23 Sep FAQs: Waiting for Money from a Personal Injury Settlement
Personal injury settlements are not always straightforward. Negotiations can take months, or you might end up in a lengthy court battle. Naturally, you want to know how long you have to wait for your money when you do settle or when a jury awards you in a trial. But when it comes to legal settlement loans, bills don’t wait, so why should you? Certified Legal Funding in Tampa can help you get personal injury funding now.
If you need personal injury funding, you likely have lots of questions. When will you get your money after a personal injury settlement? How will it be paid out? Certified Legal Funding provides pre-settlement cash advances and fields questions like these on a daily basis. Here is a list of frequently asked questions about the process of personal injury settlements and the wait time involved.
How long does it take to settle a personal injury claim?
First things first: you need to reach a settlement before you can expect any money. Many factors can affect the length of your settlement process, such as the type of injuries sustained, the circumstances of the accident, whether the other party accepts liability, and the time required to gather evidence.
On average, personal injury claims take 4-6 months to settle. Keep in mind that certain types of personal injury cases, such as medical malpractice and industrial disease claims, can take significantly longer to settle.
How are settlements paid out?
How your settlement is paid out also depends on a few factors. First, if you negotiated with the insurance company of the liable person, the insurance company will issue the check. If you negotiated with the person at fault, you might need to go back to court to collect the awarded settlement because the other side does not always honor the original court order.
When will I receive my settlement check?
It is frustrating to hear, but you should not expect to receive your check the day your case settles unless the court orders when the settlement funds should be paid.
If you were negotiating with the insurance company and you win your case, the insurance company may send you a release of all claims and other documents. You need to sign and return these forms before the payment can be issued. If the company addresses the check to you and your attorney, you will need your attorney’s signature before the check is deposited into your attorney’s account. If you negotiated a structured settlement, you will receive part or all of a settlement as periodic payments on an agreed schedule.
What happens with my medical bills, attorney fees, and other expenses?
Before you receive personal injury settlement money, all of your outstanding medical bills and liens need to be paid. The attorney usually handles this using the deposited funds. Once the bills and liens are sorted out, your attorney will deduct legal fees and costs.
What can I do if I need money immediately?
While it can take some time to receive personal injury settlement funding, there is a lifeline. After all, just because you are in court or negotiating with an insurance company, it does not mean your usual bills and living costs will disappear.
To stay afloat and keep up with your payments while you are waiting for your settlement, consider applying for legal funding now. Pre-settlement funding, also known as lawsuit funding, certified funding, or legal settlement loans, is a simple way to access a portion of your settlement to cover your expenses now. By calling Certified Legal Funding, you can alleviate the stress of waiting for money from a personal injury settlement in Florida: 800-922-7439.