After going through the arduous process of negotiating with your insurance company and agreeing on a fair settlement, you might be wondering how long does it take to get a personal injury settlement check. You can expect your settlement check to come four to six weeks after signing the settlement release forms. However, different factors can affect the timeframe.
Here are some factors that might affect the general timeframe of getting your personal injury settlement check.
How long will it take to get your personal injury settlement check?
The settlement amount and the time it takes to get the funds depends on your case’s complexity and whether you reach a settlement in or out of court. If your settlement offer involves large sums of cash, it might take more time to receive the check.
Contacting professional injury lawyers like Spektor Law can reduce the time you need to receive your settlement proceeds. Professional personal injury lawyers can help you file your claim and get the settlement amount you deserve. However, the settlement process can take several weeks, months, or years depending on factors like:
Legal and factual matters of a case
A personal injury claim starts with attorneys determining the liable party in the case. If the liability is hard to determine in your personal injury case, the defendant’s insurance might offer a low compensation. That prolongs the process of reaching a settlement offer.
In some cases, a doctor’s testimony might be needed. In such cases, a doctor might be asked to estimate the defendant’s carelessness in causing the injury. That helps to estimate a reasonable settlement amount.
Pain and suffering
Pain and suffering is a phrase used to refer to physical or emotional distress that a victim might have suffered in an accident. However, qualifying suffering might be challenging as it exists in many forms and it’s often subject to interpretation. For instance, it’s hard to determine depression, anxiety, or PTSD.
It’s easier to quantify pain as it’s straightforward and includes visible signs like broken bones or body injuries. Here are two methods that insurance companies in New York use to determine the damages done by pain and suffering:
Pain and suffering multiplier
This common method totals all the special damages and multiplies the figure by any number between one and five, depending on how severe your accident was. These special damages include lost wages, medical bills, and property damage.
Three is the most commonly used number to get a fair amount. However, the number chosen on the scale represents what your suffering damages look like.
Per Diem
This method involves setting a per-day rate for every day you’ll live with the pain and suffering. This technique isn’t commonly used as you’ll need to justify that the set daily rate is reasonable for your personal injury damages. Additionally, it doesn’t work well if you’ve suffered permanent or long-term damages.
Medical Improvement
It’s common to start processing a personal injury claim after reaching the maximum medical improvement. Settling your personal injury claim while undergoing medication forfeits your right to take further legal action against the defendant’s insurance company if you incur more unforeseen medical expenses.
Even when you desperately need the settlement money, there’s no need to rush the process as that’s where most insurance companies will get you. If you don’t have a lawyer like Spektor Law, the insurance company might try and close your claim quickly for the least amount possible.
Looking at property damage and medical bills after an accident can be challenging, but getting the compensation you deserve will make the bills manageable in the long run. Fortunately, your health insurance company will help you sort out any unpaid bills after an accident, no matter how long it takes.
The settlement amount is high
The defendant’s insurance company won’t pay huge sums of cash without meticulously investigating the case. For instance, if the settlement for a car accident case has reached six figures, it’s normal for the review process to take a long. However, you can increase your chances of getting the settlement money faster by loyally following your lawyer’s advice.
Will my personal injury claim go to court?
Whether a personal injury case goes to court is a huge factor in determining whether you’ll receive the settlement quickly after a car accident. When you settle .your claim with the insurance company out of court, you’ll receive your settlement check faster than going to trial.
The sooner you get your settlement check, the better for you. That’s why settling personal injury cases out of court is best for accident victims. The compensation you get in this personal injury settlement process can cover medical bills, property damage, and more.
Most car accident victims who suffer injuries don’t need to go to court for compensation. The defendant’s insurance company will offer them the compensation they need unless serious injuries or wrongful death issues occur.
If you suffer serious injuries or there are wrongful death cases, the victims will need to go to court to get the huge compensation that your lawyer will demand. You’ll also have to go to court if the insurance company isn’t cooperative or willing to negotiate in good faith.
In such a situation, the victims will need to hire a personal injury attorney to receive compensation. However, you don’t need to worry about the legal fees when your case goes to court, as the law offices of Spektor Law offer affordable services. Contact us today for a free consultation.
Do I have a strong personal injury case?
