bad faith.

The insurance company prints a check

How does it go? The signed statement goes to the insurer of the culprit. He is the one who will write the settlement check. The check will be printed for you and your lawyer. He will then be sent to a law firm.

Your lawyer takes the check

Once your settlement money is with your lawyer, you need to take a few more steps to get the money to you. One of the reasons why the check was paid to your attorney is that he can deposit it into his legal trust account.

After that you get your money

Once the legal and private costs procedure is complete, your attorney completes the case. He will provide a settlement package that includes a copy of your issue and all costs paid. You will then review all the documents and sign the final documentation. Once you take over the money and all the necessary documentation, what will bring you a sense of relaxation is peace of mind. Because the process is finally over.

How to speed up the process?

Of course, several steps can be taken to speed up the payout process. Compile a form with your lawyer when you get an idea of what the settlement will be. Provide all the necessary documents as soon as possible so that the insurance company has what they need.

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If you find these information above useful, but you have more questions regarding the subject, or you just need legal help straight forward, give us a call on 314-352-6800 and get free consultations today!