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If you've been injured by a careless driver, you know you want to be paid but you might not be worried about your payment choices. Sooner or later, though, your personal injury lawyer will speak with you about some of the compensation methods listed below and a big decision must be made. Read on to learn more about your compensation choices after an accident.
A Settlement Is Quick and Satisfying
When it comes to accident compensation, settlements are a great way of getting paid. You can be paid for your accident losses in as few as two or three weeks after speaking to your lawyer in some cases. That is because it's not necessary to file a lawsuit if you settle your case. As soon as the other side agrees with what your lawyer is demanding, you are paid almost immediately. Accidents that settle quickly share some similarities:
A Court Judgment May Be Needed
Not all cases can be settled. Your personal injury lawyer knows all about what to expect with accident cases and knows how much you are owed. If you are unable to come to an agreement with the other side, you may have no choice but to file a lawsuit and go to court. Once the jury rules in your favor, though, the other side has a very limited amount of time before they must pay you what you are owed.
Paying Over Time
Many accident victims naturally want to be paid as soon as possible. Many have mounting financial problems because of missing work and must pay accident expenses long overdue. However, you might end up being paid a bit more if you are willing to accept payments over time. Known as structured settlements, this way of getting paid is usually part of a settlement offer. For the insurer, structured payments are easier since the financial impact is spread out over several years. That means you may get more money using this method. Every aspect of the structured settlement is negotiable, from the amount of each payment to the frequency. You may also be interested in a hybrid structured deal with a lump sum upfront followed by regular payments for the balance.
To learn more about the above options, speak to a personal injury lawyer from a firm like Grall Law Group.
Share14 June 2021
