A person becomes very confused after an accident. The legal processes, negotiation, and recovery all might be overwhelming. Due to this injury, they might have lost their daily income. It becomes hard for them to pay the piling medical bills and other expenses.
Only fair compensation can save them from this problem. Claiming a settlement is not as easy as it seems. There are several complex steps involved in it. The insurance company always tries to lower the victim’s claim. They don’t want to pay fair compensation. For that they use several tactics that the victim will not even be aware of.
A skilled personal injury lawyer can help you navigate through this tough scenario. They negotiate on your behalf with insurance companies to get you the compensation that you deserve. After a successful negotiation, it takes some time for them to deposit the money. So, how long does it take to get a settlement check after signing a release? The answer is never simple. It depends on the case. However, understanding the process that is involved in a personal injury settlement can help you get a clear idea.
What Is a Personal Injury Settlement?
A personal injury settlement can be defined as a legal agreement reached between the injured person and the responsible party. Most settlements are done to avoid going to the court. It is a financial payment made to compensate the injured party for their loss.
This settlement covers several key components.
- Medical expenses such as the cost of hospital stays, surgeries, medications, etc.
- Lost wages and potential future earnings that the victim lost due to the accident.
- It may also include payment for pain and suffering that was caused due to the accident.
- Apart from this, a settlement might cover property damage and other related losses.
After the negotiation is made, the final amount is paid. Lawyer fees, case expenses, etc., are deducted before the injured person receives the payment.
How Long Does It Take?
The duration of a personal injury settlement varies widely depending on several factors. Most cases take between 6 months and 18 months to resolve. Some simple cases get settled in 3 to 6 months. Settlement in complex cases can extend up to 2 to 3 years.
Common Timeline
Initial Investigation and Medical Treatment (0-12 Months)
Soon after the accident, your lawyer starts gathering evidence. The process often depends on how long you take to reach Maximum Medical Improvement (MMI). This period can last from a few months to over a year.
Negotiation (1-3 Months)
Your lawyer prepares a detailed demand package once your health improves. This includes medical bills, injury records, loss of income, etc. The insurance company reviews this information and makes an offer. It can take 30 to 60 days to respond. Most minor cases are settled at this stage.
Filing a lawsuit (6-18 months)
If the settlement negotiations fail, your lawyer files a lawsuit. It can add up to 2 years depending on the court’s schedule.
After the settlement offer is agreed upon, it takes 4 to 8 weeks to receive the settlement checks. This timeline depends on the insurer’s efficiency.
How to Speed Up the Process?
There are few things you can do to speed up the settlement process:
- Follow and attend all the doctor appointments.
- Keep all the records related to your treatment.
- Respond quickly to your lawyer’s requests.
- Be honest about your injuries while giving statements.
Common Delays in PI Settlement
Delays are very common in a personal injury settlement. Here are some reasons:
- Waiting for your medical treatment to end.
- Disputes over fault and damages.
- Slow response from insurance companies.
- Legal challenges like court scheduling.
Key Takeaways
- A personal injury settlement is a legal agreement reached between the injured person and the responsible party.
- Settlements include compensation for medical expenses, lost wages, and other related losses.
- Once agreement is reached, the settlement payments are done within a few weeks.
- The average time for a personal injury settlement is 6 to 18 months. It can vary for each case.
- The settlement amount is paid after deducting the lawyer fees, case expenses, and other medical bills.
