After a personal injury or accident, waiting on a settlement check can be frustrating. You need these funds to pay bills and reimburse you for the costs and expenses you incurred.
However, the timeline for receiving a personal injury settlement check differs in each case. Numerous facts and circumstances can impact how long it takes to obtain compensation in Boulder, CO.
Most of these factors are not within your control. However, an experienced Boulder personal injury attorney will diligently work to keep your case moving as quickly as possible toward settlement.
What Factors Can Affect How Long It Takes to Get a Personal Injury Settlement Check in Boulder, Colorado?
The following factors are common issues in personal injury cases. Your claim might not involve all the factors below, but it gives you an idea of the things that can impact the timeline for settlement in a personal injury case.
- The type and severity of your injuries: Catastrophic injury cases usually take longer to settle.
- The duration of your recovery period: Settling a personal injury claim before you complete medical treatment can result in a lower settlement than you need.
- Allegations of comparative negligence: Being blamed for contributing to the cause of your injuries slows down the settlement process.
- The parties involved in the case: Some insurance companies and at-fault parties make it more difficult to settle the claim.
- The strength of your evidence: The stronger the evidence proving liability, the stronger your negotiation position.
- The type of personal injury case: Some cases, such as medical malpractice, product liability, and premises liability claims, are more complicated and take longer to settle.
- Whether a personal injury lawsuit is filed: If you must file a lawsuit to pursue a claim, it could add a year or more to the timeline.
An experienced Boulder personal injury lawyer will utilize their skills and resources to pursue your claim. They understand the tactics insurance companies use to delay claims and how to fight back to protect your right to a fair, timely personal injury settlement.
How Long Will It Take to Receive My Personal Injury Settlement Check After I Sign an Agreement?
When you accept a settlement offer, your attorney prepares an agreement. The settlement agreement waives your right to pursue further damages. The other party agrees to pay a specific amount, usually without admitting fault for causing your injuries.
Once the final settlement agreement is signed by all parties, several steps must be taken before you receive a check:
The Check Clears the Bank
Your attorney deposits the settlement check in a trust account. The check must clear the bank before the attorney can disburse any funds. If the settlement is by wire transfer, the time to clear the bank could be much less.
Payment of Medical Liens
Your attorney must pay medical liens, subrogation claims, and any outstanding medical bills before disbursing funds. Experienced personal injury lawyers negotiate with medical providers and insurance companies for lower payoffs.
These companies are not required to lower the amount you owe, but some agree to take a lesser amount. However, your attorney will do their best to put as much money in your pocket as possible.
Payment of Attorney’s Fees and Case Costs
Your lawyer reimburses the law firm for any costs paid on your behalf to pursue the claim.
Examples of case costs include:
- Filing fees
- Postage
- Copy costs
- Fees for medical records, accident reports, and other records
- Travel costs
- Court fees
The attorney also deducts their fee from the settlement proceeds. Most personal injury lawyers in Boulder accept cases for a contingency fee. A contingency fee is a percentage of the amount the attorney recovers for your case.
The Client Receives a Net Settlement Check
Your lawyer will schedule a meeting with you to release the final settlement check. You should receive a complete accounting of how the settlement proceeds were disbursed. Your attorney will review the accounting and answer any questions.
There could be a few more forms you must sign to close the case. At that point, your attorney gives you the settlement check. An experienced attorney keeps their client informed throughout the case so they know what to expect at this stage in the settlement process.
Get Legal Help With a Boulder Personal Injury Case
The insurance adjuster assigned to your case may pressure you to accept a settlement offer without legal advice. Remember, the insurance company does not consider your best interest when offering.
Before accepting a settlement offer, talk with an attorney during a free consultation. Meeting with an attorney to ensure you take all steps to protect your right to a fair settlement costs nothing.