Evidence is the key to a strong personal injury case. If you can help your personal injury attorney gather enough evidence proving the defendant’s liability in the accident, you’ll present a stronger argument or case.
The more evidence you present, the better your chances of receiving the compensation you deserve. Having enough evidence can also help to resolve the case much more quickly. That’s because a strong case with enough evidence will make the insurance company want to settle faster.
If your evidence is weak, the insurance company lawyers will attempt to drag out the case. That’s why gathering medical records and any relevant evidence is crucial to ensure you’ll receive fair compensation on time.
What’s the value of your injury claim?
Injury victims need to seek medical attention after an accident. Unfortunately, many accident victims in New York fail to attend medical appointments regularly due to fear of the expenses. At Spektor Law, we help injured victims recover these medical expenses and receive the treatment they deserve.
Your claim’s value depends on the seriousness of your damages. Serious injuries will be worth more as they’re more expensive to treat or manage in the long run. Small claims are relatively quick to settle the extent of your injuries isn’t that serious.
Most Insurance companies in New York will hardly pay out huge claims without a fight. These companies are always trying to minimize their liability, which is why they prefer to pay smaller claims faster to avoid losing cash on legal fees.
How long does the insurance company have to send the settlement check in New York?
When the defendant’s insurance company accepts the liability, you can expect to get the settlement check three weeks after you file the settlement papers. That means the defendant has acknowledged their responsibility in the accident, and there’s nothing else to argue. However, the defendant can still file an appeal in a court case.
If the defendant in your case decides to file an appeal, you might need to wait for a year or two before receiving the settlement funds if you’re successful for the second time. In any situation, the lawyers from both sides must inform the court when the settlement agreement is reached.
Upon receiving the notice that the parties have reached the settlement agreement, the court issues an order of settlement. However, the plaintiff and the defendant must complete the paperwork within 60 days.
How personal injury settlements are made
Here’s how personal injury settlements are made after the accident victims have reached a fair settlement offer:
Signing a settlement release & other documents
The settlement release form is the most important document and impacts getting your settlement check. The defense attorney prepares the document outlining the settlement’s terms and conditions.
This document can be as short as a single paragraph or over ten pages long. Remember that some defense attorneys make the settlement release form more complex and longer than it needs to be to delay the settlement process. However, your injury lawyer from the Spektor Law firm will carefully review the documents and determine whether any part is objectionable.
If the legal counsel from both sides can’t agree on the terms of the settlement release, a judge will be involved. However, the personal injury law experts at Spektor Law do everything to avoid that because it slows the settlement process.
After your attorney approves the terms of the settlement release form, you’ll need to sign it in the presence of a notary public. We recommend carefully going through the terms and conditions with your attorney before signing, as your signature indicates acceptance.
What will happen after signing a settlement release form?
After signing the settlement release forms, the defendant’s insurance company processes the payments and writes you a check. The insurance company will make the check payable to the victims and their lawyers before sending it to your law firm. That happens typically within three weeks, but delays from clerical errors can delay the process.
The exact number of weeks it takes to receive your settlement check also depends on whether any party has put a lien on the payment because of unpaid debts. Your law firm will receive your settlement check and put it in a trust known as an escrow account.
an injury law requires the settlement check to stay in the escrow account temporarily until it clears. After deducting the attorney’s fees, your lawyer will disburse your portion of the money after the check matures. Your attorney will also pay any outstanding lien filed against you before giving you access to the cash.
Typical liens that might be filed in a personal injury case in New York include:
- Unpaid medical bills
- Outstanding child support obligations
- Reimbursement to your health insurance company or Medicaid
Failure to pay any lien imposed by government agencies, insurance companies, or a medical provider can lead to serious penalties. Your attorney might also cut the attorney’s fee from the settlement check to pay for:
- Deposition and court reporting costs
- Expert fees for testifying on your behalf
- Paying for accident reconstruction specialist fees
- Expenses related to gathering evidence like medical records to support your claim
Want to learn more about injury law or help to file an insurance claim? Spektor Law is the solution!
settlements can be complicated, and attorneys understand that it’s not something that happens overnight. Our team of attorneys has decades of experience dealing with personal injury cases, which helps maximize your settlement in the shortest time possible. Call 888-797-7755 for a free consultation in Queens, NY!
