You’re almost at the end of your personal injury claim process, and you’re ready for the big payout. How long does it take? Depending on the circumstances of your case, you may already have been waiting weeks or months while your attorney talked to witnesses, gathered evidence, and negotiated with the insurance company. However, plan on waiting a little bit longer before you get your check.
Still considering your options after a personal injury? Find out how the team at Weaver Tidmore can help you fight for what you deserve. Call us at 205-980-6065 to schedule a consultation now.
First, know the average across all personal injury cases: most settlements finalize and are paid out within six weeks. However, it’s good to know the process in case there are any hang ups or unexpected delays.
The insurance company and your attorney must first come to an agreeable settlement. Once this is done, the paperwork is drafted. You’ll typically need to sign a waiver of liability and possibly other forms that protect the insurance company. Your attorney will need some time to review this paperwork and make sure it protects you. If the terms are fine, you’ll sign and be done. If not, further negotiations may take place.
From there, the insurance company will handle your paperwork and send a check to you and your attorney. Your attorney will typically keep it in an escrow account to keep it separate from other funds. From there, all liens must be paid and your attorney’s expenses must be paid. After that, your final settlement arrives.
Related Expenses Must Be Covered
You may be wondering about liens and other expenses that have to be paid from your settlement. Medical insurance companies and healthcare providers have the right to get paid for their services before you receive the rest of the settlement. If your health insurance paid for your expenses upfront, for example, they will want to be reimbursed from your settlement. If you received care and the doctor was waiting to bill you until your settlement arrived, they will need to be paid. Additionally, if any repair or vehicle expenses were paid for by your insurance company, they will be compensated from your final settlement check.
Attorney’s Fees and Expenses Are Paid Next
After that amount is paid, your attorney’s fees are next. Since most attorneys work on a contingency basis, they do not get paid unless they get you a settlement. Their fee is a flat percentage of whatever settlement they secure for you.
There may be additional legal expenses that must be paid for out of your settlement. This often includes investigative costs, deposition costs, fees for getting documents, expert witness fees, and court reporting fees.
Finally, You Get Paid
Once everything else has been taken out of your initial settlement check, it’s time for you to get your part. Your attorney will provide a final record of everything taken out of your settlement and provide it to you, along with your settlement payment. Make sure to check your paperwork and ensure that everything is accurate before signing and accepting it.
From start to finish, this process takes an average of six weeks. However, there are circumstances that can draw it out and leave you waiting for a little longer. Processing delays or clerical errors can leave accident victims waiting more than two months for their compensation.
If your settlement is taking far longer than expected, you can talk to your attorney about what is happening. Remember, they are there to make sure you get paid what you deserve. If the insurance company is dragging their feet, your attorney can push for expedited payment or explore other options to help you get your compensation.
As you can see, it’s a fairly long process. From initiating a personal injury claim to getting your settlement in your bank account, you could be waiting for months before you receive compensation. That’s why it’s so important to choose an experienced personal injury attorney who has navigated the complexities of this process many times before.
Choose Weaver Tidmore for Your Personal Injury Claim
The team at Weaver Tidmore is committed to helping every accident victim fight for the compensation they’re due. Let’s talk about your claim and what your next step is. Reach out or give us a call at 205-980-6065 to learn more.