What is the Settlement Process?

Many people believe that, when they reach a settlement, they will receive their check the next day. Once the injured party agrees to settle the case, there is a great deal of work to be done. Settlement paperwork must be processed and release documents need to be reviewed. Once the documents are reviewed, everything must be signed and additional paperwork is done to process the check and get it in the client’s name. Finally, any outstanding medical bills, medical liens, or other liens associated with the claim must be paid. Therefore, it is important to work with an experienced VA beach personal injury attorney who can help guide you through the settlement process.

How To Determine the Amount of Compensation in Virginia Beach?

There are several factors that are considered when determining the amount of the settlement including: The nature of the injuries Medical expenses Lost wages Lost future income Property damages Pain and suffering An experienced personal injury lawyer can gather all the information and forward it to the insurance company of the person who is at fault for the accident. An insurance adjuster then reviews the information and gives an offer. If the offer is low, the lawyer’s responsibility is to negotiate a higher offer for their client. If the parties cannot reach a settlement, a judge or jury determines the compensation package after reviewing the medical expenses, time lost from work, the nature of the injuries, and the present and future impact of the injuries on the injured party.

What to Take Into Account During Process Settlement?

When a person is injured in a car accident in Virginia Beach, in addition to the medical bills, treatment, and nature of the injuries, another issue is whether the person wants to risk a trial. They might get more money at a trial or in front of a judge, but they could get less money than they are getting in the settlement. A person should consider the risk. Another issue to take into account is the value of time over money. When one files a lawsuit in Virginia, it could take from one to two years to get in front of a jury. An experienced personal injury lawyer may encourage them to take the settlement today, especially if they need the money as soon as possible.

How Can An Attorney Help You Throughout the Virginia Beach Car Accident Settlement Process?

When someone is injured, an experienced personal injury lawyer in Virginia Beach can help them determine the value of their case and guide them through the Virginia Beach car accident settlement process. An experienced Virginia Beach personal injury lawyer can help someone determine the value of the case by looking at medical bills, the length of time the injured person was treated, their lost wages, and how their life changed following the injury. They can then help you make the best decision for your case. Call Cooper Hurley Injury Lawyers today for a free consultation to discuss your case.

What Is the Car Accident Settlement Process in Virginia?

A fair settlement is the goal of any Virginia car accident claim. When your case settles, you and the other party agree on a specific amount of money to compensate you for your losses without going to court. Getting to that point isn't always easy, but knowing what to expect can make the car accident settlement process smoother.

Cooper Hurley Injury Lawyers can guide you through each step of the process and improve your odds of achieving a favorable result. Contact us online or call (757) 333-3333 to address your car accident questions in a free, no-obligation consultation.

The car accident settlement timeline begins with an investigation, followed by negotiations and a written settlement agreement.
After signing a settlement agreement, receiving your compensation can take a few weeks.
The time it takes to settle a car accident case depends on case-specific factors, such as the complexity of your injuries and insurance company delays.
Settling some cases can take a while, but the wait often pays off.

What Is the Car Accident Settlement Timeline?

Much of the time leading up to a settlement is spent investigating the accident and gathering evidence. This allows our attorneys to accurately assess your damages and demonstrate the at-fault party’s liability.

We’ll then file a demand letter with the other party’s insurance company outlining our findings from the investigation. This launches a series of negotiations between our attorneys and the insurance company in which we’ll present our evidence and arguments. If all goes well, the negotiation process will end with a settlement agreement.

Video Transcript

Bill O’Mara:

There are many, many factors that go into the decision about whether to settle your case or go to trial and see what a judge or a jury may award you. At the end of the day, it is the person who was injured, it was, it’s my client’s decision about whether to go to court or whether to settle. I’ll always make a recommendation one way or another, but it’s absolutely that client’s right to do what they feel is best for them. They can accept my advice or reject my advice, and the decision to go to court or go to settle is ultimately their decision. There are a lot of factors that go into it. Some of them being, how strong was the settlement offer, what is the downside at trial? What does our worst day in court look like compared to what our best day in court looks like?

There’s also a, a cost component to this where it’s– trials aren’t cheap, and while we advance the funds needed to bring experts to court or to finance the trial, that’s a consideration too. Sometimes, if you can settle a case early before incurring those expenses, then the math can work out favorably for an injured person. But at the end of the day, again, whether that person just wants their day in court, that’s what we’re here for. We’ll give it to them. Or if they want nothing in court and they just want to negotiate the best settlement possible, then that’s, that’s what we’ll provide the client. [jingle] No need to worry, call Cooper Hurley. The Car Crash Experts. 333-3333.”

Steps After a Settlement Is Reached

A settlement agreement is a written document that outlines the amount of money an insurance company will pay you. It may also cover additional stipulations, such as conditions releasing the at-fault party from further liability. Another common feature is a confidentiality clause, meaning you cannot discuss the settlement amount with anyone else. After negotiations, you and the insurance company will sign the agreement. This officially closes the case, and the insurance company will send the money to your lawyer. Your Virginia car accident lawyer will take out their fees and distribute any money you owe to third parties. For example, medical providers sometimes agree to treat car accident victims in exchange for a lien against the settlement money. In that case, the providers would first receive their portion of the settlement. You can expect to receive your money within a few weeks of signing the settlement agreement. You will likely receive your settlement in the form of a check. The portions of your settlement tied to a physical injury are likely tax-exempt.

How Long Does a Car Accident Settlement Take?

The car accident settlement timeline varies from case to case. The amount of time it takes for you to reach a settlement agreement and receive payment will depend on factors such as:

Your case’s complexity, which influences the amount of evidence and negotiations necessary.
The amount of time it takes to seek medical attention and determine the full extent of your injuries.
Delays in the insurance company’s response or willingness to negotiate.
Bank holidays that may affect the processing of your settlement check.

While nobody wants their car accident case to drag on, it can take time to achieve a fair outcome. Waiting until your injuries have fully come to light and taking things slowly when dealing with insurance companies can result in more money in your pocket.

What Factors Can Impact My Settlement Amount?

Your settlement amount will depend heavily on the extent of damages you suffered. “Damages” are the losses you incurred due to the accident. Common damages in a car accident case include medical expenses, lost income, pain and suffering, and lost earning capacity.

Ideally, your car accident settlement would compensate you for the full value of your damages. However, insurance policy limits may impact the amount you can receive. Virginia drivers often carry just the minimum required liability insurance for personal injury or death. If the at-fault driver carries only the minimum, your damages could easily exceed the available coverage. You could seek additional compensation through your own policy if you have underinsured motorist (UIM) coverage.

Your attorney’s ability to prove the other driver’s fault is also essential in determining your settlement amount. Cooper Hurley Injury Lawyers are known as The Car Crash Experts for good reason. We have decades of experience negotiating with insurance companies and know how to counter their unscrupulous tactics designed to undermine your claim.

Cooper Hurley Injury Lawyers Is Here To Answer Your Settlement Questions

You’re dealing with enough stress after a car accident. Let us handle the legal details for you. When you turn to Cooper Hurley Injury Lawyers, we’ll navigate each step of the car accident settlement process on your behalf so you can focus on your recovery.

Contact us online or call (757) 333-3333 to schedule a free case evaluation. We are here to answer your questions and ensure you know your rights.

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