The Process of Receiving a Settlement Check in West Palm Beach, FL

After a personal injury or accident, you probably want to receive your settlement check as soon as possible. However, the process of receiving a settlement check in West Palm Beach could take several weeks or months, depending on how long your case takes to resolve.

Before you receive your check, your case will need to settle (usually after back-and-forth negotiations). If you sustained severe injuries or the other party denies liability for damages, that process could take time. Once your case settles, a few more steps must take place as well before your check is in your hands. This blog post will cover the details.

What Is a Final Settlement for a Personal Injury Case?

Personal injury claims can arise from various situations, including motor vehicle accidents, defective products, slip and fall accidents, workplace accidents, and medical malpractice. Many injury claims settle without filing a lawsuit. However, even if you file a personal injury lawsuit, you could settle the case before it goes to trial.

A final settlement is a payment for damages. The settlement agreement and payment resolve the dispute between the parties and release all parties from any further liability for damages arising from the event or dispute. 

The justice system cannot undo the injuries caused by a negligent or intentional act. Therefore, tort laws provide a legal cause of action to recover financial compensation for damages. 

Most injured victims can recover compensation for their non-economic and economic damages. The types of damages included in a final settlement include:

  • Reimbursement for costs related to physical injuries, including medical bills, physical therapy, nursing care, personal care, and medications
  • The loss of salaries, benefits, wages, and other forms of income 
  • Compensation for the pain and suffering caused by mental and emotional distress and physical injuries
  • Permanent disabilities, impairments, disfigurement, and scarring
  • Future lost wages, medical expenses, and diminished earning capacity because of permanent impairments
  • The loss of enjoyment of life and a decrease in quality of life
  • Out-of-pocket expenses and costs 

The final settlement check is the total compensation for damages sustained by the injured party. In exchange for the check, the injured party release all parties from all causes of action. 

In other words, you cannot demand more money later when you sign a settlement agreement and accept a settlement check. Therefore, if you are unsure about your rights, the damages you can receive, or the value of your damages, it is crucial that you consult a West Palm Beach personal injury lawyer before accepting a settlement offer.

How Long Does It Take to Reach a Settlement?

The timeline for settling a personal injury claim depends on several factors. The severity of your injuries is one of the most significant factors. 

You do not want to settle your claim before you complete medical treatment. Until your doctor releases you from care, you cannot know whether you sustained permanent impairments and the total of your damages. 

Once you reach maximum medical improvement, your personal injury attorney prepares a settlement demand letter for the insurance company. That begins the settlement negotiations. If the insurance company accepts liability and agrees to the amount, you could settle your claim within a few weeks. However, settlement negotiations could take much longer when:

  • The other party does not admit liability for your injuries
  • The insurance company refuses to negotiate in good faith
  • You sustained catastrophic injuries and permanent disabilities 
  • Several parties share liability for your damages
  • The insurance company has internal delays in responding to a settlement offer

Your time to file a personal injury lawsuit is limited. If you do not settle the claim, you must file a lawsuit before the deadline or lose your right to pursue a claim. Your lawyer monitors the deadline to file a lawsuit if the other party refuses to agree to a fair settlement amount.

What Happens After I Sign a Settlement Agreement?

Florida laws require insurance companies to pay settlement claims within 20 days after reaching a settlement. Your attorney deposits the settlement check in a trust account until it clears. Once the check clears, your lawyer can disburse the funds. 

Before you receive any funds, your attorney must pay any outstanding medical bills or medical liens. Your lawyer also deducts the attorneys’ fees based on your contingency fee agreement. They also deduct the costs of the case from the settlement proceeds. 

You then receive a check for the net settlement proceeds. However, there could be a delay in receiving the settlement check while your lawyer negotiates the settlement of medical liens. 

Attorneys negotiate with medical providers to decrease the amount of the liens. That way, you receive as much money as possible for your personal injury settlement. 

Contact Our Personal Injury Law Firm in South Florida

If you’ve been injured in an accident, contact the Boca Raton personal injury lawyers at Hollander Law Firm Accident Injury Lawyers at the location nearest you for a free consultation:

Hollander Law Firm Accident Injury Lawyers – Boca Raton Law Office
7000 W Palmetto Park Rd #500
Boca Raton, FL 33433
(561) 347-7770

Hollander Law Firm Accident Injury Lawyers – Fort Lauderdale Law Office
200 S.E. 6th Street #203
Fort Lauderdale, FL 33301
(954) 287-0566

Hollander Law Firm Accident Injury Lawyers – West Palm Beach Law Office
319 Clematis St #203
West Palm Beach, FL 33401
(561) 556-7873