How Long Does It Take to Get A Personal Injury Settlement Check in South Florida
Gregg Hollander | August 3, 2022 | Personal Injury
A personal injury settlement is a monetary amount that an injured person receives from a party that injured them. This settlement is meant to prevent a lawsuit from going to trial. If you have been injured and filed a personal injury claim, you may be wondering, “How long after a settlement do I get paid?”
In this article, we answer this question and more.
How Long After Settlement Do I Get My Money?
A personal injury settlement amount is established after both parties have reviewed the evidence and arrived at a rough estimate of how much the case is worth. After both parties agree to an amount, they sign a settlement agreement, and the plaintiff/claimant signs documentation giving up the right to pursue a lawsuit in the future.
After both parties have reached a settlement, it usually takes around four to six weeks for the injured person to receive a settlement check.
How Long Does a Lawsuit Take to Settle?
Determining how long a lawsuit takes to settle is a different issue. Although it usually takes between four to six weeks to obtain a check after both parties agree to settle, it can take one year or more from the time of an accident to reach a settlement. However, every case is different, and this figure can vary greatly from case to case.
Reasons for Settlement Delays
A case must settle before a plaintiff receives a settlement check. However, settlement is sometimes delayed, thereby also delaying the receipt of a settlement check. Common reasons for settlement delays include:
The facts of the case: In cases where liability is difficult to determine, the defendant’s insurance company will typically offer a low settlement (or no settlement at all). This can prolong the time it takes for the parties to arrive at a settlement amount.
Pain and suffering: Although damages for pain and suffering are common in personal injury cases, they are more difficult to quantify than other types of damages. Therefore, cases involving pain and suffering damages can prolong settlement.
Medical improvement: When an injured party settles during treatment or while on medication, they forfeit the right to pursue a higher settlement amount if an unforeseen injury or complication arises down the road. It is for this reason that plaintiffs often wait to pursue settlement until after treatment for an injury has concluded.
If the settlement amount is higher than average: Finally, in cases involving particularly high amounts of damages, it’s common for the settlement process to take longer.
The Settlement Release Process
After a settlement release is signed, it is sent to the insurance company. The insurance company then processes it, closes the claim, and forwards the check to the plaintiff’s attorney. Upon receipt, the plaintiff’s personal injury attorney places the proceeds into an escrow account. Any claims against the settlement are then paid out of the proceeds.
Next, the plaintiff’s attorney’s fee is deducted from the injury settlement amount. After this, the plaintiff’s personal injury attorney sends the plaintiff the final check. As noted above, it generally takes between four to six weeks for a plaintiff to receive a settlement check once the release is signed and the insurance company agrees to pay.
Contact Our Personal Injury Law Firm in South Florida
If you’ve been injured in an accident, you need an experienced personal injury lawyer on your side. At Hollander Law Firm, we have recovered tens of millions of dollars in monetary awards for our clients – both through private settlement deals and jury verdicts at trial.
Hollander Law Firm Accident Injury Lawyers – Boca Raton Law Office
7000 W Palmetto Park Rd #500
Boca Raton, FL 33433
Hollander Law Firm Accident Injury Lawyers – Fort Lauderdale Law Office
1975 E Sunrise Blvd Suite 702
Fort Lauderdale, FL 33304
Hollander Law Firm Accident Injury Lawyers – West Palm Beach Law Office
319 Clematis St #203
West Palm Beach, FL 33401