All personal injury and car accident cases are different and include varying circumstances that can affect how long it takes to get a settlement check. In some cases, you may see a settlement check arrive in a matter of weeks, but that is not always the case for car accident personal injury cases.
While you may be ready to receive your settlement check to cover your damages, you still need to complete several steps after a settlement is reached for your personal injury claim to be officially completed. After a settlement has been reached, the plaintiff must sign a settlement release form, which must then be processed.
From here, there are additional processes that must take place before you will receive a settlement check from a car accident case.
What Happens After You Sign a Settlement Release Form
A settlement release is a form that the plaintiff signs after a personal injury claim has been settled. The release will state that the defendant will no longer pursue legal recourse for the related accident. The plaintiff must sign and submit a settlement release before the defendant’s insurance provider will distribute a settlement check.
Overall, a settlement release is used to protect the negligent, or at-fault party. It is used to ensure that the liable party cannot face additional lawsuits for the same injury suffered by the plaintiff.
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Working with the Defendant’s Insurance Company
After the release is signed, it is processed and sent to the defendant’s insurance company. From here, the insurance company will close out your claim, which then allows them to send out a settlement check.
The check can potentially be sent to your lawyer, who will then place your funds into either a trust or an escrow account. If you have any potential medical liens or unpaid debts, your lawyer will have to put some of your settlement money towards those debts.
Final Deductions to Your Settlement Check
Once liens or past debts are taken out of your settlement, your lawyer will deduct their fees from the check. This can potentially be an agreed-upon hourly fee with added costs, or a percentage of your settlement package.
Following the payment of your settlement’s deductions and fees, your lawyer will send you a check with the remainder of your settlement money.
Potential Factors Leading to Settlement Check Delays
In some cases, personal injury victims may experience delays when seeking their settlement check. Various factors, such as additional preparation or release form specifications can lead to minor delays in receiving a settlement check.
Additionally, the insurance company could simply require additional time to process your settlement. Depending on the insurance company, they may be backed up with claims to process or they may have an internal process that requires more work than usual.
Any liens or debts against you may also contribute to delays in settlement checks being delivered. When your lawyer gives a notice of liens against you, they must take time to investigate and verify the lien before deducting these funds from your settlement. Your lawyer may also negotiate with lienholders to potentially lower the amount of money you owe.
If your lawyer is experiencing a delay in receiving the funds from the insurance company, you too will have to wait for your check. In some cases, your check could potentially get lost in the mail. Or, the insurance company’s processing capabilities could be the root cause of the delay.
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Call for a Free Case Evaluation with The Kryder Law Group, LLC
At Kryder Law Group, LLC, our team of personal injury lawyers can potentially help you receive compensation for your damages during a car accident. Following a car accident, you may be entitled to compensation that can cover damages such as medical bills, lost wages, property damages, and more.
To learn more about your car accident case, contact The Kryder Law Group to determine if you have a legal case. When considering the compensation to which you may be entitled, your personal injury lawyer can also walk you through key factors that led to compensation. These factors may include fault, insurance coverages from both parties, how the car accident happened, and more.
For a free case evaluation with The Kryder Law Group, LLC, call our law firm today at (312) 223-1700.