Many personal injury lawsuits end up settling instead of going to a trial by jury. Agreeing on a certain amount of money early and avoiding a legal battle might seem appealing but an injured person could miss out on much-needed funds to pay for medical bills and lost wages as a result of their injury. If you require legal services, consider hiring an attorney to help with settlements in Atlanta truck accident cases. A compassionate truck accident lawyer could advise you on how to navigate the settlement process and avoid falling into the traps of the defendant’s insurance company.
Calculating Settlement Value
The settlement value is calculated by a jury and there is no official formula involved. Insurance companies have tried to reduce this to a formula, which they largely based on what lawyers accept for similar cases. The more lawyers there are who fight for fair settlements, the harder it is for companies to justify lowball offers. People should be aware that if they give the insurance company an indication of what settlement number they will take then the company will view that number as a ceiling for future negotiations.
The injured person should take into account their net recovery, which is what they will they get after they pay attorney’s fees, litigation expenses, and paying all debts related to the settlement. This includes outstanding medical bills or loans that they might have had to take out against the case in order to fund the medical needs or lost income.
Who Decides When to Accept a Settlement?
Ultimately, the client decides whether to settle or take a case to court. However, it is important to have a lawyer who has trial experience because they will be able to determine how much the case is worth.
Someone may want to accept a settlement offer if they believe the payment will be sufficient or if there is a significant risk of losing at a trial. Sometimes an attorney may be too timid to handle a trial and might suggest a settlement as a result, which is why it is important to find a firm that has a strong history of trying cases.
The choice to reject a settlement and go to trial ultimately comes down to the claimant’s personal risk tolerance and their trust in their attorney.
Receiving the Settlement Money in a Timely Manner
It is typical to expect 30 days between the agreement with the insurance company until the time funds are ready to be dispersed to the client. Someone can ensure they receive their settlement in a timely manner by making sure their medical documentation is thorough and up-to-date. If the claimant is still in pain and needs continuous medical treatment, they should not try to settle early. Therefore, it helps to have a lawyer in the city that is monitoring the truck crash settlement closely. They could have the staff and resources to quickly put the case into a posture for a settlement demand once medical caregivers can project how the injuries will impact the plaintiff’s capabilities in the future.
Let an Attorney Help You with Settlements in Atlanta Truck Accidents
There are several ways for an injured person to accidently trap themselves into accepting a low settlement offer from the insurance companies. You could avoid that by working with an experienced lawyer in Atlanta who knows how to settle truck accidents and has the resources to get it done. Call today to learn the nuances of settlements in Atlanta truck accident cases.